Biophan Receives 'Buy' Rating from Leading European Analyst MIDAS Research; Research Report Notes Biomedical Company for Innovative Nanotechnology-Based Solutions and Receives $4.20 Price Target.

ROCHESTER, N.Y. -- Biophan Technologies, Inc. (OTCBB: BIPH - News), a developer of next-generation biomedical technology, has received an unqualified "buy" rating in an independent, third-party research report written by a leading German analyst, MIDAS Research GmbH. The report, paid for by Biophan, is available online in an English-language edition at http://www.midasresearch.de/netengine.php ?uid=C6da95a89fdfbb90e646c6f49e7873e34# (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) Or at the Midas homepage at www.midasresarch.de. Select "Research," then " English Language Research" for the English version. The report is also available in German.

The report, entitled, "Enabling the Evolution of Medical Devices," provides a comprehensive, 19-page corporate overview and analysis of Biophan, accompanied by graphics and illustrations. It discusses the Company's wide range of innovative biomedical solutions and potential for market success, as well as a recent landmark technology licensing agreement with Boston Scientific, a major strategic partner.

The report calls the Company "undervalued" even when using a "conservative" valuation model.

CEO Michael Weiner said, "The enthusiastic MIDAS report will be of great assistance in our ongoing efforts to communicate effectively the importance and market potential of our innovations to the European financial community and to the global medical device market at large. Although Biophan commissioned this report, we believe it to be an objective analysis of Biophan and its medical technologies. The report is MIDAS's independent work product and Biophan did not participate in MIDAS's analysis. The conclusions stated in the report are those of MIDAS and do not necessarily reflect the expectations or internal projections of Biophan management"

Biophan's mission is to develop technologies to improve medical devices and to bring those technologies to market through strategic partnerships. Highlighted in the report are examples of Biophan's medical technologies, including novel solutions to make the interior of stents image-compatible within Magnetic Resonance Imaging (MRI) environments.

Biophan has developed a wide range of MRI-enabling technologies for pacemakers, defibrillators, neurostimulators, stents, vena cava filters, catheters, guidewires, drug pumps, and other devices.

Currently, due to various safety and compatibility problems, millions of patients with implanted pacemakers, neurostimulators, and other devices are denied access to MRI systems.

In a major milestone, Biophan recently signed an agreement to license some of its proprietary medical device technologies to global medical manufacturer, Boston Scientific (NYSE: BSX - News). Biophan is also in discussions with other major medical manufacturers.

The MIDAS group additionally notes in a separate letter addressed to investors about the availability of their report that Biophan is among the "most discussed" and deserving foreign equities listed in Germany. Biophan is listed on the Frankfurt Stock Exchange under the symbol BTN, and the U.S. OTC market as BIPH.

About MIDAS Research

MIDAS Research GmbH is an independent stock research company with a global focus on emerging industries and undervalued small caps, particularly in the field of life sciences. For further information, please contact: [e-mail], or call Michael Drepper at tel. [phone].

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 implanted medical systems such as pacemakers, interventional surgical devices such as catheters and guidewires, and devices such as stents to be safely and effectively imaged under MRI. Biophan is developing these same technologies to provide new MRI contrast agents. Other applications include drug delivery and power systems derived from body heat. Four Biophan technologies include advances in nanotechnology and thin film coatings. Committed to growth through innovation and developmental leadership, Biophan and its licensors now hold a total of 144 U.S. patents, licenses, or applications. This total includes 41 issued U.S. patents, 9 recently-allowed applications that will issue as patents in the near future, and 94 pending applications at various stages of examination at the U.S. Patent and Trademark Office, plus international applications. The patents cover areas including nanotechnology (nanomagnetic particle coatings), medical device designs, radio frequency filters, polymer composites, thermoelectric materials for batteries generating power from body heat, and photonics. Biophan has joint development and licensing agreements with Boston Scientific (NYSE: BSX - News) 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 quality of life. 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.