Biophan Further Expands Intellectual Property Portfolio to 127 U.S. Issued and Pending Patents and 46 International Patents
|Company Executes Strategy to Maintain Commanding Lead in MRI Safety and Visualization for Medical Devices and Innovations in Extended Battery Life|
“Biophan appears to dominate the patent coverage of solutions for these MRI safety and visualization problems, at a time when industry interest in finding solutions is increasing”
Biophan Technologies, Inc. (OTCBB: BIPH), a developer of next-generation medical technology, today announced that its intellectual property portfolio has grown by an additional 13 patent applications, to reach 127 U.S. issued or pending patents. The new patents cover Biophan technologies that provide improvements in Magnetic Resonance Imaging (MRI) safety and imaging of implanted devices and surgical tools, as well as technologies for implantable power sources using body heat. Additionally, the Company has 46 issued or pending international patents.
These new applications expand Biophan's coverage of nanomagnetic and other device coatings, specialized dielectric materials, biothermal power sources, certain photonic diagnostics and therapies, and other innovations. A patent application focusing on the use of photonic technology for MRI sensing coils that operate inside body cavities has recently been allowed by the U.S. Patent and Trademark Office (USPTO) for issuance in the near future.
A second application allowed by the USPTO covers an active compensation component designed for use with pacemakers and similar devices to eliminate the potentially lethal risk from pulsed magnetic fields in MRI by eliminating the ability of these fields to cause ventricular fibrillation during an MRI procedure. This additional capability to eliminate the danger of induced voltages can allow pacemaker manufacturers to develop devices that are truly safe with MRI. Currently, all pacemakers are still contraindicated for use with MRI. Building Biophan's solutions into future devices may allow patients to safely undergo MRI scans in the future.
The new patent applications extend Biophan's nanotechnology patents, as well as patents related to other technologies that solve critical MRI safety and imaging problems related to the use of MRI with medical devices such as pacemakers, defibrillators, neurostimulators, stents, catheters, and guidewires.
A growing body of published medical research has drawn attention to the need for improved safety and visualization of MRI imaging with these devices. Leading medical device makers, such as Medtronic Inc. and Guidant Corp., as well as the FDA, have publicly expressed the need for technology solutions that will make the use of MRI both safe and effective for the increasing number of patients receiving these devices.
A recent issue of the medical journal, Pacing and Clinical Electrophysiology (PACE), reported on the increasing recognition throughout the medical community of the need to develop pacemakers and other devices that can be safely used within the powerful electromagnetic environments of MRI systems.
"Biophan appears to dominate the patent coverage of solutions for these MRI safety and visualization problems, at a time when industry interest in finding solutions is increasing," said Michael Weiner, CEO of Biophan. "We are seeing confirmation of this by the number of companies we are in discussions with who have expressed interest in our technology, in addition to the deals on specific devices that we are close to closure on and have previously disclosed."
About Biophan Technologies
Biophan develops and markets cutting-edge technologies designed to make biomedical devices safe and compatible with the magnetic resonance imaging (MRI) environment. The Company develops enabling technologies for implanted medical systems such as pacemakers and interventional surgical devices such as catheters, guidewires, stents, and other implants to allow them to be safely and effectively imaged under MRI. The technology is also being used to create MRI contrast agents, and has expanded to include other applications, such as 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 127 U.S. patents, licenses, or applications. This total includes 36 issued U.S. patents, 9 recently-allowed applications that will issue as patents in the near future, and 82 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), radio frequency filters, polymer composites, thermoelectric materials for batteries generating power from body heat, and photonics. Biophan has joint development arrangements with Boston Scientific (NYSE: BSX) 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. 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.