Healthcare Industry News: Biophan Technologies
News Release - February 21, 2007
Biophan, Rochester General Hospital, and Congresswoman Louise Slaughter Hold Press Conference on $1 Million Allocation to Help Accelerate MYOTECH Cardiac Support SystemROCHESTER, N.Y.--(HSMN NewsFeed)--Biophan Technologies, Inc. (OTCBB: BIPH ; FWB: BTN), a developer of next-generation biomedical technology, will participate today in a press conference with The Rochester Heart Institute, where Congresswoman Louise Slaughter will announce the allocation she secured of $1 million in U.S. government funding to accelerate the commercialization of the MYOTECH cardiac support system.
"Ventricular Assist Devices are a triumph of care for the sickest cardiac patients. The state of the art, however, has significant restrictions, limitations and complications. We at RGH are excited to partner with MYOTECH, LLC to develop this breakthrough technology, which we believe will bring ventricular assist devices to a larger group of patients with significantly improved outcomes," stated Dr. Ronald Kirshner, Chief of Cardiac Services and Cardiothoracic Surgery at Rochester General Hospital.
"MYOTECH is proud to be collaborating with The Rochester Heart Institute at Rochester General Hospital, a seven year Solucient Top 100 Heart Hospital winner, an honor given to those hospitals that are the highest performers in the nation in cardiovascular care," stated Jeffrey L. Helfer, President of Biophan's Cardiovascular Division. "They are ideally suited to help introduce our technology into the general hospital environment. Our first objective includes developing training programs for physicians and their support staff in the use of the technology."
Mr. Helfer continued, "We anticipate that our collaboration will eventually include the use of the MYOTECH cardiac support system in human patients, and that The Rochester Heart Institute will become a national and international showcase for the use of our technology in a general hospital setting. We are honored to be working with Congresswoman Slaughter and greatly appreciate her efforts to assist this program."
MYOTECH's cardiac support system consists of an external drive unit and flexible polymer cup that slips over the heart and provides the energy that enables the heart to restore normal blood flow. It can be installed in approximately three minutes with a small incision to provide immediate, life-saving support in emergency situations. Since it has no contact with circulating blood, MYOTECH's cardiac support system also promises to reduce the risk of patient complications, such as clotting and stroke, bleeding, and infection.
The technically simple product is expected to extend cardiac support capability well beyond existing transplant and specialized cardiac centers to treat the much greater number of patients that present with heart failure at general hospitals.
About MYOTECH, LLC
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 be more broadly available, and 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 that are assisting MYOTECH in the commercialization of its technology. MYOTECH has several pending patents pertaining to the DMVA technology.
Biophan is dedicated to providing technologies that offer innovative and competitive advantages to the medical device industry. The Company's technologies that improve the MRI safety and image compatibility of medical devices are licensed to leading device manufacturers. In addition, the Company is helping to commercialize MYOTECH's new, MRI-compatible cardiac support system which has significant potential to improve the treatment of many forms of heart disease. Biophan Technologies, Inc. holds a 42% interest in MYOTECH with rights to acquire a majority position, and is leading MYOTECH's business development efforts. 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.
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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