BIOPHAN GETS $1 MILLION GOVERNMENT GRANT FOR MYO-VAD CARDIAC DEVICE

Biophan Technologies recently received $1 million in funding from the U.S. government to further the development of the MYO-VAD cardiac support system.

The Department of Defense appropriations bill signed June 20 by the House of Representatives included an approval for $1 million for the development of Myotech's minimally invasive cardiac-assist device, Biophan said.

The New York State Office of Science, Technology and Academic Research also provided $309,000 in equipment for Biophan's nanomagnetic particle research and development in MRI imaging and drug delivery at Alfred University, the firm said.