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Rex Bionics PLC inks US Army deal

The agreement is a precursor to design modifications to the mobility system to allow it be used in this way.
Rex Bionics PLC inks US Army deal
The Rex mobility aid may be used to help rehabilitate American soldiers.

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Rex Bionics PLC (LON:RXB) has signed an outline deal with the US Army, which is looking to the use the company’s robotic exoskeleton to rehabilitate soldiers that have lost lower limbs.

The agreement is a precursor to design modifications to the mobility system to allow it be used in this way.

The Rex equipment, as well as helping the disabled walk upright, is being developed to aid physiotherapy for people with spinal cord and traumatic brain injury.

"We are delighted with this opportunity and the recognition of REX's unique design features,” said chief executive Crispin Simon.

“It is a strong start for our strategy to take REX into acute as well as chronic care management."

The terms of its tie up are covered in what’s called Materiel Transfer Agreement with the United States Army Medical Research and Materiel Command.

In the same release Rex made reference an announcement late last year by the US Department of Veterans Affairs.

The VA issued a national policy for the “evaluation, training and procurement” of the ReWalk Personal exoskeleton, created by Rewalk Robotics.

“The VA policy does not directly relate to the REX robotic mobility system,” Rex told investors.

“But the directors of Rex Bionics believe that there will be US veterans for whom the Rex system will be the only, or the preferred, option (for Soldier Members, with lower limb loss, for example) and that the VA announcement is therefore positive for the long-term prospects for Rex Bionics.” 

He said the equipment, after slight modifications, would be used on frontline field hospitals treating injuries sustained by roadside bombs.

Simon also added that he would not rule out a collaboration with other developers.

Share price was down 8% to 40.00p.

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December 08 2015

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