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nanotimes


Companies Facts


Under a separate conditional supply and technology license agreement, Altair has agreed to sell to Canon affiliate Zhuhai Yintong Energy Co., Ltd. (YTE) an ALTI-ESS 1 Megawatt system, battery cells, and its proprietary lithium-titanate material to be used in the production of battery cells in China. The agreement provides up to $6.6 million in revenue to Altair by the end of 2011 including an advance of $2.0 million for lithium-titanate at the time of signing; Altair is committed to ship 20 metric tons of this material prior to year-end. Purchases of $4.6 million under the supply agreement are conditional upon closing of the transaction. YTE has the option to require re- payment of any portion of the $2.0 million advance not offset by shipped orders if the share subscripti- on agreement is terminated by Altair under certain conditions.


Furthermore, Altair Nanotechnologies, Inc. released its Application Kit designed to give original equip- ment manufacturers (OEMs) the ability to apply its advanced lithium-titanate battery systems in a test environment simulating real-world operating condi- tions. The Application Kit includes Altairnano‘s 24 volt, 50 ampere-hour battery module, a connection and control unit (CCU) including a battery manage- ment system, and a NetBook computer configured to control and monitor the system performance. The system is scalable to test battery modules in different voltage and amperage configurations. http://www.altairnano.com


program for the treatment of irritable bowel syn- drome (IBS) for advanced preclinical testing, with the goal of submitting an Investigational New Drug


A


MRI (NASDAQ: AMRI) announced the selection of a compound from its proprietary research


Application (IND) with the U.S. Food and Drug Ad- ministration (FDA) in 2011. AMRI’s drug candidate is a 5-HT3 receptor partial agonist shown to mode- rate but not completely block the function of 5-HT3 receptors, an approach that could be particularly be- neficial in treatment of the non-constipation forms of IBS. This approach is differentiated from the existing class of 5-HT3 receptor antagonists that completely block receptor function. http://www.amriglobal.com


owned subsidiary Calando Pharmaceuticals through the exchange of Calando Series A Preferred Stock for Arrowhead warrants. This exchange follows recent milestones achieved by Calando, including several notable first accomplishments in RNAi technology. These include proof of the first definitive systemic siRNA delivery and first to show RNAi mediated knockdown of target mRNA and protein in humans. Pursuant to the exchange agreement between Arrowhead and the Calando Series A holders, Ar- rowhead exchanged a warrant to purchase appro- ximately 3.9 million shares of Arrowhead stock for Calando Series A Preferred Stock with a liquidation preference of approximately $3.9 million. The Ca- lando preferred stock is convertible into 2.7 million shares of Calando common stock at the discretion of the holder. The warrants have an exercise price of $0.50 per share and are exercisable beginning March 17, 2011, with an expiration date of September 16, 2015. Arrowhead Research’s President and Chief Executive Officer issued further an open letter to the Company’s shareholders. http://www.arrowheadresearch.com http://www.businesswire.com/news/home/20100929005673/en


A


rrowhead Research Corporation (NASDAQ: ARWR) has increased its ownership of majority


10-09 :: September 2010


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