SOURCE: Protein Polymer Technologies, Inc.

January 29, 2007 07:00 ET

Protein Polymer Technologies Signs Materials Transfer Agreement With University of Arizona

SAN DIEGO, CA -- (MARKET WIRE) -- January 29, 2007 -- Protein Polymer Technologies, Inc. (OTCBB: PPTI), a biotechnology device company that is a pioneer in protein design and synthesis, today announced that they have entered into a Materials Transfer Agreement with the University of Arizona. Under this agreement, PPTI will provide genetically engineered protein polymers to the University of Arizona Department of Aerospace and Mechanical Engineering.

The University of Arizona plans to design, fabricate and test the properties of protein-based biomaterials and scaffolds for applications in tissue engineering and regenerative medicine using PPTI's protein polymers.

Under the agreement, if an invention is realized, PPTI will have the first option to negotiate a worldwide exclusive or non-exclusive royalty-bearing license agreement to the University's inventions or joint inventions enabled by the use of PPTI's protein polymers.

"Providing the materials for testing to the University of Arizona aligns perfectly with our strategy to develop partnerships that will take the products of our research and development to a new level of design and testing in a variety of applications," said William N. Plamondon, CEO of PPTI.

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.