Palatin will continue to develop products targeting melanocortin and natriuretic receptors in the sexual dysfunction, obesity, and cardiovascular fields, including acute hospital care products for use in treatment of acute systemic hypertension, congestive heart failure and hemorrhagic shock.
The restructuring focuses the Company's resources on the programs and opportunities that management believes are most likely to
increase shareholder value. Additional details will be provided by management in a conference call today at 11:00 a.m. Eastern Time.
"Palatin has had a strong and productive research effort focused on two
challenging and exciting scientific areas: melanocortin and natriuretic peptide receptors. We have generated a substantial amount of data and an
extensive product portfolio that allows us numerous exciting opportunities
to drive value for our shareholders," stated Carl Spana, Ph.D., President
and Chief Executive Officer of Palatin. Dr. Spana continued, "Concentrating
our efforts on value drivers and matching our resources to those projects
with the highest potential for near-term success is our immediate priority."
Also see the Bremelanotide Bulletin
ED is defined as the consistent inability to attain and maintain an erection sufficient for sexual intercourse. The condition is correlated with increasing age, cardiovascular disease, hypertension, diabetes, hyperlipidemia, and smoking. In addition, certain prescription drugs and psychogenic issues may contribute to ED. It is estimated that some degree of ED affects one half of all men over the age of 40 and that 150 million men worldwide suffer from ED.
About Palatin Technologies, Inc.
Palatin Technologies, Inc. is a biopharmaceutical company primarily focused on discovering and developing targeted, receptor-specific peptide and small molecule therapeutics, including melanocortin ("MC")-based therapeutics. Therapeutics affecting the activity of the MC family of receptors may have the potential to treat a variety of conditions and diseases, including sexual dysfunction, obesity and related disorders, cachexia, hemorrhagic shock and inflammation-related diseases.
The Company is exploring other receptor- specific therapeutics, including natriuretic peptide receptor A ("NPRA") agonist compounds for use in treatment of acute systemic hypertension, congestive heart failure and other diseases. Palatin's strategy is to develop products and then form marketing collaborations with industry leaders in order to maximize their commercial potential. The Company currently has collaborations with AstraZeneca and the Mallinckrodt division of Covidien.
For additional information regarding Palatin, please visit Palatin Technologies' website at: http://www.palatin.com.
SOURCE Palatin Technologies