Palatin Technologies, Inc. announced the successful completion of a preclinical study of its new drug used to treat severe asthma, an illness that kills more than 4,000 people in the United States every year.

Palatin Technologies, Inc. said that during the study, PL-3994 produced a relaxation of muscle in the tissue of air passages in subjects tested, including humans, rats and guinea pigs. The results of the study may indicate that PL-3994 can be used as a bronchodilator in patients that don’t respond to standard treatment for severe asthma.

Trevor Hallam, the Executive Vice President of Palatin Technologies, Inc., said “We are excited to expand our PL-3994 program into acute severe asthma, a serious unmet medical need. Many asthma patients that go to the emergency department with an exacerbation of symptoms have become inadequately responsive to standard bronchodilators such as Beta 2-agonists used in rescue inhalers.”

Palatin Technologies, Inc. said that the next step in the approval process for PL-3994 is to file an Investigational New Drug (IND) application with the Food and Drug Administration (FDA). If the FDA approves the IND application, then Palatin Technologies, Inc. will start clinical trials with PL-3994 in late 2010.

For more information on the company, go to www.palatin.com