PROTEIN POLYMER TECHNOLOGIES REPORTS INCREASE IN CONTRACT REVENUE

SAN DIEGO, June 13, 2002 -- Protein Polymer Technologies, Inc. (OTC Bulletin Board: PPTI), reports today that contract revenue for the first five months of 2002 is greater than had been previously anticipated.  Unaudited financial results through the end of May showed contract revenue of $942,000, almost twice the estimated amount for the period used in prior management projections. As a result, the Company now believes that cash on hand will last through August 2002 instead of June 2002 as previously had been indicated in the Company’s Annual Report. The Company continues to explore new capital alternatives.

The increase is largely due to the Company’s expanded role in Spinal Wave’s Spinal disc repair project, the Injectable Disc Nucleus (IDN). The goal of this project is to develop and commercialize an injectable protein-based formulation for the repair of Spinal discs damaged either by injury or aging. Based on PPTI’s proprietary tissue adhesive technology, the initial product under development has the potential to be utilized in a number of Spinal procedures including discectomy and the treatment of chronic low back pain.

Spinal Wave has licensed PPTI’s tissue adhesive technology for the Spinal and other orthopedic applications. As previously announced, the companies amended their “Supply and Services” contract, with PPTI assuming responsibility for the preclinical studies needed to file an Investigational Device Exemption (IDE) with the Food and Drug Administration (FDA) requesting permission to begin human clinical testing. In addition, PPTI committed to providing increased technical services in support of the IDE filing. To date, these services have been used to a greater degree than originally planned. Assuming additional capital is obtained, PPTI anticipates contract revenue will continue to be greater than earlier projected throughout the remainder of 2002.

Protein Polymer Technologies, Inc., is a biotechnology company focused on developing products to improve medical and surgical outcomes. From its inception in 1988, PPTI has been a pioneer in protein design and synthesis, developing an extensive portfolio of proprietary biomaterials. These genetically engineered biomaterials are high molecular weight proteins, processed into products with physical and biological characteristics tailored to specific clinical performance requirements. Targeted products include urethral bulking agents for the treatment of stress urinary incontinence, dermal augmentation products for cosmetic and reconstructive surgery, surgical adhesives and sealants for repair of Spinal discs and other surgical applications, scaffolds for wound healing and tissue engineering, and depots for local drug delivery.

This press release may contain forward-looking statements that are based on management's 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 Annual Report Form 10-KSB, and 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.

CONTACTS:

J. Thomas Parmeter
President

Janis Y. Neves
Director of Finance & Administration

(858) 558-6064         info@ppti.com