ROCHESTER, N.Y.--(BUSINESS WIRE)--Jan. 25, 2006--Biophan Technologies, Inc. (OTCBB: BIPH; FWB: BTN), a developer of next-generation biomedical technology, reported in a Form 8K filed today with the SEC that it has received a $5 million credit facility from Biomed Solutions, LLC, a company headed by Biophan’s CEO Michael Weiner. The facility provides working capital to Biophan. Biophan has not yet been able to utilize the $30 million fixed price financing committed to it by SBI Brightline XI, LLC, which cannot be drawn down until Biophan’s registration statement (currently on file with the SEC) is declared effective. The financing from SBI results in an average weighted price of $3 per share assuming Biophan elects to sell the full 10 million shares to SBI.
