Genencor Signs Patent and Know How License Agreement With Protein Polymer Technologies, Inc.

Genencor International, Inc. (NASDAQ: GCOR) announced today it has signed a worldwide exclusive license agreement with Protein Polymer Technologies Inc., (NASDAQ-PPTI.OB) for the manufacture, use and sale of products incorporating PPTI’s proprietary protein polymer design and production technology to develop new types of biomaterials for non-medical applications.

This technology represents a further addition to Genencor’s bio-based materials platform.

Genencor will combine its expertise in gene expression, molecular evolution and design and manufacturing with PPTI’s technology for the construction of repeat sequence genes useful in the production of biomaterials including new high performance fibers, biomaterials, electronic chips, optical switches and other nano-based materials.

“The addition of PPTI’s protein polymer design and production technology to our technology platforms, particularly our proven protein expression capabilities, solidifies our position as a leader in this field,” said Michael V. Arbige, senior vice president of research and development for Genencor.

“These combined capabilities enhance our ability to develop and deliver innovative new protein-based biomaterials at cost-effective, commercial scale for a variety of new growth markets.”

As part of the agreement, Genencor will pay PPTI a licensing fee, milestone payments and royalties. In addition, the company will receive warrants for common shares of PPTI stock.

“The worldwide interest in the development of new biomaterials is expanding at a rapid pace,” said Thomas Pekich, industrial chemicals group vice president for Genencor. “As we pursue opportunities in several markets, this will be an area of significant long-term revenue growth for Genencor.”

PPTI, based in San Diego, Calif., focuses primarily on developing products to improve medical and surgical outcomes. The company has been a pioneer in protein polymer 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.

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