Eastman Kodan Executive Joins PPTI as Executive Vice President for Corporate
Strategy
SAN DIEGO, CA – July 16, 2003 -- Protein Polymer Technologies, Inc.
(OTC Bulletin Board: PPTI), a Company focused on development of high performance
bioactive devices designed for improved surgical outcomes, announced today
that Philip M. Berman, M.D., 49, has joined the Company as Executive Vice
President for Corporate Strategy. Dr. Berman, a recently elected member
of PPTI’s Board of Directors, will help the Company define and execute
its new strategic plan developed in conjunction with a recent financing.
The Company closed a financing of $3.25 million in May from a group of institutional
and accredited investors including the Johnson and Johnson Development Corporation.
Dr. Berman will work with the Company to identify and negotiate potential
corporate partnerships and joint venture opportunities for specific product
platforms.
Dr. Berman is a former Eastman Kodak Vice-President, Director of Business
Development for Kodak Health Imaging, and Group Vice President for Life
Sciences and Internet Enterprises. In this capacity, Dr. Berman was responsible
for defining and managing the execution of all mergers and acquisitions,
joint ventures, development agreements, minority investments, intellectual
property licensing, and risk management for the Health Imaging Group.İ Prior
to Kodak, Dr. Berman was the President and CEO of Lumisys, Inc. where he
was responsible for repositioning corporate strategy and product development
that led to its acquisition by Kodak in January 2000. Prior to Lumisys,
Dr. Berman was a co-founder of CompuRAD which completed an Initial Public
Offering and was subsequently sold. At Protein Polymer, Dr. Berman will
apply his extensive medical knowledge and business development experience
toward identifying additional product and business opportunities within
the Company’s broad technology platform which has potential applications
beyondİ 1st generation products currently in clinical trials.
ìDr. Bermanís medical background and business development skills provide
the focused leadership required to further leverage PPTIís extensive core
technology by identifying new product applications and creating new strategic
business arrangements to finance their development,î commented J. Thomas
Parmeter, President and Chief Executive Officer of Protein Polymer Technologies.
Protein Polymer Technologies, Inc., is a San Diego-based company focused
on developing bioactive devices to improve medical and surgical outcomes.İ
From its inception in 1988, PPTI has been a pioneer in protein design and
synthesis, creating an extensive portfolio of proprietary biomaterials for
use in the development of bioactive devices.İ These genetically engineered
biomaterials are high molecular weight proteins, processed into products
with physical and biological characteristics tailored to specific clinical
performance requirements.İ 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,
scaffolds for wound healing and tissue engineering, and depots for local
drug delivery.İ To date, PPTI has been issued twenty-four U.S. Patents on
its core technology with corresponding issued and pending patents in key
international markets.
CONTACTS:
J. Thomas Parmeter
President
John E. Flowersİİİİİİİİİİİ
Vice President, Planning and Operations
(858) 558-6064 e-mail: info@ppti.com
