Amedica Corporation (NASDAQ:AMDA), a company that develops and commercializes silicon nitride ceramics as a biomaterial platform, is pleased to announce that it has entered into a joint development agreement with Worthington dental technology to provide access to the Company’s silicon nitride technology platform to develop, prototype and manufacture the patented Worthington dental implant system.
Pursuant to the terms of the agreement, Amedica will assist Worthington in the development and commercialization of the Worthington dental implant system and devices. Additionally, Amedica has engaged Worthington as a dental expert to support Amedica in its efforts to expand the use of silicon nitride to additional original equipment manufacturer dental partners.
“The agreement underscores Amedica’s continued focus to provide superior and innovative solutions to the market,” said Dr. Sonny Bal, chairman and CEO of Amedica Corporation. “This newest alliance validates the advantages of our proprietary silicon nitride material across a variety of biomedical applications. We look forward to leveraging Worthington’s unique intellectual property to develop and commercialize dental devices that may incorporate the benefits of silicon nitride. We remain committed to offering our customers a biomaterial platform that contains distinct anti-infective and osteopromotive properties to improve the efficacy of clinical outcomes, resulting in enhanced patient care.”
Amedica’s micro-composite silicon nitride biomaterial is a breakthrough ceramic containing potential anti-bacterial and favorable bone growth properties. Its surface texture and hydrophilic nature attract both osteoblasts and physiologic proteins to ensure reliable osteointegration, while its surface biochemistry inhibits bacterial biofilm adhesion. This combination of optimal material properties is unique to Amedica’s silicon nitride material platform.
“We’re excited for the prospect to develop and commercialize this uniquely differentiated biomaterial for our partners and customers,” said Dr. William B. Worthington, inventor of Worthington dental technology. “We believe this novel biomaterial will not only improve patient outcomes, but also provides us with additional innovative device opportunities as we seek to commercialize our dental technology portfolio.” (Original Source)
Shares of Amedica Corp. closed last Friday at $0.30. AMDA has a 1-year high of $3.43 and a 1-year low of $0.20. The stock’s 50-day moving average is $0.40 and its 200-day moving average is $0.41.
On the ratings front, Needham analyst Michael Matson maintained a Buy rating on AMDA, with a price target of $1, in a report issued on August 14. The current price target implies an upside of 233.3% from current levels. According to TipRanks.com, Matson has a total average return of 0.1%, a 53.4% success rate, and is ranked #2395 out of 3775 analysts.
Amedica Corporation is a commercial-stage biomaterial company. It is engaged in using its silicon nitride technology platform to develop, manufacture & commercialize medical devices. Its products include valeo interbody fusion devices & facet fixation.