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Bionik Laboratories announced a partnership with Ginger Capital Investment Holding in order to bring its evidence-based interactive robotic systems to the Chinese market.
Bionik Laboratories (OTCQX:BNKL) announced a partnership with Ginger Capital Investment Holding in order to bring its evidence-based interactive robotic systems to the Chinese market.
As quoted in the press release:
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.