Palatin Technologies

Palatin slashes staff, dumps research program

Wed, 14 May 2008 06:59:58 -0400

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

Palatin slashes staff following FDA objections

Wed, 26 Sep 2007 06:59:56 -0400

With its lead therapy raising some serious safety concerns at the FDA, Palatin Technologies announced that it is whacking about a third of its workforce. The move, which comes just two weeks after King Pharmaceuticals dropped out of its partnership with Palatin, will leave Cranbury, NJ-based Palatin with a workforce of 64 and is designed to save about $4 million in costs. Palatin has run into a roadblock with the development of bremelanotide. Regulators have questioned the drug's safety, noting a rise in blood pressure among volunteers taking the therapy. Palatin says it will continue on with a collaboration with AstraZeneca on obesity therapies as well as further developing a candidate for treating congestive heart failure.

- see the release on the cutbacks

Related Articles:
King bails on Palatin's FSM program. Report
Palatin researchers tout data. Report
Safety concerns force delay for Phase III ED trial. Report

King bails on Palatin's FSM program

Mon, 10 Sep 2007 06:59:57 -0400

Less than two weeks after U.S. drug regulators raised serious doubts about the safety of bremelanotide for ED, King Pharmaceuticals has decided to drop out of its co-development pact with Palatin Technologies. Regulators raised red flags on the therapy, noting an increase in blood pressure as a serious safety issue for patients that should prevent a late-stage study.

"Regarding the FSD program with bremelanotide, we have completed an exploratory at-home Phase II clinical trial in pre- and postmenopausal women and are in the final stages of compiling the data. We anticipate releasing the results later this month," stated Dr Carl Spana, CEO of Palatin. Palatin is also working a development program for an obesity drug in a program paired with AstraZeneca.

- see the release
- read this report from DrugResearcher

Related Articles:
Safety concerns force delay for Phase III ED trial. Report
Palatin researchers tout data. Report
Gene therapy approach may work against ED. Report

Safety concerns force delay for Phase III ED trial

Thu, 30 Aug 2007 06:59:57 -0400

With regulators at the FDA waving a red flag over safety concerns, King Pharmaceuticals and Palatin Technologies announced that they will delay the planned launch of a Phase III trial of bremelanotide for ED. Regulators said they were concerned by data in Phase I and Phase II that the drug raised patients' blood pressure in certain patients. Researchers had hoped to pursue the use of the drug as a first-line therapy, but the FDA says the best approach may be for use among patients who have not responded well to other, marketed ED drugs.

- check out the release
- read the MarketWatch report on the trial