Chinese joint venture enables penetration into largest growth
market in the world
TORONTO and BOSTON, May 24,
2017 /PRNewswire/ -- Bionik Laboratories Corp. (OTCQX:
BNKL) ("Bionik" or the "Company"), a robotics company focused on
providing rehabilitation and assistive technology solutions to
individuals with neurological and mobility challenges from hospital
to home, today announced it has partnered with Ginger Capital
Investment Holding Ltd. ("Ginger Capital") to bring its
evidence-based interactive robotic systems to the Chinese
market.
The joint venture between the two companies will include an
exclusive license to sell Bionik's innovative robotic products in
China, including the Company's
InMotion ARM, InMotion HAND, and InMotion WRIST, which are all
interactive robotic products that assist the patients' movement as
they progress through their rehabilitation. Extensive clinical data
on more than 1,000 patients has demonstrated that the InMotion
robots provide more effective patient outcomes than traditional
manual therapy alone. The joint venture will also lead the China
Food and Drug Administration (CFDA) approval process for the
Company and its products.
Ginger Capital is investing $500,000 directly into the Company and
$1,450,000 into the JV to fund the
joint venture's operations in China. Ginger Capital is fully funding the JV
and highly confident of the success of the Company's clinically
proven products in China.
Ginger Capital is an experienced investment management company
with more than 10 years' experience in providing successful
commercial relationships between the
United States and China
with extensive relationships inside China and the Chinese health care system.
Bionik believes the $1,950,000
investment in the Company and the joint venture demonstrates Ginger
Capital's commitment to their success.
"I am excited that this joint venture provides Bionik's products
with access to the largest growth market in the world and I am
inspired by being chosen for our technical advancements and proven
technology. I am also proud of the achievement of our innovative
engineering and management teams," said Peter Bloch, CEO of Bionik Laboratories. "It is
through these types of partnerships that Bionik can significantly
increase its market penetration and revenues. In fact, due to the
serious international interest we have experienced, we are
currently negotiating additional strategic partnerships to expand
our distribution to other major international markets. Bionik's
intellectual property and know how is also expected to be utilized
in the emerging consumer robotic market. These initiatives are
expected to help accelerate the company's path to revenue and
provide tremendous opportunity for Bionik to position itself as a
leader in the emerging robotic industry. I am truly pleased with
the fact that American technology will make a global impact and
validate our capabilities and ultimately improve human mobility
globally."
Ms. Rita Jiang and Ms.
Jia Cai, Managing Partners of Ginger
Capital said, "We selected Bionik to partner with us as a result of
the strong clinical data supporting the efficacy of their products.
We are looking forward to working with the team at Bionik
Laboratories and to bringing their superior robotic solutions to
the Chinese market. Bionik's evidence-based products are truly
innovative and can provide improved patient care for millions of
people. We have established relationships for distribution in
China and the experience to
succeed with this exciting joint venture."
With a growing population of approximately 1.4 billion,
China has close to 2.5 million
incidences of stroke each year and 7.5 million stroke survivors,
compared to 795,000 strokes per year in the United States.
China presents a significant
market opportunity for Bionik to become the standard for patient
care, as medical professionals in the region seek innovative ways
to treat strokes and other neurological disorders.
"The 16 million new stroke patients globally each year is
expected to triple by 2050 and China represents a large percentage of those
patients. This rapidly growing human issue requires evidence-based
solutions like ours in order to effectively treat these patient
populations and return them to activities of daily living," said
Tim McCarthy, Chief
Commercialization Officer of Bionik Laboratories. "We are excited
about this partnership as it will significantly broaden access to
our evidence based solutions for stroke survivors and their
families, allowing them to live fuller and more independent
lives."
About Ginger Capital Investment Holding Ltd.
Ginger Capital Investment Holding Ltd. (GCI) is an independent
direct investment and management consulting group based in
Hong Kong. GCI invests in the
strategic development of promising medium-sized companies with
Enterprise Values of US$50 million to US$500
million that have substantial operations in US or
Asia and need capital for major
expansions, mergers and acquisitions, restructures, etc. having an
Asia-focus. GCI's major
management consulting focus is providing access to the Chinese
healthcare market – GCI has successfully established relationships
and partnered with major healthcare institutions across
China including research centers,
private and public hospital chains, and major clinics.
About Bionik Laboratories
Bionik Laboratories (OTCQX: BNKL) is a robotics company focused
on providing rehabilitation and mobility solutions to individuals
with neurological and mobility challenges from hospital to home.
The Company has a portfolio of products focused on upper and lower
extremity rehabilitation for stroke and other mobility-impaired
patients, including three products on the market and four products
in varying stages of development. The InMotion Systems — the
InMotion ARM™, InMotion Wrist™, InMotion Hand™ and InMotion
AnkleBot™ — are designed to provide intelligent, patient-adaptive
therapy in a manner that has been clinically verified to maximize
neuro-recovery. Bionik is also developing a lower-body exoskeleton,
ARKE™, designed to allow paraplegics as well as other wheelchair
users the ability to rehabilitate through walking. ARKE is designed
to continually adapt to a patient's ability and provide real-time
feedback to the physiotherapist.
For more information, please
visit www.bioniklabs.com and connect with us
on Twitter, LinkedIn and Facebook.
Forward-Looking Statements
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking
statements. Forward-looking statements may include, without
limitation, statements regarding (i) the plans and objectives of
management for future operations, including plans or objectives
relating to the design, development and commercialization of human
exoskeletons and other robotic rehabilitation products, (ii) a
projection of income (including income/loss), earnings (including
earnings/loss) per share, capital expenditures, dividends, capital
structure or other financial items, (iii) the Company's future
financial performance, and (iv) the assumptions underlying or
relating to any statement described in points (i), (ii) or (iii)
above. Such forward-looking statements are not meant to predict or
guarantee actual results, performance, events or circumstances, and
may not be realized because they are based upon the Company's
current projections, plans, objectives, beliefs, expectations,
estimates and assumptions, and are subject to a number of risks and
uncertainties and other influences, many of which the Company has
no control. Actual results and the timing of certain events and
circumstances may differ materially from those described by the
forward-looking statements as a result of these risks and
uncertainties. Factors that may influence or contribute to the
inaccuracy of the forward-looking statements or cause actual
results to differ materially from expected or desired results may
include, without limitation, the Company's inability to obtain
additional financing, the significant length of time and resources
associated with the development of our products and related
insufficient cash flows and resulting illiquidity, the Company's
inability to expand the Company's business, significant government
regulation of medical devices and the healthcare industry, lack of
product diversification, volatility in the price of the Company's
raw materials, and the Company's failure to implement the Company's
business plans or strategies. These and other factors are
identified and described in more detail in the Company's filings
with the SEC. The Company does not undertake to update these
forward-looking statements.
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SOURCE Bionik Laboratories Corp.