Altair Nanotechnologies Enters Into In Vivo Testing of RenaZorb With Second Pharmaceutical Company.Business Editors & Health/Medical Writers RENO, Nev.--(BUSINESS WIRE)--Jan. 27, 2003 Altair Nanotechnologies Inc. (Nasdaq:ALTI) announced that it has entered into a testing agreement with a second pharmaceutical company for 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. (animal) evaluation of RenaZorb(TM), its new pharmaceutical candidate for phosphate control in kidney dialysis Dialysis, Kidney Definition Dialysis treatment replaces the function of the kidneys, which normally serve as the body's natural filtration system. patients. Under the terms of the agreement both Altair and the company doing the testing will own data provided from the evaluation. "It is significant that RenaZorb is now being evaluated by a second pharmaceutical company," commented Altair Nanotechnologies President Dr. Rudi E. Moerck. "At the conclusion of the testing period, RenaZorb will have been tested in dogs and rats. These data will provide Altair the ability to determine the expected market potential of RenaZorb for the treatment of elevated phosphate levels in human kidney dialysis patients," added Moerck. Altair has developed three versions of RenaZorb. Because of their inherent molecular composition, versions "B" and "H" afford significantly higher acid binding and phosphate binding capacity than the benchmark drug lanthanum carbonate lanthanum carbonate Fosrenol Pharmacologic class: Phosphate binder Therapeutic class: Renal and genitourinary agent Pregnancy risk category C Actiontetra hydrate hydrate (hī`drāt), chemical compound that contains water. A common hydrate is the familiar blue vitriol, a crystalline form of cupric sulfate. Chemically, it is cupric sulfate pentahydrate, CuSO4·5H2O. ("LCTH"). Laboratory testing has shown that higher acid binding capacity always resulted in significantly less overall 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. in solution than observed with LCTH, the benchmark material.Confirmation of the laboratory observation of lower lanthanum levels is expected with the completion of animal studies with RenaZorb. Lanthanum carbonate tetra hydrate is currently under review by the 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. for approval as a new drug for control of elevated phosphate levels in kidney dialysis patients. Altair is currently seeking a pharmaceutical partner to advance RenaZorb through the FDA approval cycle with eventual worldwide approval. The market for phosphate binders Phosphate binders are a group of medications used to reduce the absorption of phosphate and taken with meals and snacks. They are typically used in patients with chronic renal failure (CRF) as they cannot get rid of the phosphate that gets into their blood (i.e. is currently $400 million- $600 million with the largest potential marketplaces for RenaZorb being the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Japan and Europe. Today, the only approved non-calcium-based drug for phosphate control in kidney dialysis patients is Renagel(TM) marketed by Genzyme. 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 nanomaterials and technology 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, fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, paints and environmental remediation. For additional information on Altair's 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 and future results and to be materially different than suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, the successful testing, FDA approval and commercialization of RenaZorb, the company may be unable to attract or form relationships with pharmaceutical companies, or have the funds necessary to development additional products or create product opportunities within the pharmaceutical industry, in addition to other risks 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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