Bionik Laboratories Reaches Milestone with Shipment of 250th Interactive Robotic Therapy System for Patient Rehabilitation
Company's robotic solutions contributing to care of neurological disorders in 20 countries and more than 200 hospitals
TORONTO and BOSTON, April 25, 2017 /PRNewswire/ -- Bionik Laboratories Corp. (OTCQX: BNKL) ("Bionik" or the "Company"), a robotics company focused on providing rehabilitation and mobility solutions to individuals with neurological and mobility challenges from hospital to home, announced today it has shipped its 250th interactive robotic therapy system, an important milestone as it continues to penetrate the rehabilitation industry and bring its innovative technology to a broader patient-base.
Bionik's robotic solutions are currently providing effective and affordable patient care with respect to treatment of neurological disorders in 20 countries and in over 200 hospitals. Bionik has seven robotic products, of which three are FDA-cleared and in the market globally, and four products that are in various stages of development. Its InMotion ARM, InMotion HAND, and InMotion WRIST interactive robotic therapy systems sense a patient's movement and respond to a patient's continually-changing ability, all in real time.
"We are excited to reach this milestone as a company and to bring our robotic systems into medical facilities to provide innovative rehabilitation solutions for patients across the country," said Michal Prywata, co-founder, chief technology officer and director of Bionik Laboratories. "Neurological disorders afflict millions of people each year, but current physical therapy methods are simply too limited to help patients regain the mobility they have lost. We believe our robotic systems offer the best in patient care and our continued penetration into the market showcases that."
Neurological disorders affect a person's brain, spine, or nerves and can be characterized by paralysis, muscle weakness, poor coordination, loss of sensation, and a number of other symptoms. A major cause is stroke – approximately 15 million people suffer from stroke each year – with one third remaining permanently disabled in some form. Other instances of injuries occur from traumatic events such as car accidents or battlefield injuries, leaving patients with partial or full paralysis.
"Medical treatment options are changing as technology continues to evolve. Bionik is at the forefront of a shift in the way neurological disorders are managed, utilizing robotics, artificial intelligence, and real time data and analytics to provide a significantly enhanced form of patient care," Prywata continued. "With our InMotion systems and additional products in development, we feel that the Company is uniquely positioned to revolutionize the industry and become the standard of rehabilitation care."
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.
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.
Released April 25, 2017