Palatin Technologies Announces Notification of Patent Allowance On Next
Generation Melanocortin Receptor-Specific Peptides
CRANBURY, N.J., June 10, 2014
CRANBURY, N.J., June 10, 2014 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE
MKT: PTN), a biopharmaceutical company developing targeted, receptor-specific
peptide therapeutics for the treatment of diseases with significant unmet
medical need and commercial potential, announced today that the United States
Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S.
Patent Application Serial Number 13/311,824 (the '824 application). The
application includes composition of matter claims on a next generation of
melanocortin receptor-specific peptides for sexual dysfunction, obesity,
metabolic syndrome and other indications.
The melanocortin-4 receptor mediates sexual response, and agonists have been
studied for treatment of both erectile dysfunction and female sexual
dysfunction. Palatin's bremelanotide product, a melanocortin-4 receptor
agonist peptide drug administered using an autoinjector, has completed Phase 2
human studies for female sexual dysfunction, with pivotal Phase 3 clinical
studies scheduled to start later this year.
The peptides in the '824 application demonstrated effects on sexual function
in animal models. Palatin is evaluating these peptides as potential follow-on
or second generation products for treatment of sexual dysfunction. The
melanocortin-4 receptor also has potential utility in treatment of obesity,
metabolic syndrome and other indications.
"We are pleased to have patent protection on our next generation of new
peptides with improved profiles that target the melanocortin-4 receptor,"
stated Carl Spana, Ph.D., President and CEO of Palatin.
A Notice of Allowance is issued after the USPTO makes a determination that a
patent can be granted from an application. The issued patent twenty-year term
will not expire until June 2030. The Notice of Allowance for the '824
application has been posted on the USPTO public PAIR website.
About Palatin Technologies
Palatin Technologies, Inc. is a biopharmaceutical company developing targeted,
receptor-specific peptide therapeutics for the treatment of diseases with
significant unmet medical need and commercial potential. Palatin's strategy is
to develop products and then form marketing collaborations with industry
leaders in order to maximize their commercial potential. For additional
information regarding Palatin, please visit Palatin's website at
Statements in this press release that are not historical facts, including
statements about future expectations of Palatin Technologies, Inc. such as
statements about potential clinical utility of melanocortin receptor-4 agonist
peptides, whether the subject patent will issue or adequately protect against
competition, the future status of pending and planned patent applications,
potential clinical trial results, potential actions by regulatory agencies
including the U.S. Food and Drug Administration (FDA), regulatory plans,
development programs, proposed indications for melanocortin receptor-4 agonist
peptide product candidates and market potential for melanocortin receptor-4
agonist peptide product candidates, are "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and as that term is defined in the Private
Securities Litigation Reform Act of 1995. Palatin intends that such
forward-looking statements be subject to the safe harbors created thereby.
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that could cause Palatin's actual results to be materially
different from its historical results or from any results expressed or implied
by such forward-looking statements. Palatin's actual results may differ
materially from those discussed in the forward-looking statements for reasons
including, but not limited to, results of nonclinical, preclinical and
toxicology studies, result of clinical trials, regulatory actions by the FDA
and the need for regulatory approvals, Palatin's ability to fund development
of its technology and establish and successfully complete clinical trials, the
length of time and cost required to complete clinical trials and submit
applications for regulatory approvals, products developed by competing
pharmaceutical, biopharmaceutical and biotechnology companies, commercial
acceptance of Palatin's products, and other factors discussed in Palatin's
periodic filings with the Securities and Exchange Commission. Palatin is not
responsible for updating for events that occur after the date of this press
SOURCE Palatin Technologies, Inc.
Contact: Palatin Technologies Investor Inquiries: Stephen T. Wills, CPA, MST,
Chief Operating Officer / Chief Financial Officer, Tel: (609) 495-2200 /
firstname.lastname@example.org, Palatin Technologies Media Inquiries: Paul Arndt, MBA,
LifeSci Advisors, LLC, Managing Director, Tel: (646) 597-6992 /
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