New York, December 21, 2023 – Palatin Technologies, Inc. (NYSE American: PTN) has completed the sale of Vyleesi® to Cosette Pharmaceuticals, a US-based, specialty pharmaceutical company, for up to $171 million. Vyleesi is the first and only as-needed FDA-approved treatment for premenopausal women with acquired, generalized hypoactive sexual desire disorder (HSDD).

Carl Spana, Ph.D., President and Chief Executive Officer of Palatin, said: “Vyleesi is an important product for the millions of women suffering from HSDD. Cosette is committed to women’s healthcare, and we are pleased they will make Vyleesi a priority in their current product portfolio.”


Under the terms of the agreement, Palatin will receive a $12 million upfront payment. Palatin is also eligible to receive up to $159 million contingent upon the achievement of sales milestones ranging from annual net sales of $15 million to $200 million.

Commenting on the deal, Apurva Saraf, President and Chief Executive Officer of Cosette, said, “Vyleesi is an important addition to our rapidly expanding women’s health platform. HSDD is the most prevalent form of female sexual dysfunction, affecting approximately six million premenopausal women in the U.S. Through this acquisition, our mission is to give hope, support, and a safe and effective treatment option for millions of women.”

About Palatin

Palatin is a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor systems, with targeted, receptor-specific product candidates for the treatment of diseases with significant unmet medical need and commercial potential. Palatin’s strategy is to develop products and then form marketing collaborations with industry leaders to maximize their commercial potential.

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