Amedica signed an exclusive distribution agreement with Shandong Weigao Orthopedic Device Company.
Here are five key notes:
1. Weigao Orthopedic will have exclusive sale, marketing and distribution rights for the Amedica brand silicon nitride spinal implants in the People's Republic of China.
2. Weigao will abide by the minimum purchase requirements during the first year of the agreement: 20,000 units. The company expects to purchase 50,000 units by the sixth year of the agreement, growing the number of units purchased annually in between.
3. The agreement will follow regulatory clearance from the China FDA. Weigo Orthopedic plans to leverage experience in acquiring the CFDA to accelerate Chinese clearance of the Amedica products.
4. The agreement increases Amedica's global sales footprint.
5. Weigao hopes to extend the partnership beyond spine products and into hip and knee applications. "Weigo Orthopedic is well-positioned to facilitate the approval and commercial launch of Amedica's silicon nitride spinal fusion devices in one of the world's largest healthcare markets," said CEO and Director of Weigao Orthopedic Mr. Gong Jianbo.
"We look forward to this strategic partnership to distribute our silicon nitride technology into Asian markets that are particularly receptive to bioceramic implants," said Amedica CEO Sonny Bal, MD.