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www.fdanews.com/articles/82992-biophan-announces-acceleration-of-commercialization-of-myo-vad-cardiac-assist-device

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

December 8, 2005

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.

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