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Palatin, King terminate sublicense of Palatin, Competitive Technologies patents
By E. Janene Geiss
Philadelphia, Dec. 23 - Palatin Technologies, Inc. and King Pharmaceuticals, Inc. amended the collaborative development and marketing agreement signed in August, terminating King's sublicense of patents under a license agreement between Palatin and Competitive Technologies, Inc., according to an 8-K filing with the Securities and Exchange Commission.
Palatin and King said they concluded the sublicense was not necessary or useful for the development, manufacture, sale or other commercialization of PT-141, a nasally administered peptide in clinical development for the treatment of both male and female sexual dysfunction, the filing said.
Palatin is a Cranbury, N.J., biopharmaceutical company focused on discovering and developing melanocortin (MC)-based therapeutics.
King is a pharmaceutical company based in Bristol, Tenn.
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