BIPH and Boston Scientific news!!! Man it felt like I waited forever for this; but I'm sure it sure was worth the wait. I have about 70% of my brokerage account in BIPH and about 15% of my IRA....Tuesday is going to be incredible!!!
Boston Scientific and Biophan Expand R&D Relationship
Friday May 28, 4:01 pm ET
Companies to Extend Joint Development Program to Multiple Products
ROCHESTER, N.Y--(BUSINESS WIRE)--May 28, 2004--Biophan Technologies, Inc. (OTCBB:BIPH - News), a leading developer of next generation biomedical technology, announced today that it has completed Phase I of a three-part joint development program with Boston Scientific (NYSE: BSX - News), a medical device company with a $32 billion capitalization. Sales for Boston Scientific reached $3.75 billion over the last year and are on a run rate of over $5 billion for 2005. The program involves exploring the use of Biophan's cutting-edge, MRI safe and image compatible technologies with a variety of Boston Scientific products.
The companies have already begun the next two phases, in which Biophan will receive additional payments and will extend Boston Scientific's first right to negotiate the licensing of Biophan technologies that result from the companies' joint development efforts. In addition, the companies are exploring ways to further expand their relationship by providing access to Biophan's technologies for additional products.
"We are extremely pleased to be aligned with a company the size of, and with the marketing strength of Boston Scientific," stated Michael Weiner, CEO of Biophan. "Not only have we received funding contributing to evaluating our technologies, we also have been able to interact with one of the most innovative and forward thinking companies in the medical device sector. The access to Boston Scientific personnel has significantly helped us hone our solutions to meet the needs of the medical device industry, including identifying new applications that can benefit from MRI safety and image compatibility."
About Biophan Technologies
Biophan Technologies develops and markets cutting-edge technologies designed to make biomedical devices--such as cardiac pacemakers, surgical and diagnostic tools--safe and compatible with magnetic resonance imaging (MRI) equipment. The Company develops enabling technologies for implanted medical systems such as pacemakers, and interventional surgical devices such as catheters and guidewires, as well as stents and other implants that can be safely and effectively imaged under MRI. The technology is also being used to create enhanced MRI contrast agents. Committed to growth through innovation and developmental leadership, Biophan and its licensors have nine issued U.S. patents and over fifty patents pending, in areas including nanotechnology (nanomagnetic particle coatings), radio frequency filters, polymer composites, and photonics. Biophan's technology will help realize its goal of one day making all biomedical devices capable of safely and successfully working with MRI. For more information, please visit www.biophan.com.
About Boston Scientific Corporation
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: www.bostonscientific.com.
Cautionary Statement Regarding Forward-Looking Statements
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 Biophan's MRI technologies; the approval of Biophan's patent applications; the successful implementation of Biophan's research and development programs; the acceptance by the market of Biophan'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 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. 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.
--------------------------------------------------------------------------------
Contact:
Biophan Technologies, Inc.
Carolyn Hotchkiss, 585-214-2407
or
Press Interviews:
Michael Weiner, 585-214-2441
"Our houses are such unwieldy property that we are often imprisoned rather than housed in them." - Henry David Thoreau, Walden: Economy, 1854
