Biophan raises $2.9 million

Feb. 2, 2004 — Biophan Technologies Inc., a Rochester, N.Y., developer of MRI-related technologies, completed a $2.9 million round of financing, according to a news release.

SBI Brightline of Irvine, Calif., was the investor in the round. The company said it intends to use the funds to expand its patent portfolio, accelerate marketing programs and pursue potential strategic acquisitions, in addition to other activities.

Biophan develops technologies related to magnetic resonance imaging, including the use of nanomagnetic particle coatings for the purpose of shielding medical devices against interference from MRI.

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