Palatin Technologies, Inc.

Palatin Technologies to Receive $5 Million from AstraZeneca

Published in Obesity and Diabetes Week, October 12th, 2009

Palatin Technologies, Inc. (NYSE Amex: PTN) announced that it will receive $5 million from AstraZeneca relating to an amendment of its ongoing exclusive research collaboration and license agreement to discover, develop and commercialize compounds that target melanocortin receptors for treatment of obesity and related indications.

Under the terms of the amendment to the parties' collaboration agreement, AstraZeneca has agreed to make a $2.5 million payment upon signing and, subject to completion of certain tasks relating to the program, $2.5 million in the first quarter of calendar year 2010. Under the amendment, the terms of the original collaboration and license...

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Source: Obesity and Diabetes Week (2009-10-12)

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