CRANBURY, N.J., May 26, 2016 /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, announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Patent Application Serial Number 14/514,472 (the '472 application). The allowed composition of matter claims are to a broad family of melanocortin receptor-1 (MC1r) peptides with potential application in inflammatory disease-related and autoimmune indications.
Carl Spana, Ph.D., President and CEO of Palatin, commented, "Our MC1r peptide drug candidates, which are covered by the allowed patent, are highly specific, with substantially greater binding and efficacy at MC1r than at other melanocortin receptors. Our MC1r program has the potential to treat a number of diseases, including inflammatory bowel disease, nephritis (inflammation of the kidneys), rheumatoid arthritis, ocular indications such as uveitis and dry eye, and dermatologic indications. We are pleased with this important extension of our patent portfolio."
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