Positive signs for further growth in Asia: Syntellix receives product approvals in Malaysia and Myanmar earlier than planned

Hannover (ots) -

- MAGNEZIX® StarFuse® and Compression Screw 4.8 (CSc 4.8) product lines receive
approval from
Malaysian authorities eight months ahead of schedule.
- Two product families, MAGNEZIX® Compression Screw (CS) and MAGNEZIX® Cortical
Bone Screw (CBS),
also granted approval in Myanmar, six months earlier than expected.
- Subsidiary in Singapore, Syntellix Asia Pte. Ltd., coordinating development of
ASEAN market and
acting as an important catalyst.
- Syntellix now has product approvals in 65 countries worldwide.

Syntellix AG, the world's leading supplier of highly innovative magnesium
implants for orthopaedics and trauma surgery, has achieved important milestones
for the further development of the high-potential Asian market. It has announced
that it has received approval from the Medical Device Authority in Malaysia for
its patented MAGNEZIX® StarFuse® arthrodesis implant and the new larger version
of its successful MAGNEZIX® CS compression screw, the CSc 4.8. Together with the
smaller CS variants, the MAGNEZIX® Pins and the MAGNEZIX® CBS cortical screw,
which have already received approval, the Hanover-based biomedical engineering
and material & life science company now has a fully approved product portfolio
in a further country in Southeast Asia.

In Myanmar, Syntellix has received initial approval from the Ministry of Health
and Sports for the planned basic product range comprising MAGNEZIX® CS and CBS.
The country with over 55 million inhabitants has undergone extremely positive
economic development following the political reforms and the opening up of the
economy in 2011. Its economy is growing at an average rate of 6-8% p.a., GDP per
capita has risen by almost 59% during the same period, and in terms of aspects
such as life expectancy and density of care its healthcare system is making
great strides towards catching up with the rest of the world. During a plenary
lecture given by Syntellix chairman Prof. Dr. Utz Claassen at the 51st Annual
Scientific Meeting of the Myanmar Orthopaedic Society in Yangon in November
2019, it was evident that scientists and practitioners in the field of
orthopaedic and trauma surgery were extremely interested in the revolutionary
bioabsorbable material developed by Syntellix that would benefit patients in
Myanmar. Its use was seen as a great opportunity for the health care system
there.

Asian countries have consistently shown that they are very open-minded and
highly interested in medical innovations as a basis for excellent and efficient
healthcare. With their high growth rates in terms of population and the economy,
the rapidly emerging markets are increasingly relying on new and sustainable
forward-looking technologies, also in their healthcare systems, to improve
quality of life, reduce the perceived gap between them and the established
industrialised nations, and become self-sufficient. Such an environment, which
is particularly conducive to progress, favours the growth potential of the
trendsetting MAGNEZIX® material, because the magnesium-based material and the
implants manufactured from it set new standards in patient safety. According to
the WHO, hundreds of millions of patients worldwide are affected by surgery and
care-related infections every year. The use of MAGNEZIX® implants eliminates the
need to remove material, because although they are metallic and correspondingly
stable, they decompose and are converted to bone tissue by the body, which means
no foreign material remains in the body. This completely eliminates the risk of
infection during an otherwise necessary second operation and the corresponding
inpatient hospital stay. According to the experience reported, magnesium also
stimulates bone growth in an osteoconductive manner, has an infection-inhibiting
effect and has a particularly good tolerability. MAGNEZIX® implants therefore
make a substantial contribution to patient safety.

The most recent approvals mean that Syntellix now has MAGNEZIX® product
approvals in a total of 65 countries worldwide - for the treatment of
malpositions, fractures and cartilage-bone defects using the most advanced
magnesium implants in orthopaedic, trauma, paediatric and sports surgery.

About Syntellix:

Syntellix AG based in Hanover, Germany, is an international company engaged in
biomedical engineering and material & life science that is undergoing dynamic
organic growth. The company specialises in the research, development and
marketing/sales of highly innovative transformable metallic implants. These are
broken down by the body and transformed into autologous bone tissue and in doing
so offer an ideal combination of stability, elasticity and bioabsorbability. In
recent medical-scientific publications concerning various clinical applications,
MAGNEZIX® implants are rated as "being advantageous" or even "clinically
superior" to conventional titanium implants.

Syntellix AG is the world's market and technology leader in the field of
bioabsorbable metallic orthopaedic implants and has already been honoured with
numerous important awards and prizes, including 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, the Innovator of the Year
2017 award and the German Innovation Award in Gold (2019); internationally, the
implants were a winner in the Product of the Year category of the Sustainability
Award 2018 program.

Disclaimer:

This press release is a translation and has been issued for information purposes
only. Should there be any discrepancy between this translation and the original
German text, the latter shall be the legally binding version.

Contact:

Syntellix AG
Aegidientorplatz 2a
30159 HannoverGermany
T +49 511 270 413 50
F +49 511 270 413 79

info@syntellix.com
www.syntellix.com

Executive Board
Prof. Dr. rer. pol. Utz Claassen
Chairman of the Executive Board/CEO
Dr. rer. pol. oec. Amir S. Ghoreishi
CFO
Prof. Dr. med. Martin Kirschner
CTO

Chair of the Supervisory Board
Annette Claassen

Registered Office
Hannover
Amtsgericht Hannover
HRB 202618

For further information:
Pierre Frega
press@syntellix.com

Additional content: https://www.presseportal.de/pm/122353/4528531
OTS: Syntellix AG

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