ROCHESTER, N.Y.--(BUSINESS WIRE)--June 29, 2006--Biophan Technologies, Inc. (OTCBB:BIPH - News; FWB:BTN), a developer of next-generation medical technology, announced today the allocation this week of $1 million in development funding from the U.S. government to further the development of the MYO-VAD(TM) cardiac support system. On June 20, the House of Representatives passed the 2007 Department of Defense Appropriations Bill. As part of this bill, the House approved the expenditure of $1 million for the development of MYOTECH's minimally invasive cardiac-assist device to increase survival rates of patients suffering from heart failure.
