(Yicai) May 9 -- Sanyou Medical, a Chinese medical devices maker, said US regulators approved a spinal immobilization device developed by its French subsidiary.

Implane's JAZZ Spinal System recently received the US Food and Drug Administration's regulatory approval, Shanghai-based Sanyou announced late yesterday. The product helps correct problems in the spinal system of skeletally mature patients who suffer from spinal diseases, including fractures, degeneration, and deformities, it added.

JAZZ Spinal System is the latest generation of spinal orthopedic products and can compete in the high-end orthopedic device market in Europe and the United States, Sanyou pointed out.

The system was researched and developed at Sanyou's headquarters based on innovative therapies, with the company owning all of the invention patents, it said. Technologies were then exported to Implane, it added.

Sanyou has set up a US sales team whose members have extensive connections with local experienced doctors and distributors, which will help launch and promote the new product in the local market, it noted.

Last December, Sanyou became the controlling shareholder of Implanet after gradually investing EUR10 million (USD10.7 million) to raise its stake in the firm. The unit is listed on the Paris Stock Exchange.

Sanyou will make full use of Implanet's existing marketing network in more than 10 countries in Europe, North America, South America, and Asia to export its self-developed innovative treatments and products to high-end orthopedic device markets, it said at the time.

Sanyou [SHA: 688085] closed down 0.2 percent at CNY18.46 (USD2.55) a share today. The broader Shanghai Composite Index rose 0.8 percent. Implanet's stock [EPA: ALIMP] tumbled 12.5 percent to 0.08 Euro cents (0.09 US cents) as of 9.18 a.m. local time.

Editor: Martin Kadiev