Biophan Introduces the World's First MRI-Compatible Pacemaker Technology.

Business Editors/Health Writers

ROCHESTER, N.Y.--(BW HealthWire)--Nov. 1, 2001

Breakthrough allows pacemaker wearers to undergo

the crucial diagnostic scan, used to detect everything

from cancer to degenerative disease

Biophan Technologies, Inc. (OTC BB: BIPH) today announced that it has developed groundbreaking technology that, for the first time, will allow cardiac patients with implantable pacemakers to undergo magnetic resonance imaging (MRI).

Conceived by Wilson Greatbatch, the inventor of the implantable pacemaker and its lithium battery, the new technology replaces the current pacemaker's metal cable with a fiber optic one, and uses the first-ever implantable laser to regulate a patient's heartbeat.

"This technology solves a monumental problem for pacemaker patients and will become the new industry standard," says Wilson Greatbatch, co-inventor of the MRI-compatible pacemaker technology and Chairman of Biophan's Scientific Advisory Board. "More than three million people currently have pacemakers and at least 600,000 new pacemakers are implanted each year, preventing millions with current pacemakers from undergoing crucial MRI screening. Biophan's new pacemaker will now allow these individuals to safely undergo the life-saving diagnostic test."

Current pacemaker design includes a metal wire, about a foot in length that connects the pacemaker to the heart. Under an MRI, the wire can get very hot, which can ablate the blood vessels, scar the heart, and potentially induce a rapid heart condition, which can be fatal. The wire also picks up radio frequency interference, which can impair the pacemaker's performance. As a result, the pacemaker is contraindicated with MRI imaging equipment.

Biophan's technology replaces the metal wire with a fiber optic cable and includes the first-ever implantable semiconductor laser, which operates under very low power and regulates the heart's beat. This completely eliminates the dangers that are caused by the exposed metal under an MRI scan. A photodiode in the catheter's tip, where it connects to the heart, will also provide sensing functions including R wave analysis of the EKG, temperature, pressure and flow.

Biophan's MRI-compatible pacemaker technology provides the same functionality as current models, but it will finally allow patients to take advantage of the MRI and other magnetic imaging devices, some of the most important diagnostic and treatment tools in medicine.

Biophan will serve as a supplier to the seven to eight billion dollar cardiac pacemaker industry. Biophan has more than a dozen patents pending for the technology, including the first implantable laser, which has a myriad of potential uses in treating various diseases.

About Biophan

Biophan, based in Rochester and Buffalo, New York, is currently focusing on two technologies. The first is new proprietary technology that will enable implantable cardiac pacemakers and other life-sustaining medical devices to operate in the presence of magnetic resonance imaging (MRI) equipment. The underlying technology, which was acquired by the Company, is based on patent applications and proprietary knowledge developed by Wilson Greatbatch, the inventor of the original implantable cardiac pacemaker. The second technology is proprietary antisense gene therapy technology to inhibit the spread of human immunodeficiency virus (HIV-1) infection in conjunction with the use of lentiviral vectors. This technology is based on patents issued to Mr. Greatbatch and acquired by the Company.

Safe Harbor Statement:

Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 and gene therapy 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.