Patrick A. Gerschel Elected to Protein Polymer Technologies, Inc. Board
of Directors
SAN DIEGO, Aug. 6, 1998 -- Protein Polymer Technologies,
Inc. (Nasdaq: PPTI), today announced the election of Patrick A. Gerschel
to the Company Board of Directors, effective July 7, 1998.
Following a long-standing professional relationship with
Lazard Freres & Company, Mr. Gerschel founded and is currently Chairman
of the investment management firm of Gerschel & Company, Inc., of New
York City. In addition, he is the Chairman and Managing Director of
Santa Rita Resources, Inc.; Chairman of Residential Company of America,
Ltd.; and a Director of Executive RE Insurance Company.
"Mr. Gerschel's strong Wall Street background and diverse
industry experience are an important addition to PPTI's distinguished Board,"
said J. Thomas Parmeter, PPTI's President and Chief Executive Officer.
Protein Polymer Technologies, Inc., a San Diego-based
company, develops high performance biomaterials designed to improve medical
and surgical outcomes. From its inception in 1988, PPTI has been a
pioneer in protein design and synthesis, and as a result has achieved an
exceptional proprietary position in protein-based materials technology.
PPTI's biocompatible polymers have been genetically engineered to enable
cell growth, promote the regeneration of tissue, bond to natural and synthetic
surfaces, and resorb into tissue at controlled rates. Targeted applications
include soft tissue augmentation, tissue adhesives and sealants, tissue
engineering and wound healing, and localized drug delivery. PPTI expects
to enter the clinic with its urethral bulking agent for female stress urinary
incontinence in early 1999.
