FDAnews Device Daily Bulletin

BIOPHAN ANNOUNCES ACCELERATION OF COMMERCIALIZATION OF MYO-VAD CARDIAC ASSIST DEVICE

Dec. 9, 2005
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Biophan Technologies, Inc., a developer of next-generation biomedical technology, today announced the acceleration of the commercialization program of the MYO-VAD following the recently announced agreement for its acquisition and investment in MYOTECH, LLC. Under the terms of the purchase agreement, Biophan will acquire a minority interest of roughly 40 percent of MYOTECH in exchange for issuing approximately 4.9 million shares of Biophan common stock and a cash payment of $2.225 million over time.

Genetic Engineering News (http://www.genengnews.com/news/bnitem.aspx?name=1122395XSL_NEWSML_TO_NEWSML_WEB.xml)