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2002 MAR 14 - (NewsRx.com & NewsRx.net) -- Protein Polymer Technologies, Inc., (PPTI) has received approximately $1 million in additional capital through the exercise of warrants for the purchase of common stock.
The proceeds will be used in part to accelerate the company's clinical testing of its product for the treatment of female stress urinary incontinence.
"We continue to make progress in developing the PPTI's tissue augmentation products and tissue adhesive technology. Through our partner, Femcare Ltd., we have initiated the European clinical trials of our female stress urinary incontinence product. We have recently initiated 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 CEO. "However, our ability to complete U.S. clinical testing ...