Medtronic to Acquire Biophan MRI Safety Technology for $11 Millio - 500 Beiträge pro Seite

[V51]

BTN


(Market Wire) Medtronic to Acquire Biophan MRI Safety Technology for $11 Millio



PITTSFORD, NY -- (MARKET WIRE) -- 08/09/07 -- Biophan Technologies, Inc. (OTCBB
BIPH), a
developer of next-generation biomedical technology, today announced that
the Company has entered into a definitive agreement with Medtronic, Inc.
(NYSE: MDT) to acquire Biophan's MRI safety patents in a transaction worth
$11 million in cash. The transaction is anticipated to close within 60
days.



Under the terms of the agreement, Biophan will transfer to Medtronic its
MRI safety patent portfolio, which includes technologies that make medical
devices, such as pacemakers, safe for use with MRI.



"Since our founding in 2000, our goal has been to develop and commercialize
innovative technologies related to medical imaging safety, with a focus on
the development of solutions for the contraindication between pacemakers
and MRI machines," stated Mr. Guenter Jaensch, Chairman of Biophan's Board
of Directors.





"Our technology has the potential to solve the problems that have prevented
many people with pacemakers from having an MRI. We believe Medtronic has
the experience and resources to bring our technology to market," stated
Michael Weiner, President of Biophan.



Biophan will continue its efforts to develop technologies to enable
visualization of clotting and restenosis in stents under MRI, which is not
possible with today's stents. In addition, it will continue its
collaboration with Myotech on the development of the Myotech Circulatory
Support System, a novel device for the treatment of acute heart failure.



About Biophan Technologies, Inc.:



Biophan is dedicated to providing technologies that offer innovative and
competitive advantages to the medical device industry. In addition, the
Company is helping to commercialize Myotech's new cardiac support system
which has significant potential to improve the treatment of many forms of
heart disease. Biophan Technologies, Inc. holds a 45% interest in Myotech
with rights to acquire a majority position, and is leading Myotech's
business development efforts. Biophan is traded on the OTC market under
the symbol BIPH, and is also listed on the Frankfurt Stock Exchange under
the symbol BTN. For more information on Biophan, please visit our website
at www.biophan.com.

[V51]

charttechnisch hoch bis 0,29 e erstmal


das gibt fetten schub

[V51]

auf die anzahl der aktien gerechnet, sind das mit einem schlag wohl 0,18 $ cash je aktie......