CRANBURY, N.J.,
Nov. 30, 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 system, today announced that the U.S.
Patent and Trademark Office has issued a Notice of Allowance for
application No.: 16/927,347. The allowed claims relate to the use
of melanocortin peptides to decrease pro-inflammatory cytokine
production and expression associated with cytokine storm, a
dysregulation of the immune system characterized by undesired
cytokine expression.
Carl Spana, Ph.D., President and
CEO of Palatin, stated, "We continue to strengthen our intellectual
property surrounding our melanocortin receptor-1 peptide portfolio,
particularly when early data suggest they can help resolve the over
production and expression of pro-inflammatory cytokines associated
with many diseases, including acute viral infections such as
COVID-19. We continue to develop this technology as part of our
diversified platform."
This patent is in a family of patents relating to melanocortin
receptor-1 peptides and covers additional intellectual property
relating to use of high potency melanocortin receptor-1
peptides.
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
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 various organs such as
the eye. gut, and kidney express melanocortin receptors, providing
the opportunity to directly activate natural pathways to resolve
disease inflammation.
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
clinical or pre-clinical programs, 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.