LAGUNA HILLS, CA and SHANGHAI - Dec. 9th, 2019 - representatives of the two contract partners phenox and Wallaby Medical met in Shanghai to finalize a strategic partnership. The cooperation focuses on the sale of Wallaby Medical's Avenir® Coil System for the treatment of brain aneurysms. The system is CE Marked and FDA 510K cleared and is already marketed by phenox in the USA.
Phenox as a strategic partner of Wallaby Medical develops and produces medical devices for the treatment of acute ischemic and hemorrhagic strokes globally.
Michael Alper (CEO Wallaby Medical) as the representative of the American-Chinese Wallaby Medical Group, Mr. Wang Ji (Director of the Shanghai International Medical Zone Group), Mr. Ruilin Zhao, from CD Capital, a Wallaby investor and media representatives met with Dr.-Ing. Hermann Monstadt (Managing Partner of phenox group) and James Lago (CEO phenox USA) as the representatives of phenox were present.
"The Avenir® Coil System is a complementary extension of our product portfolio," said Managing Director Dr.-Ing. Hermann Monstadt. " After the successful initial sales launch in the US, we are aiming to expand the market launch into other established markets, such as the EU."
"The Chinese government has made significant investments in healthcare and hospital infrastructure which has led to China becoming the largest market for neurovascular medical devices. Leveraging the supportive government polices, our respective technologies and operations capabilities, we expect to be able to have a very prosperous collaboration.", said Michael Alper (CEO Wallaby Medical). The agreement signed in Shanghai therefore contains an option for the distribution of Phenox's products by Wallaby Medical in China.
About Wallaby Medical
Wallaby Medical, Inc. is a private company located in Laguna Hills, California that focuses on developing products for treating hemorrhagic and ischemic stroke.
Wallaby Medical, Inc.