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Palatin Technologies, Inc.
Drug Names(s): PT-141
Description: Bremelanotide is the first of a new class of drugs called melanocortin agonists being developed to treat sexual dysfunction. It acts on the MC1 and MC4 receptors. MC4 receptors in the brain are associated with the regulation of metabolism, sexual behaviour, and male erectile function. While it was hoped that a more direct activation of the pathway that controls sexual function without acting directly on the vascular system would offer safety and efficacy benefits, an initial nasal formulation had to be discontinued due to elevation of blood pressure.
Palatin and King
In August 2004, Palatin formed a strategic alliance with King Pharmaceuticals to jointly develop and commercialize Bremelanotide. Palatin will have responsibility for preclinical and clinical development and manufacturing, and will have the right to co-promote Bremelanotide to the urology specialty market. The two companies will jointly seek a marketing partner outside the U.S. The collaboration is potentially worth $250M in milestone payments to Palatin and includes profit sharing on a worldwide basis.
In September 2007, Palatin reacquired full rights to bremelanotide from King Pharmaceuticals following King exercising its right to terminate their agreement. Under the termination, Palatin has all rights to bremelanotide, without any obligation for future payments to King. King has no financial obligation for future payments to Palatin, other than for previously incurred costs not yet reimbursed and approved expense reimbursements related to the...See full deal structure in Biomedtracker
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