RENO, Nev., April 11, 2003 (PRIMEZONE) -- Altair Nanotechnologies, Inc. (Nasdaq:ALTI) announced today that it has retained RBC Capital Markets as its exclusive financial advisor to assist the company with a comprehensive evaluation of its strategic alternatives pertaining to RenaZorb(tm), Altair's new drug candidate for the removal of phosphate ions in kidney dialysis patients. The two companies will develop and execute a strategy to maximize the value of Altair's investment in RenaZorb.
"Our primary responsibility is maximizing shareholder value," said Altair President Dr. Rudi E. Moerck. "As such, we have engaged RBC to identify and introduce management to companies within the pharmaceutical industry that have an interest or a need for products addressing phosphate removal. RBC's strong presence within the industry will be invaluable as we develop and evaluate our alternatives for licensing RenaZorb.
"We have made significant progress with RenaZorb and have received positive results from both in vitro and in vivo testing," continued Dr. Moerck. "There continues to be significant activity pertaining to RenaZorb within the pharmaceutical industry as we have signed several confidentiality agreements and are in discussion with four pharmaceutical companies. We believe RBC through its introductions and contacts within the industry will be able expedite a licensing agreement or the disposition of the product."
RBC CAPITAL MARKETS
RBC Capital Markets is the global brand for the corporate and investment banking businesses of RBC Dominion Securities, Canada's leading investment bank, and Dain Rauscher Wessels, the U.S. equity capital markets arm of RBC Dain Rauscher (member of NYSE and SIPC). The firm offers focused industry expertise and global reach in its chosen products, markets and industry sectors through five business divisions and 3,000 employees including some 80 analysts covering more than 900 companies. It is a member of Royal Bank of Canada. Royal Bank of Canada (TSX, NYSE: RY) uses the initials RBC as a prefix for its businesses and operating subsidiaries, which operate under the master brand name of RBC Financial Group. Royal Bank of Canada is Canada's largest financial institution as measured by market capitalization and assets, and is one of North America's leading diversified financial services companies. It provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. The company employs 60,000 people who serve more than 12 million personal, business and public sector clients through offices in North America and some 30 countries around the world. For more information, please visit www.rbc.com.
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" provisions of the Private Securities Litigation Reform Act 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, the possibilities that the company may be unable to attract additional customers, funded research opportunities, product development opportunities or ventures through its sales and branding campaign, that the company may never earn sufficient revenues to be profitable and that the company's nanoparticle products may not be integrated into any major market groups and products, in addition to other risks identified in the company's most recent Annual Report on Form 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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