- Palatin Technologies (NYSE:PTN +7.1%) inks a collaboration and license agreement with Kwangdong Pharmaceutical Co., Ltd. for the exclusive rights to develop and commercialize bremelanotide for female sexual dysfunction indications in Korea.
- Under the terms of the agreement, Palatin will receive $500K upfront, $3M triggered by the first commercial sale, up to $37.5M in sales-related milestones and mid-single-digit-to-low-double-digit royalties on net sales.
- Bremelanotide is a synthetic peptide analog of the naturally occurring hormone alpha-MSH, a melanocortin agonist. The melanocortin system plays a key role in sexual function as well as pigmentation, inflammation and energy homeostasis.
- A U.S. marketing application will be filed in Q1 2018.
Palatin establishes bremelanotide distribution in Korea; shares ahead 7%
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