MRI device developer Biophan Technologies has formed a new business development entity, Biophan Business Development Group, to capitalize on the firm's intellectual property portfolio through the expansion of licensing agreements.
Biophan said it will fund the new group's activities through resources to be made available from a financing facility of up to $30 million, to be provided by SBI Brightline XI, recently established at a weighted average fixed price of $3 per share, according to the West Henrietta, NY-based company.
By AuntMinnie.com staff writers
August 26, 2005
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