Firm Advises Rex Bionics on AIM Fundraising

10 Aug 2016

International law firm Simmons & Simmons has advised Rex Bionics Plc, the pioneer of the REX Robot technology that enhances the mobility of wheelchair users, on its AIM fundraising.

The fundraising is intended to sustain commercial momentum during a strategic re-positioning of the company and review of further funding opportunities. The fundraising includes a new investment in the company by Maxhealth Medicare Co. Ltd of China. The company also announced a new agreement with Dubai-based Amana Healthcare Care.

Simmons & Simmons has advised Rex Bionics since 2013, advising its predecessor Union Medtech plc on its £25.7m admission to AIM in May 2014 and immediate acquisition of Rex Bionics.

Commenting on the fundraising, corporate partner Charles Mayo, said: "Market conditions for life sciences companies are challenging. We are very pleased to have used our life sciences sector expertise and understanding of Rex Bionics’ objectives to help it successfully to complete this fundraising in challenging market conditions."

Crispin Simon, the Rex Bionics CEO, said: "Charles Mayo and the team from Simmons & Simmons supported us throughout and were always there with practical advice when we needed it. We were especially impressed with the integration of the input from the UK and Beijing".

The Simmons & Simmons team was led by Charles Mayo supported by associate Ed Nisbet and assisted by US securities law partner, Julian Perlmutter and trainee Yeji Lee. Beijing-based partner Davis Wang and managing associate Melody Yang, and UK-based Lucia He, assisted with the People’s Republic of China aspects. The team worked in conjunction with the Rex Bionics company secretary, Keith Robinson, of Sherrards Solicitors. 

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