CRANBURY, N.J., May 26, 2016 /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 that the United States Patent and
Trademark Office (USPTO) has issued a Notice of Allowance for U.S.
Patent Application Serial Number 14/514,472 (the '472
application). The allowed composition of matter claims are to
a broad family of melanocortin receptor-1 (MC1r) peptides with
potential application in inflammatory disease-related and
autoimmune indications.
Carl Spana, Ph.D., President and
CEO of Palatin, commented, "Our MC1r peptide drug candidates, which
are covered by the allowed patent, are highly specific, with
substantially greater binding and efficacy at MC1r than at other
melanocortin receptors. Our MC1r program has the potential to
treat a number of diseases, including inflammatory bowel disease,
nephritis (inflammation of the kidneys), rheumatoid arthritis,
ocular indications such as uveitis and dry eye, and dermatologic
indications. We are pleased with this important extension of our
patent portfolio."
The patent enhances Palatin's MC1r patent family, and covers a
number of peptides under evaluation, including PL-8177, Palatin's
internal lead inflammatory disease candidate. PL-8177 has
demonstrated efficacy in preclinical models for autoimmune uveitis,
inflammatory bowel disease and nephritis. Preclinical animal
studies show PL-8177 suppresses the physiologic activity of
inflammatory challenges, resulting in reduction of a number of
inflammatory cytokines.
Once issued, the patent is expected to expire no earlier than
November, 2030. The '472 patent application is solely owned
by Palatin Technologies.
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
http://www.palatin.com.
Forward-looking Statements
Statements in this press release that are not historical facts,
including statements about future expectations of Palatin
Technologies, Inc. such as statements about clinical trial results,
potential actions by regulatory agencies, whether the subject
patent will adequately protect against competition, and the future
status of pending and planned patent applications 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, regulatory actions by the USPTO, 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 release.
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SOURCE Palatin Technologies, Inc.