SINTX Technologies Ends Patent License Agreement With O2TODAY
SINTX Technologies, Inc. (NASDAQ: SINT) announced the termination of its Patent License Agreement with O2TODAY due to delays in product development.
This follows SINTX's previous evaluation of joint efforts with O2TODAY, emphasizing its commitment to developing antiviral and antimicrobial fabrics using SINTX's patented FleX SN-AP silicon nitride powder. SINTX continues to pursue collaborations and product development in the antipathogenic fabric space, vital to its business strategy.
- SINTX is committed to developing antiviral and antimicrobial fabrics using FleX SN-AP silicon nitride powder.
- The FleX SN-AP product shows rapid antipathogenic activity against various bacteria and viruses, including SARS-CoV-2.
- Termination of the Patent License Agreement may hinder potential revenue streams.
- Delays in product development with O2TODAY raise concerns about SINTX's collaborative efforts.
SALT LAKE CITY, Nov. 05, 2021 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (www.sintx.com) (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer of advanced ceramics for medical and non-medical applications, announced today that it has ended its Patent License Agreement with O2TODAY following O2TODAY’s delay in bringing a product to market.
SINTX previously announced this past August that it was re-evaluating its joint development efforts with O2TODAY due to delays in development. Nevertheless, SINTX will look to identify new ways to collaborate with O2TODAY to develop antiviral, antimicrobial fabrics containing SINTX FleX SN-AP silicon nitride powder while exploring other possible partnerships.
The development of antipathogenic mask and fabric technology using FleX SN-AP continues to be important to SINTX as it is part of its broader business strategy to develop fabric applications. FleX SN-AP has shown rapid antipathogenic activity against a broad spectrum of bacteria and viruses including SARS-CoV-2. The Company will continue to work with OEM partners to develop products utilizing its FleX products for masks as well as other products.
About SINTX Technologies, Inc.
SINTX Technologies is an OEM ceramics company that develops and commercializes advanced ceramics for medical and non-medical applications. The core strength of SINTX Technologies is the manufacturing, research, and development of ceramics for external partners. The Company presently manufactures silicon nitride powders and components in its FDA registered, ISO 13485:2016 certified, and ASD9100D certified manufacturing facility.
For more information on SINTX Technologies or its advanced ceramics 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: the Company and its partners may not be successful in the application of silicon nitride powder into fabrics and the subsequent development of products from those fabrics in a manner that will prove be to be safe and effective for their intended uses and functions; regulatory clearance to use products in which silicon nitride has been applied to enhance antipathogenic properties may be lengthy and expensive; 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 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 22, 2021, 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
Director of PR and Content
The Summit Group
abarry@summitslc.com
FAQ
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