Allegra’s 3D-printed spinal cage withstands 5 million tests, shares up
Health & Biotech
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Allegra Orthopaedics (ASX:AMT) shares climbed today after another impressive round of positive results came in on its spinal cage device.
The company told shareholders it had passed 5 million cycles of its successful dynamic compressive test without any signs of fracture or failure.
Allegra hit a high of 53 cents back in July after announcing it had acquired the intellectual property on its Sr-HT-Gahnite synthetic bone substitute.
The material strengthens bones to ensure regeneration and is 3D-printable. The company immediately set to work on developing an “interbody cervical spine cage” which would be able to regenerate bones under spinal load conditions and ultimately absorb itself into the body.
Shares dipped as low as 14 per cent in October as the news flow dried up, but the first round of positive tests on the spinal cage have brought them back to life in December.
Torsion tests measured its ability to withstand twisting, and shear tests “applied a sliding stress to the implant”. Essentially, Allegra is testing the implant’s ability to withstand fracturing.
Additional test results have confirmed the cage passed the regulatory five million cycles, putting Allegra on track to begin a pilot animal study in Australia in January.
“These results validated (that) the enhancements made to the spinal fusion cage design have been effective,” CEO Jeremy Swain said.
“We are looking forward to the pilot animal study commencing late January, followed by the progression to a large animal body.”
Shares in Allegra rose 19.35 per cent on Friday’s closing price of 31 cents.