Healthcare Industry News:  MRI-compatible 

Devices Cardiology

 News Release - July 12, 2006

Biophan Announces Key Senate Approval of $400,000 for the MYO-VAD Cardiac Assist Device

Potential Funding to Benefit Joint Effort Between the Rochester Heart Institute at Rochester General Hospital and MYOTECH

ROCHESTER, N.Y.--(HSMN NewsFeed)--July 12, 2006--Biophan Technologies, Inc. (OTCBB: BIPH ; FWB: BTN), a developer of next-generation medical technology, announced today that the Full Senate Appropriations Committee has approved $400,000 in the Fiscal Year 2007 Energy and Water Appropriations Bill for research on the MYO-VAD cardiac assist device at the Rochester Heart Institute at Rochester General Hospital.

With the aid of this funding, Rochester Heart Institute and MYOTECH will develop a new generation of minimally invasive cardiac assist devices for patients both in urban and rural communities. Existing cardiac assist devices are available only at specialized cardiac and transplant centers. The technically simple MYO-VAD promises to be available at virtually every hospital. MYOTECH is also working with the Greater Rochester Enterprise to establish clinical research and device manufacturing capacity in Monroe County, New York.

The MYO-VAD employs a technology which has already saved human lives. It is the only device that can both restore a fully arrested heart and maintain full cardiac output from a weak or damaged heart. The device can be installed in a 3-4 minute procedure, compared to current ventricular assist devices (VAD's) that take 30-45 minutes. Additionally, the MYO-VAD does not contact circulating blood, avoiding the complications of clotting and stroke, bleeding, and infection that plague current VAD's. The early prototypes using this technology restored full cardiac output in patients who were dying, and are alive and well today.

"We are very pleased to have the Senate Appropriations committee recognize the importance and value of our efforts with Rochester Heart Institute. We are also grateful to Senator Hillary Rodham Clinton who secured the funding for Rochester Heart Institute. Biophan remains committed to bring the MYO-VAD to market. The clinical need for this device is overwhelming. This money is incremental to the previous $1 million which was announced last week by the House of Representatives, and brings to $1.4 million the combined allocation for the MYO-VAD project," stated Michael Weiner, Biophan CEO.

Additional information on the MYO-VAD can be found on the Biophan website at Physicians and healthcare professionals may wish to view the Video Series at

About Biophan

Biophan develops and markets cutting-edge technologies for the medical device industry that provide competitive advantages. The Company's founding goal was to make all biomedical devices capable of safely and successfully working with magnetic resonance imaging (MRI), problems which the Company has solved and begun to license to leading device manufacturers. The Company's mission has expanded to provide other technologies which will improve the delivery of healthcare. Biophan's technologies 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. The Company is helping to commercialize the MYO-VAD(TM), a new, MRI-compatible ventricular assist device which has significant potential to improve the treatment of many forms of acute and chronic heart disease. Other applications in development include drug delivery and power systems which derive energy from body heat. Committed to growth through innovation and developmental leadership, Biophan and its licensors now hold a total of over 200 U.S. and foreign patents, licenses, or applications. This total includes 56 issued U.S. patents, and over 100 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 Corporation and NASA's Ames Center for Nanotechnology. Biophan is traded on the OTC market under the symbol BIPH, and is also listed on the Frankfurt Stock Exchange under the symbol BTN.

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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