WEALTH UNIVERSITY

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In PTN on news: *PTN To Receive $5M from AstraZeneca from Amendment to License Agreement*

Palatin Technologies, Inc. (PTN) will receive $5 million from AstraZeneca (AZN) relating to an amendment of its ongoing exclusive research collaboration and license agreement to discover, develop and commercialize compounds that target melanocortin receptors for treatment of obesity and related indications.

Under the terms of the amendment to the parties' collaboration agreement, AstraZeneca has agreed to make a $2.5 million payment upon signing and, subject to completion of certain tasks relating to the program, $2.5 million in the first quarter of calendar year 2010. Under the amendment, the terms of the original collaboration and license agreement signed in January 2007 relating to milestone payments and royalty rates were restructured.

Palatin has completed an exploratory clinical study with a melanocortin receptor compound and has also agreed to conduct additional clinical studies under a clinical trial sponsored research agreement to be funded by AstraZeneca.