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Biophan Announces Issuance of Two New Patents in MRI Compatibility, Expands Lead in Intellectual Property |
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New Patents Strengthen Company's Competitive Advantage in Several Multi-Billion-Dollar Healthcare Markets.
ROCHESTER, N.Y. -Jan. 31, 2005- Biophan Technologies, Inc. (OTC BB: BIPH), a developer of next-generation biomedical technology, has announced the issuance of two new patents by the U.S. Patent and Trademark Office that extend the Company's competitive edge in the marketplace for the rapidly emerging field of MRI safety and image compatibility for medical instruments and implanted devices. Michael Weiner, CEO of Biophan, made the announcement.
These newly-issued patents build on the base Biophan has already established with the development of proprietary solutions that make medical devices safe and compatible with the magnetic resonance imaging (MRI) environment. Currently, millions of patients with implanted medical devices, such as pacemakers, cannot be safely or effectively imaged with MRI technology, and those with stents have to undergo invasive diagnostic procedures due to image problems with MRI and X-ray that have previously limited the ability to see the inside of a stent.
"The new patents will help ensure Biophan's leadership position and competitive advantages in improving over $12 billion of medical devices which ship every year with limitations in working with MRI," said Mr. Weiner. "Biophan has already gained important patent and technological command of the three fundamental approaches to MRI compatibility: anti-antenna designs, which is the subject of a recently issued U.S. patent; nanomagnetic particle thin-film coatings, in which today's issued patent adds to our already broad coverage and specifically teaches how to shield conductors such as pacemaker leads and guidewires; and photonics, where we've developed extensive fiber-optic solutions and patent coverage useful in addressing problems of MRI imaging and safety."
One of the newly-issued patents, issued to Biophan technology partner, Nanoset LLC, provides fundamental patent protection for a range of very important nano-particulate thin-film coating characteristics that enable them to provide the electro-magnetic shielding to make medical devices safe and image compatible under MRI environments.
The second newly-issued patent relates to the creation of medical leads or wires that are based upon fiber-optic components. Applications include the use of leads for implantable devices and for interventional medical procedures. They also cover the use of external leads used to receive and relay information through the MRI environment, such as surface-mounted ECG electrode data. The patents describe methods that make such systems safe and image compatible, with virtually zero interference with MRI images.
Mr. Weiner added: "While Biophan previously discontinued work on a photonic pacemaker lead when our other development efforts solved the problems in a much simpler and more cost-effective manner, we believe that a range of future implantable and surgical medical devices will use photonic solutions, and we are pleased to have a large and growing patent portfolio covering this emerging capability."
The newly issued patents have also furthered Biophan's progress toward finalizing agreements with product development and manufacturing partners in the healthcare industry. "The issuance of these Biophan patents and others, such as the anti-antenna patent, and nanoparticle coatings, has been very helpful in moving negotiations into the final contract phase," said Mr. Weiner. "There is a certain degree of uncertainty with patents that are pending and a strong degree of strength when patents actually issue with strong claims. Clearly, in the areas of making devices safe and visible under MRI, we have covered the waterfront. Similarly, when it comes to making stents visible under MRI, we clearly have both the demonstrated capability and the intellectual property coverage."
The devices covered by Biophan's intellectual property portfolio cover not only today's products, but also key components of future medical devices. Such next-generation products include diagnostic implants, such as smart stents and other implantable devices where the device and electrical circuitry are both safe and visible with MRI, and are also capable of communicating telemetry to physicians without interference.
"We are pleased to now be making progress with multiple companies on both exclusive and non-exclusive arrangements across a wide arena of biomedical devices that have the potential to make a significant improvement in the ability of physicians to care for their patients," said Mr. Weiner. "This was our founding mission, and we are pleased to be demonstrating this continued progress."
About Biophan Technologies
Biophan develops and markets cutting-edge technologies designed to make biomedical devices safe and compatible with the magnetic resonance imaging (MRI) environment. The Company develops enabling technologies for implanted medical systems such as pacemakers and interventional surgical devices such as catheters, guidewires, stents, and other implants to allow them to be safely and effectively imaged under MRI. The technology is also being used to create MRI contrast agents, and has expanded to include other applications, such as drug delivery and power systems derived from body heat. Four Biophan technologies include advances in nanotechnology and thin-film coatings. Committed to growth through innovation and developmental leadership, Biophan and its licensors now hold a total of 104 U.S. patents, licenses, or applications. This total includes 28 issued U.S. patents, 8 recently-allowed applications that will issue as patents in the near future, and 68 pending applications at various stages of examination at the U.S. Patent and Trademark Office. The patents cover areas including nanotechnology (nanomagnetic particle coatings), radio frequency filters, polymer composites, thermoelectric materials for batteries generating power from body heat, and photonics. Biophan has joint development arrangements with Boston Scientific (NYSE: BSX) 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 quality of life. For more information, please visit www.biophan.com.
(source: BUSINESS WIRE)
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