SPINE WAVE EXPANDING EUROPEAN CLININCAL TRIALS OF
NUCORE™ INJECTABLE DISC NUCLEUS IN SURGERY FOR HERNIATED
DISCS
SAN DIEGO,
March 10, 2005 -- Protein Polymer Technologies, Inc.
(OTC Bulletin Board: PPTI) today announced that its
licensee, Spine Wave, Inc., has notified PPTI of its intent
to expand European human clinical testing of NuCoreTM Injectable
Disc Nucleus (IDN), an injectable protein polymer formulation
for repair of spinal discs damaged as a result of injury
or aging. PPTI manufactures NuCore for Spine Wave’s
clinical trials.
NuCore IDN, based on PPTI’s patented tissue adhesive
technology, is injected into the spinal disc as a liquid
that quickly cures to a solid hydrogel, with properties similar
to the natural disc nucleus material. It has the potential
to ultimately be used in a minimally invasive outpatient
procedure to intervene early in the disc degeneration process
and provide relief from chronic low back pain. Avoiding spinal
fusion as a last resort treatment for disc degeneration disease
would be of tremendous benefit to patients, since it destroys
the natural function and mobility of the spine.
Back pain is the leading cause for healthcare expenditures
in the United States. According to spine industry reports,
back pain results in more than $50 billion in direct and
indirect medical expense. Despite the invasive surgery associated
with many spinal procedures, particularly spinal fusion,
the worldwide spinal device market represents more than $3
billion in revenues, growing at a rate of over 25% annually.
Spine Wave is a private, venture-funded company formed in
2001 to develop and commercialize PPTI’s technology
for certain spinal and orthopedic applications. Spine Wave
contracts with PPTI for product development services associated
with the exclusively licensed technology. PPTI also will
receive royalties on the sales of products derived from the
technology.
Contacts:
J. Thomas Parmeter, Ph.D.
Chairman
Protein Polymer Technologies, Inc.
(858) 558-6064
info@ppti.com
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About
Protein Polymer Technologies
Protein Polymer Technologies,
Inc., is a San Diego-based company focused on developing
bioactive devices to improve
medical and surgical outcomes. 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. 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, scaffolds
for wound healing and tissue engineering, and depots
for
local drug delivery. To date, PPTI has been issued
twenty-five U.S. Patents on its core technology with
corresponding
issued and pending patents in key international markets.
Safe Harbor
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
2003
Annual Report Form 10-KSB, 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.
