SINTX Technologies Looks Ahead to 2021 Opportunities and Beyond
SALT LAKE CITY, Jan. 06, 2021 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (www.sintx.com) (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer of silicon nitride ceramic for medical and non-medical applications, will celebrate its 25th year in existence in 2021. The Company has a successful track record of more than 35,000 spinal implantations and established leadership in the manufacturing and science of silicon nitride. The Company disclosed its three key areas of focus for 2021, which includes antipathogenic applications, industrial applications, and biomedical opportunities for its silicon nitride and its proprietary formulations.
The COVID-19 pandemic increased global awareness of the need for antipathogenic masks, medical gowns, IT devices, air filters, and much more. The global reusable mask market is expected to reach $7.08 billion by 2027 according to a new report by Grand View Research, Inc. Beyond containing viruses and bacteria, the health effects of particulate pollution, dust, and smoke, and respiratory diseases will continue to drive the market for protective face masks. During 2020, SINTX developed and tested antiviral materials, and plans with O2TODAY to release its first consumer mask in 2021. The device is designed to capture and inactivate bacteria and viruses and is undergoing rigorous safety, efficacy, wearability, and washability testing. The R&D that went into developing silicon nitride embedded fabrics applies to other products as well, such as antimicrobial surfaces, and protective medical equipment.
“We feel lucky to work with a company who is dedicated to putting the most effective and safe mask possible into the consumer market,” said Bruce Lorange, CEO of O2TODAY (www.o2today.com). “The rigorous testing that we are performing together is a testament to SINTX’s dedication to consumer well-being and truly reducing the spread of viral diseases like coronavirus and other viruses. The antipathogenic possibilities of silicon nitride are endless, and we’re excited to be the first to incorporate it into consumer masks.”
SINTX views the industrial market for silicon nitride as a tremendous growth driver, given that the market size is anticipated to reach nearly $174 billion in 2025, according to a report by Allied Market Research. SINTX has built a foundation of the highest quality silicon nitride, with an AS9100D certification and International Traffic in Arms Regulations (ITAR) registration, and market research for success in the year ahead. In 2020, the Company shipped its first silicon nitride to industrial customers, outside of biomedical applications.
In the third growth area of focus on biomedical implants, SINTX plans to expand its business in 2021 by leveraging its proprietary formulations of silicon nitride composites and coatings. The Company expects to launch its unique Silicon Nitride-PEEKcomposite that is targeted at several orthopedic implant markets. Silicon nitride coated titanium is another favorable outcome of SINTX’s sustained R&D effort; this biomaterial platform has a broad range of applications, from spine surgery to joint replacements. With its experience in manufacturing spinal implants made of silicon nitride and previous FDA approvals, SINTX sees ongoing attractive opportunities in the biomedical market.
“We made meaningful progress in our R&D, made significant investments in new personnel and equipment, and identified new customers and opportunities during 2020, as we moved beyond manufacturing spinal implants,” said Dr. Sonny Bal, President, and CEO, SINTX Technologies. “The Company will apply its knowledge and technology toward generating revenue in 2021.”
SINTX looks forward to 2021, and the new developments, customers, and partnerships it anticipates announcing.
About SINTX Technologies, Inc.
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 powders and components in its FDA registered, ISO 9001:2015 certified, ISO 13485:2016 certified, and AS9100D certified manufacturing facility.
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. Risks and uncertainties that may cause such differences include, among other things: incorporation of silicon nitride into personal protective equipment may not be safe or effective; volatility in the price of SINTX’s common stock; the uncertainties inherent in new product development, including the cost and time required to commercialize such product(s); market acceptance of our products once commercialized; SINTX’s ability to raise additional funding and other competitive developments. 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. 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 26, 2020, 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.
Business Inquiries for SINTX:
SINTX Technologies
801.839.3502
IR@sintx.com
Media Inquiries for SINTX:
Amanda Barry
Associate Director, Content and PR
The Summit Group
abarry@summitslc.com
Released January 6, 2021