SOURCE: Biophan Technologies, Inc.

November 01, 2007 07:34 ET

Biophan Announces Myotech Board of Directors

PITTSFORD, NY--(Marketwire - November 1, 2007) - Biophan Technologies, Inc. (OTCBB: BIPH), a developer of next-generation biomedical technology, today announced the composition of the new board of directors of its subsidiary, Myotech. Under the terms of the new deal announced on October 5, in which Biophan now owns 68% of Myotech, a new board of directors has been put in place for the subsidiary with three of the five members appointed by Biophan.

The new board of directors will consist of the following five individuals:

Peer M. Portner, PhD, FACC, FAHA, FAIMBE, developer of the first permanently implanted mechanical cardiac assist system, is Consulting Professor of Cardiothoracic Surgery at the Stanford University School of Medicine (on the faculty since 1976). Dr. Portner was President, CEO, and founder of Novacor Medical Corporation in Oakland, California. Following its acquisition in 1988 by Baxter Healthcare Corporation, he was President, then Chairman, and until mid-2000 Chairman Emeritus of the Novacor Division of Baxter.

Bonnie Labosky is a former Medtronic Vice President and General Manager of the Heart Failure Division. She is currently President and CEO of Cardiac Concepts, Inc., a Minneapolis-based company with venture capital backing, developing new medical device technologies. Prior to joining Cardiac Concepts, Inc., Ms. Labosky was Group Vice President for Welch Allyn, a provider of innovative medical diagnostic devices, patient monitoring systems, and external defibrillators.

Mark P. Anstadt, M.D. FACS is Myotech's Chief Medical Officer and Associate Professor in the Department of Surgery, Wright State University School of Medicine and Chief of Cardiothoracic Surgery and Medical Director of Cardiothoracic Surgery Services at Miami Valley Hospital. He has served as Chief of Cardiothoracic Surgery and Director of the Cardiothoracic Training Program at the Medical College of Georgia and Assistant Professor, Cardiothoracic Surgery at Baylor College of Medicine.

Stan Yakatan is the Chairman of Katan Associates, a consulting/advisory group, through which he has served as a senior advisor to various healthcare companies over the last ten years. Previously, Mr. Yakatan was CEO and co-founder of several companies including Quantum Biotechnologies Inc.; CryoSurge; Cystar, Inc.; Proteine Performance; New Brunswick Scientific; BioSearch, and Unisyn Technologies. Mr. Yakatan also served as a senior executive with New England Nuclear ICN Pharma, and EI Dupont.

John Lanzafame is currently CEO of Biophan Technologies. Mr. Lanzafame has over fifteen years experience in the medical device industry. Prior to joining Biophan, he was president of STS Biopolymers, Inc., a privately held medical device company that marketed high performance polymer-based coatings for the medical device industry. STS Biopolymers was sold to Angiotech Pharmaceuticals in 2003.

"We're very excited to have such an experienced board, with broad clinical and business backgrounds, to help focus the development of the Myotech Circulatory Support System," stated Biophan CEO John Lanzafame. "Their experience in building successful businesses, and in launching new product categories in the heart failure / cardiac support space, will help to ensure the success of the Myotech CSS."

About Biophan Technologies, Inc.

Biophan is dedicated to providing technologies that offer innovative and competitive advantages to the medical device industry. The Company is helping to commercialize the Myotech Circulatory Support System, which has significant potential to improve the treatment of acute heart failure. Biophan Technologies, Inc. holds a 68% interest in Myotech with rights to acquire additional equity, 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.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements included in this press release may constitute forward-looking statements within the meaning of applicable securities laws. These statements reflect what Biophan anticipates, expects, or believes may happen in the future. Biophan's actual results could differ materially from the outcome or circumstance expressed or implied by such forward-looking statements as a result of a variety of factors including, but not limited to: Biophan's ability to develop its technologies; the approval of Biophan's patent applications; the successful implementation of Biophan's research and development programs; the ability of Biophan to demonstrate the effectiveness of its technology; the acceptance by the market of Biophan's technology and products incorporating such technology; the ability of Biophan to effectively negotiate and enter into contracts with medical device manufacturers for the licensing of Biophan's technology; competition; the ability of Biophan to raise capital to fund its operating and research and development activities until it generates revenues sufficient to do so; and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in Biophan's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Biophan's periodic filings with the SEC, which are incorporated herein by reference. The forward-looking statements contained herein are made only as of the date of this press release, and Biophan undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Contact Information

  • Contact:

    Carolyn Hotchkiss
    Communications Manager
    Biophan Technologies, Inc.
    (585) 267-4813
    Email Contact