12th Oct 2015 10:24
LONDON (Alliance News) - Rex Bionics PLC Monday said it was making progress with the commercialisation of its product, a robotic exoskeleton for wheelchair users, and appointed Ri LLC as its distribution partner in the US.
The company said it had sold three units during the half year to end-September, its maiden sales since it listed on AIM. It has further orders "in hand", the company said, and it expects sales in the second half to be higher than sales in the first.
Chief Technology Officer and Co-Founder Richard Little has indicated he plans to resign to develop a new business in a non-competitive field, Rex said, although he will continue to act as a consultant for the company. Director of Engineering Duncan Clement will continue to lead the company's research and development group.
Elsewhere, the company's Robot-Assisted Physiotherapy Exercises clinical trial with Rex is making "good progress", it said. The company is "encouraged" by an interim analysis of the results from the first 20 volunteers.
Shares in Rex are untraded Monday morning at 50.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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