Business
Chinese Fund Invests in Bionik Laboratories and Establishes Joint Venture
Chinese Fund Invests in Bionik Laboratories and Establishes Joint Venture.
About this update from Bionik Laboratories Corp.
[{"type":"text","content":"\n\n\n\nChinese Fund Invests in Bionik Laboratories and Establishes Joint Venture\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nChinese Fund Invests in Bionik Laboratories and Establishes Joint Venture\nCanada NewsWire\nTORONTO and BOSTON, May 24, 2017\n\n\n\nChinese joint venture enables penetration into largest growth market in the world\n\n\n\nTORONTO and BOSTON, May 24, 2017 /CNW/ -- 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. \n\n\n \n \n\n \nThe 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.\n\nGinger 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.\n\nGinger 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 Cap...