Amedica Provides Business Update
October 06 2016 - 9:21AM
Marketwired
Amedica Provides Business Update
SALT LAKE CITY, UT-(Marketwired - Oct 6, 2016) - Amedica
Corporation (NASDAQ: AMDA), a biomaterial company that develops and
commercializes silicon nitride for biomedical applications, today
provided a business update related to its business strategy and
certain recent developments.
Briefly, the updates relate to the following items:
- New patent directed to a threaded design in ceramic
implants;
- Participation at the annual International Society for
Technology in Arthroplasty; and
- Update related to completion of the company's strategic
workforce reduction.
Amedica Awarded Key Patent Protection for Threaded Implant
Design Feature Amedica was recently awarded a patent by the United
States Patent and Trademark Office for "threading sinterable
materials," such as silicon nitride and other ceramic materials.
U.S. Patent No. 9,399,309, covers methods for threading ceramic
materials used for spinal fusion implants, or other biomedical
implants. Threading technology is broadly applicable in a wide
range of current medical devices made from PEEK or titanium, and
this patent is the first for ceramic materials. Amedica's ability
to manufacture threaded biomedical implants made of silicon nitride
and other ceramic materials reflects nearly five years of
pioneering work by its R&D and engineering teams.
Amedica has implemented this new technology across its portfolio
of Valeo II spinal fusion devices. These fusion devices are made of
micro-composite silicon nitride, which favors bone ingrowth and
shows antibacterial properties, when compared to competitive PEEK
and titanium implants. Valeo II silicon nitride interbody fusion
devices are readily imaged on x-rays, CT, and MRI scans; a property
unique to Amedica's silicon nitride technology.
Amedica to Present Research Supporting Silicon Nitride at ISTA
Amedica announced that it will be presenting four papers at the
International Society for Technology in Arthroplasty's (ISTA) 29th
Annual Congress occurring October 5-8, 2016 in Boston,
Massachusetts. "These papers provide further evidence for the
advantages of our proprietary silicon nitride composition in the
spine, dental, and arthroplasty markets," said Dr. Sonny Bal,
Chairman and CEO of Amedica Corporation. "Our strength in
manufacturing, research, and external collaborations is critical to
creating long-term value, even as we reduce costs and address spine
sales," added Dr. Bal
Going Forward Following Strategic Reductions in Workforce The
company also confirmed that the previously-announced work force
reduction has been completed, resulting in a leaner and more agile
organization that is better positioned to extend its cash runway
and execute on its strategic objectives.
Dr. B. Sonny Bal, chairman and chief executive officer of
Amedica, stated, "despite the recent 38% reduction in force, the
company continues to be in a strong position to timely and
efficiently manufacture its silicon nitride products, further
scientific research into the properties of our silicon nitride
ceramic and how to enhance those properties, and to continue to
support its external partnerships and product development
opportunities."
About Amedica Corporation
Amedica is focused on the development and application of
interbody implants manufactured with medical-grade silicon nitride
ceramic. Amedica markets spinal fusion products and is developing a
new generation of wear- and corrosion-resistant implant components
for hip and knee arthroplasty as well as dental applications. The
Company's products are manufactured in its ISO 13485 certified
manufacturing facility and through its partnership with Kyocera,
one of the world's largest ceramic manufacturers. Amedica's
FDA-cleared and CE-marked spine products are currently marketed in
the U.S. and select markets in Europe and South America through its
distributor network and its growing OEM and private label
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. Such statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those contemplated within this
press release. A discussion of those risks and uncertainties can 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 23, 2016, and in Amedica's other filings with the SEC.
Amedica disclaims any obligation to update any forward-looking
statements.
Contact Information
Contacts: Kevin Ontiveros 801-839-3502 IR@amedica.com
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