Palatin Technologies, Inc. Reports Positive Data from an At-home Study of Pre- and Postmenopausal Women with Female Sexual Arousal Disorder Treated with Bremelanotide

CRANBURY, N.J., September 27, 2007 /PRNewswire/ -- Palatin Technologies, Inc. announced today positive results from an at-home Phase 2 trial evaluating bremelanotide for the treatment of female sexual arousal disorder (FSAD). The objective of this exploratory study was to identify potential efficacy endpoints for future studies and to evaluate the safety of intranasal (IN) bremelanotide, relative to placebo and under the conditions of home use, for the treatment of FSAD in pre- and postmenopausal women.

"We are pleased with the overall data from this exploratory trial. The efficacy response was consistent and robust across all domains, particularly desire and arousal. We look forward to discussing the program's further development with the FDA, including future dose-ranging studies to improve the drug's benefit/risk profile," stated Dr. Trevor Hallam, Executive Vice President of Research & Development for Palatin.

Study Highlights

The trial was double-blinded, placebo-controlled and enrolled 76 premenopausal and 87 postmenopausal women who were followed for one month to determine their baseline level of sexual dysfunction. The patients were then randomized to receive IN doses of either placebo or 10 mg of bremelanotide. Changes in their level of sexual function were assessed over a two month period using the Female Sexual Encounter Profile (FSEP), the Female Sexual Function Index (FSFI) and the Female Sexual Distress Score (FSDS). The first dose was given in the clinic. Prespecified changes in blood pressure, as well as emesis, led to mandatory discontinuation. All endpoints were exploratory without preset statistical goals.

Postmenopausal Patient Efficacy Results

In the Intention-to-Treat Population, the bremelanotide treated postmenopausal women showed statistically significant improvements, compared to baseline and placebo, in desire and arousal success rates, and overall satisfaction at one and two months. In these patients, the FSFI domains of arousal, desire and orgasm were statistically significantly improved compared to placebo at one month. The arousal and orgasm domains were statistically significantly improved compared to placebo at one and two months.

Premenopausal Patient Efficacy Results

In the Intention-to-Treat Population, the bremelanotide treated premenopausal women showed statistically significant improvements, compared to baseline, in desire and arousal success rates, and overall satisfaction at one and two months. However, while there was a consistent trend to greater improvement in these measures in bremelanotide patients compared to placebo treated patients, the differences were not statistically significant between bremelanotide and placebo treated patients because the placebo responses were themselves statistically significantly improved compared to baseline.

Pre- and Postmenopausal Safety Results

Adverse events where the incidence was higher than the incidence associated with placebo primarily included nausea, emesis, flushing, blood pressure increase, headache and nasal symptoms. There were no serious adverse events related to bremelanotide. The most common cause for mandatory discontinuation was protocol-specified blood pressure increase criteria.

Preliminary Conclusions

Based on these data, Palatin is encouraged about the use of bremelanotide for FSAD and believes that future studies in patients with FSAD are warranted. Future dose-ranging studies at 10 mg and lower will be necessary to improve the drug's benefit/risk ratio. Palatin plans to engage the FDA in discussions regarding future development later this calendar year.

Dr. Eileen Palace, The Center for Sexual Health, Metairie, LA, stated, "With no approved medical therapies to treat patients with FSAD, I believe the results of the clinical trials with bremelanotide warrant further development." Dr. Palace is an investigator who enrolled patients in the study and a member of the Bremelanotide Scientific Advisory Board.

Palatin's executive management will present additional detail of the results of this study at future scientific meetings.

About Female Sexual Dysfunction (FSD)

FSD includes four disorders, hypoactive sexual desire disorder, female sexual arousal disorder, dyspareunia and anorgasmia. To establish a diagnosis of FSD, these syndromes must be associated with personal distress, as determined by the affected woman. A February 10, 1999 study published in the Journal of the American Medical Association, titled, "Sexual Dysfunction in the United States: Prevalence and Predictors," states that approximately 43 percent of the postmenopausal female population suffers from some form of FSD.

About Palatin Technologies, Inc.

Palatin Technologies, Inc. is a biopharmaceutical company focused on discovering and developing targeted, receptor-specific small molecule and peptide therapeutics. The Company's internal research and development capabilities, anchored by its proprietary MIDAS(TM) technology, are fueling product development. Palatin's strategy is to develop products and then form marketing collaborations with industry leaders in order to maximize their commercial potential. The Company currently has collaborations with AstraZeneca and the Mallinckrodt division of Covidien. For additional information regarding Palatin, please visit the Company's website at http://www.palatin.com.

Forward-looking Statements

Statements about the Company's future expectations, including statements about its development programs, the significance of the results of clinical trials, the conduct of future clinical trials, proposed indications for its product candidates, pre-clinical activities, marketing collaborations, and all other statements in this document other than historical facts, 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. The Company intends that such forward-looking statements shall be subject to the safe harbors created thereby. Palatin's actual results may differ materially from those discussed in the forward-looking statements for various reasons, including, but not limited to the Company's ability to fund development of its technology, ability to establish and successfully complete clinical trials and pre-clinical studies and the results of those trials and studies, dependence on its partners for certain development activities, need for regulatory approvals and commercial acceptance of its products, ability to recommence marketing and gain commercial acceptance of NeutroSpec(R), ability to protect its intellectual property, and other factors discussed in the Company's annual report and Form 10-K for the year ended June 30, 3007 and other periodic filings with the Securities and Exchange Commission. The Company is not responsible for updating for events that occur after the date of this press release.

CONTACT: , Stephen T. Wills, CPA, MST EVP-Operations - Chief FinancialOfficer of Palatin Technologies, +1-609-495-2200, ;Investors and Media, Carney Noensie of Burns McClellan, +1-212-213-0006,, for Palatin Technologies info@palatin.com cnoensie@burnsmc.com

Web site: http://www.palatin.com/

Ticker Symbol: (AMEX:PTN)

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Posted: September 2007

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