OTS - Syntellix Asia and Chunli agree far-reaching co-operation to introduce and market innovative "quantum leap in implantology" MAGNEZIX® medtech devices in China (part 1)
2019. September 02. 09:22
Singapore/Beijing, 2 September, 2019. (APA/OTS) - Milestone
contract signed between leading Chinese orthopaedic medtech
supplier and Singapore based Asian subsidiary and hub of German
world-market and technology leader in the area of bioabsorbable
metallic implants for use in orthopaedic and trauma surgery -
Contract volume of more than 100 million euros - Significant
patient benefit for millions of people targeted in China's vast
medical technology market with world's biggest population of 1.5
billion people - According to international experts, MAGNEZIX®
implants developed by Syntellix are "clinically superior", a
"quantum leap in implantology" and the "new gold standard" - German
Innovation Award has recently confirmed Syntellix' technology
leadership and user orientation
Today, a far-reaching co-operation contract was signed between
Syntellix Asia Pte. Ltd., the Singapore based Asian subsidiary and
hub of highly innovative German biomedical technology pioneer
Syntellix AG from Hannover and China's leading orthopaedic implant
supplier Beijing Chunlizhengda Medical Instruments Co., Ltd., with
the aim of tapping into the unlimited potential of the Chinese
med-tech market based on the globally unique magnesium-based
implant technology successfully developed by Syntellix, which has
already obtained product registration and market approval in 56
countries worldwide.
The co-operation and distribution agreement foresees a very
close and intense co-operation in many areas including sales &
marketing and distribution in China as well as research &
development, academic projects and training activities in China,
and also a Sino-German exchange in order to promote the unique
advantages of Syntellix' magnesium alloy-based highly innovative
implants. China, with its population of 1.5 billion people, is
expected to become the biggest medical technology market in the
world during the years to come.
The minimum purchase quantity of the agreed milestone contract
amounts to more than 100 million euros over 5 years and thus
reflects the significant potential of Syntellix' technology as well
as Chunli's market access and distribution strength in the whole of
China. Both sides are confident to achieve even far higher sales
volumes than this contractually agreed minimum amount.
On the side of Chunli, the contract was signed by Mr Shi
Chunbao, the Founder, CEO, Director of the Boards and also Majority
Shareholder of Chunli. For Syntellix, Prof. Dr. Utz Claassen, the
Executive Chairman & CEO of Syntellix Asia Pte. Ltd., signed the
contract.
The signature of the co-operation and distribution agreement
marks a milestone in a year that for both companies has already
seen major breakthrough developments. As recently as on 28 May,
Syntellix was honoured with the German Innovation Award in Gold in
the category "Excellence in Business to Business - Medical
Technologies" for its MAGNEZIX® Pins magnesium implants at a gala
event held at the Museum of Technology in Berlin by the German
Design Council, which was founded in 1953 on the initiative of the
German Federal Parliament.
All of Syntellix' globally unique MAGNEZIX® products are
designed to provide surgeons and patients with advanced implants
that offer a previously unattainable combination of metallic
stability, degradability and biocompatibility. In a widely
acclaimed recent academic publication, Syntellix bone screws were
evaluated as being "clinically superior" to the titanium implants
commonly used. In April of this year, at a conference in
Surakarta/Java, Gowreeson Thevendran, a leading surgeon from
Singapore, based on his excellent experience with these implants
over several years, described the magnesium technology developed by
Syntellix as "the new gold standard" in this area.
MAGNEZIX® bioabsorbable metal implants, based on a globally
unique patented magnesium alloy, dissolve completely in the bone.
Unlike conventional metal implants, the patient does not have to
undergo a second surgery to remove the implants. MAGNEZIX® implants
degrade in the human body and are converted into bone tissue. This
means these implants even support the healing process. Magnesium
also has an inhibitory effect on infection and is well tolerated;
according to the German Innovation Award jury, it is a "quantum
leap in implantology".
Chunli has recently added three new products to its already
comprehensive orthopaedic joint product range, all of which
successfully obtained product registration in China via the
fast-track process. Syntellix, similarly, already has been granted
the accelerated "innovative pathway" by the National Medical
Products Administration (NMPA), the regulatory authority
responsible for product registrations in China.
"Chunli is the best possible partner for us," said Prof. Dr.
Utz Claassen, Executive Chairman & CEO of Syntellix Asia Pte. Ltd.,
after signing the co-operation contract. "This co-operation is a
milestone for us that can impact upon and change the medical world.
We see it as a further confirmation that our magnesium technology
has the potential to completely replace conventional titanium,
steel or polymer implants in the long term. In doing so, Chunli and
Syntellix' strengths and interests are completely synergetic and
aligned. The combination of Chunli's significant resources and
unique market access in China with our globally unique magnesium
technology will be a great basis for us to uncompromisingly pursue
our winning approach and bring it to a successful conclusion for
the good of patients around the globe."(continues)