SOURCE: Protein Polymer Technologies, Inc.

July 09, 2007 07:00 ET

Protein Polymer Technologies Signs Agreement With Device Company for Drug Delivery Applications

SAN DIEGO, CA--(Marketwire - July 9, 2007) - Protein Polymer Technologies, Inc. (OTCBB: PPTI) a biotechnology device company that is a pioneer in protein design and synthesis, announced today that it has entered into an agreement with a multinational medical device company. According to the terms of the agreement, PPTI will provide genetically engineered protein polymer biomaterials for use in drug delivery applications. "This latest agreement underscores PPTI's ability to develop innovative and pioneering biomaterials which complement the extensive array of life enhancing devices and products produced by our corporate partners," said William N. Plamondon, Chairman and Chief Executive Officer of PPTI.

PPTI has developed unique protein-based hydrogels for use in the delivery of a wide variety of therapeutic agents. The properties of the hydrogels can be designed to provide ease of injection, optimal drug release, and complete absorption.

The company recently announced an agreement to provide its line of surgical sealants to another corporate partner. These products are intended to reduce the incidence of post operative surgical incision bleeding as well as both intestinal fluid and air leaks following gastrointestinal and pulmonary surgeries.

About Protein Polymer Technologies, Inc.

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 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
    (858) 558-6064 x 120
    Protein Polymer Technologies, Inc.