A saw blade (4) for a machine operating with adjacent saw teeth traveling in two opposite and parallel directions comprises a blade substrate, teeth (16), and tooth necks (30) formed at the periphery of the substrate for holding the teeth (16) in place. Each tooth neck (30) has a protection surface (34), which is located in a plane that is parallel to the plane of the blade substrate (8), for protecting the tooth (16) against impact with any part of said adjacent saw blade. Each tooth (16) is located on the respective neck (30) in such a way that the tooth (16) is displaced from the protection surface (34) and from the adjacent saw blade in a direction normal to the plane of the protection surface (34).