Altair Nanotechnologies' RenaZorb Begins Animal Testing; First Nanotechnology Based Drug for Phosphate Control in Kidney Dialysis Patients -- a $400 to $600 Million Market.Business Editors & Health/Medical Writers RENO, Nevada--(BUSINESS WIRE)--Dec. 4, 2002 Altair Nanotechnologies (Nasdaq:ALTI) today announced that RenaZorb(TM), its new non-calcium containing pharmaceutical for removal of phosphate ions from patients with end-stage renal disease End-stage renal disease (ESRD) Total kidney failure; chronic kidney failure is diagnosed as ESRD when kidney function falls to 5-10% of capacity. Mentioned in: Chronic Kidney Failure end-stage renal disease undergoing kidney dialysis Dialysis, Kidney Definition Dialysis treatment replaces the function of the kidneys, which normally serve as the body's natural filtration system. , has begun in vivo in vivo /in vi·vo/ (ve´vo) [L.] within the living body. in vi·vo adj. Within a living organism. in vivo adv. testing in animals. This battery of tests will determine if RenaZorb performs as well in animals as in the in vitro in vitro /in vi·tro/ (in ve´tro) [L.] within a glass; observable in a test tube; in an artificial environment. in vi·tro adj. In an artificial environment outside a living organism. laboratory tests. The testing should be completed by the end of February 2003 and is being conducted at no expense to Altair. "It is significant that RenaZorb is being tested in dogs," commented Dr. Rudi E. Moerck, president of Altair Nanotechnologies. "The testing will not be harmful to the dogs. As a matter of fact, we are in contact with the K9 Kidney Foundation, a non-profit organization A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. , through which the drug could possibly be made available for dogs with kidney failure kidney failure or renal failure Partial or complete loss of kidney function. Acute failure causes reduced urine output and blood chemical imbalance, including uremia. Most patients recover within six weeks. ." In earlier laboratory testing RenaZorb removed 140 mg phosphate from simulated stomach acid per gram of drug within 20 minutes. This phosphate capacity and rapid rate of reaction is unprecedented for this class of drug. "In addition to possibly confirming our laboratory results, the animal testing should also ascertain if RenaZorb binds phosphate efficiently when food is present and establish the degree of absorption of the drug into blood serum Blood serum A component of blood. Mentioned in: Bites and Stings blood serum the residual fluid of blood after clotting has occurred. It is plasma after the fibrinogen has been removed. . Although we expect good results in the animal model, there is no assurance that the drug will behave as well as it did in the laboratory in animal testing. "RenaZorb was specifically designed to selectively bind phosphate ions and at the same time remain insoluble in the gastrointestinal tract gastrointestinal tract n. The part of the digestive system consisting of the stomach, small intestine, and large intestine. Gastrointestinal tract ," noted Moerck. RenaZorb is a nano-particle sized lanthanum lanthanum (lăn`thənəm) [Gr.,=to lie hidden], metallic chemical element; symbol La; at. no. 57; at. wt. 138.9055; m.p. about 920°C;; b.p. about 3,460°C;; sp. gr. 6.19 at 25°C;; valence +3. based ceramic material with a large surface area that allows a rapid binding reaction with phosphate ions over a wide pH range. Altair possesses technology that allows customization of the surface of the drug and thus can target specific reaction rates with phosphate ions. In patients needing phosphate control, the drug would be used three times a day and would be taken after meals. The total effective dosage is expected to be between one and two grams per day, an amount that is significantly lower than existing or proposed drugs for phosphate control in kidney dialysis patients. The total market for drugs to control phosphate in kidney dialysis is estimated to be $400 to $600 million. Altair believes that this market could grow to more than $1 billion if issues such as high dosage levels, patient compliance, and the high cost of existing approved drugs in this therapeutic class are addressed. Altair is in discussions with several large pharmaceutical companies interested in licensing RenaZorb. Altair Nanotechnologies Inc. Nanotechnology is rapidly emerging as a unique industry sector. Altair Nanotechnologies is positioning itself through product innovation within this emerging industry to become a leading supplier of nanomaterial technology and nanomaterials worldwide. Altair owns a proprietary technology for making nanocrystalline materials of unique quality both economically and in large quantities. The company is currently developing special nanomaterials with potential applications in pharmaceuticals, batteries, fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, cosmetics, paints and environmental remediation. For additional information on Altair and its nanoparticle materials, visit www.altairnano.com Forward-Looking Statements This release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, biological testing of the pharmaceuticals may not be successful, the pharmaceuticals may not obtain FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approval and Altair, without the assistance of a strategic partner, may not be capable of funding the FDA approval cycle. Additionally, the company may be unable to attract additional customers, fund additional research or product development through its sales and branding campaign. The company may never earn sufficient revenues to be profitable; its nanoparticle products may not be integrated into any major market groups and products. In addition, other risks are identified in the company's most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , as filed with the SEC. Such forward-looking statements speak only as of the date of this release. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events. |
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