Pro-FDA Environment in MRI Industry May Be a Boost to Biophan is a current news story on River Belle Online Casino
28 Sep 2004 Related News:Pro-FDA Environment in MRI Industry May Be a Boost to Biophan
Distribution Source : Market Wire
Date : Monday - September 27, 2004
AXcess News (www.axcessnews.com) released a story covering the recent move by the FDA to speed development of MRI-compatible implants following Biophan Technologies, Inc. (OTC BB: BIPH) announcement that it filed 12 more MRI-related patents Friday.
That news fell on the heels of a story last week that cited the FDA's plans to speed development of MRI-compatible implants.
The FDA has funded $21 million for its scientists to test ways of improving MRI safety for patients while manufacturers are working to develop new technologies that can expand MRI capabilities and break the barrier of entrance into market.
Medical device stocks ended the week up, led by Boston Scientific Corp. after inking a deal with specialty drug maker Angiotech Pharmaceuticals Inc. for the exclusive rights to use the cancer drug paclitaxel on its drug-coated coronary stents. Boston Scientific is also working with Biophan to develop its MRI technologies and could step up its involvement following Biophan's latest round of patent filings.
According to Biophan the patents filed Friday, "outline new advances in the use of Magnetic Resonance Imaging (MRI), as well as nanotechnology coatings, biothermal batteries and opto-electric controls for implanted medical devices."
Biophan's President Michael Weiner called the patents "milestones in broadening Biophan's intellectual property portfolio."
Nine of the twelve newly filed patents are related to the Company's 'anti-antenna' geometries for stent designs, enabling the manufacture of stents that do not interfere with MRI imaging of the stent interior.
Boston Scientific's recent attention to stents [coating stents with paclitaxel] puts a different perspective on Weiner's comments when he called the patent filings "milestones."
The company had not comment on their development work with Boston Scientific following their press release on the patent filings Friday.
Johnson & Johnson Inc. said its Cordis devices unit plans to present data at a heart conference next week showing head-to-head real world data comparing safety and efficacy rates of its Cypher coronary stent, coated with the immunosuppressive drug Sirolimus, with Taxus data.
Biophan Technologies, Inc. (OTC BB: BIPH) closed up 5 cents, or 6.5%, to end the week's session at $.81. Boston Scientific closed up 49 cents at $38.28 and Johnson & Johnson closed down 1 cent at $56.55, but gained 10 cents in the extended session.
More news on the investment horizon for the medical device sector can be found at AXcess News: http://www.axcessnews.com. This is an excerpt from the complete story. More companies were covered in that news in the Health section of AXcess News.
About AXcess News:
Dubbed the "Yahoo! of small cap business news" by Gordon Borrell, one of America's leading media and research gurus, AXcess News is fast becoming a known commodity for both the serious investor and people in general looking for informed articles and insightful columns. http://www.axcessnews.com
Media Contact:
Eric Stevenson
Of AXcess News
+1-775-972-7128
eric@axcessnews.com
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