TIDMRXB
RNS Number : 2334O
Rex Bionics PLC
05 August 2014
5 August 2014
Rex Bionics Plc
("Rex Bionics" or the "Company")
Appointment of Crispin Simon as Chief Executive Officer
Rex Bionics Plc (AIM: RXB), the developer and manufacturer of
hands-free robotic exoskeletons for use by wheelchair users, today
announces the appointment of Crispin Simon as Chief Executive
Officer.
Crispin, who has a 25-year track record in industry with
significant success in a number of sub-sectors of healthcare
including medical technology and medical devices, will formally
join the Board of Rex Bionics as Chief Executive Officer in early
October 2014. On the date of Crispin's appointment, Jeremy Curnock
Cook, currently Chief Executive Officer, will assume the role of
Deputy Chairman.
Following a career which included working at NM Rothschild,
McKinsey, Rexam and Smith & Nephew, where he was latterly
President of the Endoscopy Division, Crispin Simon was Chief
Executive of Biocompatibles International Plc ("Biocompatibles")
until its sale to BTG Plc in early 2011. At Biocompatibles, he led
a team that developed three medical products businesses: the
Cardiovascular Stent business, sold to Abbott Laboratories for
GBP145 million; the Contact Lens business, sold to Cooper
Industries for GBP80 million and the drug-eluting bead business,
which was sold as part of the disposal of the whole company to BTG
Plc for GBP165 million. In addition, GBP123 million in cash was
returned to shareholders.
Since 2012, Crispin has been a Director in the UK Government's
Department of Business, Innovation and Skills. Crispin is a
Non-Executive Director of the NHS Trust Development Authority and a
trustee of Alive and Kicking, an African social enterprise.
Crispin joins Rex Bionics at a period of intense activity, which
has seen the Company transfer to the AIM market, raising
approximately GBP10 million in gross funds to expedite the
international build out of sales and manufacturing for the REX
technology. Since its transfer to AIM, Rex Bionics has already
hired key executives to scale up its manufacturing and sales
capabilities, opened a new sales office in the UK and has begun
targeting the rehabilitation market in the UK, Europe and Australia
and New Zealand.
Jeremy Curnock Cook identified the REX technology as an
acquisition for Union Medtech Plc, an investment vehicle founded in
2012 in order to pursue opportunities in medical technology, then
led the project which brought Rex Bionics Plc to AIM via an IPO in
May this year and has been instrumental in driving the strategy for
Rex Bionics as a public company. Jeremy also currently serves as
Chairman of US listed AmpliPhi Biosciences Corporation and is
Managing Director of Bioscience Managers, a Melbourne-based life
sciences investment firm.
Crispin Simon's appointment follows a number of key hires by Rex
Bionics as it expands its senior management team. Rex Bionics has
recently recruited two further senior executives, Tracey White and
Michael Heath, as General Manager of Rex Bionics Ltd and Director
of Manufacturing respectively. Tracey and Michael both joined the
Company in July 2014 and will be based in Auckland. Tracey has a
background in sales & marketing and finance and general
management. She was most recently General Manager of Siemens
Healthcare in New Zealand. Michael is a manufacturing executive
with extensive experience of working in high technology engineering
industries, including robotics. His most recent role was at
Bombardier in Belfast manufacturing aircraft fuselages.
Dominic Crispin Adam Simon, aged 56, has also in the last five
years been a director of TDeltaS Limited and OBS Medical Limited.
Other than set out in this announcement there is no additional
information under Schedule 2, paragraph (g) of the AIM Rules for
Companies which needs to be disclosed.
David Macfarlane, Chairman of Rex Bionics, commented: "I am very
pleased to welcome Crispin Simon to the Rex Bionics team where his
expertise will be invaluable in helping to take the Company to the
next phase of its growth. I would also like to thank Jeremy Curnock
Cook for his leadership over the past year, during which time he
has overseen the transition of Rex Bionics to the AIM market and
put in place the commercial and operational foundations for the
Company. Rex Bionics now has the capacity to make a significant
impact internationally and revolutionize the lives of people who
use wheelchairs."
Jeremy Curnock Cook, Chief Executive Officer of Rex Bionics,
commented: "Crispin has an outstanding track record within the
healthcare sector and has managed businesses at all stages of their
development. He is one of the few people I know who has insight
into the dynamics of medical technology businesses coupled with the
strategic understanding of the opportunities to market products and
services across the world.
"Having worked with Crispin when I was Chairman of
Biocompatibles, I am delighted that Rex Bionics has been able to
attract an executive of Crispin's calibre. We look forward to
welcoming him to our expanding team as we continue to scale up our
manufacturing and commercial activities."
Crispin Simon commented: "I am excited to be joining the Company
at a time when REX is embarking upon the commercialisation of its
product. I look forward to working alongside the rest of the team
as the Company fosters a broader understanding of the benefits of
this unique medical technology which can significantly improve the
quality of life and freedom of wheelchair users."
---
For further 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 and Broker)
Juliet Thompson/Jonathan Senior/Giles Balleny
+44 (0) 20 7710 7600
Consilium Strategic Communications
Mary-Jane Elliott / Emma Thompson / Jessica Hodgson / Lindsey
Neville
rexbionics@consilium-comms.com
+44 (0) 203 709 5708
About Rex Bionics
Rex Bionics (AIM: RXB) is an AIM-listed developer and
manufacturer of hands-free robotic exoskeletons for use by people
with mobility impairments. Founded in Auckland, New Zealand by two
robotics engineers with first-hand experience of wheelchair users
and their needs, Rex Bionics focuses on products designed to enable
wheelchair users to stand and walk autonomously without the need
for crutches or supports and is the only company to produce
hands-free walking devices for wheelchair users. Rex Bionics'
marketed products: REX Rehab and REX Personal, can be used by
people with complete spinal cord injury, but also by a much broader
potential customer base, including people with multiple sclerosis
and muscular dystrophy. In May 2014, Rex Bionics joined AIM with a
fundraising of GBP10 million (gross) to scale up production,
distribution and marketing internationally, in order to support
growing demand for both REX products as well as developing the next
generation of REX devices, REX 3. For more information please visit
http://www.rexbionics.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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