Meian Pharma Acquires Rex Bionics to Unlock New Potential in Exoskeleton Rehabilitation Robotics

VCBeat has learned that on January 16, 2020, Maxhealth Medical Group and exoskeleton rehabilitation robotics company Rex Bionics announced at the J.P. Morgan Healthcare Conference that Maxhealth Medical Group would collaborate with overseas investors to establish MaxRex, an operating entity controlled by Maxhealth Medical Group, to acquire 100% equity interest in Rex Bionics, along with its global assets and intellectual property rights.

Maxhealth Medical stated, “Upon completion of the acquisition, MaxRex, as a domestic enterprise, will serve as the global entity for R&D, production, and operations of REX. Meanwhile, its overseas R&D and service centers will be retained. This transaction will unveil new prospects for rehabilitation medical technology in China and worldwide.”

Rex Bionics is an innovative company focused on the research, development, production, and commercialization of exoskeleton robots. Founded in 2008, by 2019, Rex Bionics had secured tens of millions of dollars in cumulative financing, significantly advancing the technological development of its Rex exoskeleton rehabilitation device. In 2016, Maxhealth Medical Group Co., LTD made a strategic investment in Rex Bionics and initiated collaboration in the Chinese market.

Exoskeleton rehabilitation robots are designed based on bionic principles and integrated with ergonomics, allowing them to be worn on the affected limbs. Each joint is equipped with an independent actuator, ensuring that the robot’s movement patterns are coaxial with the human body’s degrees of freedom after wearing, thereby enabling more effective rehabilitation training.

Currently, companies such as Rex Bionics, ReWalk Robotics, Cyberdyne, and Berkeley Bionics are at the forefront of the exoskeleton rehabilitation robot industry. The core product of Rex Bionics, the REX exoskeleton rehabilitation robot, is currently the only exoskeleton rehabilitation robot on the market that does not require crutch support.

(Provided by the company)

By eliminating the need for crutches, REX frees patients’ upper limbs and hands, allowing them to use their hands for work or other activities. For example, patients can safely perform relatively complex physical rehabilitation exercises while standing upright. Additionally, for patients with severe conditions who are unable to use crutches or provide hand support, REX becomes their only option.

According to the introduction, REX was designed in collaboration with clinicians and rehabilitation therapists to offer a variety of therapeutic exercises for the upper limbs, trunk, and lower limbs. It features both static and dynamic modes, making it suitable for early-stage rehabilitation training for stroke and paraplegia patients. Furthermore, REX serves not only as a rehabilitation tool but also as an assisted walking device, equipped with functions such as positioning and locomotion.

At the unveiling ceremony, Maxhealth Medical Group Co., LTD disclosed its development plans for new products. Previously, REX had obtained FDA and CE certifications, undergoing medical research and commercial launch in multiple countries including the United States, Europe, and Australia. To date, REX has provided rehabilitation services to thousands of patients and received positive feedback.

A major pain point of exoskeleton rehabilitation robots is their high cost. In response, Cheng Kaiming, Director of Investment and Business Development at Maxhealth Medical Group Co., LTD, stated, “Following the completion of the acquisition, Maxhealth will further leverage the respective strengths of China and overseas markets in product R&D, manufacturing, operations, and medical research to drive the continued development of REX technology and reduce costs. Through technological innovation and product upgrades, we aim to benefit more patients.”

Following the acquisition, Maxhealth Medical Group Co.,LTD. plans to initiate multi-center clinical trials in China and commence registration with the National Medical Products Administration (NMPA). Meanwhile, the company will establish a global network of medical and engineering experts to develop next-generation products, with new product launches expected by the end of 2020.

Maxhealth Medical, established in Wuxi in 2009, is a leading medical technology R&D, manufacturing, and commercialization platform in China, with subsidiaries or offices in Shanghai, Beijing, Hong Kong, London, Tokyo, and other locations. Driven by unmet real-world clinical needs, Maxhealth Medical integrates cutting-edge global advances in clinical science and promotes technological progress through multinational innovative R&D, thereby improving diagnosis and treatment to benefit patients.

Maxhealth Medical Group has partnered with numerous global healthcare innovation institutions and Fortune 500 pharmaceutical companies to carry out collaborative initiatives in China spanning R&D, manufacturing, market access, academic affairs, and product marketing, thereby successfully establishing a bridge for transnational medical technology research and development.