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WASHINGTON (dpa-AFX) - AMAG Pharmaceuticals, Inc. (AMAG) and Palatin Technologies, Inc. (PTN) said Monday that both Phase 3 RECONNECT studies (301, 302) of Rekynda, or bremelanotide, met co-primary end points and demonstrated significant...
SeekingAlpha  Feb 9  Comment 


Palatin Technologies (AMEX:PTN) is a biopharmaceutical company dedicated to the development of proprietary peptide, peptide mimetic and small molecule agonist compounds with a focus on therapeutics that modulate melanocortin and natriuretic peptide receptor systems. The melanocortin system is involved in a large and diverse number of physiologic functions, and therapeutic agents modulating this system may have the potential to treat a variety of conditions and diseases, including sexual dysfunction, obesity and related disorders, ischemia and reperfusion injury, hemorrhagic shock and inflammation-related diseases. The natriuretic peptide receptor system has numerous cardiovascular functions, and therapeutic agents modulating this system may be useful in treatment of heart failure, hypertension and other cardiovascular diseases.

Palatin has collaborations with industry leaders AstraZeneca (NYSE:AZN) and the Mallinckrodt division of Covidien (NYSE:COV).

Product Portfolio PL-3994, a peptidomimetic natriuretic peptide receptor A agonist, for treatment of heart failure, including congestive heart failure. Bremelanotide, a peptide melanocortin receptor agonist, for prevention of organ damage secondary to cardiac surgery and related indications. PL-3994, a peptidomimetic natriuretic peptide receptor A agonist, for treatment of difficult-to-control hypertension, including dialysis patients with hypertension. PL-6983, a peptide melanocortin-4 receptor agonist, for treatment of female sexual dysfunction. Ongoing research collaboration and global license with AstraZeneca AB on melanocortin receptor-based compounds for treating obesity and related metabolic syndrome. NeutroSpec, a radiolabeled monoclonal antibody product for imaging and diagnosing infection, is the subject of a strategic collaboration agreement with the Mallinckrodt division of Covidien. All ongoing clinical trials and regulatory approvals of NeutroSpec have been suspended while the Company and Mallinckrodt evaluate future development and marketing activities involving NeutroSpec.

Carl Spana, Ph.D., President and Chief Executive Officer Dr. Spana, co-founder of Palatin, has served as president and chief executive officer since 2000. He has been a director of Palatin since 1996 and has been a director of Palatin’s wholly-owned subsidiary, RhoMed Incorporated, since 1995. From 1996 to 2000, Dr. Spana served as an executive vice president and chief technical officer of Palatin.

From 1993 to 1996, Dr. Spana was vice president of Paramount Capital Investments, LLC, a biotechnology and biopharmaceutical merchant banking firm, and of The Castle Group Ltd., a medical venture capital firm. Through his work at Paramount Capital Investments and Castle Group, Dr. Spana co-founded and acquired several private biotechnology firms. From 1991 to 1993, Dr. Spana was a research associate at Bristol-Myers Squibb, a publicly traded pharmaceutical company, where he was involved in scientific research in the field of immunology. Dr. Spana is a director of AVAX Technologies, Inc., a publicly traded medical technology company, and a director of Curalogic A/S, a Danish life science company publicly traded on the Copenhagen Stock Exchange.

Dr. Spana received his Ph.D. in molecular biology from The Johns Hopkins University and his B.S. in biochemistry from Rutgers University.



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