Advanced a series of highly successful and encouraging acute animal trials in pigs. These initial studies demonstrate the feasibility of MRI imageable stents as a solidly viable concept and to establish whether diagnosing restenosis, or the re-clogging of arteries through unwanted tissue growth, can be imaged using MRI.
Based on these results, Biophan Europe intends to launch chronic animal studies, the next major preclinical testing phase, expected to begin in Q2 2006.
MRI-Visible Vena Cava Filter:
Further advanced a successful preclinical animal study collaboration related to MRI-vena cava filter imageability with a major strategic development partner in Germany, the University of Aachen. The study is designed to show, first, that this device would inherently be an effective filter, and, second, that this filter, as well as all other procedural tools used for this implantation procedure, would be fully compatible under MRI guidance, and would show the filters status under MRI.
This first testing phase of the filter is expected to be completed in Q1 2006. With further development progress, Biophan Europe expects to accelerate this product line to market.

MRI-Visible Stent-Based Heart Valve:
Completed preclinical animal trials in December, successfully demonstrating the conceptual feasibility and MRI imageability of a stent-based heart valve in a joint project spearheaded by Dr. Andreas Melzer with the National Institutes of Health (NIH), in Bethesda, Maryland;
Based on these successful results, the first applications in which the heart valve will be implanted in human volunteers for further examination, are expected to begin in 2006.
MRI-Visible Occlusion Device:
Filed a number of significant patent applications to cover additional breakthrough technologies related to development of an MRI-visible occluder, an implant designed to cure heart wall defects.
Additional Intellectual Property Expansion:
Biophan Europe is also developing several additional product prototypes, for which patent protections have been filed. Additional details about these MRI-related technologies were not announced at this time.
Additional Honors and Recognition:
Published an article written by Dr. Friebe about the future of MRI systems in interventional medical procedures. The article appeared in the IAMERS Newsletter, published by the International Association of Medical Equipment Remarketers & Servicers (Oct. 2005);
Received a prominent award for a research presentation from the leading group, the European Society on MRI technology, which formally presented the honor at a scientific conference held in Basel, Switzerland (Sept. 2005);

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