Protein Polymer, J&J deal

PPTI and J&J's Ethicon Inc. subsidiary extended through year-end the R&D phase of their 1995 collaboration to develop surgical tissue adhesives and sealants for wound closure and related surgical applications.

Ethicon will provide PPTI an additional $400,000 in R&D payments. PPTI must complete the initial R&D phase for the agreement to continue beyond the end of the year. If successful, Ethicon will continue to contribute to R&D funding during product development as well as milestone payments. Total payments to PPTI could reach $10 million. ...