SAN DIEGO, June 13 /PRNewswire-FirstCall/ -- Protein Polymer Technologies,
Inc. (OTC Bulletin Board: PPTI), reports today that contract revenue for the
first five months of 2002 is greater than had been previously anticipated.
Unaudited financial results through the end of May showed contract revenue of
$942,000, almost twice the estimated amount for the period used in prior
management projections.  As a result, the Company now believes that cash on
hand will last through August 2002 instead of June 2002 as previously had been
indicated in the Company's Annual Report.  The Company continues to explore
new capital alternatives.
    The increase is largely due to the Company's expanded role in Spine Wave's
spinal disc repair project, the Injectable Disc Nucleus (IDN).  The goal of
this project is to develop and commercialize an injectable protein-based
formulation for the repair of spinal discs damaged either by injury or aging.
Based on PPTI's proprietary tissue adhesive technology, the initial product
under development has the potential to be utilized in a number of spinal
procedures including discectomy and the treatment of chronic low back pain.
    Spine Wave has licensed PPTI's tissue adhesive technology for the spine
and other orthopedic applications.  As previously announced, the companies
amended their "Supply and Services" contract, with PPTI assuming
responsibility for the preclinical studies needed to file an Investigational
Device Exemption (IDE) with the Food and Drug Administration (FDA) requesting
permission to begin human clinical testing.  In addition, PPTI committed to
providing increased technical services in support of the IDE filing.  To date,
these services have been used to a greater degree than originally planned.
Assuming additional capital is obtained, PPTI anticipates contract revenue
will continue to be greater than earlier projected throughout the remainder of
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 clinical 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 on 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.

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