Biophan Announces Issuance of Two New Patents to Further Expand Technology Lead in Key Global Biomedical Industry Segments; Company's Intellectual Property Portfolio Now Totals 212 Patents Issued and Pending Worldwide
The newly issued patents relate to important issues of safety and compatibility of biomedical devices with Magnetic Resonance Imaging (MRI), one of several market segments where Biophan has developed breakthrough technology solutions. The additional patents increase the Company's potential for licensing revenue, and eventually could be implemented as important new therapeutic technologies for the healthcare industry.
“We're excited to announce these latest patents, which further reinforce Biophan's position at the forefront of biomedical innovation”
"We're excited to announce these latest patents, which further reinforce Biophan's position at the forefront of biomedical innovation," said Michael Weiner, CEO of Biophan Technologies. "Biophan continues to develop innovative solutions for many global market areas, including MRI safety. These latest patents strengthen our toolkit of solutions to enable medical device manufacturers to make virtually any device safe and image compatible for use with MRI. These can represent life saving innovations for patients with devices such as pacemakers, defibrillators, and neurostimulators, which are currently contraindicated for use with MRI."
One of the new patents, US patent 6,968,236, covers a "cardiac electrode termination pair" designed to be particularly compatible to MRI environments. The patent covers novel "tip" or "ring" electrodes made of a bio-compatible ceramic base that can house pulse-delivering and/or sensing components, and upon which an ultra-thin, conductive coating of platinum, titanium, or other suitable metal could be applied to conduct electrical impulses into cardiac tissue. This technology could be adapted for use with optical catheters that carry light signals and to non-photonic catheters that carry electrical signals.
The second, US patent 6,954,674, also applies to enhancing MRI safety. It covers an "electromagnetic interference immune tissue invasive system," designed to improve the MRI compatibility of medical devices, particularly through a device housing technology that shields electromagnetic interference from a novel control circuit inside the housing of the device.
"Biophan was the first developer to file patents on a number of solutions related to MRI compatibility, following the first MRI safety innovation developed at Johns Hopkins University and subsequently licensed to us on an exclusive basis for implantable medical devices," Mr. Weiner noted. "Our portfolio of capabilities can extend the benefits of MRI to many additional patients who need it for diagnostic and surgical purposes, particularly those implanted with pacemakers, defibrillators, or neurostimulators. These devices are currently still contraindicated for use with MRI because of continued safety concerns. It is our commitment and our hope that one day, because of the array of new solutions that we have provided, all of these people will be able to take advantage of the benefits of MRI technology."
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, plus international applications. This total includes 45 issued U.S. patents, 7 recently-allowed applications that will issue as patents in the near future, and 104 pending applications at various stages of examination at the U.S. Patent and Trademark Office. The patents cover areas including nanotechnology (nanomagnetic particle coatings), medical device designs, radio frequency filters, polymer composites, thermoelectric materials which generate electricity from body heat, and photonics. 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.