SOURCE: Protein Polymer Technologies, Inc.

July 28, 2006 08:30 ET

Protein Polymer Technologies Announces Termination of Merger Discussions

SAN DIEGO, CA -- (MARKET WIRE) -- July 28, 2006 -- Protein Polymer Technologies, Inc. (OTCBB: PPTI), a biotechnology device company that is a pioneer in protein design and synthesis, announced today that it has discontinued discussions of a merger with Thuris Corporation, a privately held biopharmaceutical company. "Both companies have agreed to discontinue merger discussions at this time," said William N. Plamondon III, Chief Executive Officer of Protein Polymer Technologies.

About Protein Polymer Technologies

Protein Polymer Technologies, Inc. is a biotechnology company that discovers and develops innovative therapeutic devices to improve medical and surgical outcomes. The Company focuses on developing technology and products to be used for soft tissue augmentation, tissue adhesives and sealants, wound healing support and drug delivery devices. Protein Polymer Technologies' proprietary protein-based biomaterials are uniquely tailored to optimize clinical performance and contain no human or animal components that could potentially transmit or cause disease. The company is headquartered in San Diego, California. For additional information about the company, please visit http://www.ppti.com.

To date, PPTI has been issued twenty-six U.S. Patents on its core technology with corresponding issued and pending patents in key international markets.

This press release contains forward-looking statements that are based on management's views and expectations. Actual results could differ materially from those expressed here; further, the Company is not obligated to comment specifically on those differences. Risks associated with the Company's activities include raising adequate capital to continue operations, scientific and product development uncertainties, competitive products and approaches, continuing collaborative partnership interest and funding, regulatory testing and approvals, and manufacturing scale up. The reader is encouraged to refer to the Company's 2004 Annual Report Form 10-KSB, and 10KSB/A and other recent filings with the Securities and Exchange Commission, copies of which are available from the Company, to further ascertain the risks associated with the above statements.

Contact Information

  • Investor/Media Contact:
    Erin Davis
    Director of Communications and Investor Relations
    Protein Polymer Technologies, Inc.
    (858) 558-6064 x 120
    Email Contact