Syntellix Asia and Chunli Agree Far-reaching Co-operation to Introduce and Market Innovative "Quantum Leap in Implantology" MAGNEZIX(R) Medtech Devices in China

PR80277

SINGAPORE and BEIJING, Aug. 30, 2019 /PRNewswire=KYODO JBN/ --

- 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(R) 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(R) 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(R) 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(R) 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(R) 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."

Chunli CEO Mr Shi Chunbao commented the pioneer transaction as follows: "Chunli

has seen a fantastic development in China and beyond in recent years based on

high quality, market proximity and excellent products in key implant areas such

as knee or hip joints. With the Syntellix range of MAGNEZIX (R) products that

are completely complementary for us and thus perfectly synergetic, we have the

basis to disrupt the implant market in China. German technology and Chinese

market understanding and market proximity are a unique combination and a unique

asset that, as I am convinced, will also impress our shareholders and potential

investors."

About Chunli:

Chunli is a leading Chinese orthopaedic and trauma med-tech device manufacturer

and marketeer. The company is listed in the Honk Kong Stock Exchange and has

undergone significant growth and a highly successful value creation development

in recent years. Chunli employs more than 600 people of which more than 300 are

working in sales & marketing. The company engages approximately 600

sub-distributors and covers all provinces of China. It has access to

approximately 6,000 hospitals in the People's Republic. Chunli is not only

engaged in manufacturing and marketing & sales, but has also developed a high

reputation as a driver of research and innovation: the company hosts, organizes

and sponsors numerous high-level academic events in China and beyond, and it is

also engaged in research and training activities at hospital, municipal,

provincial and national level. Chunli targets to be the leading supplier of

orthopaedic medical technology in China for the years to come and has already

made very significant progress towards this goal. In 2018, the company achieved

a market share of approximately 15 percent in China, and in 2019 it intends to

become the market leader in China in the market of orthopaedic and trauma

implants.

About Syntellix:

Syntellix Asia Pte. Ltd. is the Asian subsidiary and hub of Syntellix AG,

Germany, an internationally operating medical technology company with

headquarters in Hannover, Germany, that is undergoing dynamic growth. The

company specialises in the research and development and marketing and sales of

highly innovative transformable metallic implants. Products made from the

company's patented MAGNEZIX(R) are unique. In a widely acclaimed publication,

they were evaluated as being clinically superior to the titanium implants

commonly used. The implants degrade in the human body and are transformed into

the body's own bone tissue, and in doing so offer an ideal combination of

stability, elasticity and bioabsorbability. In a conference in Surakarta/Java,

a leading surgeon from Singapore described the magnesium technology developed

and used by Syntellix as "the new gold standard" in this area.

Syntellix is the world's market and technology leader in the field of

bioabsorbable metallic orthopaedic implants and has already been honoured with

numerous important national and international awards and prizes. These include

the Innovation Award of the German Economy 2012/13, the Future Award 2016 of

the German Healthcare Economy, the German Medical Award 2017, the STEP Award

2017 and the Innovator of the Year 2017 award – and now in 2019 the German

Innovation Award in Gold; the implants were also a winner in the Product of the

Year category of the Sustainability Award 2018 program.

Syntellix Asia Pte. Ltd.

2 Science Park Drive

#02-10 Ascent

Singapore 118222

T +65-6265-1970

F +65-6265-3346

info@syntellix.com     

www.syntellix.com

Board of Directors

Prof. Dr. Utz Claassen

Prof. Dr. Martin Kirschner

Dr.-Ing. Jan-Marten Seitz

Tan Bien Kiat  

Sun Meng Sheng

Executive Chairman & CEO  

Prof. Dr. Utz Claassen

For further information:

press@syntellix.com

Source: Syntellix AG