Syntellix's acquisition of 73% stake in materials specialist MSE results in strategically important vertical integration ahead of intended international flotation

Hannover (ots) - At yesterday's AGM, shareholders of Syntellix AG
approved all the management's proposed resolutions by an overwhelming
majority of 99%.

- Preparations for the intended IPO will be supported by a
multinational Supervisory Board comprising internationally renowned
personalities from the world of finance.

With its patented MAGNEZIX® magnesium technology, Syntellix AG is
currently in the process of redefining the global market for
orthopaedic implants and in doing so has achieved significant
progress during the current year. At its annual general meeting
yesterday, the company announced that as part of a capital increase
it will acquire a 73% stake in material supplier Materials Science
and Engineering Werkstoffzentrum Clausthal GmbH (MSE) and thereby
further enhance its successful strategic partnership with the MSE
group of Prof. Neubert and his family, which was responsible for
making the globally unique innovation MAGNEZIX® possible in the first
place. This vertical integration is regarded as an important step in
the run-up to Syntellix's proposed international flotation and was
received with enthusiasm by the company's domestic and foreign
investors.

At yesterday's AGM, Syntellix's shareholders also approved all the
actions proposed by the management by an overwhelming majority of
over 99% of the voting stock. Even if the votes of the main
shareholder, Prof. Claassen, had not been taken into account, there
would still have been 99% approval for all the proposed resolutions.
The company's investors, who have already expressed their support to
a very notable extent by injecting capital as part of several
successful capital increases during the current year, thus were in
complete agreement on all upcoming formal, structural and strategic
steps.

Syntellix's CEO, founder and main shareholder, Prof. Dr. Utz
Claassen explains: "The acquisition of the majority stake in MSE in
Clausthal with its unique competence in materials science and
production engineering represents an extremely significant and a
highly satisfactory step for Syntellix in the run-up to the intended
flotation. As was again demonstrated impressively at yesterday's AGM,
it is also pleasing that there is fantastic agreement between
Syntellix's investors concerning the correctness of the approach
being adopted to tap the enormous potential as well as regarding the
respective measures that have been taken and the milestones that have
been reached this year. Quite a few major corporations could have
been excused for being envious of us when two globally renowned
personalities from the world of finance, Jürgen Fitschen and Steven
F. Mayer, were elected to the Supervisory Board. Highly competent
nationals from the Republic of Singapore, the People's Republic of
China and the United States of America will join the members from
Germany in future."

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 transformed 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 2016, the German Medical Award 2017, the STEP
Award 2017, and the "Innovator of the Year 2017" in Germany;
internationally the implants were a winner in the Product of the Year
category of the Sustainability Award 2018 program.

Pressekontakt:
Caroline Meyer-Maltseva
PR
T +49 511 270413-55
presse@syntellix.com
www.syntellix.com

Syntellix AG
Aegidientorplatz 2a
30159 Hanover
Germany

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