Notice of Allowance Issued for Method of Treating Cytokine Storm Using Melanocortin-Specific Peptide

CRANBURY, N.J., Nov. 30, 2021 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE American: PTN), a specialized biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin peptide receptor system, today announced that the U.S. Patent and Trademark Office has issued a Notice of Allowance for application No.: 16/927,347. The allowed claims relate to the use of melanocortin peptides to decrease pro-inflammatory cytokine production and expression associated with cytokine storm, a dysregulation of the immune system characterized by undesired cytokine expression.

Carl Spana, Ph.D., President and CEO of Palatin, stated, "We continue to strengthen our intellectual property surrounding our melanocortin receptor-1 peptide portfolio, particularly when early data suggest they can help resolve the over production and expression of pro-inflammatory cytokines associated with many diseases, including acute viral infections such as COVID-19. We continue to develop this technology as part of our diversified platform."

This patent is in a family of patents relating to melanocortin receptor-1 peptides and covers additional intellectual property relating to use of high potency melanocortin receptor-1 peptides.

About Melanocortins and Inflammation

The melanocortin receptor ("MCr") system has effects on food intake, metabolism, sexual function, inflammation, and immune system responses. There are five melanocortin receptors, MC1r through MC5r. Modulation of these receptors, through receptor-specific agonists, which activate receptor function, or receptor-specific antagonists, which block receptor function, can have significant pharmacological effects.

Many tissues and immune cells located in various organs such as the eye. gut, and kidney express melanocortin receptors, providing the opportunity to directly activate natural pathways to resolve disease inflammation.

About Palatin

Palatin is a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems, with targeted, receptor-specific product candidates 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 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, such as statements about clinical trial plans and potential results for clinical or pre-clinical programs, 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 clinical trials, regulatory actions by the FDA and other regulatory 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.

SOURCE Palatin Technologies, Inc.