News & Views

Sherrards help REX Bionics AIM for global success

Those of you who caught the special edition of the BBC Horizon programme “The £10 Million Challenge” will be aware of the Longitude Prize 2014 and its role in trying to find solutions to six of the world’s most pressing problems, namely: antibiotic resistance, global warming, dementia, paralysis, clean water scarcity, and rising malnutrition.

Sherrards Solicitors’ Head of Corporate Finance, Keith Robinson, was an integral part of the legal team that helped one of the company’s featured in the programme (Rex Bionics) to raise finance through a listing on the Alternative Investment Market of the London Stock Exchange.

Legal advisers to Rex Bionics

Rex Bionics: creating life-changing technology

Rex Bionics, a New Zealand company that creates life-changing technology for those affected by paralysis, went through a complex process, steered by Keith and other legal firms, of being acquired by Sherrards’ client Union MedTech plc, and then floated on AIM to become a publicly listed company (Rex Bionics plc), raise £10 million, and achieve a market value of £25.7 million.  A job well done that sets Rex Bionics on the right road to take its creations to a global market!

If you’re wondering what exactly the clever people at Rex Bionics have invented, well, their REX device is the world’s only commercial, hands-free robotic exoskeleton for use by wheelchair users. It is playing an important role in restoring motor function in people with paralysis.

We can’t think of a more worthy potential winner of the Longitude Prize than the geniuses who work at Rex Bionics plc . Please play your part by voting for paralysis as the challenge that should be awarded the prize money. Voting closes on 25 June!

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