BIONIK Laboratories Selects Propel to Accelerate New Product Development and Manufacturing of InMotion Robotic Systems and Services
Propel to deploy its configurable cloud-based product success platform to enable BIONIK to accelerate time to market, ensure compliance, and increase productivity
TORONTO & BOSTON & SANTA CLARA, California--(BUSINESS WIRE)-- BIONIK Laboratories Corp. (OTCQB:BNKL) ("BIONIK"), 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 selected Propel, the product success platform built on Salesforce, to be its Product Lifecycle Management and Quality Management System solutions provider to accelerate new product development and manufacturing of InMotion™ products and services.
Propel, based in Santa Clara, California, offers an integrated solution that uniquely combines next-gen Product Lifecycle Management (PLM) and Quality Management System (QMS) on a single platform. Completely built on Salesforce, the industry’s top-rated SaaS platform, Propel helps companies compete in different market and regulatory environments, and deliver quality products to market faster — all while reducing costs. BIONIK expects that Propel will help extend the definition of product success from concept to customer by configuring and deploying a secure, flexible, and compliant platform designed to enhance the delivery of BIONIK’s key offerings, such as its InMotion™ robotic devices and InMotion Connect™ software platform.
Over the past two years of growth, BIONIK has reimagined its portfolio of products, software, and data-management solutions. BIONIK sought to collaborate with a technology partner who is a leader in getting new products from the lab to the clinic. Propel’s modern cloud-based product lifecycle and quality management solutions is expected to enable BIONIK to quickly introduce its robotic systems and capabilities to accelerate and enhance its commercial agility. BIONIK provides industry-leading therapeutic solutions through its suite of InMotionTM robotic devices and InMotion ConnectTM data solutions.
“Moving forward, we want to ensure our teams can efficiently bring products and solutions from concept to commercialization,” said Malcolm Bock, VP Engineering, BIONIK. “We chose to partner with Propel for our product lifecycle management solution due to their extensive track record of developing configurable cloud-based PLM and QMS systems for the healthcare sector that are compliant within the highly regulated medical device environment, enabling high quality products and efficient service and maintenance. In addition, we believe that this will help us work more efficiently with our contract manufacturers and partners as we continue to grow.”
“We are excited to work closely with BIONIK to meet their product lifecycle and quality management requirements,” said Dario Ambrosini, Chief Marketing Officer, Propel. “Our highly configurable and collaborative platform will connect PLM and QMS with their CRM system, enabling a true closed feedback loop to manage product realization, quality processes, and customer feedback.”
Propel helps companies achieve product success by connecting the people, systems, and processes needed to deliver products from concept to customer. Our configurable platform is the single source of product truth for your entire value chain, including sales, service, and partners. Secure and transparent collaboration enables you to get products to market faster while maximizing customer satisfaction and meeting local requirements needed to compete globally.
Propel is built on Salesforce, the industry's top-rated cloud SaaS platform, and our solution incorporates all the capabilities of its modern cloud infrastructure. Salesforce's multi-tenant architecture is future-proof, ensuring Propel will always be the next generation product success platform. For more information, visit www.propelplm.com.
About BIONIK Laboratories Corp.
BIONIK Laboratories 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 three products in varying stages of development.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "should," "would," "will," "could," "scheduled," "expect," "anticipate," "estimate," "believe," "intend," "seek," or "project" or the negative of these words or other variations on these words or comparable terminology. 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, pipeline of potential sales, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the market and projected market for our existing and planned products and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) 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 inability to meet listing standards to uplist to a national stock exchange, 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 December 10, 2019