Healthcare Industry News: Magnetic Resonance Imaging
News Release - April 11, 2006
Biophan Technologies, Inc. Announces Appointment of Daniel G. Hullihen as Director of Business Development
ROCHESTER, N.Y.--(HSMN NewsFeed)--April 11, 2006--Biophan Technologies, Inc. (OTCBB: BIPH; FWB: BTN), a developer of next-generation medical technology, announced today the appointment of Daniel G. Hullihen as Director of Business Development. Mr. Hullihen will report to John Lanzafame, Vice President of Business Development.Mr. Hullihen was previously employed by STS Biopolymers, a firm specializing in drug elution from medical device surfaces, where he was U.S. sales manager. His tenure there also included positions in research and product development. STS Biopolymers was acquired by Angiotech Pharmaceuticals (NASDAQ: ANPI ) for approximately $23 million in 2003. Angiotech is the supplier of the paclitaxel technology used on the TAXUS drug-eluting stent sold by Boston Scientific (NYSE: BSX ). Mr. Hullihen joins Biophan directly from Conmed Endoscopic Technologies, and has also held sales and management positions with Novartis Pharmaceuticals and Bard Endoscopic Technologies.
"I'm very pleased to join Biophan's business development group," stated Mr. Hullihen. "With the Company's extensive intellectual property portfolio and numerous technological innovations, I believe Biophan is positioned for exceptional growth."
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 a minority interest in MYOTECH, LLC to help develop and commercialize the MYO-VAD(TM), a novel, MRI- compatible ventricular assist device which has significant potential for improving the treatment of many forms of heart failure. 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 50 issued U.S. patents, 8 recently-allowed applications that will issue as patents in the near future, and 98 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, 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 the delivery of healthcare. 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.
Source: Biophan Technologies
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