8-K

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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION


                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): July 12, 2005


                       PROTEIN POLYMER TECHNOLOGIES, INC.
             (Exact name of registrant as specified in its charter)

          Delaware                      0-19724                  33-0311631

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State or other jurisdiction of        (Commission               (IRS Employer
incorporation or organization)       File Number)            Identification No.)



  10655 Sorrento Valley Road, San Diego, California                92121

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       (Address of principal executive offices)                 (Zip Code)



    Registrant's telephone number, including area code:   (858) 558-6064
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                                 Not Applicable
 -------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)

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ITEM 8.01 OTHER EVENTS.

                  On July 12, 2005, Protein Polymer Technologies, Inc. (the
"Company") entered into a non-binding, letter of intent with Surgica Corporation
("Surgica"). Under the terms of the arrangement, the Company would acquire
Surgica's assets with a combination of the Company's common stock and cash.

                  On July 14, 2005, the Company issued a press release, in the
form attached to this Current Report on Form 8-K as Exhibit 99.1, that details
the above-mentioned arrangement.

ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.

         (c) Exhibits.

                  99.1         Press Release of the Company dated as of July 14,
                               2005.





                                    SIGNATURE

                  Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

                                     PROTEIN POLYMER TECHNOLOGIES, INC.,
                                     a Delaware corporation


Date: July 20, 2005                  By: /s/ J. Thomas Parmeter
                                         ---------------------------------------
                                         J. Thomas Parmeter
                                         Chairman of the Board





                                  EXHIBIT INDEX

Exhibit No.        Description
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99.1               Press Release of the Company dated as of July 14, 2005.

EX-99

                                                                    Exhibit 99.1

                                                           FOR IMMEDIATE RELEASE

           Protein Polymer Technologies Announces Intention to Acquire

                               Surgica Corporation



San Diego, CA - July 14, 2005 - Protein Polymer Technologies, Inc. (OTC Bulletin
Board: PPTI.OB), a biotechnology device company that is a pioneer in protein
design and synthesis, announced today that it has issued a letter of intent to
acquire Surgica Corporation, a medical device company that develops,
manufacturers and markets embolization products. Embolization is a minimally
invasive procedure performed by interventional radiologists, used to treat
uterine fibroids, liver cancer and neurovascular conditions.

Under the terms of the arrangement, PPTI would acquire Surgica's assets with a
combination of PPTI common stock and cash. Assets comprise intellectual property
including one issued patent, product lines and an FDA-approved manufacturing
facility. The company currently has three FDA-approved Polyvinyl Alcohol (PVA)
product lines - PVA Plus(TM), MicroStat(TM) and MaxiStat(TM), with one
additional product under development. Surgica's PVA foam embolization products
are manufactured with a uniform and controlled-size pore structure, in both
spherical and standard particle forms, allowing for even hydration and fluid
suspension properties. These properties provide for more consistent performance,
more precise delivery and less potential for catheter occlusion, improving
procedure efficiency and safety. Embolization products are used to treat a
variety of medical conditions by blocking blood flow to tissues, damaged blood
vessels, vascular malformations and tumors including fibroids.

Surgica's PVA Plus product is currently marketed through a partnership with
AngioDynamics, Inc. (Nasdaq: ANGO), a leader in the field of interventional
radiology.

"The acquisition of Surgica would represent an excellent strategic fit and an
opportunity for PPTI to transition from a research and development company to
one that commercializes innovative products," commented William N. Plamondon
III, Chief Executive Officer of Protein Polymer Technologies. "We believe that
adding Surgica's product lines will allow us to enter the growing embolization
marketplace and will diversify and significantly expand our revenue."

PVA has an exceptional history of safety and utility in medical devices. One of
the most rapidly growing areas for embolization is the non-surgical treatment of
uterine fibroids. Approximately 70 percent of the projected 275,000
hysterectomies performed to treat uterine fibroids in 2005 would benefit from
this minimally invasive procedure. The company estimates that a conservative
annual market potential for uterine fibroid embolization (UFE) could exceed $200
million in the U.S. and $300 - $500 million worldwide.





Embolic agents are also used in the treatment of inoperable liver cancer, a
condition which affects approximately 75,000 people in the United States, with
an annual market potential of $200 million U.S. and $400 million worldwide.

Upon completion of the acquisition, Surgica would become a division of PPTI.
Louis R. Matson, Founder and Chief Executive Officer of Surgica, would assume
the role of division President, reporting to Mr. Plamondon. Closing is subject
to definitive documentation, Board approvals and other customary conditions. The
transaction is expected to be completed in late third quarter or early fourth
quarter 2005.

"Surgica's employees and management have done a tremendous job in building the
value and capabilities of the company. We look forward to welcoming the Surgica
team to PPTI," commented Donald Kaplan, PhD, President and Chief Operating
Officer of PPTI.

About Protein Polymer Technologies, Inc.

Protein Polymer Technologies, Inc. is a biotechnology company that discovers and
develops innovative therapeutic devices to improve medical and surgical
outcomes. The Company focuses on developing technology and products to be used
for soft tissue augmentation, tissue adhesives and sealants, wound healing
support and drug delivery devices. Protein Polymer Technologies proprietary
protein-based biomaterials are uniquely tailored to optimize clinical
performance and contain no human or animal components that could potentially
transmit or cause disease. The company is headquartered in San Diego,
California. For additional information about the company, please visit
www.ppti.com.

To date, PPTI has been issued twenty-six U.S. Patents on its core technology
with corresponding issued and pending patents in key international markets.

This press release contains forward-looking statements that are based on
management's views and expectations. Actual results could differ materially from
those expressed here; further, the Company is not obligated to comment
specifically on those differences. Risks associated with the Company's
activities include raising adequate capital to continue operations scientific
and product development uncertainties, competitive products and approaches,
continuing collaborative partnership interest and funding, regulatory testing
and approvals, and manufacturing scale up. The reader is encouraged to refer to
the Company's 2004 Annual Report Form 10-KSB, and 10KSB/A and other recent
filings with the Securities and Exchange Commission, copies of which are
available from the Company, to further ascertain the risks associated with the
above statements.

Company Contacts:

Erin Davis, (858) 558-6064 x 120

Protein Polymer Technologies, Inc.



Media Contacts:

Bryan deCastro, (631) 495-9177

Carole Boucard, (954) 370-2524

Creative Public Relations