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Rex Bionics CFO to retire in 2017

Rex BionicsRex Bionics, a developer of exoskeletons, announces that it has been informed by its CFO, Peter Worrall, of his intention to retire and to step down as a director on March 31, 2017.

Mr. Worrall was previously CEO of Pharminox Limited, a company focused on the discovery and development of drugs to treat cancer.

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Mr. Worrall was Corporate Development Director of Vernalis plc, a company formed from the merger of British Biotech plc and Vernalis Group plc (formerly Vanguard Medica Group plc).

Mr. Worrall joined Vanguard as Chief Financial Officer in 1993 as a venture capital backed start-up company, and saw it through a number of private and public funding rounds, including its IPO on the Main Market of the London Stock Exchange in May 1996, as well as the acquisition of Cerebrus Ltd in late 1999.

He became acting CCEO in early 2003, and led the merger discussions with British Biotech later that year.

In 1981 Mr. Worrall joined Imed Ltd, a manufacturer of intravenous infusion pumps, initially as Financial Controller, becoming Finance Director and subsequently General Manager.

In 1988 Mr. Worrall established his own company, Isys Medical Ltd, as the vehicle for a management buy-out of Imed’s UK manufacturing and R&D operations and ran Isys for three years before selling out to Danby Medical Ltd, a venture capital backed infusion pump company, which he joined as Finance Director. Danby was sold to Baxter Healthcare in 1993.

Mr. Worrall received a Masters degree in economics from the University of St Andrews in 1977, and qualified as a chartered accountant with Arthur Andersen & Co in 1980.


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