Biophan to Co-Sponsor First Seminar on ''Innovations in Magnetic Resonance Imaging'' at Society for Medical Innovations and Technology Conference.

ROCHESTER, N.Y. -- Seminar to Highlight Latest Developments to Improve MRI-Assisted Surgery and Other Medical Procedures

Biophan Technologies, Inc. (OTCBB: BIPH; FWB: BTN), a developer of next-generation medical technology, announced today that it is co-sponsoring and participating in a new symposium on Magnetic Resonance Imaging advancements at the upcoming Society for Medical Innovations and Technology (SMIT) eighteenth annual international conference to be held May 11-14, 2006 in Pebble Beach, California.

This year's SMIT conference is emerging as one of the most important and exciting meetings in the field of advanced medical innovations, featuring some of the latest advancements in a variety of arenas, such as novel medical device technologies and minimally invasive therapeutic techniques using MRI systems.

Biophan is co-sponsoring the first MRI technology symposium held at the SMIT annual conference. It will showcase Biophan's extensive portfolio of advanced technologies for improved MRI safe and image compatible stents, catheters, guidewires, pacemakers, neurostimulators and drug pumps. In addition, several senior representatives from Biophan will speak at the conference, including Dr. Andreas Melzer and Dr. Michael Friebe of Biophan Europe. Other senior Biophan executives that will be present include CEO Michael Weiner, Vice President of Engineering Jeff Helfer, and Nanolution Division President John Lanzafame.

"We are very pleased to be supporting this symposium on MRI Safety, MRI Interventions and Surgery at SMIT 2006, as it is clear that a convergence of capabilities, solutions and needs is expanding the theater for MRI guided minimally invasive procedures," said Dr. Andreas Melzer, SMIT General Secretary and 2006 Co-President. "This will enable new and improved medical procedures not previously possible. It is fitting that SMIT be the forum for this topic, as it has historically been a venue for the emergence of breakthroughs in minimally invasive procedures."

Biophan's mission is to address critical MRI safety limitations, such as tissue heating and induced electrical voltages that make pacemakers and other devices prohibited from use with MRI. Biophan's scientific innovations include novel device designs, filter technologies and thin-film nanomagnetic particle coatings. The Company is dedicated to leveraging its intellectual property and technology innovations to capitalize on growing opportunities in several multi-billion-dollar biomedical markets.

The conference roster of speakers includes an array of distinguished scientific pioneers, including William Haseltine discussing Regeneration; Nobel Laureate, Kary Mullis exploring the Artificial Immune System; and Arno Bueker and Ergin Atalar examining MR Safety and Compatibility of Medical Devices, Interventional and Intraroperative MRI.

SAVE THE DATE: This activity has been approved for PRA AMA Credit.

About the Society for Medical Innovations and Technology (SMIT)

The Society for Medical Innovations and Technology is an international society, formed in 1989 under the name "Society for Minimally Invasive Therapy" by an innovative group of medical practitioners led by John Wickham. The founding members were leaders in their fields and were dedicated to the multidisciplinary advancement of minimally invasive therapy in an attempt to reduce patient trauma arising from surgical operations or radiological interventions. The current membership base includes representatives from most medical specialties, instrument manufacturing, biomedical engineering and research. As to reflect this broader membership as well to attract further members not necessarily only within minimally invasive therapy, the name of the Society was formally changed to "Society for Medical Innovation and Technology" during the 12th Congress in the year 2000. For more information about the upcoming SMIT conference, please visit http://www.smit2006.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.