Palatin terminates agreement with Gedeon Richter on bremelanotide

21 September 2015
gedeon-big

US biotech company Palatin Technologies (NYSE: PTN) has terminated the license and collaboration agreement with Hungary's largest pharma company Gedeon Richter (RICHT: HB) for bremelanotide to treat female sexual dysfunction.

All rights and licenses granted to Richter have terminated and reverted back to Palatin, with no payment or reimbursement obligations as a result of this termination.

The license agreement began in August 2014 to co-develop and commercialize bremelanotide for female sexual dysfunction in the European Union, other European countries and additional selected countries. As per the terms of the agreement, Palatin received $9.8 million in total upfront payments from Richter, and a milestone payment of $3.1 million upon the initiation of Phase III clinical trials in the USA.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Pharmaceutical