| Biophan Technologies, Inc., an innovator, developer, and marketer of advanced biomedical technologies, today announced its new NanoView technology. NanoView is intended to utilize nanomagnetic particles as contrast agents that preferentially bind to tissues of diagnostic interest, creating improved detail and contrast in images. If successful, this technology would improve signal intensity and permit the use of multiple markers. “This technology may have a substantial impact on magnetic resonance imaging (MRI) and other diagnostic imaging applications. NanoView could significantly improve the quality and effectiveness of these procedures. Consistent with its business strategy, Biophan is offering its NanoView technologies to organizations with established distribution and marketing channels. Biophan has had preliminary discussions with several organizations and there has been interest expressed in the technology and the benefits it provides. As such, we expect that NanoView technology may be a tremendous catalyst for Biophan’s future growth,” Weiner stated. FDA approval for use of the NanoView technology in the diagnostic market would be sought by Biophan's customer, who would then take the product to market. In such a relationship, Biophan plans to supply the nanoparticle imaging materials and help develop the technology for the customer's specific requirements, for milestone and license fee payments. NanoView was developed in conjunction with Nanoset, LLC, as an outgrowth of Biophan’s original research in nanomagnetic thin films intended to reduce image artifacts and tissue heating resulting from the use of metallic devices under MRI. Biophan’s nanomagnetic particle research, including NanoView, is being conducted in cooperation with Alfred University and Alfred University spin-out company, Nanoset, LLC. Nanoset licensed the worldwide exclusive medical rights to Biophan in 2002. Biophan is funding development and testing of the thin-film coatings in cooperation with Nanoset research personnel. |