Biophan Technologies, Inc.
Medical Devices & Tech
15 Schoen Place
Pittsford, NY 14534 USA
phone: (585) 267-4800
fax: (585) 267-4819
Symbol BIPH
Exchange .OB
Founded 2001
Employees 14
www.biophan.com
Research Sector Medical Devices & Tech
Summary Description
MRI-enhancing technology for improved versatility, effectiveness, and safety
Management
John F. Lanzafame, Interim Chief Executive Officer; Robert J. Wood, Interim CFO; Stuart G. MacDonald, Vice President of Research and Development;
Ownership
Financials


* numbers in thousands

Recent Results
For the quarter ended August 31 2006, Biophan reported revenues of $310,099 vs. $62,500 in Q2 2005. The net loss for the quarter was $2.8 million compared to a loss of $6 million in Q2 2005.
 
Keywords
Cardiovascular, Imaging, magnetic resonance imaging, ultrasound, MRI, x-ray, diagnostics, aneurysm, biopsy, safety, guide wires, biopsy needles; photonics, shielding solutions, heart disease

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Description
Biophan Technologies develops technologies that make biomedical devices (such as pacemakers and surgical devices) safe and compatible for use in a magnetic resonance imaging (MRI) machine.
Products / Services
Biophan's biomedical devices include implantable medical devices (i.e. pacemakers) and interventional devices (i.e. minimally invasive surgical tools). Biophan offers: MRI shielding for active medical devices; MRI shielding for passive medical devices, including guide wires and biopsy needles; photonic and shielding solutions for MRI imaging; and MRI contrast agents. The company is helping to commercialize the MYO-VAD, an MRI-compatible ventricular assist device, which has significant potential to improve the treatment of acute and chronic heart disease. Other applications in development include drug delivery and power systems that derive energy from body heat. Biophan and its licensors now hold over 200 U.S. patents, licenses or applications, plus international applications covering areas such as nanotechnology (nanomagnetic particle coatings), medical device designs, radio frequency filters, polymer composites, thermoelectric materials and photonics.
Technology / Differentiation
Biophan's technologies enable medical systems (pacemakers), interventional surgical devices (catheters and guidewires), and implants (stents) to be safely and/or effectively imaged using MRI.
Market / Customers
Biophan has joint development and licensing agreements with Boston Scientific Corporation and NASA's Ames Center for Nanotechnology. The company supplies its technologies primarily to biomedical and biotechnology companies.
Competitors / Substitutes / Alternatives
There is not much competition for Biophan since it has 108 issued or pending patents covering MRI safety and related imaging, which account for most of the patents in this area. Michael Weiner, President and CEO of Biophan stated "I am pleased to say that to the best of our knowledge, we have the most comprehensive set of tools and patents, and at the moment we don't see competitors."
Strategy
In fiscal 2006, Biophan exceeded $1 million in revenue from licensing, MRI testing and consulting to the industry, plus additional revenue that will be recognized in the next fiscal year. This was accomplished primarily as a result of the company's licensing agreement with Boston Scientific Corp. covering multiple uses for MRI safety and image compatibility, which has generated over $1 million in cash payments to date. Boston Scientific also invested $5 million in equity. Biophan has also established relationships with Siemens, NASA's Ames Center for Nanotechnology and the University of California Biomedical Engineering Center. The company has also established a relationship with the FDA, which resulted in the announcement of a Cooperative Research and Development Agreement (CRADA) to help develop standards for making pacemakers, defibrillators and neurostimulators safe with MRI.
Status
Biophan has made progress on a competitive cardiac assist device, the MYO-VAD, through its relationship with Myotech, LLC. Biophan has also made strides in the technology to improve drug elution and drug delivery systems using nanomagnetic particle technology. Moreover, the company has established a relationship with NaturalNano (OTCBB: NNAN) for the exclusive use of jointly developed technologies for extracting, separating and characterizing halloysite nanotubes, useful for the delivery of drugs and other agents for extended release.


2008-11-22-2607