altair_8k-082908.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
____________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (date of earliest event reported): August 28,
2008
Altair Nanotechnologies Inc.
(Exact
Name of Registrant as Specified in its Charter)
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Canada
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1-12497
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33-1084375
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(State
or other jurisdiction of
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(Commission
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(IRS
Employer
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incorporation
or organization)
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File
Number)
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Identification
No.)
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204
Edison Way
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Reno, NV
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89502
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant's
Telephone Number, Including Area Code:
(Former
name, former address, and formal fiscal year, if changed since last
report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2.
below):
[_] Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[_] Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)
Item
1.02 Termination of a Material Definitive Agreement
On August
28, 2008, Altairnano, Inc. (the “Company”), a second-tier wholly owned
subsidiary of Altair Nanotechnologies Inc., and Elanco Animal Health, a division
of Eli Lilly and Company (“Elanco”), terminated the Development Services
Agreement entered into by them in September 2007 (the “Agreement”) and related
license agreements. Pursuant to the Agreement, the Company agreed to
work with Elanco to develop a manufacturing process related to a test-stage
active pharmaceutical ingredient (the “API”), which process was primarily funded
by Elanco. Pursuant to related agreement, which has also
been terminated, the Company had granted Elanco the exclusive right to develop
and market the API. Through July 15, 2008, the Company had billed
$1,427,304 under the Agreement.
The API
and the Company’s manufacturing process for the API are in an early stage of
development. As previously announced, test results related to the
effectiveness of the API and the Company’s manufacturing process have been
positive. Nevertheless, Elanco notified the Company that its funding
for projects like the development of the API had been substantially curtailed
and that it was going to cease funding the development process under the
Agreement. The Company and Elanco considered possible alternative
relationships and ventures related to the API but could not come to mutual
agreement and, accordingly, terminated the relationship upon amicable
terms.
SIGNATURES
Pursuant to the requirements of the
Securities Exchange of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
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Altair
Nanotechnologies Inc. |
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Dated:
August 29, 2008
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By:
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/s/ John
Fallini |
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John
Fallini, Chief Financial Officer |
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