Biophan Reaches Major Milestone in Intellectual Property; Expands Biomedical Technology Portfolio to Total of 80 Patents, Licenses or Applications

ROCHESTER, N.Y.--(BUSINESS WIRE)--Aug. 20, 2004--

Count Represents 30% Growth of Technology Portfolio in 2nd Quarter

“The future and success of Biophan lies in the commercialization of critically important and far-reaching science and technology. Biophan is at the forefront of this development”

Biophan Technologies, Inc. (OTC BB: BIPH), a developer of next-generation biomedical technology, today announced that the company's technology portfolio has swelled to 80 different patents, and pending patent applications either owned by Biophan or its licensors. The portfolio of groundbreaking technologies represents the world's most significant collection of intellectual property focused upon extending the safety, functionality, and compatibility of vital biomedical devices with magnetic resonance imaging (MRI), one of medicine's most important diagnostic imaging tools. The announcement was made by Michael Weiner, president and CEO of Biophan.

The Company has expanded its advanced technology portfolio 30% in the last 3 months alone, and the steep rate of technology acquisition is continuing. Biophan's patents and licenses involve several cutting-edge fields of research and development, including nanotechnology and biothermal battery technology.

"The future and success of Biophan lies in the commercialization of critically important and far-reaching science and technology. Biophan is at the forefront of this development," said Mr. Weiner. "It is extraordinary that we have been able to amass so much cutting-edge technology in such a short time, and we are excited by the vast market opportunities available for the products we're developing with this world-class portfolio of intellectual property." Our technology has the potential to impact millions of lives as biomedical devices are made safe for use with MRI, or are powered by biothermal batteries, or enhanced by drug delivery innovations.

Biophan recently announced a joint development agreement with the NASA Ames Research Center for Nanotechnology, Moffet Field, CA, for the characterization and development of high-density, nano-engineered thermoelectric materials for use with implantable medical devices. For more investor-specific information about Biophan, or to view streaming video of Biophan's Michael Weiner and NASA's David Lackner announcing the agreement, go to Trilogy Capital's homepage at www.trilogy-capital.com.

About Biophan Technologies

Biophan Technologies develops and markets cutting-edge technologies designed to make biomedical devices safe and compatible with magnetic resonance imaging (MRI) equipment. The Company develops enabling technologies for implanted medical systems such as pacemakers, and interventional surgical devices such as catheters and guidewires, as well as stents and other implants that can be safely and effectively imaged under MRI. The technology is also being used to create enhanced MRI contrast agents. Committed to growth through innovation and developmental leadership, Biophan and its licensors have 19 issued U.S. patents and 61 patents pending, in areas including nanotechnology (nanomagnetic particle coatings), radio frequency filters, polymer composites, biothermal batteries, and photonics. Biophan's technology will help realize its goal of one day making all biomedical devices capable of safely and successfully working with MRI. 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. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: the development of Biophan's MRI technologies; the approval of Biophan's patent applications; the successful implementation of Biophan's research and development programs; the acceptance by the market of Biophan's products; competition 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. 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.