PROTEIN POLYMER TO PRESENT AT TECHVEST’S ANNUAL EUROPEAN CONFERENCE ON OPPORTUNITIES IN U.S. BIOTECH

SAN DIEGO, June 18, 2002 -- Protein Polymer Technologies, Inc. (OTC Bulletin Board: PPTI), today announced that J. Thomas Parmeter, President and CEO, will present a Company update at the TechVest Annual European Conference on Opportunities in U.S. Biotech.

The content of Mr. Parmeter’s remarks will focus on progress in the development and testing of PPTI’s injectable silk-elastin polymer formulations for the treatment of female stress urinary incontinence, and for the treatment of dermal contour deficiencies (facial lines, wrinkles, and scars). He will also comment on developments in PPTI’s tissue adhesive program, including preclinical testing of a unique product for Spinal disc repair, and in vitro studies of new surgical sealants and adhesives. Both of the tissue augmentation products are in FDA-approved clinical trials.

The TechVest European Conference, to be held June 24^th and 25^th in Amsterdam, brings together international investors in biotechnology including venture capitalists, portfolio managers, financial analysts, and investment bankers with more than 60 U.S. biotech companies. The conference is being co-sponsored by ABN-AMRO and Techno Venture Management. PPTI has presented at previous TechVest tissue engineering conferences.

“We look forward to introducing PPTI, its technology and products, to the European financial community. We believe that a number of factors should make our products in development commercially attractive in Europe,” said J. Thomas Parmeter, President and Chief Executive Officer of Protein Polymer Technologies, Inc. “The combination of population demographics and increased demand for improving one’s appearance are rapidly expanding the markets for treatment of incontinence and for dermal contour corrections worldwide. Physicians on both sides of the Atlantic Ocean continue to seek safe, effective, and more durable treatments in response to patient demand. These products are an ideal fit with our goal of providing new classes of high performance biomaterials designed through genetic and protein engineering to meet present and future needs in tissue repair and regeneration.”

Protein Polymer Technologies, Inc. (PPTI) is a San Diego–based company focused on developing products to improve medical and surgical outcomes. From its inception in 1988, PPTI has been a pioneer in protein polymer 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 in addition to its dermal contouring product and urethral bulking agent for the treatment of stress urinary incontinence, are tissue adhesive and sealant formulations for the repair of Spinal disks 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

John E. Flowers
Vice President, Operations

(858) 558-6064      e-mail: info@ppti.com