Palatin Technologies, Inc. Receives U.S. Patent Allowance for Heart Failure Drug...( CRANBURY N.J. Aug. 4 /- Palatin...)

CRANBURY, N.J., Aug. 4 /PRNewswire-FirstCall/ -- Palatin Technologies, Inc. (NYSE Amex: PTN) announced today that it has received a Notice of Allowance from the U.S. Patent and Trademark Office for its U.S. Patent Application Number 11/694,260, titled "Cyclic Natriuretic Peptide Constructs." Allowed claims cover a family of cyclic compounds that bind to natriuretic peptide receptor A (NPRA), including PL-3994, Palatin's lead heart failure drug candidate. Palatin expects the patent will issue in the second half of 2009; the patent's 20-year term would expire in 2027.

"We are extremely pleased to be getting this patent coverage," said Palatin President and CEO Carl Spana. "PL-3994 and related compounds are first-in-class peptide mimetics with extended half-lives and favorable pharmacokinetic properties. These are the only drugs we are aware of that bind to NPRA and are suitable for subcutaneous administration, with the possibility of once-daily administration."

PL-3994 and the related family of cyclic compounds were discovered entirely in-house and are owned by Palatin. In addition to the allowed U.S. patent application, Palatin has applications pending in selected countries outside the United States and additional U.S. applications covering related compounds.

About PL-3994

Palatin has completed two clinical trials with PL-3994, a Phase 1 trial in healthy volunteers and a Phase 2a trial in patients with controlled hypertension. PL-3994 produced dose-related decreases in blood pressure, increases in plasma cGMP (cyclic guanosine monophosphate), a natural messenger nucleotide, and increases in urine volume and sodium excretion. There were no serious or severe adverse events.

PL-3994 incorporates a novel and proprietary amino acid mimetic developed by scien
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