CRANBURY, N.J., Feb. 10, 2021 /PRNewswire/ -- Palatin
Technologies, Inc. (NYSE American: PTN), a specialized
biopharmaceutical company developing first-in-class medicines based
on molecules that modulate the activity of the melanocortin peptide
receptor systems, today announced the filing of an international
patent application under the Patent Cooperation Treaty (PCT)
directed to the composition of PL9643 and a related family of
melanocortin agonist peptides.
Palatin recently reported positive results in its Phase 2 study
of PL9643 for the treatment of Dry Eye Disease (DED). Detailed
study results will be presented at the Association for Research in
Vision and Ophthalmology (ARVO) 2021 Annual Meeting. A Phase 2/3
clinical trial with PL9643 for the treatment of DED is currently
planned for mid-2021.
The PCT application for PL9643 establishes the base for the
presumptive patent term, and if a patent is granted which claims
priority to this application, could provide patent protection for
PL9643, and any product in which PL9643 is the active
pharmaceutical ingredient, out to 2041, excluding any additional
term for patent adjustment or patent term extension.
Palatin believes that the structure of PL9643 is novel and
inventive. The International Search Authority will conduct a
search and issue its Written Opinion on PL9643 and the related
family of melanocortin agonist peptides, which will provide
additional information on patentability of PL9643 and the related
family. We anticipate filing patent applications in
the United States, Europe and a number of additional regions and
countries throughout the world.
About Dry Eye Disease (DED)
Dry eye disease is a
common inflammatory disease that, left untreated, can become
extremely painful and lead to permanent damage to the cornea and
vision. Dry eye disease affects the cornea and conjunctiva of the
eye resulting in irritation, redness, pain, and blurred vision. It
is estimated to affect over 20 million people in the
United States. The disease is
characterized by insufficient moisture and lubrication in the
anterior surface of the eye, leading to dryness, inflammation,
pain, discomfort, irritation, diminished quality of life, and in
severe cases, permanent vision impairment. Existing therapy for dry
eye disease is generally regarded as inadequate by many physicians
and patients, and often requires weeks or months to demonstrate
activity.
About Palatin Technologies, Inc.
Palatin Technologies,
Inc. is a specialized biopharmaceutical company developing
first-in-class medicines based on molecules that modulate the
activity of the melanocortin and natriuretic peptide receptor
systems, with targeted, receptor-specific product candidates 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 to
maximize their commercial potential. For additional information
regarding Palatin, please visit Palatin's website at
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 patentability of PL9643 and the related family of
melanocortin agonist peptides, clinical trial results, potential
actions by regulatory agencies including the FDA, regulatory plans,
development programs, proposed indications for product candidates,
market potential for product candidates, and potential adverse
impacts due to the global COVID-19 pandemic such as delays in
regulatory review, manufacturing and supply chain interruptions,
adverse effects on healthcare systems and disruption of the global
economy, 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, actions by patent
offices in the United States and
other countries, results of clinical trials, regulatory actions by
the FDA and other regulatory 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 release.
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SOURCE Palatin Technologies, Inc.