CRANBURY, N.J., July 22, 2021 /PRNewswire/ -- Palatin
Technologies, Inc. ("Palatin") (NYSE American: PTN), a
biopharmaceutical company developing first-in-class medicines based
on molecules that modulate the activity of the melanocortin peptide
receptor system, today announced that Carl
Spana, PhD, President and CEO of Palatin, presented today at
the Eyecelerator@ASCRS Conference in Las
Vegas, NV. The presentation is one of several Company
Showcases in the general session titled: "Dry Eye: The Need for
Innovation." The topics of the presentation were
melanocortins' role in resolving inflammation and presentation from
a Phase 2 study with Palatin's compound PL9643 for dry eye disease
(DED) and included information about Palatin's research program
with melanocortins in retinal disease.
Eyecelerator is a partnership between the American Academy
of Ophthalmology (AAO) and the American Society of Cataract and
Refractive Surgery (ASCRS). Its mission is to connect
entrepreneurs, investors, companies, and physicians to advance
ophthalmic innovation through live conferences, virtual
programming, and a next-generation networking platform.
Palatin is on track to initiate a Phase 3 clinical study with
PL9643 in patients for the treatment of dry eye disease during the
fourth quarter of calendar year 2021, with data readout expected in
the second half of calendar year 2022. If the program progresses as
planned, an NDA submission is targeted for the second half of
calendar year 2023.
PL9643 is a novel melanocortin agonist, delivered to the eye
topically via eyedrops. Palatin previously announced positive
results in its Phase 2 study of PL9643 for the treatment of DED.
Statistically significant improvement in multiple signs and
symptoms was achieved in the moderate to severe patient population
after 2 weeks of dosing and at the 12-week visit. There were no
safety signals identified and PL9643 had excellent ocular
tolerability.
American Academy of Ophthalmology
The Academy is the world's largest association of eye physicians
and surgeons. A global community of 32,000 medical doctors, it
protects sight and empowers lives by setting the standards for
ophthalmic education and advocating for patients and the public.
The Academy innovates to advance the profession and to ensure the
delivery of the highest-quality eye care. Through its
EyeSmart® articles on AAO.org, the Academy provides the public
with the most trusted information about eye health. For more
information, visit aao.org.
ASCRS (American Society of Cataract and Refractive
Surgery)
ASCRS is an international educational society with nearly 8,000
ophthalmic surgeons at every career stage. Its mission is to
empower anterior segment surgeons to improve the vision, outcomes,
and quality of life for their patients through innovative
approaches to education, advocacy, and philanthropy. For more
information, visit ascrs.org.
About Melanocortins and Inflammation
The melanocortin receptor ("MCr") system has effects on food
intake, metabolism, sexual function, inflammation, and immune
system responses. There are five melanocortin receptors, MC1r
through MC5r. Modulation of these receptors, through use of
receptor-specific agonists, which activate receptor function, or
receptor-specific antagonists, which block receptor function, can
have significant pharmacological effects.
Many tissues and immune cells located in the eye express
melanocortin receptors, empowering our opportunity to directly
activate natural pathways to resolve disease inflammation.
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
Palatin is a 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, such as
statements about clinical trial plans and potential results for
PL9643, 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 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.