Biophan Announces Issuance of Two New Patents Expanding Intellectual Property Lead in Key Areas of Biomedical Technology; Company Now Holds 213 Issued and Pending Patents Worldwide
"The continued growth of our intellectual property portfolio comes at a time when the entire biomedical device industry and government regulators are much more serious about solving the problems of both MRI safety and image compatibility," stated Biophan CEO Michael Weiner. "From our perspective as the primary holder of patented solutions for resolving these issues, we can see that both interest and activity is increasing. We believe it is only a matter of time before multiple products ship with the competitive advantage of being either MRI safe or MRI image compatible, or both. The recent payment from Boston Scientific, renewing their license for the next year, confirms the sustained interest in these technologies by our first customer
“The continued growth of our intellectual property portfolio comes at a time when the entire biomedical device industry and government regulators are much more serious about solving the problems of both MRI safety and image compatibility”
US Patent 6,980,848, Optical MRI Catheter System, teaches the application of photonic technology in combination with miniature MRI receiver coils incorporated into diagnostic catheters, eliminating unwanted heating associated with electrical conductors. Traditional receiver coils are either part of the MRI system or placed directly over body areas requiring higher image resolution. Intraluminal coils are small enough to be part of a catheter that can run through an artery or other body lumen, providing exquisite image quality in a localized area. This may be critically important in diagnosing vulnerable plaque and other conditions, and use of photonics eliminates any heating risk.
US Patent 6,980,865, Implantable Shielded Medical Device, licensed to Biophan by Nanoset LLC, discloses a flexible and biocompatible shielding assembly for electrical conductors used with implantable medical devices. This patent covers use of nanomagnetic and carbon-based structures providing a wide range of electromagnetic shielding for internal electrical conductors, as well as a high degree of thermal isolation for tissues external to the shield.
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 medical systems such as pacemakers, interventional surgical devices such as catheters and guidewires, and implants such as stents to be safely and/or effectively imaged under MRI. Biophan is developing these same technologies to provide new MRI contrast agents. Other applications include drug delivery and power systems which derive energy from body heat. Biophan also has an equity position in MYOTECH, LLC to assist in development and commercialization of an MRI compatible cardiac assist device - the MYO-VAD(TM). Committed to growth through innovation and developmental leadership, Biophan and its licensors now hold a total of 157 U.S. patents, licenses, or applications, plus international applications. This total includes 48 issued U.S. patents, 7 recently-allowed applications that will issue as patents in the near future, and 102 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.