Palatin Technologies Presents Positive Preclinical MC1 Receptor Agonist Data at TIDES: Oligonucleotide and Peptide Therapeutics 2018 Meeting in Boston, Massachusetts

CRANBURY, N.J., May 9, 2018 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical needs and commercial potential, announced today a poster presentation on its PL-8177 and PL-8331 melanocortin-1 receptor agonist programs. PL-8177 is Palatin’s lead clinical product candidate for the treatment of inflammatory bowel disease, including Crohn’s disease. PL-8331 is the Company’s drug candidate for the treatment of dry eye. The poster presentation will be made at the TIDES: Oligonucleotide and Peptide Therapeutics 2018 meeting in Boston, Massachusetts on May 9, 2018.

“Now that a New Drug Application has been submitted on bremelanotide for hypoactive sexual desire disorder, Palatin is focused on expanding indications for our melanocortin and natriuretic peptide technologies,” said Carl Spana, Ph.D., CEO and President of Palatin. “We believe that that our receptor-specific peptide and small molecule melanocortin therapeutics can address a number of important diseases that are currently underserved.”

The poster entitled “Probing the Role of the MC1 Receptor Agonists in Diverse Immunological Diseases,” highlights data from preclinical studies with two proprietary peptide agonists developed by Palatin, PL-8177 and PL-8331. The poster can be found on the Palatin website at https://www.palatin.com/resources/corporate-presentation/poster-presentations/.

Data from a rat model of bowel inflammation showed reduced inflammation and colon weight scores to a similar degree as sulfasalazine, the positive control drug. PL-8177 was also evaluated in a mouse model of autoimmune uveitis. In this model, PL-8177 administered by intraperitoneal injection demonstrated significantly reduced retinal inflammation compared to untreated controls. PL-8177 is in ongoing Phase 1 safety studies.

PL-8331 was evaluated in a mouse model of dry eye. In this model PL-8331 demonstrated reduction in corneal epithelial damage due to dry eye with efficacy similar to Restasis® cyclosporine ophthalmic emulsion. Palatin anticipates completing Investigational New Drug preclinical enabling activities on PL-8331 later this calendar year.

The TIDES: Oligonucleotide and Peptide Therapeutics 2018 meeting is May 7-10 at the Hynes Convention Center, Boston, MA. For more information, see https://lifesciences.knect365.com/tides/.

About Palatin Technologies
Palatin Technologies, Inc. is a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Palatin’s strategy is to develop products and then form marketing collaborations with industry leaders in order to maximize their commercial potential. For additional information regarding Palatin, please visit Palatin’s website at www.Palatin.com.

Forward-looking Statements
Statements in this press release that are not historical facts, including statements about future expectations of Palatin Technologies, Inc. such as statements about preclinical and clinical trial results with our melanocortin-1 receptor agonist product candidates, potential indications for our melanocortin-1 receptor agonist product candidates, regulatory actions by the U.S. Food and Drug Administration (FDA), whether we, either singly or with partners, will be successful in developing and commercializing any of our melanocortin-1 receptor agonist product candidates, and market potential for our melanocortin-1 receptor agonist product candidates are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. Palatin intends that such forward-looking statements be subject to the safe harbors created thereby. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Palatin’s actual results to be materially different from its historical results or from any results expressed or implied by such forward-looking statements. Palatin’s actual results may differ materially from those discussed in the forward-looking statements for reasons including, but not limited to, results of nonclinical, preclinical and toxicology studies, result of clinical trials, regulatory actions by the FDA and the need for regulatory approvals, Palatin’s ability to fund development of its technology and establish and successfully complete clinical trials, the length of time and cost required to complete clinical trials and submit applications for regulatory approvals, products developed by competing pharmaceutical, biopharmaceutical and biotechnology companies, commercial acceptance of Palatin’s products, and other factors discussed in Palatin’s periodic filings with the Securities and Exchange Commission. Palatin is not responsible for updating for events that occur after the date of this press release.

CONTACT: Investors for Palatin: Stephen T. Wills, CPA, MST, Chief Operating Officer / Chief Financial Officer, 609-495-2222 / swills@palatin.com / info@palatin.com, Media for Palatin: Paul Arndt, MBA, LifeSci Advisors, LLC, Managing Director, 646-597-6992 / paul@lifesciadvisors.com