Biophan's Intellectual Property Portfolio Expands to 140 Total U.S. Issued and Pending Patents, a 10% Increase
|-- Aggressive Patent Strategy Seeks to Maintain Biophan's Commanding Lead in Magnetic Resonance Imaging (MRI) Safety and Visualization of Medical Devices|
“Biophan's business strategy provides solutions to major medical device manufacturers through licensing agreements and strategic joint ventures. The goal is to generate revenue from the several multi-billion dollar segments of the biomedical device marketplace that currently have problems of compatibility and safety working with MRI”
Biophan Technologies, Inc. (OTCBB: BIPH), a developer of next-generation medical technology, has announced further expansion of its intellectual property portfolio in recent weeks with 13 new applications filed - resulting in a 10% growth - to a total of 140 U.S. issued or pending patents, plus international patents.
The continued growth in Biophan's portfolio supports its patent thicket strategy, which seeks to grow and solidify the Company's position as a leading force in technology to improve MRI-related safety and image compatibility of implanted and interventional medical devices. Biophan's assertive moves are intended to maintain its compelling lead in these technologies as this important medical device feature grows in demand and adoption.
"Biophan's business strategy provides solutions to major medical device manufacturers through licensing agreements and strategic joint ventures. The goal is to generate revenue from the several multi-billion dollar segments of the biomedical device marketplace that currently have problems of compatibility and safety working with MRI," stated Michael Weiner, Biophan CEO.
The new applications cover manufacturing the high-voltage leads used with implantable cardioverter-defibrillators (ICDs), when used in an MRI environment; various nanomagnetic materials, design details of conductive leads and the use of nanomagnetic material to shield them from MRI-related energy; and patent applications recently licensed in from Aachen Resonance for the visualization of stents.
"Our marketing and sales strategy is designed to ensure comprehensive protection of Biophan's assets with the broadest possible rights to generate revenues and resulting shareholder value. We will continue to vigorously build and protect our innovations to sustain and foster Biophan's long term financial return on investment, and to provide the healthcare industry with these critically needed solutions. A strong patent portfolio encourages adaptation of our technology by industry leaders, so as to provide them with a sustainable competitive advantage," Mr. Weiner continued.
The Biophan patent portfolio, including those exclusively licensed to Biophan, now stands at 38 issued patents, 9 allowed patents, and 93 applications at various stages of prosecution in the USPTO, totaling 140, up from 127 about a month ago. This represents an additional 10% increase.
Biophan provides technologies that make implantable medical devices safe and imageable by Magnetic Resonance Imaging (MRI) systems. These include pacemakers, cardio-defibrillators, neurostimulators, drug pumps, stents, vena cava filters, and many others, as well as interventional medical devices, such as catheters and guidewires. The Company markets these solutions to major medical device makers worldwide for incorporation into their products.
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 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 140 U.S. patents, licenses, or applications. This total includes 38 issued U.S. patents, 9 recently-allowed applications that will issue as patents in the near future, and 93 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.