SAN DIEGO, May 1 /PRNewswire-FirstCall/ --
Protein Polymer Technologies, Inc. (OTC Bulletin Board: PPTI) announces the
election of the Company's Board of Directors at its Annual Meeting of
Shareholders held April 25, 2003 in New York City.  Elected to initial terms
were Phillip M. Berman, M.D., Vice President of Eastman Kodak and
Edward G. Cape, Ph.D., Managing Partner of the Sapphire Group LLC.  Reelected
to the Company's Board of Directors were:  Philip J. Davis, Managing Director
(retired), Donaldson, Lufkin & Jenrette; Edward J. Hartnett, Company Group
Chairman (retired), Johnson & Johnson Company; Kerry L. Kuhn, M.D., a Partner
in the Omega Obstetrics and Gynecology Center, Coral Springs, Florida;
J. Thomas Parmeter, Ph.D., President, Protein Polymer Technologies, Inc.; and
George R. Walker, Vice President-Finance (retired), Esso Europe. All Directors
are elected to annual terms.
    In other business, stockholders also ratified Peterson & Company, LLP, as
the Company's independent public accountants for the 2003 fiscal year,
approved increases in the number of shares authorized for the Company's 2002
Stock Option Plan and the Company's 1996 Non-Employee Directors Stock Option
Plan, and approved an increase in the number of authorized common shares to
120 million.
    Phillip Berman, M.D. is a Vice-President of Eastman Kodak, Director of
Business Development for Kodak Health Imaging, and Group Vice President for
Life Sciences and Internet Enterprises.  Prior to Kodak, Dr. Berman was
President and CEO of Lumisys, an imaging technology developer and
manufacturer.  During this period, he established a Lumisys subsidiary,
AuntMinnie.com, which has become a leading internet portal for the medical
imaging professionals.  Lumisys was acquired by Eastman Kodak in December
2000.  Dr. Berman, a board-certified radiologist, is a graduate of Harvard
University and the Medical College of Pennsylvania.
    Edward G. Cape, Ph.D. is currently Managing Partner and Founder of the
Sapphire Group LLC, a merchant banking firm in New York, NY.  Prior to the
Sapphire Group he was a Healthcare Investment Banker at UBS Warburg, focusing
on financings and mergers & acquisitions for companies in the medical
technology and biotechnology sectors.  Dr. Cape holds a Ph.D. in biochemical
engineering from the Georgia Institute of Technology and an MBA from the
Harvard Business School.

    Protein Polymer Technologies, Inc., is a San Diego-based company focused
on developing bioactive products to improve medical and surgical outcomes.
From its inception in 1988, PPTI has been a pioneer in protein design and
synthesis, developing an extensive portfolio of proprietary biomaterials.
These genetically engineered biomaterials are high molecular weight proteins,
processed into products with physical and biological characteristics tailored
to specific clinical performance requirements.  Targeted products include
urethral bulking agents for the treatment of stress urinary incontinence,
dermal augmentation products for cosmetic and reconstructive surgery, surgical
adhesives and sealants, scaffolds for wound healing and tissue engineering,
and depots for local drug delivery.  To date, PPTI has been issued twenty-four
U.S. Patents on its core technology with corresponding issued and pending
patents in key international markets.

    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 2002 Annual Report Form 10-KSB, and other 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.

Link to this page: