SALT
LAKE CITY, July 23, 2015 (GLOBE NEWSWIRE) -- Amedica Corporation (Nasdaq:AMDA), a biomaterial company that
has developed silicon nitride ceramics as a material platform to manufacture
and commercialize orthopedic implants, is pleased to announce that it has
signed an original equipment manufacturer (OEM) letter of intent supply agreement
with a leading orthopedic device design and manufacturing company.
Under the proposed agreement, Amedica will assist this company
with their proprietary design, development, manufacture and supply of silicon
nitride spinal implants. The two companies will begin negotiating the
definitive agreement once it is satisfied that all necessary and appropriate
regulatory approvals can be obtained without significant expense. The agreement
underscores Amedica’s continued focus to provide superior and innovative
solutions to the market.
“We are very pleased to
announce an additional partner to this growing lineup of OEM partnerships,”
said Dr. Sonny Bal, chairman and CEO of Amedica Corporation. “We remain
committed to offering our customers a biomaterial that contains distinct
benefits to improve the efficacy of spinal fusion procedures, resulting in
enhanced patient care. I am convinced that this, as well as the three
additional private label and OEM agreements we’re anticipating to complete this
year, will lead to faster and more widespread market penetration of silicon
nitride, positioning it as the biomaterial of choice for
medical applications.”
Silicon nitride is a
unique biomaterial that can be shaped and engineered into complex designs and
surfaces to address a variety of medical needs. Unlike other leading
biomaterials in the market today, silicon nitride contains anti-bacterial
properties and also supports rapid bone on-growth and in-growth. This
combination of optimal material properties is unique to Amedica’s silicon
nitride material platform.
About Amedica
Corporation
Amedica is focused on
the development and application of medical-grade silicon nitride ceramics.
Amedica markets spinal fusion products and is developing a new generation of
wear- and corrosion-resistant implant components for hip and knee arthroplasty.
The Company manufactures its products in its ISO 13485 certified manufacturing
facility and, through its partnership with Kyocera, the world's largest ceramic
manufacturer. Amedica's spine products are FDA-cleared, CE-marked, and are
currently marketed in the U.S. and select markets in Europe and South America
through its distributor network and its growing OEM partnerships.
For more
information on Amedica or its
silicon nitride material platform, please visit www.amedica.com.
Forward-Looking
Statements
This press release
contains statements that constitute forward-looking statements within the
meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934,
as amended by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements contained in this press release include the
Company’s expectation that it will enter into three additional private label
and OEM agreements this year and that this will lead to faster and more
widespread market penetration of silicon nitride, the intent, belief or current
expectations of Amedica and members of its management team with respect to
Amedica's future business operations as well as the assumptions upon which such
statements are based. Such forward-looking statements are subject to risks and
uncertainties such as whether the Company will be able to agree on the terms of
a definitive OEM supply agreement, whether the potential new OEM partner will
be able to obtain all necessary and appropriate regulatory approvals from the
applicable regulatory authorities without significant expense, the timing and
success of new product introductions, FDA review and clearance, physician
acceptance, endorsement, and use of Amedica's products, regulatory matters,
competitor activities, changes in and adoption of reimbursement rates,
potential product recalls, effects of global economic conditions and changes in
foreign currency exchange rates. Additional factors that could cause actual
results to differ materially from those contemplated within this press release
can also be found in Amedica's Risk Factors disclosure in its Annual Report on
Form 10-K, filed with the Securities and Exchange Commission (SEC) on March 24,
2015, and in Amedica's other filings with the SEC. Amedica disclaims any
obligation to update any forward-looking statements.
Contact:
Mike Houston
VP, Commercialization
& Communications
801-839-3534
mhouston@amedica.com
No comments:
Post a Comment