To: GARY P GROBBEL who wrote (17014 ) 1/17/2004 2:17:06 AM From: John F. Poteraske Respond to of 120415 BIPH-Some more Newsbiz.yahoo.com Biophan Expands Rights with Nanotechnology Partner Friday January 16, 5:54 pm ET ROCHESTER, N.Y.--(BUSINESS WIRE)--Jan. 16, 2004--Biophan Technologies, Inc. (OTC BB: BIPH), an innovator, developer and marketer of advanced biomedical technology, today announced it has secured additional technology rights expanding its exclusive license for use of nanomagnetic particle and other technology. Michael Weiner, chief executive officer of Biophan, made the announcement. The technology rights are granted under an expanded license agreement executed on January 15, 2004 with Nanoset, LLC that increases Biophan's rights to technology that may be applied to medical devices and other uses. The expanded rights include the exclusive right to any technology that affects magnetic resonance imaging (MRI) safety or image compatibility or involves an implantable power system. Under the license agreement, Biophan currently has rights to two United States patents and twelve pending United States patent applications. In addition Nanoset has received an indication from the United States Patent Office of allowablity for many of the claims of a patent application that relates to the Nanoview technology previously announced. "It should be clear that Biophan is continuing to successfully implement its strategic plan of creating a very substantial and diversified biomedical portfolio," stated Mr. Weiner. "With these additional rights, we believe management and the board of directors have demonstrated our commitment to capitalize on these exciting nanotechnology and other technology markets." Mr. Weiner concluded by noting, "With the proceeds from our recent financing, Biophan is well fortified to compete in these fast moving markets. We are well positioned to exploit our current technology and acquire complementary technology." About Nanoset, LLC Nanoset, LLC, based in East Rochester, NY, develops nanomagnetic particle coatings. Nanoset's research and development has been conducted with Alfred University, a world leader in ceramics and thin-film coatings. Nanoset and Biophan are jointly developing technologies for the medical device industry. About Biophan Technologies, Inc. Biophan Technologies develops and markets cutting-edge technologies used to make biomedical devices--such as cardiac pacemakers, surgical and diagnostic tool--safe and compatible with magnetic resonance imaging (MRI) equipment and other sources of powerful magnetism or radio frequency signals. Committed to growth through innovation and developmental leadership, Biophan's management holds exclusive licenses for four issued U.S. patents and has filed 51 related patents that will help establish Biophan products as the standard of care in each of their markets. For more information, please visit www.biophan.com.