Rex Bionics’ vision is to deliver mobility to wheelchair users through advanced robotics; where those that have lost their mobility can stand, walk and live active lives in their community.

Rex Bionics Plc (The Rex Bionics Group) is the global technology leader in robotic exoskeletons (REX). Uniquely, REX® provides independent mobility to wheelchair users and other mobility impaired persons using advanced robotic technology, custom-designed electromechanical actuators, precision engineering, and specialised networking systems.

The key differentiator of REX is the fact that it has been designed from the outset to provide mobility to non-ambulatory wheelchair users rather than as a means to enable otherwise fit individuals to lift supra-physiological loads, enhance endurance or aid mobility of those able to walk with crutches.

The device is designed to enable all users to stand and walk, and REX Personal™ users to scale stairs and navigate slopes.

Rex Bionics’ innovation in robotics provides extensive and varied benefits to REX users who have a unique combination of lifestyle and medical needs. There is extensive public data available which emphasises the health benefits of a person standing and walking.

Today there are two primary REX devices available; an adjustable REX Rehab for use in rehabilitation centres, and a streamlined, fit-for-purpose REX Personal made for each individual’s specific medical and physical requirements enabling the user to perform tasks and functions previously unavailable.

Rex Bionics is a rapidly growing, exciting, innovative organisation which is proud to provide advanced robotics technology to people everywhere.

Step into the Future with REX.™

http://www.rexbionics.com/

SMALL CAP SHARE IDEAS: REX Bionics' tech seems like sci-fi - but £500million market is very real




http://www.dailymail.co.uk/money/investing/article-2721935/SMALL-CAP-SHARE-IDEAS-REX-bionics-looking-technology-aid-mobility.html

Major Grant Awarded by NZ Government

RNS


RNS Number : 7573O

Rex Bionics PLC

11 August 2014






11 August 2014



Rex Bionics Plc

("Rex Bionics" or the "Company")



Rex Bionics awarded major research & development grant by NZ Government



Rex Bionics Plc (AIM: RXB), the developer and manufacturer of hands-free robotic exoskeletons for use by wheelchair users, today announces that its Auckland-based subsidiary Rex Bionics Ltd (RBL) has been awarded substantial new grant funding by the New Zealand Government to support the research and development of REX 3, the platform for the Company's next generation of exoskeletons.



The grant funding is being provided by Callaghan Innovation, a New Zealand Government body responsible for the promotion of innovation within New Zealand, under its R&D Growth Grant programme. Under the terms of the grant, Callaghan Innovation will reimburse, against monthly claims, 20% of eligible R&D expenditure incurred by RBL on the REX 3 project over a three year period commencing on 1 July 2014. The Company estimates that the total contribution towards the cost of the REX 3 programme during the funding period could exceed NZD1.5 million (£0.75 million).



Commenting on today's announcement, Jeremy Curnock Cook, Chief Executive of Rex bionics said: "We are delighted to be the recipients of this award from Callaghan Innovation, and I would like to take this opportunity to thank the New Zealand Government for its continuing support for Rex Bionics and the remarkable REX technology. The additional funding will be a significant boost for our REX 3 programme, underpinning the creation of new jobs at our operation in Auckland and helping to ensure that we deliver the next generation of REX exoskeletons to our international markets at the earliest opportunity."





6 Aug Beaufort... N/A Speculative Buy
5 Aug Oriel... 335.00 Buy

Rex Bionics looking to take giant steps with robotic exoskeleton

By Giles Gwinnett

August 18 2014, 10:53am


Recently AIM listed Rex Bionics (LON:RXB) may be a small, emerging medical technology company, but management reckons its product represents a giant leap for mankind.

It has developed REX - the first commercially available hands-free robotic exoskeleton - which allows victims of spinal cord injury to get out of their wheel chairs, stand upright and move around.

The immediate focus is the spinal cord injury market but the offering could be used for other conditions where mobility is impaired.

Commercialisation is aimed firstly at rehab centres in the US and Europe - reckoned to be a £500 million plus market opportunity, and which could help thousands of people.

The massive scale opportunity, however, is the personal use market, where the group reckons 2.5 million people worldwide could benefit from a Rex device.

The emotional power of the firm's story is undeniable and Peter Worrall, chief financial officer, described the REX technology to Proactive as "life transforming".

"When you see somebody who's been in a wheelchair for ten years strap themselves in, press a little joystick and stand up, it's unbelievable," he said.

He cites the story of the bride's father who was able to use a REX to walk to the middle of the dance floor at his daughter's wedding to make a speech.

And Rex Bionics' website is full of such endorsements. There's the man who said REX has allowed him to walk before he reached 30 and comments from a woman who has turned a dream of walking again into reality.

The company has a colourful background, rooted in biotech expertise. Current chief executive Jeremy Curnock Cook, who will be replaced by Crispin Simon this autumn, is a former manager of the Rothschild Bioscience investment unit.

Curnock Cook created Union MedTech - an ISDX listed shell - in 2012, with a view to acquiring exciting medical technology which had hit funding difficulties, and bringing it back to the London market.

A serendipitous visit to a small firm founded by two Scottish engineers in Auckland, New Zealand, later that year, provided the opportunity he was looking for.

It had launched a prototype REX, sold a few, but not made any further progress. A deal was struck last October, whereby Union MedTech would buy 100% of Rex and raise money to invest in the business and move it to AIM, which it did on May 8 this year - renaming itself Rex Bionics.

Simultaneously, a successful placing raised £10mln at 180p a share, which more than doubled the group's market cap to £25.7mln on debut and underscored the interest shown by investors.

The proceeds of that fundraise will be used to scale up the manufacturing of the REX product, particularly the rehab version (there is also a personal use model), and to expand sales and marketing - already operating in the UK but not the States.

The cash, which Worrall says will see the company through to profitability - a point expected by analysts to come after the second half of 2016 - and for research and development.

What sets the REX device apart from the other two exoskeletons on the market, according to Worrall, is that it offers greater functionality as users do not need crutches with it.

To use the other devices, people need full use of their shoulders, which rules out a high proportion of people with spinal cord injury. Worrall says 80% of those with spinal cord injury could use REX, as opposed to 30% who can use competing devices.

As well as the psychological benefits, the medical importance of standing and moving around for wheelchair users cannot be downplayed, since it can prevent secondary complications such as sores and bladder infections.

Thus REX should be a straightforward sell to hospitals and rehab centres, says Worrall.

In the US alone, says Worrall, there are 550 accredited spinal injury units and around ten times that number of smaller centres.

The idea is that people who will inevitably spend time in rehab after such an injury, will come into contact with REX and hopefully will want to purchase one for home use later on.

Worrall also explains how a system is in place whereby US centres can charge users to use mobility aids such as REX, therefore the costs of buying the machines could be quickly recouped, if a number of users used it, for example, for an hour a day.

Since not many are currently produced, they are not cheap - at £90,000 in the UK and US$150,000 in the US.

So far 14 units have been sold but the IPO (flotation) money will allow production to be scaled up and the operation has just moved into a larger facility in New Zealand and recruited more staff.

Worrall said a big inflection point will be when the next generation model - REX 3 - gains regulatory approval in Europe and in the US. It is also at this point that it is hoped the big orthopaedic players will get interested in the product.

The company recently received grant funding from Callaghan Innovation, a New Zealand Government body responsible for the promotion of innovation within New Zealand, under its R&D Growth Grant programme.

Under the terms of the grant, Callaghan Innovation will reimburse, against monthly claims, 20% of eligible R&D expenditure incurred by RBL on the REX 3 project over a three years beginning on July 1 this year.

The company estimates that the total contribution towards the cost of the REX 3 programme during the funding period could exceed NZD1.5 million (£0.75 million).

At the moment a personal use model is registered for sale in the EU, while a rehab device has been approved for Europe and the US.

In its maiden half year results, Rex Bionics told investors it now has the firm financial platform on which to develop the business. Crispin Simon will take the helm in early October this year, when Curnock Cook will become deputy chairman.

Simon's CV speaks for itself. Since 2012, he has been a director in the government's department of business, innovation and skills and a non-executive director of the NHS Trust Development Authority.

He has worked at NM Rothschild, McKinsey, Rexam and Smith & Nephew and was chief executive of Biocompatibles International up to its sale to BTG Plc in early 2011 for £165 million.

Rex Bionics shares currently stand at 181.5p but broker Oriel reckons it could see that price rise to 335p by the end of the year. It has started coverage on the firm with a 'buy' stance.

"We anticipate revenues of over £3.2m in the period to March 2015 with estimated revenues of £11.0m the following year. With significant pent up demand for the device and the potential for health providers to save money we believe that the market will respond well to REX," said the broker.

Meanwhile, Equity Development said if all goes to plan, Rex Bionics could be trading at break-even in the second half of 2016 and after that CAGR (compound annual growth rate) pre-tax earnings for 2017-2022 could easily be more than 50%

New Rex Bionics CEO reveals he intends to buy shares


http://www.proactiveinvestors.co.uk/companies/stocktube/3149/new-rex-bionics-ceo-reveals-he-intends-to-buy-shares-3149.html

50% faller today



Trading Update

RNS


RNS Number : 1403A

Rex Bionics PLC

18 December 2014












This announcement is made in compliance with the AIM Rules for Companies, and is not intended to be published or distributed in or into the United States of America







Rex Bionics plc



Trading update



Key objectives for 2015 outlined



Rex Bionics plc (AIM: RXB), the pioneer of the REX Robot technology that enhances the mobility of wheel-chair users, provides an update on progress since the Interim Results on 5 August 2014 and sets out its key objectives for 2015. The period since the Company's IPO in May of this year has been one of intense activity across all aspects of the business, and although sales are currently materially behind market expectations, the Board remains confident about the Company's future commercial success.



Market update

The application of robotic technology for wheel-chair users in the Rehabilitation and home care settings is rapidly gaining traction, and we continue to believe that it offers a substantial and growing market opportunity. The benefits of standing and exercising are well-documented; and REX provides more practical and comfortable means of standing and exercising. More specifically, REX is the only product that does not require the use of crutches. This offers two critical advantages for wheel-chair users as well as healthcare providers and payers. First, it makes REX the only option for the large number of wheel-chair users for whom the use of crutches is precluded by the severity or level of their injury; and second, it offers REX users the freedom to use their arms and hands for work or recreational activities while in a standing position.



In line with the strategy outlined at the time of the Company's IPO, the Board expects that these important differentiating factors for REX will enable it over time to establish a significant market position. When, however, the price of a medical product runs into tens of thousands of pounds, most clinicians and providers require published evidence of a health benefit; and the generation of this data is now a high priority.





Sales and marketing activity

We have continued to expand our commercialisation activities and now have a number of potentially promising sales opportunities to develop in the UK, US and Australia and New Zealand; as well as earlier-stage opportunities in three other large countries. We have also made positively-received presentations at a senior level to the US Army and the US Veterans Affairs organisation - and the development of our US activities will be a priority into 2015.



On 9 December 2014 we announced an innovative collaboration with PhysioFunction, one of the UK's leading providers of specialist Neurological Physiotherapy and Rehabilitation Technology services, to enable PhysioFunction to offer Robot-Assisted Physiotherapy using the REX technology to its substantial customer base at fifteen physiotherapy clinics around the UK. Under the terms of the collaboration the Company will provide a REX to PhysioFunction in return for a share of the customer fees charged by PhysioFunction for each session with REX. PhysioFunction successfully completed a full programme of Robot-Assisted Physiotherapy sessions using REX in the first week of operation, and we will be further evaluating this business model.



REX continues to attract UK national media publicity and, increasingly, enquiries from personal injury claimants and their lawyers. We have been approached by a number of charities and individuals about providing a REX to their local rehabilitation unit.



We have invested in our global sales/marketing/business development team and now have optimal coverage in the UK and Australia/New Zealand. We intend to continue with our recruitment programme for commercial representation in the coming months, including expanding our direct representation into the US and seeking to expand our distributor representation in Europe, the Middle East and Asia.



Reference Centres and Clinical data

We have initiated a global Reference Centre programme with Rehabilitation Clinics in the UK (PhysioFunction in Northampton), the USA (Houston Methodist Hospital, Texas and James J Peters Veterans Affairs Medical Center, New York City), and New Zealand (Healthvision New Zealand, Auckland), and plan to continue to build this network to ten Reference Centres by the end of 2015. We intend that Reference Centres, led by neuro-rehabilitation opinion-leaders will offer Robot-Assisted Physiotherapy with REX, provide leadership in our clinical trial programme and offer an appropriate environment for user evaluation of REX for home use.



Pipeline

Rex Bionics is working across three continents with some of the world's leading research institutions in the field of control of a robot with non-manual control systems. In September, Jose Luis Contreras-Vidal, Professor of Electrical, Computer and Biomedical Engineering at the University of Houston, Texas, presented and filmed a working prototype of a mind-controlled REX at a scientific conference in Spain which showed how REX's superior stability and safety makes it an ideal choice for therapies designed for people with the most severe disabilities.



In line with our plan, we are working on a number of other enhancements to the current REX product that are intended to further increase its therapeutic effect and to provide access to new categories of users. These include in-built electrical stimulation technology, user performance data analytics and a number of new country registrations.



Manufacturing

As outlined at the time of the IPO, the Company's manufacturing operations in New Zealand have been relocated to a new facility near Auckland in order to create production capacity for expansion and this is now available to meet current demand. A full validation of all manufacturing systems is required and work is underway to complete this for all products by the middle of 2015.



Trading update

For all of the reasons above the Board continues to have confidence in the Company's future commercial success. It has, however, become increasingly clear that, despite professional and focused effort in target markets, the sale of REX on commercial terms and on any scale to healthcare institutions requires clinical data on the health benefits, as distinct from, albeit very positive, wheel-chair user feedback. As described below we are taking steps to generate as rapidly as possible the clinical data required to support the clinical and quality-of-life benefits that we believe REX can deliver, but this will take some time. We now expect, therefore, that sales in the period ending 31 March 2015 will be only a nominal amount, with some improvement in the first half of our 2015/16 fiscal year (April-September period), and with a stronger growth trajectory starting towards the end of the 2015-16 fiscal year.



The Company's cash position at 30 November 2014 was £5.8m. Excluding expenditure of a one-off nature relating to the IPO, cash consumption in the last six months has amounted to approximately £2.6m.



Key objectives for 2015

The Board has established a set of Key Objectives for 2015, outlined below, for completion by March 2016 to coincide with the financial year-end. These are as follows:



1 Implementation of clinical trials whose results will persuade the rehabilitation community of the clinical benefit and value-for-money of REX. We expect the first of these trials to be initiated early in 2015.



2 Implementation of a US Clinical Trial, to secure FDA 510(k) clearance of REX for At-Home use in the USA. We have brought this programme forward in view of the quality and size of the opportunity. Our aim is to file a pre-market notification (510(k)) with FDA before the end of Q2 2016. A favourable review could then lead to clearance for At-Home use in late 2016. The first significant milestone in this programme would be approval by FDA of an Investigational Device Exemption (IDE) for the start of this trial.



3 Evidence of progress with other projects that demonstrate the value of REX in accelerating the rehabilitation of patients who have experienced other traumatic or degenerative neurological injury. This potential application is at least as large as the market for people with spinal cord injury.



4 The recruitment of further Reference Centres in order to achieve our target of ten Reference Centres by the end of 2015.



5 The recruitment of distribution partners and other commercialisation initiatives.









Crispin Simon, Chief Executive, commented:"REX allows people in wheel chairs to stand and to walk, which creates many health and quality of life advantages. Now we need to turn this remarkable technology into a really valuable, high performance business. Based on the positive feedback to date from the marketplace, and with the plans we have now put in place, I have every confidence that we can."

Who Should Attend?Date:

Wednesday 29th April 2015

Venue:

Novotel Tower Bridge, London EC3N, 10 Pepys Street, London, EC3N 2NR

Event Timings:Sponsored by:

Oh dear, what reads like mobility for the disabled and plans for UK and America has seen its sp fall from over £1 to a few pence...and the latest RNS shows the shares will be de-listed on AIM...from 30May2017 9 DYOR ).
I noticed this Co only from the dramatic fall in sp as punters realise the game is up....

One wonders if similar technology shouldn't be Gov-sponsored....rather like University Research, thereby leaving manufacture to a delivered price basis. i.e. the small company is responsible for keeping things "on-track" so they don't have the bigger headaches...? If folks paid over £1 for a nascent/tiny AIM business . . . . what can one say?
Sadly small companies have massive overheads and small profits in percentage-terms compared with large companies.

I just hope the [RXB] technology really did work, thereby benefiting their customers/patients.