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Edited for Send2Press by Carly Zander
Biophan Moves Closer to MRI Imaging Market
RENO, NV - January 20, 2004 /Send2Press Newswire/ -- AXcess News (www.theaxcess.net)
announced today that they have released a story covering Biophan Technologies, Inc.
(OTC BB: BIPH) commercialization of its biomedical technology in developing
temporary and implantable pacemakers.
The pacemaker field, a $4 billion dollar market, is dominated by three primary
players; Medtronic (MDT), Guidant (GDT) and St. Jude Medical (STJ), making it tough
for a small business like Biophan to compete. But the development stage biomedical
technology company isn't alone.
On November 5, 2003, Biophan entered into a joint development agreement with Boston
Scientific Corporation (BSX). According to a brief announcement put out by Biophan
the joint development agreement seeks to resolve problems caused by the interference
of metal objects, including those in some medical devices, with MRI technology.
On Friday, Biophan released an announcement about extending its license rights from
Nanoset LLC that dealt with coating technologies. Technologies that could be used by
a large, international medical device manufacturing and marketing company looking
for an edge to get in on the $4 billion dollar a year pacemaker business.
Biophan's move in extending those license rights may have jockeyed the company into
a better negotiating position with Boston Scientific.
Michael Weiner, chief executive officer of Biophan said, "It should be clear that
Biophan is continuing to successfully implement its strategic plan of creating a
very substantial and diversified biomedical portfolio."
Weiner also pointed out that his company's balance sheet was flush with cash from a
recent financing, enough he warranted to carry the development stage biomedical
technology company through to market.
To read that story, go to http://www.theaxcess.net
About AXcess News
Dubbed the "Yahoo! of small cap business news" by Gordon Borrell, one of
America's leading media and research gurus, AXcess News is fast becoming
a known commodity for both the serious investor and people in general
looking for informed articles and insightful columns that appeal to a
broad spectrum of readers.
• Previous News from AXcess News
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