PROTEIN POLYMER TECHNOLOGIES SIGNS AGREEMENT WITH DEVICE
COMPANY FOR DRUG DELIVERY APPLICATIONS
SAN DIEGO, (CA) -- July 9, 2007 --
Polymer Technologies, Inc. (OTCBB: PPTI ) a
biotechnology device company that is a pioneer in protein
design and synthesis, announced today that it has entered
into an agreement with a multinational medical device
company. According to the terms of the agreement, PPTI
will provide genetically engineered protein polymer biomaterials
for use in drug delivery applications. "This latest
agreement underscores PPTI's ability to develop innovative
and pioneering biomaterials which complement the extensive
array of life enhancing devices and products produced
by our corporate partners," said William N. Plamondon,
Chairman and Chief Executive Officer of PPTI.
PPTI has developed unique protein-based hydrogels for
use in the delivery of a wide variety of therapeutic
agents. The properties of the hydrogels can be designed
to provide ease of injection, optimal drug release, and
complete absorption.
The company recently announced an agreement to provide
its line of surgical sealants to another corporate partner.
These products are intended to reduce the incidence of
post operative surgical incision bleeding as well as
both intestinal fluid and air leaks following gastrointestinal
and pulmonary surgeries.
Investor/Media Contact:
Erin Davis
Director of Communications and Investor Relations
Protein Polymer Technologies, Inc.
(858) 558-6064 x 120
Email Contact |
|
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 2006 Annual
Report Form 10-KSB, and 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.
