Palatin Technologies announces closing of license agreement with AMAG Pharmaceuticals for North American rights to Rekynda.
Palatin Technologies, Inc. announced the closing of its license agreement with AMAG Pharmaceuticals, Inc. for exclusive North American rights to develop and commercialize Rekynda (bremelanotide), an investigational product designed for on-demand treatment of hypoactive sexual desire disorder (HSDD) in pre-menopausal women. Palatin received an initial payment of $60,000,000 under the license agreement.
“We are very pleased and excited to be working closely with AMAG to complete the activities required to support an NDA filing with the FDA,” said Carl Spana, Ph.D., chief executive officer of Palatin Technologies. “We believe Rekynda will offer an important therapeutic alternative for pre-menopausal women suffering from HSDD and we are confident that AMAG’s commercial capabilities and expertise will drive a successful approval and launch of Rekynda in early 2019.”
Palatin will hold a conference call and audio webcast on Thursday, February 9, 2017 at 11:00 a.m. Eastern time to discuss its role in further development and regulatory approval of Rekynda.
Management will also discuss anticipated next steps in Palatin’s portfolio of drug development programs, including its melanocortin receptor1 agonist peptides for treatment of inflammatory and dermatologic disease indications, melanocortin receptor-4 agonist compounds for treatment of obesity and diabetes, and natriuretic peptide receptorA agonist compounds for treatment of cardiovascular and pulmonary indications. The call will also include a review of Palatin’s operating results for its second fiscal quarter ended December 31, 2016. Palatin will release its second quarter operating results on Thursday, February 9, 2017, before the open of the U.S. Financial markets.
Rekynda is a trademark of Palatin Technologies, Inc.
(Source: PR Newswire)
