Princeton, New Jersey, USA

Palatin Technologies

US biotechnology company that develops melanocortin receptor drugs. It developed bremelanotide, which the US FDA has approved as Vyleesi for premenopausal women with hypoactive sexual desire disorder, and sold its Vyleesi rights to Cosette Pharmaceuticals in December 2023. It has since reported a Phase 2 proof-of-concept trial of bremelanotide given together with tirzepatide in people with obesity, which is not an approved use.

Sale of Vyleesi rights

Palatin states it sold its Vyleesi rights to Cosette Pharmaceuticals, Inc. in December 2023. Its 10-K also states that in June 2025 it entered into a Release and Settlement Agreement with Cosette relating to Vyleesi, under which Palatin kept the right to 20% of a US$3.0 million milestone (US$600,000) payable on the first commercial sale of Vyleesi in Korea; Palatin says it does not expect to receive this payment in the foreseeable future, if at all.[src]

Bremelanotide plus tirzepatide, obesity (unapproved use, company-reported)

Palatin reports a Phase 2 proof-of-concept trial of bremelanotide co-administered with tirzepatide in patients with obesity, with topline results in early 2025 (4.4% weight reduction versus 1.6% for placebo over the eight-week treatment period). The company says it does not currently intend to fund further development of this program on its own and is evaluating partnerships.[src]

Fiscal 2026 revenue

For the year ended June 30, 2026, Palatin recognised US$13.2 million of collaboration and license revenue, made up of US$9.4 million under its Boehringer Ingelheim agreement and US$3.8 million under its Altanispac Labs agreement. It recognised no revenue in fiscal 2025.[src]

Boehringer Ingelheim retinal disease agreement

In August 2025 Palatin entered into a research collaboration, license and patent assignment agreement with Boehringer Ingelheim International GmbH for melanocortin receptor agonists for retinal diseases, with an upfront payment of EUR 2.0 million.[src]