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Palatin Technologies Mutually Terminates License Agreement With AMAG Pharma For Vyleesi

(RTTNews) - Palatin Technologies Inc. (PTN) said it has mutually terminated the January 2017 license agreement which granted AMAG Pharmaceuticals exclusive North American rights to market Vyleesi, the first and only on demand treatment for pre-menopausal women suffering from acquired, generalized, hypoactive sexual desire disorder (HSDD), a condition affecting one in ten premenopausal women.

Under the terms of the termination agreement, Palatin would regain all North American development and commercialization rights for Vyleesi. AMAG would make a $12 million payment to Palatin at closing and a $4.3 million payment to Palatin on March 31, 2021.

Palatin noted that it would assume all Vyleesi manufacturing agreements, and AMAG would transfer all information, data, and assets related exclusively to Vyleesi, including, but not limited to, existing inventory.

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