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Rex Bionics PLC sales on track; short term focus to be US and China

Traction in the States, underlined most recently by interest from the US Army, means the company will direct its limited resources at the world’s largest market.
Rex Bionics PLC sales on track; short term focus to be US and China
The revolutionary exoskeleton allows the disabled to walk upright.

Rex Bionics PLC (LON:RXB), the maker of robotic exoskeletons that help the disabled walk upright, reiterated sales guidance as it narrowed its near-term focus to the US and China.

The company, which is also markets its REX device for use in physiotherapy, expects to ship four units in the second half compared with three in the first six months of the financial year.

Traction in the States, underlined most recently by interest from the US Army, means the company will direct its limited resources at the world’s largest market.

It will also support the registrations in China where an initial training programme has been concluded.

That said, sales enquiries in other territories will ‘pursued’, Rex added.

Chief executive Crispin Simon told investors: "Most people who see a robotic exoskeleton immediately grasp its value and its potential to transform lives.

“We have delivered commercial sales, clinical evidence and new partnerships, and are especially pleased with the agreement we announced last week with the US Army.

“Our goal is to be the market leader in this exciting new technology.”

In the same announcement, Rex said recruitment for its RAPPER II clinical trial is progressing well.

A total of 31 volunteers have been recruited to date, and two new trial centres, the Royal National Orthopaedic Hospital in Stanmore, UK and Austin Health's Royal Talbot Rehabilitation Centre in Melbourne, Australia.

Robot-Assisted Physiotherapy Exercises with REX (RAPPPER II) is a trial to evaluate the safety and feasibility of a set of customised exercises performed in a REX unit.

The involvement of some of the world's leading neuro-rehabilitation clinics in the process represented a “valuable endorsement” of the technology, the firm said. 

WinterGreen Research reckons the market for robotic exoskeletons for medical applications is poised for significant growth, with global sales forecast to reach $2.1bn by 2021.

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Rex Bionics PLC Timeline

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March 11 2016
Big Picture
December 08 2015

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