ROCHESTER, N.Y.--(BUSINESS WIRE)--Jan. 17, 2006--Biophan Technologies, Inc. (OTCBB: BIPH; FWB: BTN), a developer of next-generation medical technology, today filed its Form 10-Q quarterly report for the Company’s third quarter ending November 30, 2005. The Form 10-Q includes disclosure of the results of operations for the quarter, an update of the nature of the business, a brief description of our relationship with Boston Scientific, an update on our intellectual property portfolio, and the acquisition of a substantial minority interest in MYOTECH, LLC. The Company also reported revenues resulting from an initial payment of $750,000 under the Boston Scientific license agreement, received in August, 2005, and an additional payment of $250,000 for the first annual maintenance fee. The current quarter reflects the revenue recognition of a portion of the $750,000, and subsequent quarters will also recognize the $250,000.
