Syntellix Asia and Chunli agree far-reaching co-operation to introduce and market innovative "quantum leap in implantology" MAGNEZIX® medtech devices in China

Singapore/Beijing (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." 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 ® 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® 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.

Contact:
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

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