June 4, 2003 — Altair Nanotechnologies Inc. said in a news release Tuesday that it had received positive results from animal tests on a potential drug for removing phosphate ions in kidney dialysis patients.

Altair, which completed the study in early March but did not disclose results because of a confidentiality agreement with a pharmaceutical firm, said RenaZorb lowers urinary phosphate in kidney-impaired rats and healthy dogs. The nanoparticle-based ceramic material treats elevated phosphate levels in patients with end-stage renal disease, relieving a condition that can cause bone pain and spontaneous fractures, the release said.

The Reno, Nev.-based company said it’s talking to pharmaceutical firms about licensing RenaZorb, and the results provide a more extensive set of in vivo data. The information also allows Altair to enhance the efficacy and potency of the potential drug, it said.

Altair, listed on Nasdaq, traded between 1.01 and 1.23 Wednesday morning. It closed Tuesday at 1.18.