Protein Polymer Technologies, Inc. (fka PPTIQ)

[ilenes]

fyi as reported today in the BankruptcyDate.com news:

Protein Polymer Technologies (PPTI) filed for Chapter 7 protection with the U.S. Bankruptcy Court in the District of Delaware, case number 11-11567. The Company, which engages in the research, development and production of bio-active devices to improve medical and surgical outcomes, is represented by Karen B. Skomorucha of Ashby & Geddes. On its corporate site, the Company explains its business strategy: "The first goal is to create near-term value by achieving self-sustaining cash flow. The Company plans to accomplish this goal by: 1) establishing partnerships for marketing and distribution of products; 2) continuing to initiate additional materials transfer agreements with potential partners, and 3) expanding its business focus to additional product applications in tissue adhesives and sealants. Second, PPTI intends to leverage its extensive core technology to identify/create new business opportunities. Third, the Company is expanding investor relations activities, focused particularly on increasing shareholder value and liquidity."