PROTEIN POLYMER TECHNOLOGIES SIGNS MATERIALS TRANSFER
AGREEMENT WITH UNIVERSITY OF ARIZONA
SAN DIEGO, (CA) -- January 29, 2007 -- Protein Polymer
Technologies, Inc. (OTCBB: PPTI)
a biotechnology device company that is a pioneer in protein
design and synthesis, today announced that they have
entered into a Materials Transfer Agreement with the
University of Arizona. Under this agreement, PPTI will
provide genetically engineered protein polymers to the
University of Arizona Department of Aerospace and Mechanical
Engineering.
The University of Arizona plans to design, fabricate
and test the properties of protein-based biomaterials
and scaffolds for applications in tissue engineering
and regenerative medicine using PPTI’s protein
polymers.
Under the agreement, if an invention is realized, PPTI
will have the first option to negotiate a worldwide exclusive
or non-exclusive royalty-bearing license agreement to
the University’s inventions or joint inventions
enabled by the use of PPTI’s protein polymers.
“
Providing the materials for testing to the University
of Arizona aligns perfectly with our strategy to develop
partnerships that will take the products of our research
and development to a new level of design and testing
in a variety of applications,” said William N.
Plamondon, CEO of PPTI.
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.
