Biophan gets $1 million Myo-Vad funding

By Elaine Rigoli

Tampa, Fla., June 29 - Biophan Technologies, Inc. received $1 million in development funding from the U.S. government to further the development of the Myo-Vad cardiac support system, after the House of Representatives passed the 2007 Department of Defense appropriations bill.

As part of this bill, the House approved the expenditure of $1 million for the development of Myotech's minimally invasive cardiac-assist device to increase survival rates of patients suffering from heart failure.

Additionally, the New York State Office of Science, Technology and Academic Research, provided $309,000 in equipment, which has been delivered and is being used at Alfred University in support of Biophan's nanomagnetic particle research and development in both MRI imaging and drug delivery.

Biophan, based in Rochester, N.Y., develops technologies for the medical-device industry.

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