Gold or Silver
25 May 2018
Re: Of Interest CONFIDENTIAL Update for Rex Bionics PLC SHareholders May 8, 2018Rex Bionics continues to make strides towards our market development activities in the key countries of the US, UK, AU and NZ as well as working towards the launch of REX in China. The company also continues to work toward a next product design that incorporates more of the specific needs of in patient rehab in stroke.In the US we have continued to make progress on our target list of customers identified to aid in maret development, and have recently received approval for extended clinical demonstrations at Columbia University and Mt Sinai Hospital in New York. We are awaiting approval at the Bronx VA. We have also completed product demos at other sites that will likely result in orders. Once devices are in these centers we plan to develop a clinical trial in stroke patients using the knowledge of these experts in designing and carrying out that clinical trial.In Australia we have been making good progress in the AIN clinical trial, the HELEN Project. We have also made progress with NeuroMoves in Sydney and are looking to future collaborations with them on clinical research that we hope to get grants to fund. We have multiple demonstrations set up and have just completed a big training round and have another one scheduled for June.In the UK we have been making great progress on RAPPER III, our multiple sclerosis clinical trials in East Kent with Dr. Mo Sakel. The data from the first phase was very encouraging and we hope to have final ethics committee approval for the next phase, RAPPER IV, in late May and enrolling patients in June. The paper from the first phase is being finalized and submitted for publication and has been submitted to ACRM for presentation in the fall.We have also finalized the final clinical paper for submission from the RAPPER II study. Again the results are very favorable and we are excited to get the paper published.We are very excited about the progress we are making with the Chinese FDA towards approval of REX in China. We had a panel meeting in October and received questions at the beginning of the year that are in the process of being finalized. We hope to have the final approval by the 3rdquarter and will begin commercialization at that point. We see the Chinese opportunity for the current REX as one of the most important opportunities for us and are focusing resources on that.We have also continued to make progress on the new product development. Working with McLaren we are coming up towards the end of the concept development phase and are spending time evaluating the concept as we make decisions on moving forward the design with our internal team supported by outside expertise provided by McLaren and others. We are excited about the quality of the thinking and work that has gone into the process that will result in a great next product for the company. To support those effort the company has hired a new VP of Research and Development and Manufacturing who will start at the beginning of June. This person has deep medical device development experience and will be very helpful in guiding the team in New Zealand to success on the new product development.We continue our efforts to constantly improve the company’s overall processes and procedures and are working towards meeting new regulatory standards that have been introduced that we must meet with the current product. The team is working diligently on tehse alongside meeting the requirements for CFDA, all of which continues to make Rex a stronger company and stronger future competitor in the field.Regards,Chuck
Gold or Silver
09 Sep 2017
Wait Rex Bionics has been thrown an A$10 million (NZ$10.8m) lifeline by Australian fund manager BioScience Managers in exchange for control of the New Zealand robotics firm listed on the London Stock Exchange's AIM market.Shareholders will vote later this month on whether to approve a deal that would pour the company's business and assets into its Australian subsidiary, which would then sell A$7.5m of shares to BioScience, lifting the fund manager's stake to 64 per cent, Rex said in a notice to the London Stock Exchange. BioScience would also commit to a further investment of A$2.5m if certain targets were met, in a rights issue that the existing Rex investors could participate in.The second part of the transaction would see Rex sign a two-year development agreement with McLaren Applied Technologies, a unit of the luxury car maker McLaren Group, to design the next phase of the Rex product in an effort to reduce the cost of making the exoskeletons which help wheelchair-bound people walk. McLaren would be issued warrants to help pay for its services, which could dilute existing Rex shareholders down to 29.2 per cent.In March, Rex said it would probably need external funding to keep operating after struggling to raise capital to pay for a prototype of the new product. The directors yesterday said if the transaction isn't approved the company won't be able to pay its debts and will have to stop operating or kick off an insolvency procedure immediately, which would wipe out shareholders' entire equity investment.We are pleased to have signed these agreements which will enable the continued development of the Rex technology," chairman David Macfarlane said. "Rex has made a lot of progress in respect of product quality, clinical data and user satisfaction across a range of neurological conditions, and I warmly thank our shareholders, how have made this possible."The directors indicated they will vote their shares, representing 3.9 per cent of the company, in favour of the transactions at the meeting to be held on May 22.The New Zealand Venture Investment Fund, a shareholder in Rex, declined to comment on whether it would support the deal.Rex has been a beneficiary of Callaghan Innovation funding, receiving research and development grants totalling $2.9m before it listed in 2014 with a condition that production stayed in New Zealand until 2017.Callaghan chief financial officer Richard Perry said the restructure means the Crown entity will look at whether Rex is still eligible for a grant."In general, in these situations, if the company continues to undertake New Zealand-based R&D, and retains benefits to New Zealand, the grant payments can be resumed," Perry said.
Gold or Silver
26 May 2017
Of Interest LONDON (Alliance News) - Rex Bionics PLC on Friday said Hunter Hall Investment Management Ltd disposed of its entire stake in the business on Wednesday.The shareholder did have 3.8 million shares in the London-listed company, but now has nil.Rex Bionics shares closed down 80% on Friday at 0.50 pence.On Friday, the company completed a restructuring that will leave it operating as a cash shell and delisting from AIM, transferring its business and assets into its Australian subsidiary.Perhaps a reappearance in Australia is proposed.Good luck Hinkais et AlAnd May
Gold or Silver
04 May 2017
Re: Excellent News New valuation of 30p is now upon us.As £1 million for 10% seems to be most likely .Let`s hope it stays on the AIM Market and we watch the shareholders funds Soar .Good luck AllAnd May
Gold or Silver
03 May 2017
Excellent News I am glad this company has been saved and the new dawn .Should provide the poor shareholders with handsome returns from here .Well done AllAnd May
Gold or Silver
01 Apr 2017
Boom or Bust All depends on IF a deal is negotiated by the Rex BOD .Past performance doesn`t bode well .That said.Every dog has his day .+ or - , you decide .Good luck AllAnd May
wanting_to_know
11 Aug 2015
"Change of holdings" RNS one II now holds ~14%but just look at the delay in Notification ... ~7 WEEKS
Alfredo11
04 Jan 2015
Have taken a small position in this company. Shareprice is rockbottom,and I believe that the product has a market. Working with Stroke patients; I understand the situation first hand. This has BlueSky potential,and when properly marketed,and having leader advantage makes it a no brainer. My target is double by the end of this year.
