SINGAPORE and BEIJING, Aug. 30, 2019 /PRNewswire/ — In the present day, a far-reaching co-operation contract was signed between Syntellix Asia Pte. Ltd., the Singapore primarily based Asian subsidiary and hub of extremely modern German biomedical know-how pioneer Syntellix AG from Hannover and China’s main orthopaedic implant provider Beijing Chunlizhengda Medical Devices Co., Ltd., with the goal of tapping into the limitless potential of the Chinese language med-tech market primarily based on the globally distinctive magnesium-based implant know-how efficiently developed by Syntellix, which has already obtained product registration and market approval in 56 nations worldwide.
The co-operation and distribution settlement foresees a really shut and intense co-operation in lots of areas together with gross sales & advertising and distribution in China in addition to analysis & improvement, tutorial tasks and coaching actions in China, and likewise a Sino-German alternate with a purpose to promote the distinctive benefits of Syntellix’ magnesium alloy-based extremely modern implants. China, with its inhabitants of 1.5 billion folks, is anticipated to turn into the most important medical know-how market on this planet throughout the years to return.
The minimal buy amount of the agreed milestone contract quantities to greater than 100 million euros over 5 years and thus displays the numerous potential of Syntellix’ know-how in addition to Chunli’s market entry and distribution power in the entire of China. Each side are assured to attain even far greater gross sales volumes than this contractually agreed minimal quantity.
On the aspect of Chunli, the contract was signed by Mr Shi Chunbao, the Founder, CEO, Director of the Boards and likewise Majority Shareholder of Chunli. For Syntellix, Prof. Dr. Utz Claassen, the Govt Chairman & CEO of Syntellix Asia Pte. Ltd., signed the contract.
The signature of the co-operation and distribution settlement marks a milestone in a yr that for each corporations has already seen main breakthrough developments. As not too long ago as on 28 Could, Syntellix was honoured with the German Innovation Award in Gold within the class “Excellence in Enterprise to Enterprise – Medical Applied sciences” for its MAGNEZIX® Pins magnesium implants at a gala occasion held on the Museum of Expertise in Berlin by the German Design Council, which was based in 1953 on the initiative of the German Federal Parliament.
All of Syntellix’ globally distinctive MAGNEZIX® merchandise are designed to offer surgeons and sufferers with superior implants that supply a beforehand unattainable mixture of metallic stability, degradability and biocompatibility. In a extensively acclaimed latest tutorial publication, Syntellix bone screws had been evaluated as being “clinically superior” to the titanium implants generally used. In April of this yr, at a convention in Surakarta/Java, Gowreeson Thevendran, a number one surgeon from Singapore, primarily based on his glorious expertise with these implants over a number of years, described the magnesium know-how developed by Syntellix as “the brand new gold normal” on this space.
MAGNEZIX® bioabsorbable steel implants, primarily based on a globally distinctive patented magnesium alloy, dissolve utterly within the bone. In contrast to standard steel implants, the affected person doesn’t should bear a second surgical procedure to take away the implants. MAGNEZIX® implants degrade within the human physique and are transformed into bone tissue. This implies these implants even assist the therapeutic course of. Magnesium additionally has an inhibitory impact on an infection and is nicely tolerated; based on the German Innovation Award jury, it’s a “quantum leap in implantology.”
Chunli has not too long ago added three new merchandise to its already complete orthopaedic joint product vary, all of which efficiently obtained product registration in China by way of the fast-track course of. Syntellix, equally, already has been granted the accelerated “modern pathway” by the Nationwide Medical Merchandise Administration (NMPA), the regulatory authority answerable for product registrations in China.
“Chunli is the absolute best associate for us,” stated Prof. Dr. Utz Claassen, Govt Chairman & CEO of Syntellix Asia Pte. Ltd., after signing the co-operation contract. “This co-operation is a milestone for us that may impression upon and alter the medical world. We see it as an additional affirmation that our magnesium know-how has the potential to utterly substitute standard titanium, metal or polymer implants in the long run. In doing so, Chunli and Syntellix’ strengths and pursuits are utterly synergetic and aligned. The mix of Chunli’s vital sources and distinctive market entry in China with our globally distinctive magnesium know-how might be an ideal foundation for us to uncompromisingly pursue our profitable method and convey it to a profitable conclusion for the nice of sufferers across the globe.”
Chunli CEO Mr Shi Chunbao commented the pioneer transaction as follows: “Chunli has seen a improbable improvement in China and past lately primarily based on top quality, market proximity and glorious merchandise in key implant areas akin to knee or hip joints. With the Syntellix vary of MAGNEZIX ® merchandise which might be utterly complementary for us and thus completely synergetic, we’ve the idea to disrupt the implant market in China. German know-how and Chinese language market understanding and market proximity are a singular mixture and a singular asset that, as I’m satisfied, will even impress our shareholders and potential traders.”
Chunli is a number one Chinese language orthopaedic and trauma med-tech system producer and marketeer. The corporate is listed within the Honk Kong Inventory Trade and has undergone vital development and a extremely profitable worth creation improvement lately. Chunli employs greater than 600 folks of which greater than 300 are working in gross sales & advertising. The corporate engages roughly 600 sub-distributors and covers all provinces of China. It has entry to roughly 6,000 hospitals within the Folks’s Republic. Chunli shouldn’t be solely engaged in manufacturing and advertising & gross sales, however has additionally developed a excessive status as a driver of analysis and innovation: the corporate hosts, organizes and sponsors quite a few high-level tutorial occasions in China and past, and additionally it is engaged in analysis and coaching actions at hospital, municipal, provincial and nationwide stage. Chunli targets to be the main provider of orthopaedic medical know-how in China for the years to return and has already made very vital progress in the direction of this purpose. In 2018, the corporate achieved a market share of roughly 15 p.c in China, and in 2019 it intends to turn into the market chief in China out there of orthopaedic and trauma implants.
Syntellix Asia Pte. Ltd. is the Asian subsidiary and hub of Syntellix AG, Germany, an internationally working medical know-how firm with headquarters in Hannover, Germany, that’s present process dynamic development. The corporate specialises within the analysis and improvement and advertising and gross sales of extremely modern transformable metallic implants. Merchandise comprised of the corporate’s patented MAGNEZIX® are distinctive. In a extensively acclaimed publication, they had been evaluated as being clinically superior to the titanium implants generally used. The implants degrade within the human physique and are remodeled into the physique’s personal bone tissue, and in doing so supply a really perfect mixture of stability, elasticity and bioabsorbability. In a convention in Surakarta/Java, a number one surgeon from Singapore described the magnesium know-how developed and utilized by Syntellix as “the brand new gold normal” on this space.
Syntellix is the world’s market and know-how chief within the discipline of bioabsorbable metallic orthopaedic implants and has already been honoured with quite a few necessary nationwide and worldwide awards and prizes. These embody the Innovation Award of the German Financial system 2012/13, the Future Award 2016 of the German Healthcare Financial system, the German Medical Award 2017, the STEP Award 2017 and the Innovator of the Yr 2017 award – and now in 2019 the German Innovation Award in Gold; the implants had been additionally a winner within the Product of the Yr class of the Sustainability Award 2018 program.
Syntellix Asia Pte. Ltd.
2 Science Park Drive
T +65 6265 1970
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Board of Administrators
Prof. Dr. Utz Claassen
Prof. Dr. Martin Kirschner
Dr.-Ing. Jan-Marten Seitz
Tan Bien Kiat
Solar Meng Sheng
Govt Chairman & CEO
Prof. Dr. Utz Claassen
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SOURCE Syntellix AG