Biophan Technologies Files 8-K Providing NASA Conference Call Transcript

Business Wire, August 24, 2004

ROCHESTER, N.Y. -- Conference Call Provided Detail to Company's Joint Development Agreement with NASA's Ames Research Center

Biophan Technologies, Inc. (OTCBB: BIPH), a leading developer of next-generation biomedical technology, announced today that it has filed an 8-K with the Securities and Exchange Commission providing a transcript of the Company's investor conference call on Thursday, August 19, during which Biophan CEO Michael Weiner detailed to investors and other interested parties information on the Biophan/NASA's Ames Research Center agreement calling for characterization and joint development of high-density, nano-engineered thermoelectric materials for use with implantable medical devices. Research will be conducted at the NASA Ames Research Center for Nanotechnology, Moffett Field, CA.

NASA hopes to use Biophan's innovative biothermal power solution to develop new on-board power for astronaut health monitors.

Biophan is developing new power systems for implantable medical devices using body heat to generate power. These are intended to replace or augment traditional power systems, such as lithium iodine batteries. By using the body's generation of heat as a power source, significantly longer life power systems are possible.

"We believe this agreement with NASA validates the potential opportunity for a biothermal battery, now possible due to major advances in thermoelectric materials," stated Mr. Weiner. "Nanotechnology provides the ability to put thousands and thousands of these small semi-conductor nodes, or biothermal batteries, which convert heat to electricity in an extraordinarily small space."

Interested parties are encouraged to read a transcript of the conference call, available at http://www.biophan.com/081904_Transcript.php.

About Biophan Technologies

Biophan Technologies develops and markets cutting-edge technologies designed to make biomedical devices safe and compatible with magnetic resonance imaging (MRI) equipment. The Company develops enabling technologies for implanted medical systems such as pacemakers, and interventional surgical devices such as catheters and guidewires, as well as stents and other implants that can be safely and effectively imaged under MRI. The technology is also being used to create enhanced MRI contrast agents. Committed to growth through innovation and developmental leadership, Biophan and its licensors have 19 issued U.S. patents and 61 patents pending, in areas including nanotechnology (nanomagnetic particle coatings), radio frequency filters, polymer composites, biothermal batteries, and photonics. Biophan's technology will help realize its goal of one day making all biomedical devices capable of safely and successfully working with MRI. For more information, please visit www.biophan.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements included in this press release may constitute forward-looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: the development of Biophan's MRI technologies; the approval of Biophan's patent applications; the successful implementation of Biophan's research and development programs; the acceptance by the market of Biophan's products; competition and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in Biophan's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Biophan's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and Biophan undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.