Altair licenses kidney treatment
Altair Nanotechnogies Inc.
of Reno said last week it licensed its RenaZorb technology for the treatment of kidney disease to Spectrum Pharmaceuticals Inc.
Spectrum will pay Altair 100,000 shares of restricted Spectrum stock (the stock was trading at about $6 last week) and make an equity investment of $200,000 for 38,314 shares of Altair common stock.
Other financial details weren’t disclosed.
Publicly held Altair has said RenaZorb has the potential to treat high phosphorous levels in the blood of kidney patients.
As of April 7, Washoe County and the cities of Reno and Sparks received over 350 complaints about non-essential businesses remaining open. Compliance staff is investigating and giving initial courtesy notices — no citations have yet been given.