Bionik Laboratories Reports Fiscal Year Financial Results

Bionik Laboratories (OTCQX:BNKL) announced its financial results for the fiscal year ended March 31, 2017.
As quoted in the press release:

Corporate Highlights

• Closed on the Company’s previously announced tender offer to amend and exercise certain outstanding warrants, raising approximately $1,250,000 in gross proceeds.
• Announced partnership with Wistron Corporation to develop exoskeleton technologies for the consumer medical device market and bring lower-body assistive robotic technologies to the consumer home products market.
• Reached milestone with shipment of 250^th interactive robotic therapy system for patient rehabilitation. Company’s technology now utilized in more than 200 hospitals and clinics throughout 20 countries worldwide.
• Entered into joint venture with Ginger Capital Investment Holding Ltd. to bring evidence-based interactive robotic systems to the Chinese market, the largest growth market in the world. Agreement includes $500,000 direct investment into Bionik and $1.45M investment into joint venture by Ginger Capital.
• Made key additions to commercialization team, adding industry veterans to help drive the commercial sales and clinical team’s efforts to reach underserved rehabilitation and mobility solutions market.

“We have taken a significant step towards expanding market presence and commercialization of our assistive robotic technologies by entering into key partnerships with leaders in consumer product development, manufacturing, and distribution. We believe these relationships will enable us to access larger markets, which will be especially important as we begin to enter fast growing markets in Asia,” said Peter Bloch, Chief Executive Officer and Chairman of the Board of Bionik Laboratories Corp. “We intend to continue to cultivate relationships that will be beneficial to our market penetration, while continuing to further build out our technology portfolio and seek key approvals in global markets. We believe our company is well positioned to meet the growing global need for robotic solutions.”

Click here to read the full press release.

Source: www.newswire.ca