SALT LAKE CITY, Nov. 11, 2014 (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 entered into a multi-year original equipment manufacturer (OEM) agreement with Spinal Kinetics, a leading innovator of advanced spinal implant technologies.
Amedica will assist Spinal Kinetics with their proprietary design, development, manufacture and supply of silicon nitride spinal implants. The agreement underscores Amedica's continued focus to provide superior and innovative solutions to the market.
"We are very pleased to announce an additional element to this growing alliance with Spinal Kinetics," 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, and other similar agreements, 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.
"This agreement further expands our use of Amedica's silicon nitride technology platform and will now allow us to take this biomaterial directly to our customers and develop it according to their specifications," said Tom Afzal, President and CEO of Spinal Kinetics. "This novel biomaterial will provide Spinal Kinetics the opportunity to continue to provide unique spinal implants as we continue to expand our technology platform."
About Amedica Corporation
Amedica is a company focused on the development and application of medical-grade silicon nitride ceramics. Amedica markets spinal fusion products and is developing a new generation of orthopaedic bearings for hip and knee arthroplasty. Amedica operates an ISO 13485 certified manufacturing facility and its spine products are FDA cleared, CE marked, and currently marketed in the U.S. and select markets in Europe and South America.
For more information on Amedica or its silicon nitride material platform, please visit www.amedica.com.
About Spinal Kinetics
Founded in 2003, Spinal Kinetics is a privately held medical device company focused on developing innovative and practical solutions for treatment of diseases of the spine. The M6-C cervical and M6-L lumbar artificial discs have rapidly established themselves among the leading artificial discs available due to their unique biomechanical properties that replicate the motion of a natural disc. With over 32,000 implants to date, the M6 has become the disc of choice among leading spine surgeons around the world and is available in 27 countries. In the U.S., Spinal Kinetics is actively enrolling patients in its FDA IDE Pivotal Study of the M6-C. The company is located in Sunnyvale, California.
For more information on Spinal Kinetics or the M6 Artificial Disc, please visit www.spinalkinetics.com
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 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. Forward-looking statements include specifically, but are not limited to, Amedica's market opportunities, growth, future products, market acceptance of its products, sales and financial results and such statements are subject to risks and uncertainties such as the timing and success of new product introductions, 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 31, 2014, and in Amedica's other filings with the SEC. Amedica disclaims any obligation to update any forward-looking statements.