Biophan Technologies, Inc. Completes Deal With Medtronic, Inc.; Company Receives Payment to Complete $11 Million Sale of MRI Safety Patents
PITTSFORD, NY--(MARKET WIRE)--Oct 10, 2007 -- Biophan Technologies, Inc. (OTC BB:BIPH.OB - News), a developer of next-generation biomedical technology, today announced that it has closed the recently announced sale of the MRI safety portion of the Company's patent portfolio to Medtronic, Inc. Biophan received a final payment of $10 million, in addition to the $1 million received previously.