SAN DIEGO, Sept. 9 /PRNewswire-FirstCall/ -- Protein Polymer Technologies,
Inc. (OTC Bulletin Board: PPTI), a biotechnology device company that is a
pioneer in protein design and synthesis, announced today that it is
withdrawing its application for listing of its shares of common stock on the
American Stock Exchange (Amex). The Company's shares will continue to trade
on the OTC Bulletin Board under the symbol "PPTI."
William N. Plamondon III, Chief Executive Officer of Protein Polymer
Technologies, Inc. stated, "The Company has opted to withdraw its application
to list its common shares on the American Stock Exchange. We are continuing
to evaluate all the listing options available to us to determine the most
appropriate marketplace to list our shares of common stock given our size,
growth rate and our business prospects."
The Company may reconsider applying for listing on the Amex at a future
date once a further evaluation of all options has been completed.
About Protein Polymer Technologies, Inc.
Protein Polymer Technologies, Inc. is a biotechnology company that
discovers and develops innovative therapeutic devices to improve medical and
surgical outcomes. The Company focuses on developing technology and products
to be used for soft tissue augmentation, tissue adhesives and sealants, wound
healing support and drug delivery devices. Protein Polymer Technologies'
proprietary protein-based biomaterials are uniquely tailored to optimize
clinical performance and contain no human or animal components that could
potentially transmit or cause disease. The company is headquartered in San
Diego, California. For additional information about the company, please visit
http://www.ppti.com.
To date, PPTI has been issued twenty-six 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 2004 Annual Report Form 10-KSB, and 10KSB/A 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.
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Related links:
http://www.ppti.com
CONTACT:
Investors, Erin Davis of Protein Polymer
Technologies, Inc., +1-858-558-6064, ext. 120; or Media, Bryan
deCastro, +1-631-495-9177, or Carole Boucard, +1-954-370-2524,
both of Creative Public Relations Inc., for Protein Polymer
Technologies, Inc.
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