Amedica Corporation (NASDAQ:AMDA), a company that develops and commercializes silicon nitride ceramics as a biomaterial platform, announced the execution of a private label supply agreement with BoTEC Medical, a subsidiary of WinnTi Medical Group and one of the fastest growing orthopedic companies in the People’s Republic of China focused on extremity and spine solutions. This agreement marks the establishment of a long-term collaborative partnership between the two companies.
Pursuant to the terms of the non-exclusive private label agreement, Amedica will supply BoTEC Medical with proprietary silicon nitride spinal interbody fusion devices for distribution and sale in their worldwide markets.
“This strategic alliance further validates the market adoption of our medical-grade silicon nitride technology platform internationally,” said Dr. Sonny Bal, Chairman and Chief Executive Officer. “Since launching our second generation silicon nitride interbody fusion devices in 2014, we have been pursuing a multi-channel approach to provide broader accessibility to our proprietary silicon nitride biomaterial. We are very pleased to partner with BoTEC Medical’s team and look forward to participating in their exciting future as they continue to capture additional market share within and outside one of the fastest growing medical device markets in the world.”
“We are very pleased to enter into this partnership with Amedica, as they have a unique biomaterial platform that will provide BoTEC Medical interbody solutions with a unique value proposition in a highly competitive market,” said Waldo Shan, Chief Executive Officer of BoTEC Medical. “We look forward to building upon our partnership to meet the ever-increasing surgeon demands while improving patient lives.”
Amedica’s spinal interbody fusion devices are made of a proprietary micro-composite silicon nitride biomaterial – a breakthrough ceramic containing the world’s first inherent nano-surface biotechnology. This unique biomaterial is also hydrophilic to attract both osteoblasts and physiologic proteins to ensure reliable osseointegration, and its surface biochemistry inhibits bacterial biofilm adhesion. This combination of optimal material properties is unique to Amedica’s silicon nitride material platform. (Original Source)
Shares of Amedica Corp. closed yesterday at $0.1014, down $0.00 or -0.98%. AMDA has a 1-year high of $1.12 and a 1-year low of $0.09. The stock’s 50-day moving average is $0.12 and its 200-day moving average is $0.36.
On the ratings front, Needham analyst Michael Matson reiterated a Buy rating on AMDA, with a price target of $1, in a report issued on November 13. The current price target represents a potential upside of 900.0% from where the stock is currently trading.
According to TipRanks.com, Matson has a total average return of 0.7%, a 56.3% success rate, and is ranked #1590 out of 3662 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.