Protein Polymer Receives Additional Capital

Apr 02, 2001, 01:00 ET from Protein Polymer Technologies, Inc.

    SAN DIEGO, April 2 /PRNewswire/ -- Protein Polymer Technologies, Inc.
 (OTC Bulletin Board:   PPTI), today announced that the Company has received
 approximately $1.9 million in new capital from a combination of exercised
 warrants and the issuance of convertible notes.  The exercised warrants were
 issued in conjunction with Series G Preferred equity financing, and converted
 into common stock at a conversion price of $0.50 per share.  The convertible
 notes, payable in either cash or stock at the Company's option, have an
 interest rate of 7% per annum, and become payable on August 31, 2001.  The
 notes were issued to current shareholders.
 
     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,
 developing an extensive portfolio of proprietary biomaterials.  Targeted
 products include urethral bulking agents for the treatment of stress urinary
 incontinence, dermal augmentation products for cosmetic and reconstructive
 surgery, surgical adhesive and sealant formulations for spinal disc nucleus
 replacement, 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 2000 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.
    SAN DIEGO, April 2 /PRNewswire/ -- Protein Polymer Technologies, Inc.
 (OTC Bulletin Board:   PPTI), today announced that the Company has received
 approximately $1.9 million in new capital from a combination of exercised
 warrants and the issuance of convertible notes.  The exercised warrants were
 issued in conjunction with Series G Preferred equity financing, and converted
 into common stock at a conversion price of $0.50 per share.  The convertible
 notes, payable in either cash or stock at the Company's option, have an
 interest rate of 7% per annum, and become payable on August 31, 2001.  The
 notes were issued to current shareholders.
 
     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,
 developing an extensive portfolio of proprietary biomaterials.  Targeted
 products include urethral bulking agents for the treatment of stress urinary
 incontinence, dermal augmentation products for cosmetic and reconstructive
 surgery, surgical adhesive and sealant formulations for spinal disc nucleus
 replacement, 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 2000 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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http://www.ppti.com