October 9, 2007 - Biophan Technologies Inc., a developer of biomedical technology, announced it has closed the $11 million cash sale of a portion of its patents to Medtronic and it will invest $1.2 million in Myotech, in order to position itself in the acute heart failure treatment market.
The first transaction was completed with its note holders, providing approvals necessary to close Biophan’s deal with Medtronic for an $11 million cash sale of a portion of the Company's patents.