Full Press Release Details
Technologies Acquires SiNAPTIC Surgical Assets and IP to Expand into $1.3B Foot and Ankle Fusion Market
Acquisition Brings Patented Implant Designs, Seasoned Executive Team, and Near-Term Commercial Opportunities
LAKE CITY, Utah - June 24, 2025 - SINTX Technologies, Inc. (NASDAQ: SINT) ("SINTX" or the "Company"),
an advanced ceramics company focused on medical device innovation, today announced that it has executed a Definitive Agreement to acquire
the surgical business assets of SiNAPTIC Holdings, LLC, a privately held company focused on silicon nitride ceramic manufacturing and
innovation. This transaction is a significant milestone in SINTX's strategy to acquire a potential competitor and drive commercial
revenue growth and expand its product portfolio in the foot and ankle fusion market.
the terms of the agreement, SINTX has acquired all intellectual property, product designs, and development assets related to six (6)
differentiated foot and ankle implant systems. These designs are backed by clinical development and mechanical testing and a 510(k) pre-submission
that is expected to accelerate near-term commercial launch activities. The global ankle fusion market, currently valued at approximately
$750.5 million, is expected to grow to $1.38 billion by 2032, representing a CAGR of 9.1%, according to industry research.
acquisition is transformative for SINTX by adding a family of FDA-reviewed implants, portfolio of new technologies, and capital, accelerating
our shift from R&D to revenue generation and commercial scale," said Eric Olson, CEO of SINTX Technologies. "Additionally,
the SiNAPTIC team brings deep expertise in product development, regulatory strategy, and commercialization to support our existing commercial
product portfolio-key elements in driving increased value for our shareholders."
part of the transaction, key members of the SiNAPTIC Surgical executive team and board of directors will join SINTX in the following
| Chairman of SINTX Clinical Advisory Board, Bryan Scheer, M.D. | ||
| Managing Director of Business Development, Hugh Roberts | ||
| Chief Commercial Officer, Lisa Marie Del Re, MPE, ATC, NASM-PES | ||
| Senior Vice President of Regulatory and Quality Affairs, Brian Hockett | ||
| Senior Design Engineer, Basil Tharu, M.S. |
consideration for the acquired assets, SINTX issued $750,000 in common shares , priced at $3.465 per share which represents a 10% premium
to the closing price of the Company's common stock on Friday, June 20, 2025, along with 325,000 performance-based common stock
purchase warrants. The common shares are subject to a six-month lock-up agreement and the Company has committed to file a resale registration
statement with the Securities and Exchange Commission registering the resale of the common shares and the common shares issuable on exercise
of the common stock purchase warrants. These warrants are exercisable over five years at a strike price of $6.30, and vest upon achieving
specific regulatory and commercial milestones, including FDA clearance and revenue targets.
will manufacture all devices under its FDA-registered and ISO-certified quality system and leverage existing FDA clearances and Master
Files to streamline regulatory approvals.
addition, Dr. Bryan Scheer, Chairman and CEO of SiNAPTIC, will lead a newly formed Clinical Advisory Board to guide ongoing product development
and surgeon engagement.
acquisition reflects our shared belief in the transformative potential of silicon nitride ceramic-enhanced implants and the strength
of our combined teams," said Dr. Scheer. "Together, we can accelerate the development of disruptive products and deliver
meaningful clinical value."
more information, visit www.sintx.com.
SINTX Technologies, Inc.
in Salt Lake City, Utah, SINTX Technologies is an advanced ceramics company that develops and commercializes materials, components, and
technologies for medical and agribiotech applications. SINTX is a global leader in the research, development, and manufacturing of silicon
nitride, and its products have been implanted in humans since 2008. Over the past several years, SINTX has utilized strategic acquisitions
and alliances to enter new markets. For more information on SINTX Technologies or its materials platform, visit www.sintx.com.
industry to medical, SiNAPTIC is dedicated to the development and on-demand manufacturing of additive manufactured technical ceramics
to improve lives and inspire the world to see in new ways. With a focus on innovation and quality, we offer a wide range of ceramic materials,
allowing us to accelerate various applications across multiple industries such as aerospace & defense, medical, semiconductors, transportation,
electronics, industrial manufacturing, and more. SiNAPTIC is based outside of Denver, Colorado. We transform ideas into real possibilities
with our additive manufacturing platforms. Contact us to learn more about our services and how our technologies are driving the industry
forward. For additional information, please visit www.sinaptic.com
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. Forward-looking statements can be identified by words such as: "anticipate,"
"believe," "project," "estimate," "expect," "strategy," "future,"
"likely," "may," "should," "will" and similar references to future periods.
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. Forward looking statements include our belief that
the acquisition will successfully shift our focus from R&D to revenue generation and commercial scale and result in increased value
for our shareholders and accelerate the development of disruptive products and deliver meaningful clinical value. Because forward-looking
statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to
predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated
in the forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially
from those indicated in the forward-looking statements include, among others, difficulty in commercializing ceramic technologies and
development of new product opportunities. A discussion of other risks and uncertainties that could cause our actual results and financial
condition to differ materially from those indicated in the forward-looking statements can be found in SINTX's Risk Factors disclosure
in its Annual Report on Form 10-K, filed with the SEC on March 19, 2025, and in SINTX's other filings with the SEC. 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, except as required by law.
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