Message #89 From:
NewsBot Date: January 10, 2007 05:34:00 AM
BTN News Biophan Moves to Next Phase of Development with MYO-VAD(TM) Cardiac Support System
ROCHESTER, N.Y.--(BUSINESS WIRE)--Biophan Technologies, Inc. (OTCBB: BIPH;
FWB: BTN), a developer of next-generation biomedical technology,
announced today that the Company is advancing to the next phase of
development of the MYO-VAD cardiac support system with co-developer
MYOTECH, LLC.
MYOTECH has completed the tooling for the first production device. The
device will be used in first quarter 2007 animal tests to verify product
performance and prepare for clinical studies in humans. The animal
trials will be conducted at four research sites, in cooperation with
leaders in the field of cardiac support.
“We are excited to be starting the final
stages of animal testing that will precede human clinical trials next
year,” stated Michael Weiner, CEO of Biophan. “These
animal trials at four leading research sites are required to qualify the
device for human clinical trials. We believe that the MYO-VAD can change
the way many forms of heart failure are treated and once it is approved,
it has the potential to save thousands of lives.”
MYOTECH, LLC, is a privately-held medical technology development
company, formed in 2003 to commercialize a family of medical products
based upon Direct Mechanical Ventricular Actuation ("DMVA") cardiac
support technology. This technology has permitted the development of
minimally invasive heart support devices that promise to provide safer,
more effective, and less expensive treatment for patients with many
types of heart failure. MYOTECH has relationships with leading
physicians and medical institutions who are assisting MYOTECH in the
commercialization of its technology. MYOTECH has several pending patents
pertaining to the DMVA technology.
About Biophan
Biophan is dedicated to providing technologies that offer innovative and
competitive advantages to the medical device industry. The Company's
technologies, which improve the MRI safety and image compatibility of
medical devices, are licensed to leading device manufacturers. In
addition, the Company is commercializing the MYOTECH MYO-VAD(TM), a new,
cardiac support system which has significant potential to improve the
treatment of many forms of heart disease. Biophan is traded on the OTC
market under the symbol BIPH, and is also listed on the Frankfurt Stock
Exchange under the symbol BTN. For more information on Biophan, please
visit our website at www.biophan.com.
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.
