Waleed, we'll need more information about your problem.
I am not sure what 'Ipatch' is. I don't recognize it as a Cisco network management product and google searching doesn't come up with network management tool references.
SNMPv3 is a bit more complicated than SNMPv1 or 2c. It appears from the partial debug that you're doing SNMPv3 with authPriv (authentication AND encryption). However, I can't tell if you're doing MD5 or SHA authentication. Nor can I tell what type of encryption.
It sounds like you need to do more configuration on your 'Ipatch server' to make SNMPv3 work for it, because it seems properly configured between the Prime server and the managed device.
Which Prime product are you using? Prime Infrastructure? What version?