PROTEIN POLYMER TECHNOLOGIES RECEIVES FDA 510(K) CLEARANCE
OF NEW INDICATION FOR EMBOLIZATION CONVENIENCE KITS
SAN DIEGO, (CA) -- October 25, 2006 -- Protein Polymer
Technologies, Inc. (OTCBB: PPTI)
a biotechnology device company that is a pioneer in protein
design and synthesis, today announced that it has received
510(k) clearance from the U.S. Food and Drug Administration
(FDA) to market its PVA foam embolization convenience
kits for peripheral vascular indications including treatment
of liver and renal tumors. The products were previously
cleared only for use within the neurovascular system.
PPTI completed a worldwide License Agreement with Surgica
for its products and technology in December 2005, acquiring
the exclusive rights to develop and commercialize Surgica’s
PVA Plus™, MicroStat™ and MaxiStat™ embolization
products. A major use of embolic agents is for the treatment
of inoperable liver cancer, a condition affecting approximately
75,000 people in the United States in 2005, with an annual
market potential of $200 million in the U.S. and $400
million worldwide.
“
Gaining regulatory clearance to market the Surgica products
for additional indications is a key part of our growth
strategy for this business,” said William N. Plamondon
III, Chief Executive Officer of PPTI. “This is
a significant milestone for PPTI, while we continue our
work towards clearance for the other major use of embolization
particles, the treatment of symptomatic uterine fibroids.”
Approximately 70 percent of the estimated 275,000 hysterectomies
performed to treat uterine fibroids in 2005 would have
benefited from the embolization treatment procedure.
PPTI estimates a conservative annual market potential
for uterine fibroid embolization could exceed $200 million
in the U.S. and $300 - $500 million worldwide.
Investor/Media Contact:
Erin Davis
Director of Communications and Investor Relations
Protein Polymer Technologies, Inc.
(858) 558-6064 x 120
Email Contact |
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About
Protein Polmer Technologies
Protein Polymer Technologies, Inc. is a biotechnology company that discovers
and develops innovative therapeutic devices to improve medical and surgical
outcomes. The Company focuses on developing technology and products to be used
for soft tissue augmentation, tissue adhesives and sealants, wound healing
support and drug delivery devices. Protein Polymer Technologies' proprietary
protein-based biomaterials are uniquely tailored to optimize clinical performance
and contain no human or animal components that could potentially transmit or
cause disease. The company is headquartered in San Diego, California. For additional
information about the company, please visit http://www.ppti.com.
To date, PPTI has been issued twenty-six 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 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.
