Tranzyme, Inc. has decided to explore and evaluate strategic alternatives, including the possibility of a merger, sale, or other transaction to maximize value for stockholders. The company has not made a decision to pursue any specific transaction and has not set a timetable for the strategic review process. Tranzyme has retained Stifel as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its legal counsel to assist with the strategic review process.