REX Bionics (RXB) has developed a world's first: a Robotic EXoskeleton, or REX, that offers spinal cord injury victims a chance to walk. The potential markets for REX are huge: there are 2.7m wheelchair users in the US (50% of which are caused by spinal cord injury) and a similar sized market in Europe.
RXB IPO'd in May 2014, successfully raising £10 million gross (at 180p), giving the company the resources to market to the rehabilitation market: the company launched its device for this audience (REX Rehab) earlier this year, and with the funds raised, will now be launching a marketing campaign focusing initially on the US and European rehab markets.
The company also has plans to roll out a 2nd-generation Personal REX device for home or workplace use (REX 3 Personal) in the latter half of 2016.
Our DCF analysis of a successful commercialisation of REX suggests a business that could potentially be valued at up to £40m, against the current market cap of £26 million