Trauma company aap Implantate AG and eontec Co., Ltd., a leading Chinese company specializing in magnesium alloys, today announced an agreement to form a 50/50 joint venture for the development of biodegradable medical implants made from magnesium alloys.
Magnesium has been touted as an ideal material from which to manufacture certain types of medical device. For example, cardiovascular stents are suitable candidates because a magnesium stent possesses similar properties to its metallic counterpart, but with the advantage of being ultimately absorbable.
The focus of this new collaborative venture will first be on the development of a medical implant for traumatological applications. If approved, this trauma product could be the first of its kind. The theory goes that products made from Magnesium would avoid the need for a secondary explantation operation, which translates into less risk for the patient, better quality of life and lower healthcare cost.
The joint venture will bear the development cost of the product which is expected to enter human clinical studies within one year. A small initial cash investment will be made by both companies and further development cost will be shared equally.
for aap Implantate
Biense Visser, CEO of aap Implantate AG, said: “We are delighted to be working with eontec Co., Ltd., an established and leading Chinese company in the development and production of magnesium products for the electronics industry. We welcome especially the opportunity to work with eontec’s Chairman and CEO Professor Lugee Li. He is an excellent materials scientist and a successful entrepreneur. eontec Co., Ltd. not only employs 100 research and development employees, Professor Lugee Li has been appointed by the Chinese Government to chair the taskforce for the development of magnesium medical implants.”
Professor Lugee Li, Chairman and CEO of eontec Co., Ltd., said: “We are excited to be working with aap and establish another example of successful German – Chinese cooperation. We value the opportunity to work with the experienced staff of aap and their competencies in the clinical and regulatory development of trauma products. We expect to leverage this partnership to accelerate the development of medical implants for human use.”
Source: aap Implantate, AG.