Palatin licenses certain rights to Richter for bremelanotide

11 September 2014

USA-based Palatin Technologies (NYSE MKT: PTN) and Hungary’s largest drugmaker Gedeon Richter (RICHT: HB) have entered into a collaboration and license agreement, to co-develop and commercialize bremelanotide for female sexual dysfunction (FSD) indications in the European Union, other European countries and additional selected countries.

Under the terms of the accord, Palatin will receive total upfront payments of 7.5 million euros ($9.9 million). Palatin and Richter will each contribute to the European co-development activities for obtaining regulatory approval in Europe. Palatin anticipates that its part of the European co-development activities will be cash neutral through the European regulatory filing stage. All sales, marketing, and commercial activities and associated costs in the licensed territory will be the sole responsibility of Richter.

Deal could net Palatin $117 million

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