Palatin has attracted key industry-leading companies to facilitate the development and marketing of its products:

AstraZeneca AB

In January 2007, Palatin entered into an exclusive global licensing and research collaboration agreement with AstraZeneca AB to discover, develop and commercialize small molecule compounds that target MC receptors for treatment of obesity, diabetes and related metabolic syndrome.  The collaboration is based on Palatin’s MC receptor obesity program and includes access to compound libraries, core technologies and expertise in MC receptor drug discovery and development. 

Under the terms of the agreement, Palatin received an up-front payment of $10 million from AstraZeneca and is eligible for milestone payments totaling to $300 million, with up to $180 million contingent upon development and regulatory milestones and the balance on achievement of sales targets, together with the payment of royalties on sales of approved products. AstraZeneca assumed responsibility for product commercialization, product discovery and development costs, with both companies contributing scientific expertise in the research collaboration.  In addition, Palatin is providing research services to AstraZeneca at a contractual rate per full-time-equivalent employee.