The Florida-based company began development of the ALIF implant, which is short for enhanced expandable anterior lumbar interbody fusion, in 2018.
The ALIF implant allows the surgeon to expand it after insertion into a disc space, reducing operating times while providing a cost savings for the hospital.
CEO Michael Chermak said the company is encouraged by the initial-testing results and has “incorporated several improvements into our next design.”
Once the testing is completed and a final designated accepted, Ozop plans to submit the final design to the US Food and Drug Administration within the next two years.
“Developing an infinitely adjustable ALIF implant is a challenging design goal but the end outcome will allow the surgeon to ensure segmental stability and restore sagittal balance,” Chermak said. “We look forward to completing testing for FDA submission in the near future and hope to have our approval by the end of the year."
Ozop’s stock trades around $0.045 a share.
Contact the author: [email protected]
Follow him on Twitter @PatrickMGraham