AIM listed AOI Medical (AIM: AOI) shares rose more than 10% after the company said its Ascendx™ system is on track to obtaining FDA approval, after successfully completing enrolment for a sixty (60) patient clinical trial.
The ‘Ascendx VCF Reduction System’ is an investigative device which comprises a set of tools specifically designed for use in the treatment of painful pathological fractures of the vertebra, according to AOI, the tools are designed to offer potential enhancements over current techniques.
The fractures for which the Ascendx device is designed for are typically caused by osteoporosis, metastatic cancers and myeloma. According to VOI, the size of the market is estimated to be in the region of US$700 million annually, rising to over US$900m by 2012.
The trial began 15 months ago in June 2008 in eight sites across the United States.