AZ, Palatin Amend R&D Pact

AstraZeneca and Palatin have amended their January 2007 global licensing and research agreement to discover, develop and commercialize compounds targeting melanocortin receptors.
   
Under the amendment, Palatin has agreed to license additional compounds and associated intellectual property to AZ. Palatin will receive development and regulatory milestone payments if any additional compound advances into human clinical trials, as well as sales milestone payments and royalties if any additional compound is commercialized. AZ is responsible for product commercialization, discovery and development costs.
   
“The collaboration between AstraZeneca and Palatin is very productive and has resulted in valuable scientific and technical advances,” stated Dr. Trevor Hallam, Palatin’s executive vice president for R&D. “We look forward to initiating human clinical trials for obesity.”