Syntellix AG: Successful selection to the funding program "German Accelerator Life Sciences"

Hannover (ots) - Syntellix successfully passes a multi-stage
admission and assessment process - Program offers selected German
companies support in entering the US market and is supported by the
German Federal Ministry for Economic Affairs and Energy - The United
States, by far the largest market for implants worldwide, naturally
offer enormous economic potential - Syntellix is now supported by the
Lower Saxony State Government, the Economic Development Board of the
Republic of Singapore and the German Federal Government

Syntellix AG has been included in the coveted "Access" program of
the German Accelerator Life Science (GALS) after a complex
multi-stage selection process.

The German Accelerator Life Sciences is part of the funding
program "German Accelerator" (www.germanaccelerator.com), initiated
and sponsored by the German Federal Ministry for Economic Affairs and
Energy (BMWi). The aim of the German Accelerator Life Sciences is to
provide individual support to German life science companies
(including medical technology), which possess and demonstrate a high
potential for innovation and implementation, in developing one of the
largest domestic markets in the world.

The program offers a comprehensive range of consulting and other
services tailored specifically to the healthcare market in the United
States (including the Cambridge business location), as well as
versatile, valuable relationships with strategic partners, investors,
multipliers and professionals.

Commenting on the selection and development potential of Syntellix
AG, GALS CEO Christoph Lengauer emphasizes: "We are thrilled to be
advising Syntellix on its market entry in the USA with its pioneering
magnesium implants 'made in Germany'."

Syntellix has already gained direct access to the comprehensive
GALS network through the "Access" program, which is made up of
renowned US experts from the relevant competence areas of market
entry strategy, distribution and product approval. First project
groups are already working intensely.

"It is always exciting and challenging to work together with
emerging companies in this important phase," states Stefan
Beerhalter, Vice President Germany, about the cooperation with
Syntellix. "The participants bring in the innovative moment and then
we work together to adjust the strategic direction accordingly, to
identify opportunities, to meet regulatory requirements, in other
words: not only to pave the way for a sustainable success story with
our expertise, but also to shortcut it."

Syntellix AG intends, also based on the successful collaboration
with GALS, to introduce its highly innovative MAGNEZIX® implants,
which are comparable in stability to titanium implants, but dissolve
in the body after bone healing because they consist of a unique
bioabsorbable magnesium alloy, in the US market and to benefit from
the competence and experience of the German Accelerator in the sense
of the program supported by the Federal Government of Germany.

The CEO of Syntellix AG, Prof. Dr. Utz Claassen, explains: "The US
represents one of the most important markets for implants. More than
half of total global market volume is attributable to North America.
The US is also a very important innovation catalyst in the medtech
sector; this makes it a key market for our further international
growth strategy. But development from the outside naturally involves
both bureaucratic and institutional challenges. This is exactly where
the special know-how and unique network of the GALS comes into play,
in order to try to jointly design an optimum market entry. Time is of
great importance for our further expansion - we therefore greatly
appreciate that we have been included in this literally
"accelerating" program, and we are very grateful for that. We are
very pleased that, in addition to the support already granted by the
Lower Saxony state government and the Republic of Singapore, we are
now also supported by the German Federal Government through GALS in
our international rollout towards the benefit of patients, physicians
and healthcare systems worldwide."

About Syntellix:

Syntellix AG is an internationally operating, dynamically growing
medical technology company, headquartered in Hannover (Germany). The
company specializes in research, development, marketing and
distribution of highly innovative transformable metallic implants.
The products, which are made of the patented material MAGNEZIX®, are
unique and, in a recent publication, have been found to be clinically
superior compared with common titanium implants. They degrade in the
body and are converted into endogeneous bone tissue while providing a
favourable combination of stability, elasticity and bioabsorbability.

Syntellix AG is the global market and technology leader in the
area of bioabsorbable metallic orthopaedic implants and has already
been honored with many major awards and prizes, including the
Innovation Prize of the German Economy 2012/13, the Future Prize of
the Health Industry Club 2016, the German Medical Award 2017, the
STEP Award 2017, and it has also been honored as "Innovator of the
Year 2017" in Germany. Syntellix founder Utz Claassen himself
received the award as "Most Innovative Entrepreneur International
2016" from the hands of EU Commissioner Günther Oettinger, not least
for his work for Syntellix.

Pressekontakt:
Ms. Caroline Meyer-Maltseva
Press Relations
T: +49 (0)511 270413-55
presse@syntellix.com
www.syntellix.com

Syntellix AG
Aegidientorplatz 2a
30159 Hanover
Germany

Original-Content von: Syntellix AG, übermittelt durch news aktuell