Business
Bionik Laboratories Reports Fiscal Year Ended 2016 Financial Results and Provides Business Update
Bionik Laboratories Reports Fiscal Year Ended 2016 Financial Results and Provides Business Update.
About this update from Bionik Laboratories Corp.
[{"type":"text","content":"\n\n Acquisition of Interactive Motion Technologies, Inc. (IMT) further differentiates Bionik in robotics market and propels company to its next stage of growth Bionik provides a wide range of rehabilitation solutions for individuals with neurological disorders living with both upper and lower body mobility challengesCompany to focus on near-term strategy of market expansion and revenue generation of commercial products TORONTO and BOSTON, June 30, 2016 (GLOBE NEWSWIRE) -- Bionik Laboratories Corp. (OTCQX:BNKL) (“Bionik” or the \"Company\"), a global pioneering robotics company focused on providing rehabilitation solutions to individuals with neurological disorders announced today its financial results for the three months and fiscal year ended March 31, 2016. The Company also provided a business and development progress.\n Corporate Highlights Announced the acquisition of  Interactive Motion Technologies, Inc. (IMT);Combined Bionik and IMT teams with formation of bolstered Bionik executive management team;Announced partnership with IBM to develop unique analytics system and apply sophisticated machine learning algorithms to improve the outcomes of neurological rehabilitation, beginning with ARKE, the Company’s lower body exoskeleton;Provided the first European demonstration of ARKE during a presentation at the Colloquium on Sports and People with Disabilities at l’Université de Poitiers; andAchieved 50% target enrollment for landmark RATULS Research Study of robot-assisted training - largest trial conducted to date in robotic rehabilitation. Peter Bloch, Chief Executive Officer and Chairman of the Board stated, “We have made notable progress with the execution of our growth strategy with the completion of the IMT acquisition. We have effectively transformed Bionik by expanding the Company’s technology and product portfolio significantly, and importantly, with the addition of preeminent leaders in robotics technology development to the Bionik team.” “With the integration of Bionik and IMT now complete we are able to focus on our near-term priorities of market expansion and revenue generation of our commercial products and driving our development products towards approval in key markets to further build a robust portfolio of robotic solutions for individuals with neur...