LONDON, U.K. — December 8, 2020 — Based on its recent analysis of the European orthopedic and trauma market, Frost & Sullivan recognizes Syntellix AG with the 2020 European Entrepreneurial Company of the Year Award. Its MAGNEZIX products are the world’s first magnesium-based, metallically stable bioresorbable orthopedic implants that are CE marked. The implants function similar to conventional steel or titanium devices but without the need for subsequent removal because it is absorbed by the body and replaced by new bone.
“The MAGNEZIX implant’s unique capability of converting metal to bone makes it an ideal implant of the future,” said Dr. Bejoy Daniel, senior industry analyst. “MAGNEZIX significantly reduces patient risks associated with hospitalization and surgery when using titanium implants, such as allergic or toxic reactions, possible cancer formation, hospital-acquired infection (HAI), or even COVID-19 transmission.”
A major advantage of MAGNEZIX over existing resorbable polymer materials is its higher strength and excellent biocompatibility with a predictable degradation course, making it the right choice for a wide range of medical applications that require safe temporary fixation. MAGNEZIX implants are used for medical indications such as intra and extra-articular fractures, bony avulsion of ligaments and tendons, and even in cases of osteochondral fractures and flakes. Moreover, the underlying material technology offers enormous potential benefits for better patient care in other medical fields, such as neurosurgery and dental implantology.
MAGNEZIX has an elasticity that is similar to human bone and thus leads to a relief of the bone that prevents the negative stress shielding effect as well as osteopenia. In general, pain perception for patients is greatly reduced. The MAGNEZIX implant offers surgeons ease of application and delivers reliable temporary fixation and stabilization. Additional features include metallic stability, full bio-absorbability, and osteoconductivity; these features, along with outstanding tolerability and anti-infectious properties, give it a significant competitive advantage.
“Healthcare authorities around the world have approved MAGNEZIX implants, and the FDA recently designated MAGNEZIX CS 3.2 as a ‘Breakthrough Device’, a privilege accorded to fewer than 1 percent of devices in the orthopedic field,” noted Daniel. “Its unique benefits and materials make MAGNEZIX an ideal solution for use in medical applications and beyond.”
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in devising a strong growth strategy and robustly implementing it. The recipient has shown strength in terms of innovation in products and technologies, leadership in customer value, as well as speed in response to market needs. The award looks at the emerging market players in the industry and recognizes their best practices that are positioned for future growth excellence.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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About Syntellix AG
Syntellix AG, a global biomaterials pioneer engaged in biomedical engineering, material & life science, is the world’s market and technology leader in the field of bioabsorbable metallic orthopedic implants. The company has already been honored with numerous important awards and prizes, including, amongst others, the Innovation Award of the German Economy 2012/13, the Future Award 2016 of the German Healthcare Economy, the German Medical Award 2017, the Innovator of the Year 2017 Award, and the German Innovation Award in Gold 2019; Syntellix implants were also a winner in the Product of the Year category of the Sustainability Award 2018 program and lately, the company has won the renowned Award of Excellence by the International Magnesium Association (IMA). In recent medical-scientific publications concerning various clinical applications, MAGNEZIX® implants have been rated as “being advantageous” or even “clinically superior” to conventional titanium implants.