REX Bionics

www.rexbionics.com/ TICKER: RXB     EXCHANGE: L

REX Bionics has developed a world's first: a Robotic EXoskeleton, or REX, that offers spinal cord injury victims a chance to walk. RXB aims to commercialise REX through an immediate focus on rehabilitation centres, with a version for personal use to launch in 2016.

LATEST REPORTS

 
Stepping up the pace to get clinical data
Published: Jan 12 2015

REX Bionics (RXB) has developed a world's first: a Robotic EXoskeleton, or REX, that offers spinal cord injury victims a chance to walk. RXB aims to commercialise REX through an immediate focus on rehabilitation centres. 
A recent trading update issued by the recently appointed CEO, Crispin Simon, highlights great market enthusiasm for REX but the need for supporting clinical data in order to close the sale. The company is bringing forward its plans to generate that data by ~12 months, and is setting up a worldwide network of centres (in the UK, US & New Zealand) to perform controlled user trials to generate the required data.
Our DCF analysis of RXB suggests a fair value of ~£30m. However, solid progress with implementation of the new operational objectives for REX suggests a potential value up to £40m.
 
Taking the right steps
Published: Aug 05 2014

REX Bionics (RXB) has developed a world's first: a Robotic EXoskeleton, or REX, that offers spinal cord injury victims a chance to walk. The potential markets for REX are huge: there are  2.7m wheelchair users in the US (50% of which are caused by spinal cord injury) and a similar sized market in Europe.
With its maiden Interim results today, REX Bionics has announced the appointment of Crispin Simon as new CEO of RXB, with effect from October. This appointment is a major coup for the company as Crispin brings a 25-year track record in industry with significant success in a number of sub-sectors of healthcare including medical technology and medical devices: he was Chief Executive of Biocompatibles International until its sale to BTG Plc in early 2011.
The Rex product has enjoyed huge coverage in the UK press and on TV, notably on the BBC horizon programme introducing the very high profile £10 million Longitude prize. The next stage is to convert this favourable publicity into sales. 
 
one giant leap for mankind
Published: Jun 17 2014

REX Bionics (RXB) has developed a world's first: a Robotic EXoskeleton, or REX, that offers spinal cord injury victims a chance to walk. The potential markets for REX are huge: there are  2.7m wheelchair users in the US (50% of which are caused by spinal cord injury) and a similar sized market in Europe.
RXB IPO'd in May 2014, successfully raising £10 million gross (at 180p), giving the company the resources to market to the rehabilitation market: the company launched its device for this audience (REX Rehab) earlier this year, and with the funds raised, will now be launching a marketing campaign focusing initially on the US and European rehab markets.
The company also has plans to roll out a 2nd-generation Personal REX device for home or workplace use (REX 3 Personal) in the latter half of 2016.
Our DCF analysis of a successful commercialisation of REX suggests a business that could potentially be valued at up to £40m, against the current market cap of £26 million

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