SOURCE: Biophan Technologies, Inc.

September 13, 2007 08:23 ET

Biophan Names John Lanzafame as Interim Chief Executive Officer

Former Biophan Chief Operating Officer Takes Over From Executive Committee and Begins Process of Refocusing Company

PITTSFORD, NY--(Marketwire - September 13, 2007) - Biophan Technologies, Inc. (OTCBB: BIPH), a developer of next-generation biomedical technology, today announced that the Company has disbanded the Executive Committee which was formed in May of 2007 to oversee the operations of the organization, and has named Mr. John Lanzafame as interim Chief Executive Officer. Mr. Lanzafame assumed the CEO position effective September 10, 2007.

Commenting on the appointment, Dr. Guenter H. Jaensch, Chairman of the Biophan Board of Directors, stated, "It is with great pleasure that we make this announcement. John joined Biophan in 2004 as Vice President of Business Development and has assumed various senior level executive roles within the company, culminating in his most recent position of Chief Operating Officer. In this recent role, John was instrumental in bringing about significant change, including substantial cost reductions and the negotiation of certain licensing agreements that brought in much-needed revenues. John has over 18 years of medical device and process engineering expertise and we expect that he will bring this experience to bear in his new role at the Company. Among other duties, his primary focus will surround the deployment of appropriate resources in the development and commercialization of the Myotech Circulatory Support System for treating acute heart failure. This includes the improvement of our current product development cycle and regulatory plans."

"This is a very exciting time in the history of the company," commented Mr. Lanzafame. "With the resources that will be afforded to us upon closing the Medtronic transaction and the significant cost-cutting measures already undertaken, we now have a solid foundation on which to build. In addition to the Myotech development program, we have other technologies, including the biothermal power supply, that we believe are commercially viable. We believe the recent Medtronic transaction positions the Company to further develop and commercialize these technologies," Lanzafame concluded.

The 40-year-old Lanzafame began his tenure with Biophan in the position of Vice President of Business Development in 2004, rising to his most recent position of Chief Operating Officer in April of 2006. From 1989 through to 2004 Lanzafame held several senior-level executive positions at STS Biopolymers, Inc., a private company that developed and manufactured high-tech, polymer-based coatings for use on medical devices. STS Biopolymers was acquired by Angiotech Pharmaceuticals during Mr. Lanzafame's tenure as President of the company. Lanzafame earned his Bachelors Degree in Chemical Engineering from the University of Dayton and his Masters Degree in Industrial Engineering Management from the Rochester Institute of Technology.

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 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.

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