Biophan Technologies Announces Joint Development Agreement With Boston Scientific Goal is to create MRI-safe and MRI-image compatible medical devices ROCHESTER, N.Y., Nov. 5 /PRNewswire-FirstCall/ -- Biophan Technologies, Inc. (BULLETIN BOARD: BIPH) today announced that it had entered into a joint development agreement with Boston Scientific Corporation to make medical devices more compatible with magnetic resonance imaging (MRI) technology. The two companies will also be exploring possible licensing agreements. Details of the agreement were not disclosed. The joint development agreement seeks to resolve problems caused by the interference of metal objects, including those in some medical devices, with MRI technology. This interference can obscure images of tissue, bone and metal in areas near metal objects and can raise safety concerns. As a result, some medical devices are not permitted to be used with MRI diagnostic tools. Biophan has developed technologies that can address the safety and image- compatibility issues. Recent research by Biophan and scientists at the University of Rochester and Alfred University have confirmed that Biophan's coating technology can significantly reduce image interference caused by metal objects (see press release, "Biophan Technology Enhances MRI Images," July 15, 2003, at http://www.biophan.com/release_071503.php). "We are pleased to be working with Boston Scientific on the demonstration of our technology on specific products that today are limited for use with MRI," said Michael Weiner, Biophan Chief Executive Officer. "Biophan's goal is to make medical devices both safe and image compatible with MRI imaging. The relationship with Boston Scientific is a significant opportunity for us." Biophan, based in Rochester, New York, develops and markets technology to enable biomedical devices, both for interventional medicine, and implantable devices such as cardiac pacemakers and the other life sustaining medical devices, to be safe and compatible with magnetic resonance imaging (MRI) and other equipment using magnetic fields and radio waves. This MRI safe and compatible technology will be utilized in temporary and implantable pacemakers, implantable cardioverter-defibrillators and other medical equipment. For more information, please visit http://www.biophan.com/. Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com/. 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 the Company's MRI technologies; the approval of the Company's patent applications; the successful implementation of the Company's research and development programs; the acceptance by the market of the Company'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 the Company's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. DATASOURCE: Biophan Technologies, Inc. CONTACT: Michael Weiner, Chief Executive Officer, Biophan Technologies, Inc., +1-585-214-2441, Web site: http://www.biophan.com/

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