Transcept, waiting for Novacea merger, submits drug to FDA

San Francisco Business Times - by , submitted its middle-of-the-night sleep drug Intermezzo to the FDA for approval. Transcept, led by President and CEO Glenn Oclassen, says Intermezzo, a $3 or $4 pill dissolved under the tongue, helped people in a recent 294-person test fall asleep an average of 32 minutes faster than they would without its help. The drug also lasts just four hours, allowing those who use it to wake up more easily in the morning. Kirk Raab, chairman of Transcept, used to be CEO of Genentech Inc. (NYSE: DNA). A month ago Transcept and South San Francisco’s Novacea... [read full story]