Bionik Laboratories Enters into Merger Agreement to Acquire Interactive Motion Technologies, Inc.

Bionik Laboratories Corp. (OTCQX: BNKL) entered into a definitive merger agreement to acquire Interactive Motion Technologies, Inc. (IMT), a Boston, Massachusetts-based global pioneer and leader in providing effective robotic tools for neurorehabilitation. Under the terms of the Merger Agreement, pending shareholder approval, among other conditions, IMT shareholders will receive an aggregate of 23,650,000 shares of Bionik’s common stock.
According to the news:

Following the closing of the acquisition, the IMT and Bionik teams expect to be integrated, and Bionik will maintain IMT’s U.S. office based in Boston, Massachusetts. Upon closing, Jules Fried, IMT’s Chief Executive Officer, is expected to be appointed to Bionik’s management team as VP, U.S. Operations and Hermano I. Krebs, Ph.D., M.S., IMT’s Co-Founder and Chairman of the Board, is expected to be appointed Chief Science Officer of the Company. Neville Hogan, Ph.D., M.S., M.E., a member of IMT’s Board of Directors, is expected to assume an advisory role to the Bionik team. Drs. Krebs and Hogan are co-founders of IMT, robotics engineering professors at the Massachusetts Institute of Technology (MIT) and world leaders in robotics technology development.

Peter Bloch, Chief Executive Officer and Chairman of the Board of Bionik Laboratories commented:

We worked tirelessly throughout 2015 to identify the right opportunities to execute on our growth strategy, and I believe this all-stock transaction will be transformational for Bionik. The proposed acquisition of IMT and its innovative medical engineering systems will enable Bionik to significantly expand our technology and product portfolio, enabling the Company to offer a suite of synergistic commercial-stage and development products in the neurorehabilitation field.

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