Philippines becomes the 67th country to approve MAGNEZIX® products
Hanover, 3 February 2021.
Syntellix, the world's leading supplier of highly innovative magnesium-based implants for orthopaedics and trauma surgery, has reached another important milestone. The Philippine Food and Drug Administration (FDA) has granted Syntellix AG the registration of the full MAGNEZIX® CBS screw portfolio, making the Philippines the 67th country that allows for import and sale of MAGNEZIX® implants. Having this at hand, Syntellix is enthusiastic to scale up its business operations, bundled in its local subsidiary Syntellix Philippines Inc., and introduce an increasing number of medical devices to the Southeast Asian archipelago for the benefit of the Philippine patients, doctors, healthcare providers and society.
The country, with a steadily growing number of already more than 105 million inhabitants, thus significantly more than established markets such as Germany, Great Britain, France or Spain, has been experiencing a consistent boom period for years with more than 120 per cent GDP growth between 2009 and 2019. Its economic flourishing comes along with an increasing demand for highly modern, efficient medical treatment and considerable efforts for health care system improvements. As these trends have emerged in large parts of Southeast Asia and are foreseeable to continue vigorously, Syntellix backs part of its long-term strategy on establishing itself in the region, with Singapore as its second headquarter. The openness, dynamics, and innovation-friendliness of the ASEAN region offer an ideal breeding ground for exponential growth, and therefore fit perfectly with the company’s vision of disrupting the traditional medical implant industry towards patient benefit around the globe.
Body-affine, magnesium-based MAGNEZIX® implants set new standards for better, safer and, at the same time, more cost-efficient patient care. After implantation, they biodegrade and accordingly are converted to bone tissue over time, thus eliminating the need for implant removal surgeries. According to the WHO, “it can be estimated that each year, hundreds of millions of patients worldwide are affected by HAI” (healthcare-associated infections). Around 15% of hospital expenditure in high-income countries is due to mistakes in care or patients being infected while in hospitals. Syntellix CEO Prof. Utz Claassen, in his outlook for the upcoming year, says Syntellix tackles this issue with its revolutionary technology that makes implant removal surgeries obsolescent: “2021 is going to be the year to push back the global COVID-19 pandemic, but also to fight the equally dangerous internationally prevailing MRSA endemic”.
With its latest approval, Syntellix has taken yet another important milestone on its way from pioneering and innovation to marketeering and execution in order to unleash its full potential as the Protagonist of the Age of Magnesium. Globally leading market research firm Frost & Sullivan has recently confirmed that MAGNEZIX® implants, according to its analysis, are becoming the gold standard for the treatment of an increasing number of indications.
Founded in 2018, Syntellix Philippines Inc. markets and sells the highly innovative MAGNEZIX® implants on the Philippines as regional subsidiary of Syntellix Asia Pte Ltd.
Syntellix Asia Pte Ltd, based in Singapore Science Park and with a manufacturing facility in Tuas Biomedical Park, is a wholly owned subsidiary of Syntellix AG and a central hub for the ASEAN market.
Syntellix AG, a multi-award winning global pioneer in biomedical engineering, materials & life science, is the world leader in bioabsorbable metallic orthopaedic implants. Currently, 39 peer-reviewed medical-scientific publications provide evidence for safety, efficacy and reliability of MAGNEZIX® implants for various clinical applications and describe them as "advantageous" or even "clinically superior" to conventional titanium implants.