SINTX Technologies Reassesses Exclusive Patent License with O2TODAY

Rhea-AI Summary

SINTX Technologies (NASDAQ: SINT) has announced a reassessment of its exclusive Patent License Agreement with O2TODAY after O2TODAY revealed regulatory hurdles delaying the launch of its SiNPRO filters and masks. O2TODAY is refunding pre-orders due to these issues. SINTX is now considering a return to initial joint development efforts with O2TODAY as it seeks alternative routes to market its antipathogenic facemask technology. This is part of SINTX's broader strategy to develop various medical applications using silicon nitride.

Positive

• Potential return to joint development efforts with O2TODAY.
• Broader strategy includes development of multiple medical applications.

Negative

• Delay in launch of SiNPRO filters and masks due to regulatory requirements.
• Refunds issued for pre-orders may impact cash flow.

SALT LAKE CITY, Aug. 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 is reassessing the exclusive Patent License Agreement with O2TODAY in light of O2TODAY’s decision to delay launch of its SiNPRO filters and masks.

On Thursday, O2TODAY shared that it has been made aware of regulatory requirements that prevent the distribution of its antiviral masks and filters and is refunding pre-orders. Given this new information, SINTX is considering a return to its initial joint development efforts with O2TODAY and revaluating all avenues of how it will bring the antipathogenic facemask technology to market.

The development and manufacture of antiviral face masks incorporated with SINTX silicon nitride is one component of SINTX’s broader business strategy of developing several antipathogenic fabric applications, including surgical gowns, drapes, scrub suits, and related products for medical personnel.

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 advanced ceramics 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

What is the current status of SINTX Technologies' partnership with O2TODAY?

SINTX is reassessing its exclusive Patent License Agreement with O2TODAY due to delays in O2TODAY's product launch.

Why has O2TODAY delayed the launch of its SiNPRO filters and masks?

O2TODAY cited regulatory requirements that prevent the distribution of its antiviral masks and filters.

How does SINTX plan to bring its antipathogenic facemask technology to market?

SINTX is considering returning to joint development efforts with O2TODAY and exploring other avenues for commercialization.

What are SINTX Technologies' future business strategies?

SINTX aims to develop various medical applications, including surgical gowns and scrubs, using its advanced silicon nitride technology.