CRANBURY, N.J., Sept. 28, 2015 /PRNewswire/ — Palatin Technologies, Inc. (NYSE MKT: PTN), a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential, today announced that a poster entitled “Conditional cardiomyocyte-restricted Corin KO mice demonstrate enhanced cardiac hypertrophy and pro-fibrotic gene activation in response to TAC and PL-3994 – a novel selective GC-A receptor peptide agonist rescues the phenotype” was presented on Sunday, September 27, at the 2015 Heart Failure Society of American Annual Meeting in Washington, DC. PL-3994 is a synthetic natriuretic peptide receptor-A agonist developed by Palatin for treatment of heart failure and other indications.
The research work was done at Temple University School of Medicine in Philadelphia under the direction of Daniel L. Dries, M.D., and investigated the role of cardiomyocytes, corin and cardiac natriuretic peptide signaling in heart failure and the potential of treatment with PL-3994. The data presented demonstrated that corin and cardiac natriuretic peptides play an important role in regulating cardiac hypertrophy and fibrosis, and that treatment with PL-3994 significantly reduced cardiac hypertrophy and pro-fibrotic and inflammatory gene activation.
Corin is a protease which processes natriuretic peptides from their inactive form to their active form. About 13% of Black Americans are heterozygous for a loss-of-function mutation in the corin gene which can lead to insufficient natriuretic peptide signaling. The poster presented data utilizing a cardiomyocyte conditional corin knock-out mouse model developed in Dr. Dries’ laboratory.
The research work was conducted as part of sponsored research agreement between Temple University School of Medicine and Palatin Technologies. Daniel L. Dries, M.D. and Bin Xu, Ph.D. from Temple University School of Medicine and John Dodd, Ph.D. and Carl Spana, Ph.D. of Palatin were among authors on the poster.
PL-3994, which has undergone Phase 1 and Phase 2A safety trials, is under development by Palatin for heart failure indications. Contingent on adequate available funds, a multiple ascending dose Phase 2 study in patients with heart failure, including patients with corin loss-of-function mutations, is planned for 2016 to evaluate safety, symptom relief and pharmacokinetic and pharmacodynamic endpoints.
About Palatin Technologies, Inc.
Palatin Technologies, Inc. is a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics 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 in order to maximize their commercial potential. For additional information regarding Palatin, please visit Palatin’s website at www.Palatin.com.
Statements in this press release that are not historical facts, including statements about future expectations of Palatin Technologies, Inc., such as statements about clinical trial results, potential actions by regulatory agencies including the FDA, regulatory plans, development programs, business development and licensing programs, proposed indications for product candidates and market potential for product candidates, 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 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, entering into marketing and distribution agreements, 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.