SINTX Technologies, Inc. (NASDAQ: SINT) today provided a business
update. The update provides a broad overview of SINTX Technologies,
Inc. (“the Company”), its technologies, and the commercial
opportunities ahead.
Overview-
“SINTX leads in advanced silicon nitride
ceramics and related technologies,” said Dr. Sonny Bal, President
and CEO of SINTX. “The Company has over 134 original, peer-reviewed
scientific publications, conference proceedings, or patent
publications; and 87 technical and scientific presentations at
professional conferences, a remarkable achievement for any company.
These activities have validated the advantages of silicon nitride,
and expanded the opportunity beyond spinal implants.”
Medical Devices-
Since the sale of the spinal implant business to
CTL Amedica in October 2018, the Company has had increasing orders
for replenishments for existing banks as well as for new implant
banks. The Company is collaborating with CTL Amedica’s Product
Development team to design and launch new spinal implants. The
Company also provides sales support, surgeon education, and
regulatory assistance, in anticipation of new product launches, and
sales in new territories such as Australia.
Spinal implant technology is supported by
several clinical reports, including the SNAP lumbar study, and a
large-scale multi-center review of clinical data pertaining to
silicon nitride. All findings to date confirm earlier basic science
research, and are being published in peer journals. Clinical data
will also support CTL’s application for sales of silicon nitride
spinal devices in Japan later this year.
The opportunity in silicon nitride dental
implants is especially relevant, with enhanced bone growth, and the
resistance of silicon nitride to oral bacteria. The Company is
developing ceramic implants in projects funded by global dental
companies, and, expects to announce a partnership with one or more
such parties by year-end.
In hip and knee arthroplasty, recent work has
confirmed the corrosion resistance of silicon nitride femoral heads
developed by the Company. The ability to apply silicon nitride onto
complex orthopaedic metal geometries, with enhanced bone formation
and microbial resistance, is a key differentiator. The development
of PMMA-silicon nitride composites for the infected arthroplasty
market is another opportunity, and the Company is working with
external partners toward regulatory approval.
Non-Medical Uses-
The Company hired Don Bray, a seasoned industry
executive, as Vice President of Business Development, to identify
new opportunities outside the medical space. The Company produces
one of the toughest silicon nitride formulations known, with new
variations under development to address high temperature and high
pressure applications. From commodity items such as industrial
fasteners, bushings, and valves to addressing more complex demands
of hypersonic missile radomes, aerospace, air-conditioning systems,
beverage dispensers, touch-screen glass, and agribusiness
fungicides, the Company has the expertise and skill to address a
diversity of opportunities.
Research & Development-
Recent R&D achievements include
laser-sintering of silicon nitride onto metals, glass, oxide
ceramics, and polymers, as well as ceramic-polymer, ceramic-metal,
and PMMA-polymer composites. These innovations allow the advantages
of silicon nitride across different material platforms. Others have
taken notice; independent work from China and a European
academic-industry consortium have corroborated our findings.
The Company is committed to a robust R&D
program, and continues its relationship with Piezotech of Japan,
under the guidance of consulting scientist Professor Pezzotti.
Because of its R&D, the Company was the first to 3-D print
medical grade silicon nitride; the first to show anti-pathogenic
properties and demonstrate the underlying mechanisms; the first to
develop silicon nitride-polymer composites; the first to laser-bond
silicon nitride to metal; and the first to braze titanium alloys to
silicon nitride. The expansion of commercial opportunities is a
direct result of these advancements.
Finances-
SINTX has steadily decreased its cash burn rate
and has cash on hand with no debt. Commercial operations are not
generating break-even or profitable cash flow as yet. Additional
financing and/or a strategic investment will be necessary.
The Company is in strategic discussions targeted
at enhancing shareholder value, and expanding its technology
platform for the opportunities ahead. The Company expects to retain
specific investment banking expertise to identify strategic options
that maximize value for its shareholders.
Future Outlook
SINTX Technologies is the world leader in the
development of silicon nitride ceramics, with an unmatched
portfolio of scientific output and technological innovations. These
have opened a wide range of commercial opportunities, and interest
from outside partners. The Company is highly visible at industry
meetings, forums, and peer venues. With a differentiated technology
platform, the Company expects multiple revenue sources in the
future. “Given the breadth of opportunities, we are very optimistic
going forward,” said Dr. Bal.
About SINTX Technologies
SINTX Technologies is an OEM ceramics company
that develops and commercializes silicon nitride for medical and
non-medical applications. The core strength of SINTX Technologies
is the manufacturing, research, and development of silicon nitride
ceramics for external partners. The Company presently manufactures
silicon nitride spinal implants in its ISO 13485 certified
manufacturing facility for CTL-Amedica, the exclusive retail
channel for silicon nitride spinal implants.
For more information on SINTX
Technologies or its silicon nitride material platform, please
visit www.sintx.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (“PSLRA”) that are subject to a number of risks
and uncertainties. Readers are cautioned not to place undue
reliance on the forward-looking statements, which speak only as of
the date on which they are made and reflect management’s current
estimates, projections, expectations and beliefs. Such forward
looking statements include: development of new products with CTL
Amedica, filing an application to sale products in Japan later this
year, announcing a dental partnership with one or more parties by
year-end, and the company’s need for additional financing. There
can be no assurance that any of the anticipated results will occur
on a timely basis or at all due to certain risks and uncertainties,
a discussion of which can be found in SINTX's Risk Factors
disclosure in its Annual Report on Form 10-K, filed with the
Securities and Exchange Commission (SEC) on March 11, 2019, and in
SINTX's other filings with the SEC. SINTX disclaims any obligation
to update any forward-looking statements. SINTX undertakes no
obligation to publicly revise or update the forward-looking
statements to reflect events or circumstances that arise after the
date of this report. Contact:SINTX Technologies 801.839.3502
IR@sintx.com
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