Notice of Allowance Issued for Method of Treating Cytokine Storm Using Melanocortin-Specific Peptide
Source: PR Newswire (US) CRANBURY, N.J., Nov. 30, 2021 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE American: PTN), a specialized biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin peptide receptor system, today announced that the U.S. Patent and Trademark Office has issued a Notice of Allowance for application No.: 16/927,347. The allowed claims relate to the use of melanocortin peptides to decrease pro-inflammatory cytokine production and expression associated with cytokine storm, a dysregulation of the immune system characterized by undesired cytokine expression.
The current drug market for the various retinopathy drugs was approximately $20 billion in 2021 and is projected to be $27 billion by the end of 2025. There remains a large need for new innovative treatments for retinal diseases, and we believe PL9654, although, early in its development, has a tremendous potential to positively impact patients with retinal disease and [garner] significant part of this very large market. In parallel with our ocular research and clinical development activities, we have been conducting an extensive communication effort targeting ophthalmologists and optometrists. Palatin scientists and collaborators have made presentations at most of the major medical meetings. We have been actively publishing our research. Our presentation describing the protective effects of PL8331 and PL9654 in mouse models of retinopathy presented at the 2021 Annual Meeting of the American Society of Rental Specialist was awarded a top 10 poster designation. Our communication efforts are establishing Palatin as a company developing exciting new treatments for ocular diseases