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Abstract:
Prominent Independent Newsletter Cites Biophan’s Nanotechnology Innovations in Biomedical and Health Care Applications

Biophan Highlighted as ‘Company to Watch’ in Latest Issue of Forbes/Wolfe’s Nanotech Report

Rochester, NY – November 29, 2004

Biophan Technologies, Inc. (OTC BB:BIPH), a developer of next-generation biomedical technology, has been featured in the latest issue of Forbes/Wolfe’s Nanotech Report, an independent nanotechnology industry newsletter widely respected throughout the investment community. The announcement was made by Michael Weiner, Biophan CEO.

The Forbes/Wolfe Nanotech Report named Biophan in the “Companies to Watch” feature of its November issue, citing the Company’s pioneering work in the development of nanotechnology-based biomedical solutions. The newsletter noted Biophan’s proprietary advances in nanoparticle science to generate advances in safety and effectiveness of magnetic resonance imaging (MRI), as well as the creation of next-generation drug-delivery techniques and advanced MRI contrast agents.

“The Forbes/Wolfe Nanotech Report’s article about Biophan is a unique and valuable endorsement of the Company’s technology and product initiatives, and of our strategic plans,” said Mr. Weiner. “The Nanotech Report is an influential and independent voice in our industry, and many in the investment community as well, as those in our customer constituency, place great importance on their commentary.”

Biophan’s proprietary innovations using magnetic nanoparticle coatings were among the technologies highlighted in the Forbes/Wolfe article. These nanoparticle coatings have enabled breakthrough advances with important implications for an array of biomedical applications, including substantial improvements for multi-billion dollar markets of MRI imaging, drug-elution and other procedures.

The report also details emerging markets whose development is being assisted by the Company’s proprietary solutions. Biophan’s nanoparticle coatings, for example, are enabling development of the promising new field of minimally-invasive MRI-guided surgery, which have the potential to replace many existing x-ray guided surgical procedures. MRI provides substantial benefits over x-ray technologies, such as improved tissue imaging and the elimination of potentially harmful x-ray radiation to doctors and patients.

“MRI-guided surgery is one of the emerging fields that we believe holds a major part of our market potential,” said Mr. Weiner. “The Forbes/Wolfe report emphasizes the place this company has in the future of imaging-guided procedures and a range of other important biomedical advancements, such as improved implantable medical devices, enhanced cardiovascular stent imaging and next-generation MRI contrast agents.”

The article also discussed Mr. Weiner’s views regarding the Company’s favorable operational strengths, including strategic partnerships and significant potential for technology licensing revenues.

About Forbes/Wolfe Nanotech Report

The Forbes/Wolfe Nanotech Report is an independent newsletter published monthly as a joint venture between Forbes Inc. and Angstrom Publishing, LLC. It focuses solely on events in the Nanotech industry and investing spheres and is only available by special purchase and to Forbes Magazine subscribers.

About Biophan Technologies

Biophan develops and markets cutting-edge technologies designed to make biomedical devices safe and compatible with the magnetic resonance imaging (MRI) environment. The Company develops enabling technologies for implanted medical systems such as pacemakers, and interventional surgical devices such as catheters and guidewires, as well as stents and other implants that can be safely and effectively imaged under MRI. The technology is also being used to create MRI contrast agents, and has expanded to include other applications, such as drug delivery and power systems derived from body heat. Four Biophan product lines include advances in nanotechnology and thin film coatings. Committed to growth through innovation and developmental leadership, Biophan and its licensors have a total of 101 U.S. patents issued, pending, or allowed. This total includes 22 issued U.S. patents, 11 recently-allowed applications that will issue as patents in the near future, and 68 pending applications at various stages of examination at the U.S. Patent and Trademark Office, in areas including nanotechnology (nanomagnetic particle coatings), radio frequency filters, polymer composites, thermoelectric materials for batteries generating power from body heat, and photonics. Biophan has joint development arrangements with Boston Scientific (NYSE: BSX) and NASA's Ames Center for Nanotechnology. Biophan's goal is to make all biomedical devices capable of safely and successfully working with MRI, and delivering other technologies which will improve quality of life. For more information, please visit www.biophan.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements included in this press release may constitute forward-looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: the development of Biophan's MRI technologies; the approval of Biophan's patent applications; the successful implementation of Biophan's research and development programs; the acceptance by the market of Biophan's products; competition 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. 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:
Biophan Technologies, Inc.
Carolyn Hotchkiss
585-214-2407
or
Press Interviews:
Jennifer Gould
212-843-8037

Copyright © Biophan Technologies

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