SAN DIEGO, May 21 /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 May 17, 2001 in New
York City. Reelected to the Company's Board of Directors were: Richard
Adelson, private investor; Edward E. David, Ph.D., technology consultant and
former U.S. Presidential Assistant for Science and Technology; 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. Paul Jones, Ph.D., Vice President, Research & Product
Development (retired), Procter & Gamble Company; J. Thomas Parmeter, Ph.D.,
President and Chief Executive Officer, 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 2002 fiscal year, and
approved the Company's 2002 Stock Option Plan which will replace the Company's
1992 Stock Option Plan set to expire in December 2002.
Protein Polymer Technologies, Inc., is a biotechnology company focused on
developing 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 for repair of spinal discs and other surgical
applications, scaffolds for wound healing and tissue engineering, and depots
for local drug delivery.
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 2001 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.
SOURCE Protein Polymer Technologies, Inc.
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Company News On-Call:
http://www.prnewswire.com/comp/721876.html
CONTACT:
J. Thomas Parmeter, President, or Janis
Neves, Director of Finance & Administration, both of Protein
Polymer Technologies, Inc., +1-858-558-6064, info@ppti.com
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