Biophan Acquires Intellectual Property Portfolio of Nanoset, LLC

Biophan Technologies, Inc.,  a developer of next-generation biomedical technology, today announced that the Company has acquired the patent portfolio of Nanoset, LLC, a private company and technology collaborator.

The Nanoset intellectual property acquisition includes over 15 issued patents and a number of patent applications covering various uses of nanomagnetic materials, including MRI image compatibility and novel materials and methods for targeted drug delivery. This technology was previously licensed to Biophan, but was limited to medical fields. This acquisition removes the limitation, providing additional license opportunities for this unique technology which also has applications in the communications and defense industries.

John Lanzafame, Biophan’s CEO, stated, “This acquisition provides a number of benefits to Biophan. The applications for MRI image compatibility are included in our license to Boston Scientific, and this purchase eliminates an outgoing royalty obligation for the Company. In addition, we will target grants and strategic partnerships to develop some of the other applications for this technology, including therapeutic delivery and non-medical applications, opening up additional licensing opportunities.”