Biophan CEO Michael Weiner to Present Company's Technology Portfolio at ValueRich Conference; Company's Advanced Solutions for Improved Medical Devices to Be Highlighted in Major International Small Cap Expo
In the presentation, CEO Michael Weiner will highlight some of the Company's advanced technology solutions for the growing global medical device marketplace. Many of these solutions are designed to improve the safety, efficacy, and/or image compatibility of stents, pacemakers and other medical devices for use in Magnetic Resonance Imaging (MRI) environments.
“More than $12 billion worth of pacemakers and other medical devices ship annually, many of which are not safe for use with MRI, and many more devices are not image compatible with MRI systems”
"More than $12 billion worth of pacemakers and other medical devices ship annually, many of which are not safe for use with MRI, and many more devices are not image compatible with MRI systems," Mr. Weiner said. "Safety concerns include the heating of some devices to dangerous levels that can cause serious tissue damage. Because of such risks, patients with certain implants such as pacemakers and neurostimulators are not able to undergo MRI scanning, which can limit their diagnosis and treatment options. Biophan is widely recognized in the U.S. and in Europe as poised to solve these problems by bringing to market a range of effective medical device solutions for improved safety and MRI image compatibility."
Mr. Weiner is scheduled to present examples of these innovations in a general corporate overview scheduled for 10 am today, on Level Four of the Galleria Pavilion, in Room Four, Booth 143. Mr. Weiner will also show examples of the Company's technology for non-invasive diagnosis of in-stent restenosis.
In other developments, Biophan has recently signed a landmark Letter of Intent to Acquire Rights to an innovative new MYO-VAD(TM) Ventricular Assist Device (VAD) technology developed by MYOTECH, LLC, a strategic development partner. The device is planned for commercialization to address a $28 billion market opportunity for cardiac assist devices. Mr. Weiner will discuss this exciting technology at today's conference. In addition, Biophan announced earlier this summer that it signed an agreement to license some of its proprietary MRI related technologies to the leading medical device manufacturer, Boston Scientific (NYSE: BSX).
About ValueRich's International Public Company Assembly and Expo
The ValueRich International Public Company Assembly and Exposition is hosted by ValueRich Inc., publishers of ValueRich Magazine. The conference, also called the Small-Cap Financial Expo, is a two-day global financial and investment industry event in New York City's Jacob K. Javitz Center. This conference is expected to bring executives of 100 small-cap companies together with a range of financial and investment professionals and the financial press. Please visit http://www.valuerichonline.com/ny05/index.php for more information.
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 144 U.S. patents, licenses, or applications. This total includes 41 issued U.S. patents, 9 recently-allowed applications that will issue as patents in the near future, and 94 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 photonics. Biophan has joint development and licensing agreements with Boston Scientific (NYSE: BSX - News) 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.