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Palatin Technologies, Inc.

Licensing agreement extended for European marketing rights to infection agent

Published in Telemedicine Week, July 12th, 2005

Mallinckrodt (TYC) and Palatin Technologies, Inc. (PTN) announced that they have extended their marketing agreement for Palatin's infection imaging agent, NeutroSpec (Technetium Tc-99m fanolesomab), to include exclusive marketing and distribution rights in Europe.

The original agreement granted Mallinckrodt an exclusive license to market and distribute NeutroSpec worldwide, excluding Europe. Under the terms of the amendment, Mallinckrodt and Palatin will jointly develop and commercialize NeutroSpec for all global markets. Tyco and Palatin are working to develop an international regulatory strategy. Financial terms of the amended agreement were not disclosed.

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