Amedica Announces Regulatory Clearance to Market and Sell Valeo(R) Silicon Nitride Spinal Implants in Australia
Australian Marketing Clearance Provides Opportunities for Global Expansion
SALT LAKE CITY, UT -- (Marketwired) -- 04/24/17 -- Amedica Corporation (NASDAQ: AMDA), an innovative medical device company that develops and commercializes silicon nitride, is pleased to announce it has been granted marketing clearance for its Valeo interbody fusion devices in Australia.
The Valeo product line is made entirely of Amedica's proprietary medical grade silicon nitride ceramic -- an ideal material for fusion because of its nanostructured surface, osteoconductivity, osteoinductivity, anti-microbial properties, and ease of radiographic imaging.
"The Australian clearance is a tremendous opportunity for Amedica. Interestingly, during 1986-1988, Australian surgeons and engineers were the first to synthesize reaction-bonded silicon nitride, and implant the material in lumbar spine fusion patients. Favorable outcomes in terms of pain relief and successful fusion were reported at the 15-year follow-up time interval. Thus, the pioneering clinical use of silicon nitride in spine fusion originated in Australia, and we are excited to see the material return to its place of birth," said Dr. Sonny Bal, CEO. "The successful outcomes from Australia are now validated by 45 scientific papers published by Amedica in top-tier peer journals, and clinical data that will be published throughout this year. We look forward to working with Australian surgeons, and providing them with improved options for spinal fusion surgery."
About Amedica Corporation
Amedica is the only manufacturer of medical grade silicon nitride -- an innovative biomaterial technology ideal for use in spinal fusion and across a variety of medical applications. The Company's products are manufactured in its ISO 13485 certified manufacturing facility located in Salt Lake City, Utah. 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.
For more information on Amedica or its silicon nitride material platform, please visit www.amedica.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, but are not limited to, the Company's opportunities for global expansion, and the Company's future commercialization plans. Such statements are subject to risks and uncertainties such as whether the FDA approves the Company's submission, the timing of such approval and the Company's success in commercializing its products. 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 23, 2016, and in Amedica's other filings with the SEC. Amedica disclaims any obligation to update any forward-looking statements.
Source: Amedica Corporation
Released April 24, 2017