Protein Polymer Technologies Announces Exercise of Warrants

    SAN DIEGO, Aug. 12, 1996 -- Protein Polymer Technologies, Inc.(Nasdaq: PPTI), announced today that it raised over $800,000 upon the completion in June and July 1996 of the exercise of warrants held by former holders of the Company's Series B Preferred Stock.  These holders acquired 322,663 shares of unregistered common stock.  The Company subsequently filed a registration statement under the Securities Act to register resale of these shares.  A copy of the prospectus may be obtained from the Company.
    Protein Polymer Technologies, Inc. is a development stage biomaterials company focused on tissue repair and drug delivery.  PPTI's genetically engineered protein-based biomaterials are specifically designed to control or direct the activities of mammalian cells.  Product candidates being developed include tissue adhesives and sealants, drug delivery systems, wound healing materials and surgical adhesion barriers.  PPTI also markets a line of activated cell culture products under the trade names of ProNectin(R) and SmartPlastic(R).