ROCHESTER, N.Y.--(BUSINESS WIRE)--May 19, 2006--Biophan Technologies, Inc. (OTCBB: BIPH; FWB: BTN), a developer of next-generation medical technology, announced today that it has exercised a call requiring SBI Brightline XI, LLC to purchase 1 million shares of Biophan Common Stock at a price of $2 per share, as part of its financing agreement with SBI. Under the financing agreement, Biophan has the right, at any time at its sole discretion, to require SBI to purchase up to 9 million more shares of Common Stock at prices ranging from $2 to $4 per share. If the facility is fully utilized, the Company would receive aggregate proceeds of $30 million, at an average price of $3 per share.
