Palatin Technologies, Inc. Announces Publication of PT-141 Effects on Female Sexual Behavior in the Proceedings of The National Academy of Sciences.

CRANBURY, N.J. -- Palatin Technologies, Inc. (AMEX: PTN) announced today the publication of a manuscript in The Proceedings of The National Academy of Sciences (PNAS) detailing the results of preclinical studies evaluating PT-141 effects on the sexual behavior of female rats. The research that resulted in the manuscript titled "Selective Facilitation of Sexual Solicitation in the Female Rat by a Melanocortin Agonist" was conducted in collaboration with scientists at Concordia University in Montreal, Quebec Canada. PT-141 is Palatin's lead drug candidate under development for the treatment of both male and female sexual dysfunction (FSD).

The study evaluated PT-141 in two rat models of female sexual behavior. PT-141 had a significant effect on the solicitation behavior of the female animals in both models. Specifically, PT-141 increased the number of solicitations performed by the female in the presence of a male partner. In these animal models, solicitation is a sexual behavior used by females to arouse the male prior to copulation. The effect showed a dose response and did not affect the copulatory behavior of the females.

James Pfaus, Ph.D. Associate Professor at Concordia University and the lead author of the manuscript stated, "I am particularly excited by the results reported here because they show a dramatic effect on solicitation or precopulatory sexual behaviors in animals. This may indicate that PT-141 will have effects on desire in human females. Our current thinking is that potential treatments for FSD need to affect desire if they are going to show broad efficacy in human females."

Carl Spana, Ph.D., President and Chief Executive Officer of Palatin Technologies stated, "We are excited by the potential of PT-141 as a treatment for FSD. The results of this preclinical research presented in the PNAS manuscript, in conjunction with our clinical studies in normal women, indicate that PT-141 is a promising drug development candidate. Our next step is to evaluate PT-141 in women with FSD during a Phase 2 clinical trial that will be initiated in the next few weeks."

About Female Sexual Dysfunction

Female Sexual Dysfunction (FSD) is a multifactorial condition that has anatomical, physiological, medical, psychological and social components. Studies estimate FSD is prevalent in approximately 50% of women over the age of 30 and that greater than 35 million women in the United States may be afflicted with some form of FSD. FSD includes disorders associated with desire, arousal, orgasm and pain.

About PT-141

Palatin's research suggests that PT-141 works through activation of melanocortin receptors in the central nervous system (CNS) rather than acting directly on the vascular system. Activation of melanocortin receptors by PT-141 results in the specific stimulation of vasodilatation in the male and female genitalia. Based on PT-141's CNS site of activity, animal studies and early clinical work may be effective in treating the desire as well as arousal components of FSD. PT-141 is also in development as a treatment for Erectile Dysfunction (ED). Clinical data from phase 2 studies indicates that PT-141 may be effective in treating a broad range of patients suffering from erectile dysfunction. The nasal formulation of PT-141 being developed is as convenient as oral treatments, is more patient friendly than invasive treatments for ED, such as injections and trans-urethral pellets, and appears to result in a more rapid onset of action than is seen following the oral administration of treatments for ED.

About Palatin Technologies, Inc.

Palatin Technologies, Inc. (AMEX: PTN) is a development-stage biopharmaceutical company focused on discovering and developing melanocortin (MC)-based therapeutics. The company is currently conducting clinical investigations with its lead drug PT-141, an MC receptor agonist, for the treatment of male and female sexual dysfunction. Palatin is also developing a product, NeutroSpec(TM), for infection imaging, based on a proprietary radiolabeled monoclonal antibody. Palatin's patented drug discovery platform, MIDAS(TM), streamlines the drug design process with an efficient approach to identify lead compounds from protein targets for drugs. For further information, visit the Palatin web site at www.palatin.com.

Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Palatin's actual results may differ materially from its historical results of operations and those discussed in the forward-looking statements for various reasons, including, but not limited to the Company's ability to carry out its business plan, successful development and commercial acceptance of its products, ability to fund development of technology, the risk that products may not result from development activities, protection of its intellectual property, ability to establish and successfully complete clinical trials for product approval, need for regulatory approvals, dependence on its partners for development of certain projects, and other factors discussed in the Company's periodic filings with the Securities and Exchange Commission. The Company is not responsible for events not updated after the date on this press release.