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  • aap Implantate AG
  • Lorenzweg 5
  • 12099 Berlin
  • http://www.aap.de
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  • Marc Heydrich
  • +49 (30) 75019-134

aap Implantate AG and eontec Co., Ltd. (China) announce a joint venture to develop medical implants made from magnesium

(PresseBox) (Berlin, ) aap Implantate AG (XETRA: AAQ.DE ) a global medical device company focused on innovative trauma products and biomaterials for the orthopaedic market and eontec Co., Ltd. (SZSE 300328), 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. The partnership reinforces the commitment of both companies to develop medical implants made from magnesium given the potential healthcare benefits for patients.

The focus 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 product would save the explantation operation for removing an implant thus contributing to less risk for the patient, better quality of life and less 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 equal.

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."

This release contains forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments.

aap Implantate AG

aap is a global medical device company headquartered in Berlin, Germany that develops, manufactures and markets innovative biomaterials and implants that are used in orthopedic procedures. The Company's products, which include a full line of plating systems, cannulated screws and bone cement products, are primarily used in the orthopedic specialty areas of trauma and spine repair. The Company's products are sold through its direct sales force, distribution partners and license agreements with OEM partners. aap's stock is listed in the Prime Standard segment of the Frankfurt Stock Exchange. For more information, please visit www.aap.de, or download the Company's investor relations app from the Apple's App Store or Google Play.