**Exhibit
      99.1**








**NEWS
      RELEASE**





**Biophan
      Names Margaret V. Russell as Chief Financial Officer**





**PITTSFORD,
      NY—July 14, 2008 --** Biophan
      Technologies, Inc. (OTC BB: BIPH.OB), a developer of next-generation biomedical
      technology, today announced that the company has named Margaret V. Russell
      as
      chief financial officer.





Ms.
      Russell served as Partner, Director, and Senior Manager at Insero & Company
      CPA’s, P.C. since 2001. As a partner in the outsource accounting services group,
      she dealt with small public and high growth industry companies with specific
      knowledge in the software, pharmaceutical, and medical device industries. From
      1999 to 2001, Ms. Russell served as Manager
      of the Assurance and Business Advisory Services Division at Arthur Andersen
      LLP.
      Previously she also held the role of senior auditor at PricewaterhouseCoopers,
      LLP.





Commenting
      on the appointment, Biophan CEO John Lanzafame stated, “It is with great
      pleasure that we welcome Meg to the Biophan team. Her experience and expertise
      will provide a key source of strategic input, and she adds a dynamic element
      to
      our management group. Meg will play an essential role in developing a finance
      strategy to support the ongoing development of the Company’s
      assets.”





“I
      am
      very excited about this opportunity and the growth potential here at Biophan,”
stated Ms. Russell. “I look forward to contributing to the Company’s future
      growth and success, and am excited about the new direction of the
      Company.”





Ms.
      Russell is a graduate of both St. John Fisher College and SUNY at Fredonia.
      She
      is a CPA and member of the American Institute of Certified Public Accountants.





Biophan
      also announced the retirement of Robert
      J.
      Wood, who has served as Interim Chief Financial Officersince
      June 2007. “We thank Bob for his service and dedication during his tenure,” said
      John Lanzafame, Biophan’s CEO.








**About
      Biophan Technologies, Inc.**


Biophan
      is dedicated to providing technologies that offer innovative and competitive
      advantages to the medical device industry. The Company is helping to
      commercialize the Myotech Circulatory Support System, which has significant
      potential to improve the treatment of acute heart failure. Biophan Technologies,
      Inc. holds a 70% interest in Myotech with rights to acquire additional equity,
      and is leading Myotech's business development efforts. Biophan is traded on
      the
      OTC market under the symbol BIPH, and is also listed on the Frankfurt Stock
      Exchange under the symbol BTN. For more information on Biophan, please visit
      our
      website at www.biophan.com .





**Cautionary
      Statement Regarding Forward-Looking Statements**


Certain
      statements included in this press release may constitute forward-looking
      statements within the meaning of applicable securities laws. These statements
      reflect what Biophan anticipates, expect, or believe may happen in the future.
      Biophan's actual results could differ materially from the outcome or
      circumstance expressed or implied by such forward-looking statements as a result
      of a variety of factors including, but not limited to: Biophan's ability to
      develop its technologies; the approval of Biophan's patent applications; the
      successful implementation of Biophan's research and development programs; the
      ability of Biophan to demonstrate the effectiveness of its technology; the
      acceptance by the market of Biophan's technology and products incorporating
      such
      technology; the ability of Biophan to effectively negotiate and enter into
      contracts with medical device manufacturers for the licensing of Biophan's
      technology; competition; the ability of Biophan to raise capital to fund its
      operating and research and development activities until it generates revenues
      sufficient to do so; and the timing of projects and trends in future operating
      performance, as well as other factors expressed from time to time in Biophan's
      periodic filings with the Securities and Exchange Commission (the "SEC"). As
      a
      result, this press release should be read in conjunction with Biophan's periodic
      filings with the SEC, which are incorporated herein by reference. The
      forward-looking statements contained herein are made only as of the date of
      this
      press release, and Biophan undertakes no obligation to publicly update such
      forward-looking statements to reflect subsequent events or circumstances.








**Contact:**


Carolyn
      Hotchkiss


Communications
      Manager


Biophan
      Technologies, Inc.


(585)
      267-4800


chotchkiss@biophan.com