Palatin Terminates Bremelanotide Collaboration With Gedeon Richter

Palatin Technologies and its partner Gedeon Richter have terminated their collaboration agreement to develop bremelanotide to treat female sexual dysfunction following last month’s FDA approval of Sprout Pharamceuticals’ Addyi for the same indication.

The two firms entered the agreement in August 2014. At the time, Palatin received $9.8 million in upfront payments from Richter and $3.1 million upon the initiation of its Phase 3 clinical in the U.S., which started in December 2014. That trial and a similar Canadian one are progressing as planned, Palatin said.

The Cranbury, N.J.-based Palatin has global rights to bremelanotide for FSD and will continue to develop the drug. The company is seeking global and regional licensing collaborations with other companies. — Kellen Owings