Hydrix (ASX:HYD) said that Gyder Surgical, a client and investee, has received US Food and Drug Administration (FDA) clearance to sell its Gyder Hip System in the United States, according to a Monday filing with the Australian bourse.
The system, which is a pin-less and image-less navigation solution for hip surgery, has also been approved by Australia's Therapeutic Goods Administration, the filing said.
The FDA approval triggers an AU$0.3 million equity payment to Hydrix Ventures, increasing its investment in Gyder to AU$2.65 million, the filing added.
Shares of the company rose 67% at market close, and earlier hit a 52-week high.
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