Protein Polymer Technologies Inc. Announces an Extension of the Expiration
Date on Its Public Warrants
SAN DIEGO, Dec. 23, 1997 -- Protein Polymer Technologies,
Inc. (Nasdaq: PPTI), announced today that its Board of Directors has approved
the extension of the expiration date of the 1,667,500 warrants issued in
connection with the Company's initial public offering in January 1992.
The extension will be effective as of January 9, 1998 and the new expiration
date of the warrants is March 27, 1998.
Protein Polymer Technologies, Inc., is a development
stage biomaterials company focused on surgical repair and drug delivery.
PPTI's genetically engineered protein-based biomaterials are specifically
designed to control or direct the activities of mammalian cells. Product
candidates being developed include tissue adhesives and sealants, tissue
augmentation bulking agents, drug delivery systems and wound healing materials.
PPTI also markets a line of protein polymer-activated cell culture products
under the trade names of ProNectin(R)
and SmartPlastic(R).
