FDAnews Device Daily Bulletin

BIOPHAN LAYS OUT FIVE-YEAR FINANCIAL OUTLOOK

Nov. 22, 2005
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Biophan Technologies recently announced a five-year financial outlook based on licensing and product sales. The company also reported its technological and strategic initiatives.

Specifically, the company is predicting at least $100 million per year in licensing revenues from its stents, vena cava filters and interventional devices. Biophan also expects $40 million per year in licensing fees from devices related to magnetic resonance imaging (MRI) safety for implantable medical devices. These devices include pacemakers, implantable cardioverter defibrillators and neurostimulators.

Biophan says that it would also continue to develop new technologies, such as a novel biothermal power supply and controlled drug delivery methods. The company is also working to adapt its nanomagnetic particle technology to produce novel MRI contrast agents and controlled drug delivery materials.