PROTEIN POLYMER TECHNOLOGIES ELECTS WILLIAM N. PLAMONDON
TO BOARD OF DIRECTORS
SAN DIEGO,
March 22, 2005 -- Protein Polymer Technologies, Inc. (OTC
Bulletin Board: PPTI:OB ) announced today the election
of William N. Plamondon III, President and CEO of R.I.
Heller & Co.,
to its Board of Directors. "Bill Plamondon has been
an advisor to PPTI for the last six months. With his impressive
business management
career having served as CEO for both public and private
companies, Bill brings PPTI a wealth of business knowledge," said
J. Thomas Parmeter, PPTI Chairman and CEO. "His financial
expertise and organizational structuring experience will
add great value to PPTI."
Plamondon is currently President and CEO of R.I. Heller & Co.,
LLC, an interim management firm that provides financial
and organizational restructuring, growth strategies, and
mergers and acquisition execution to companies experiencing
change and challenges.
Previously he served as President and CEO of Budget Rent
a Car, a $2.6 billion dollar public company, capping off
19 years with the company, leaving when Ford sold the company
in 1997. Plamondon also served as President and CEO for
ANC Rental Corporation, a $3.5 billion international company
with 3,200 locations in 83 countries.
Plamondon serves on the boards of private and public companies,
as well as non-profit organizations. He was a founding
member of the National Tourism Organization and formerly
served on the Board of American Car Rental Association
and the International Franchise Association. He currently
serves on the Board of Directors for Tribridge, and the
Board of Trustees of North Central College. He is a seven-year
member of the Executive Advisory Committee for Give Kids
the World, and is an active member of the American Bankruptcy
Institute and the Turnaround Management Association.
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.
