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Biophan Technologies Announces Joint Development Agreement With Boston
Scientific
Goal is to create MRI-safe and MRI-image compatible medical devices
ROCHESTER, N.Y., Nov. 5 /PRNewswire-FirstCall/ -- Biophan Technologies, Inc.
(BULLETIN BOARD: BIPH) today announced that it had entered into a joint
development agreement with Boston Scientific Corporation to make medical
devices more compatible with magnetic resonance imaging (MRI) technology. The
two companies will also be exploring possible licensing agreements. Details of
the agreement were not disclosed.
The joint development agreement seeks to resolve problems caused by the
interference of metal objects, including those in some medical devices, with MRI
technology. This interference can obscure images of tissue, bone and metal in
areas near metal objects and can raise safety concerns. As a result, some
medical devices are not permitted to be used with MRI diagnostic tools. Biophan
has developed technologies that can address the safety and image- compatibility
issues. Recent research by Biophan and scientists at the University of
Rochester and Alfred University have confirmed that Biophan's coating technology
can significantly reduce image interference caused by metal objects (see press
release, "Biophan Technology Enhances MRI Images," July 15, 2003, at
http://www.biophan.com/release_071503.php).
"We are pleased to be working with Boston Scientific on the demonstration of our
technology on specific products that today are limited for use with MRI," said
Michael Weiner, Biophan Chief Executive Officer. "Biophan's goal is to make
medical devices both safe and image compatible with MRI imaging. The
relationship with Boston Scientific is a significant opportunity for us."
Biophan, based in Rochester, New York, develops and markets technology to enable
biomedical devices, both for interventional medicine, and implantable devices
such as cardiac pacemakers and the other life sustaining medical devices, to be
safe and compatible with magnetic resonance imaging (MRI) and other equipment
using magnetic fields and radio waves. This MRI safe and compatible technology
will be utilized in temporary and implantable pacemakers, implantable
cardioverter-defibrillators and other medical equipment. For more information,
please visit http://www.biophan.com/.
Boston Scientific is a worldwide developer, manufacturer and marketer of medical
devices whose products are used in a broad range of interventional medical
specialties. For more information, please visit:
http://www.bostonscientific.com/.
Certain statements included in this press release may constitute forward-
looking statements. Actual results could differ materially from such statements
expressed or implied herein as a result of a variety of factors including, but
not limited to: the development of the Company's MRI technologies; the approval
of the Company's patent applications; the successful implementation of the
Company's research and development programs; the acceptance by the market of the
Company's products; competition and the timing of projects and trends in future
operating performance; as well as other factors expressed from time to time in
the Company's periodic filings with the Securities and Exchange Commission (the
"SEC"). As a result, this press release should be read in conjunction with the
Company's periodic filings with the SEC. The forward-looking statements
contained herein are made only as of the date of this press release, and the
Company undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
DATASOURCE: Biophan Technologies, Inc.
CONTACT: Michael Weiner, Chief Executive Officer, Biophan Technologies,
Inc., +1-585-214-2441,
Web site: http://www.biophan.com/