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Biophan Announces Issuance of Key US Patent
Thursday, March 05, 2009
Patent Enhances Intellectual Property Portfolio for Myotech Circulatory Support Device
Pittsford, NY -- Biophan Technologies, Inc., a developer of next-generation medical technology, announced today that the United States Patent and Trademark Office (USPTO) issued the Company U.S. Patent No. 7,494,459, entitled "Sensor-Equipped and Algorithm Controlled Direct Mechanical Ventricular Assist Device." The patent covers important operational aspects of the Myotech Circulatory Support System (CSS) technology including critical control aspects of the drive unit.
The Myotech CSS is a novel, non-blood contacting circulatory support system consisting of a flexible polymer cup which is inserted via an incision between two ribs and is positioned around the lower half of the heart, avoiding direct contact with circulating blood, which is the primary cause of complications with competitive devices. An external drive unit actuates the CSS cup, providing active systolic and diastolic support. This design can be rapidly installed in less than five minutes. The speed of installation and lack of contact with circulating blood make the CSS a superior design for treating sudden cardiac arrest patients. Over 260,000 patients per year experience in hospital cardiac arrest in the US alone, and these patients could greatly benefit from this device.
The Company has pending application for additional patents that will cover future enhancements to the technology.
"We are excited by the issuance of this patent, which greatly increases the value of our technology portfolio," stated John Lanzafame, Biophan's CEO. "This patent is the first US patent to issue covering the Myotech CSS technology, and is an important milestone for us."
Biophan is currently seeking development and license partners to move the Myotech CSS forward into clinical trials. In addition, the Company has multiple grant applications under review at the National Institutes of Health and Department of Defense to help support research and development of the CSS technology.
About Biophan Technologies, Inc.
Biophan is dedicated to providing technologies that offer innovative and competitive advantages to the medical device industry. The Company is seeking development partners to commercialize the Myotech Circulatory Support System, which has significant potential to improve the treatment of acute heart failure. 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, expect, or believe 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.
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