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Palatin Technologies, Inc. (PTN) Announces Start Of Second Phase I Trial Of Its Obesity Compound

|Includes: Palatin Technologies, Inc (PTN)

Palatin Technologies is a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with unmet medical needs and significant commercial potential. Obesity is also a focus of the company.

Palatin Technologies reported today that a second Phase I clinical trial of AZD2820 has begun with the dosing of the first patient. The compound is administered under the skin and is a peptide melanocortin receptor partial agonist which is under development for treating obesity. The compound is a clinical candidate selected by European drug firm AstraZeneca (NYSE: AZN) from a collaborative research program with Palatin Technologies. AstraZeneca has responsibility for product commercialization, discovery, and development costs.

The Phase I single center study, conducted by AstraZeneca, is expected to enroll 72 obese but otherwise healthy male subjects in a randomized, single-blind, placebo-controlled trial. The goal of the study is to is to assess the safety, tolerability, pharmacokinetics and pharmacodynamics of AZD2820. Longer-term, the trial should ultimately establish what role melanocortin agonists may play in treating obesity.

This trial is important to Palatin because of its agreement with AstraZeneca. Under terms of the collaboration and license agreement, Palatin is eligible for milestone payments upon achieving development and regulatory milestones and further payments on reaching sales targets, in addition to royalties on sales of approved products.

For additional information about Palatin Technologies, please visit the company's website at

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