BIOPHAN TO ACQUIRE RIGHTS TO PROPRIETARY CARDIAC ASSIST DEVICE TECHNOLOGY DEVELOPED BY MYOTECH, LLC
Biophan Technologies, Inc. (OTCBB:BIPH - News), a developer of next-generation
biomedical technology, announced Tuesday that it has entered into a Letter of
Intent with MYOTECH to direct the development, regulatory approval, and marketing
of MYOTECH's MYO-VAD cardiac assist technology. Under the terms of the
Letter, Biophan will also direct all future MYOTECH development programs. In
addition, Biophan has acquired a substantial minority interest with the right
to acquire a controlling interest in MYOTECH. This relationship will enable
MYOTECH to accelerate the development of all of its proprietary cardiac assist
technologies for introduction into the fast-growing $28 billion worldwide market
opportunity for cardiac devices.
Yahoo
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