SAN DIEGO, Sept. 9 /PRNewswire-FirstCall/ --
Protein Polymer Technologies, Inc. (OTC Bulletin Board: PPTI), reports today
that it has received approximately $680,000 in additional capital through the
exercise of warrants for the purchase of common stock.  Each warrant holder
who exercised received an equal number of replacement warrants.  The proceeds
will be used in part to accelerate the Company's clinical testing of its
products for the treatment of female stress urinary incontinence and for the
correction of dermal contour deficiencies.
    "We continue to make progress in developing PPTI's tissue augmentation
products and tissue adhesive technology.  Through our partner, Femcare Ltd.,
European clinical trials of our female stress urinary incontinence product are
in progress.  We are also conducting preclinical animal testing of our tissue
adhesive technology.  Our partner, Spine Wave, Inc., is progressing with the
use of this technology for the treatment of lower back pain due to damaged or
deteriorated spinal disks," said J. Thomas Parmeter, PPTI's President and
Chief Executive Officer.  "In combination with existing cash, anticipated
research and development payments from Spine Wave and the proceeds from the
recent exercise of warrants, we believe that we have sufficient resources to
carry us through the remainder of 2002.  However, our ability to complete U.S.
clinical testing of the incontinence product and the dermal augmentation
product requires the identification of additional sources of working capital.
Over the next few months, the Company will seek to raise additional funds for
continuing operations through private or public offerings, and through
additional collaborative agreements."
    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, scaffolds for wound healing and tissue engineering,
and depots for local drug delivery.
    The securities described in this release will not be, or have not been,
registered under the Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.

    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, the
Company's quarterly reports on Form 10QSB for the periods ended March 31, 2002
and June 30, 2002, 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.

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