Rex Bionics: Interim Results for six months ended 31 May 2014

5 August 2014. Link here.

Rex Bionics Plc
(“Rex Bionics” or the “Company”)

Maiden Interim Results for the six months ended 31 May 2014

5 August 2014, Rex Bionics Plc (RXB) (formerly Union MedTech Plc) the AIM-listed developer and manufacturer of hands-free robotic exoskeletons for use by wheelchair users, today announces its maiden unaudited results for the six months ended 31 May 2014.

Highlights:

Financial:

Operational:

Post period-end highlights:

Commenting on the announcement, David Macfarlane, Chairman of the Board, said: “The successful completion of Rex Bionics’ transfer to AIM in early May and the simultaneous completion of our acquisition of Rex Bionics Ltd was a transformational event for the Company. The funds raised have enabled us to advance our commercialisation strategy and commence the scale-up of manufacturing plans. We have already seen an exceptional level of interest internationally in the REX technology and I am delighted to see this being translated into the advanced discussions we are having regarding the first sales of REX Rehab since the time of the IPO.  Based on the progress achieved to date, I believe we have good reasons to be very optimistic about the future.

“At this time I would again like to welcome Crispin to the Company as CEO in October and I would also like to take this opportunity to thank Jeremy Curnock Cook once again for his leadership and the commitment he has made to the Company to date. I am delighted to be working with both of them as we embark upon the next phase of our growth and continue our efforts to bring the unique benefits of REX to an increasing number of wheelchair users around the world.”

For more information, please contact: 

Rex Bionics Plc

Jeremy Curnock Cook, Chief Executive Officer
+44 (0)7802 268634
Peter Worrall, Chief Financial Officer
+44 (0)1428 645416

Oriel Securities Limited (NOMAD)

Juliet Thompson/ Jonathan Senior/ Giles Balleny

+44 (0) 20 7710 7600

Consilium Strategic Communications
Mary-Jane Elliott / Emma Thompson / Jessica Hodgson / Lindsey Neville
+44 (0) 20 3709 5708