Biophan Files Broad Patent on Use of Halloysite Nanotubes for New Drug Delivery Applications.

ROCHESTER, N.Y. -- Collaboration with NaturalNano Focuses on Development of Technologies for Controlled Release of Drugs in Variety of Medical Uses

Biophan Technologies, Inc. (OTCBB: BIPH)(FWB: BTN), a developer of next-generation medical technology, announced today that it has filed a broad patent as part of its collaboration with strategic partner NaturalNano (OTCBB: NNAN) on novel drug delivery technologies involving applications of naturally occurring nanotubes found in halloysite clay.

Biophan and NaturalNano are collaborating to develop products using the nanotubes as advanced drug delivery systems in a number of proprietary biomedical applications. Biophan's newly filed patent application covers biomedical uses of the nanotubes for a range of products, including bandages, wound healing applications, and other uses. Other advanced drug delivery technologies that Biophan will focus on involve using electromagnetic fields for active elution. Under a previously reached agreement between the companies, Biophan holds the worldwide exclusive rights to NaturalNano's nanotube technologies for the medical and pharmaceutical markets.

NaturalNano is working with Biophan's drug delivery division, Nanolution, to develop and market the nanotube-based technologies.

NaturalNano develops products and technologies based on naturally occurring nanotubes found in halloysite clay, whose unique properties present a range of potentially valuable commercial applications. Scientists at NaturalNano are developing proprietary methods and hold or have licensed in multiple pending and issued patents for separating the nanotubes and processing them for use in a variety of commercial applications, such as additives in polymers and plastics, electronic components, cosmetics, and absorbent materials. Prototypes in development include nanotube-enriched paint that can block radio frequency signals, such as cell phone signals, and other technology that allows radio frequency signals to enter an otherwise shielded environment.

"NaturalNano's halloysite-derived nanotubes have unique properties that make them extremely promising for development in biomedical applications," said John Lanzafame, President of Biophan's Nanolution division "We believe this partnership with NaturalNano will lead to a new class of long lasting controlled release agents for drugs and other materials, in medical device coatings and for pharmaceutical compounds."

In related news, Biophan announced it has achieved a new corporate milestone with the recent issuance of two major U.S. Patents related to MRI safety and compatibility, bringing the Company portfolio's total to 50 issued U.S. patents. Biophan's two newly announced patents come in addition to the Company's 106 pending patent applications, and 57 additional international patent applications at various stages of prosecution, for a total of 213 pending and issued patents.

About NaturalNano Inc.

NaturalNano, Inc. (OTC Bulletin Board: NNAN) (FWB: N3N) is a materials science company developing unique and proprietary processes for refining naturally occurring nanotubes and other nanomaterials that add competitive properties to a range of applications. These include additives to cosmetics and personal care products, and absorbent materials, as well as: electromagnetic interference shielding, specialty coatings, and material additives for industrial polymers, plastics and composites. NaturalNano possesses broad intellectual property rights and proprietary know-how for extraction and separation processes, compositions, and derivatives of halloysite and other nanotubes. For more information, please visit www.naturalnano.com.

About Biophan Technologies

Biophan develops and markets cutting-edge technologies designed to make biomedical devices safe and image compatible with the magnetic resonance imaging (MRI) environment. The Company develops technologies that enable medical systems such as pacemakers, interventional surgical devices such as catheters and guidewires, and implants such as stents to be safely and/or effectively imaged under MRI. Biophan is developing these same technologies to provide new MRI contrast agents. Other applications include drug delivery and power systems which derive energy from body heat. Biophan also has a minority interest in MYOTECH, LLC to help develop and commercialize the MYO-VAD(TM), a novel, MRI- compatible ventricular assist device which has significant potential for improving the treatment of many forms of heart failure. Committed to growth through innovation and developmental leadership, Biophan and its licensors now hold a total of 156 U.S. patents, licenses, or applications, plus international applications. This total includes 50 issued U.S. patents, 8 recently-allowed applications that will issue as patents in the near future, and 98 pending applications at various stages of examination at the U.S. Patent and Trademark Office. The patents cover areas including nanotechnology (nanomagnetic particle coatings), medical device designs, radio frequency filters, polymer composites, thermoelectric materials, and photonics. Biophan has joint development and licensing agreements with Boston Scientific 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 the delivery of healthcare. Biophan is also listed on the Frankfurt Stock Exchange under the ticker symbol BTN. 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 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.