Palatin slashes staff, dumps research program
Palatin Technologies is cutting about a third of its workforce and dumping one of its lead development programs--an effort to find a better tolerated successor to sildenafil. After studying research results, Palatin has discontinued development of bremelanotide for the treatment of male and female sexual dysfunction, focusing its research on the therapy for hemorrhagic shock and related indications. Researchers will launch a Phase IIa study of PL-3994 this quarter in patients with controlled hypertension. A Phase IIa study of PL-3994 for acute congestive heart follows next year.
Palatin suffered a serious blow last summer over regulatory questions regarding spikes in the blood pressure of volunteers taking the drug. Its partner in the effort, King Pharmaceuticals, bowed out and Palatin launched a strategic review of its operations. The staff cut will bring the company's head count down to 45.
"Palatin has had a strong and productive research effort focused on two challenging and exciting scientific areas: melanocortin and natriuretic peptide receptors," said CEO Carl Spana. "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."
- check out the press release
- read the report
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More stories about layoffs Palatin Technologies King Pharmaceuticals female sexual dysfunction Bremelanotide Phase II
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By Jennifer | Posted 10:01am | May 15, 2008
It was very disappointing to hear Palatin Technologies stopped developing Bremelanotide for the treatment of ED and FSAD. :(
Although in the most recent press release, Palatin also mentioned they have a new drug to treat sexual arousal disorders called PL-6983 which apparently works as well as Bremelanotide but without the blood pressure spike.
Unfortunately it needs to start back at phase 1 clinical trials, so it'll be QUITE a while before PL-6983 would ever be available for prescription or purchase. But on the plus side there are other similar drugs further along in the pipeline that we can look forward to.
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