LOS ANGELES, Nov. 7, 2005 (PRIMEZONE) -- BiomedDiscoveries.com, http://www.BiomedDiscoveries.com, the online source for exclusive investor information in the biotechnology sector, today announced the availability of a new audio interview with Michael Weiner, CEO of Biophan Technologies, Inc. (OTCBB:BIPH) (Frankfurt:BTN), a developer of next-generation biomedical technology. In the interview, Mr. Weiner discusses Biophan's recent completion of the last two phases of a technology development agreement with leading medical device manufacturer Boston Scientific (NYSE:BSX).
Biophan recently announced recognition of $225,000 in current quarter revenues as a direct result of its development agreement with Boston Scientific. The Company anticipates receiving an additional $250,000 in the next quarter under the license agreement with Boston Scientific, executed this past summer.
In the streaming audio interview with BiomedDiscoveries.com, Mr. Weiner updates investors on the Company's outlook to further commercialize its intellectual property portfolio through new technology licenses and other agreements with major medical device manufacturers.
"This recently completed development agreement with Boston Scientific is a major landmark in our Company's young history and validates Biophan's continued progress in developing our technologies for market," Mr. Weiner said. "This agreement was instrumental in demonstrating the capabilities of our technologies, which led to the execution of the license and investment agreements with Boston Scientific. We are pleased to have completed this stage of development, and we look forward to executing additional agreements of this kind with other manufacturers in the future."
The streaming audio interview with Mr. Weiner can be accessed free of charge by visiting http://www.BiomedDiscoveries.com.
About Biophan Technologies
Biophan develops and markets cutting-edge technologies designed to make biomedical devices safe and image compatible with the magnetic resonance imaging (MRI) environment. The Company develops technologies that enable implanted medical systems such as pacemakers, interventional surgical devices such as catheters and guidewires, and devices such as stents to be safely and effectively imaged under MRI. Biophan is developing these same technologies to provide new MRI contrast agents. Other applications include drug delivery and power systems derived from body heat. Four Biophan technologies include advances in nanotechnology and thin film coatings. Committed to growth through innovation and developmental leadership, Biophan and its licensors now hold a total of 156 U.S. patents, licenses, or applications. This total includes 42 issued U.S. patents, 8 recently-allowed applications that will issue as patents in the near future, and 106 pending applications at various stages of examination at the U.S. Patent and Trademark Office, plus international applications. The patents cover areas including nanotechnology (nanomagnetic particle coatings), medical device designs, radio frequency filters, polymer composites, thermoelectric materials for batteries generating power from body heat and optical catheter technologies. Biophan has joint development and licensing agreements with Boston Scientific and NASA's Ames Center for Nanotechnology. Biophan's goal is to make all biomedical devices capable of safely and successfully working with MRI, and delivering other technologies which will improve quality of life. Biophan is also listed on the Frankfurt Stock Exchange under the ticker symbol "BTN." For more information, please visit www.biophan.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements included in this press release may constitute forward-looking statements within the meaning of applicable securities laws. These statements reflect what Biophan anticipates, expects, or believes may happen in the future. Biophan's actual results could differ materially from the outcome or circumstance expressed or implied by such forward-looking statements as a result of a variety of factors including, but not limited to: Biophan's ability to develop its technologies; the approval of Biophan's patent applications; the successful implementation of Biophan's research and development programs; the ability of Biophan to demonstrate the effectiveness of its technology; the acceptance by the market of Biophan's technology and products incorporating such technology, the ability of Biophan to effectively negotiate and enter into contracts with medical device manufacturers for the licensing of Biophan's technology; competition; the ability of Biophan to raise capital to fund its operating and research and development activities until it generates revenues sufficient to do so; and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in Biophan's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Biophan's periodic filings with the SEC, which are incorporated herein by reference. The forward-looking statements contained herein are made only as of the date of this press release, and Biophan undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
About BiomedDiscoveries.com
BiomedDiscoveries.com provides exclusive commentary, research, interviews and other information about the smallcap investment marketplace. BiomedDiscoveries.com strives to provide investors with information and research-based data regarding important individual companies and overall marketplace trends. Resources available on BiomedDiscoveries.com include audio interviews with corporate leaders and respected commentators, as well as technical white papers and other forms of market and investment analysis. It is located at http://www.BiomedDiscoveries.com.