My buddy and amazing designer Mark Sanders turned me onto this bike via his Twitter. Designer Dominic Hargreaves' Contortionist Bike folds into its two 26" wheels in under 20 seconds. Not as elegant as Mark's IF Mode but if rumors about production models starting at $700 are true, it's far more affordable.
This is just a non functional design prototype; there were no chains nor brakes! Perhaps we will see a working revision in future; however, I doubt it, it is just a students vision more focused on design than functionality.
Greetz Alexander