SOURCE: Protein Polymer Technologies, Inc.

May 10, 2006 16:00 ET

Protein Polymer Technologies Submits 510(k) Application for Expanded Indications of Its Embolization Products

SAN DIEGO, CA -- (MARKET WIRE) -- May 10, 2006 -- Protein Polymer Technologies, Inc. (OTC BB: PPTI), a biotechnology device company that is a pioneer in protein design and synthesis, announced that it has filed a 510(k) application with the U.S. Food and Drug Administration (FDA) for clearance to expand the labeled indications of Surgica's embolization products to include treatment of hypervascular tumors including uterine fibroids, liver and renal tumors.

Surgica's proprietary foam embolization products are currently cleared for use in the endovascular management of neurovascular arteriovenous malformations and neoplastic lesions when presurgical devascularization is desirable. Surgica has three FDA-cleared polyvinyl alcohol (PVA) based embolization products -- PVA Plus™, MicroStat™ and MaxiStat™ and one additional product under development, Blocker™.

"The submission of this application is an important milestone in the regulatory process for advancing the commercialization of Surgica's proprietary embolization products," commented William N. Plamondon III, Chief Executive Officer of PPTI. "This submission further demonstrates our commitment to the use of embolization products to treat a variety of conditions. The expanded indications will allow us to significantly increase our market potential."

PPTI completed a worldwide License Agreement with Surgica for its products and technology in December 2005, acquiring the exclusive rights to develop and commercialize Surgica's embolization products.

An estimated 70 percent of the approximately 275,000 hysterectomies performed to treat uterine fibroids in 2005 would have benefited from this procedure. PPTI estimates a conservative annual market potential for uterine fibroid embolization could exceed $200 million in the U.S. and $300 - $500 million worldwide.

Embolic agents are also used in the treatment of inoperable liver cancer, a condition affecting approximately 75,000 people in the United States in 2005, with an annual market potential of $200 million in the U.S. and $400 million worldwide.

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

  • Media Contact:
    Bryan deCastro
    (631) 495-9177

    Carole Boucard
    (954) 776-1114
    Creative Public Relations

    Investor Contact:
    Erin Davis
    (858) 558-6064 x 120
    Protein Polymer Technologies, Inc.