Will Focus on Development of Surgical Sealant Applications
Using PPTI's Bioactive Platform Technology
SAN DIEGO, June 26 /PRNewswire-FirstCall/ --
Protein Polymer Technologies, Inc. (OTC Bulletin Board: PPTI), a company
focused on high performance bioactive devices designed for improved surgical
outcomes, announced today the hiring of Donald Kaplan, Ph.D., to coordinate
the development of the company's surgical adhesives and sealants program.
Dr. Kaplan is the former Senior Vice President, Operations and Technology
at U.S. Surgical Corporation where he was responsible for research and
development, quality control, regulatory affairs and manufacturing. U.S.
Surgical, now a subsidiary of Tyco, Inc., is an international market leader in
the development and sale of surgery and wound closure devices. Prior to U.S.
Surgical, Dr. Kaplan was Head of Research and Development at ORMCO, a division
of American Hospital Supply. Dr. Kaplan has an extensive background in
medical devices, biotechnology, polymer chemistry, and materials science.
The Company recently announced a transitional financing to fund its new
strategic plan which includes (1) acceleration of currently active clinical
trials and (2) development and partnering of additional bioactive device
applications based on the company's platform technology. In line with the
strategic plan, Dr. Kaplan was retained as a senior advisor to focus on the
development of surgical sealant and adhesive applications and to coordinate
these activities with the overall strategic plan implementation. In addition
to his technical leadership, Dr. Kaplan will also help identify potential
commercialization and partnership opportunities for the surgical adhesive and
sealants technology platform.
"Dr. Kaplan's extensive technical background and thorough understanding of
the factors that shape demand in the surgical markets add important dimensions
to PPTI's product development interests in the surgical sealants and adhesives
area. There are a number of potential products which address large markets
that can be pursued with our technology, and Dr. Kaplan brings both the
expertise and the experience to help us identify and execute our product
development and strategic partnering plans in this valuable sector," commented
J. Thomas Parmeter, President and Chief Executive Officer of Protein Polymer
Technologies.
Protein Polymer Technologies, Inc., is a San Diego-based 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,
creating an extensive portfolio of proprietary biomaterials for use in the
development of bioactive devices. 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.
SOURCE Protein Polymer Technologies, Inc.
back to top
CONTACT: J. Thomas Parmeter, President, or John E. Flowers, Vice President, Planning and Operations, both of Protein Polymer Technologies, Inc., +1-858-558-6064, info@ppti.com
|