Bionik Laboratories Corp. (OTCQX: BNKL) has entered into an investment and joint venture agreement with Hong Kong based Ginger Capital Investment Holding Ltd. to bring its evidence-based interactive robotic systems to the Chinese market.
Ginger Capital is investing US $500,000 directly into Bionik Laboratories and US $1,450,000 into a joint venture (JV) to fund the JV’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.
The JV will include an exclusive license to sell Bionik’s innovative robotic products in China, including the its 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.
“I am excited that this joint venture provides Bionik’s products with access to the largest growth market in the world and I am inspired by being chosen for our technical advancements and proven technology. I am also proud of the achievement of our innovative engineering and management teams,” said Peter Bloch, CEO of Bionik Laboratories. “It is through these types of partnerships that Bionik can significantly increase its market penetration and revenues. In fact, due to the serious international interest we have experienced, we are currently negotiating additional strategic partnerships to expand our distribution to other major international markets. Bionik’s intellectual property and know how is also expected to be utilized in the emerging consumer robotic market. These initiatives are expected to help accelerate the company’s path to revenue and provide tremendous opportunity for Bionik to position itself as a leader in the emerging robotic industry. I am truly pleased with the fact that American technology will make a global impact and validate our capabilities and ultimately improve human mobility globally.”
“We selected Bionik to partner with us as a result of the strong clinical data supporting the efficacy of their products. We are looking forward to working with the team at Bionik Laboratories and to bringing their superior robotic solutions to the Chinese market. Bionik’s evidence-based products are truly innovative and can provide improved patient care for millions of people. We have established relationships for distribution in China and the experience to succeed with this exciting joint venture,” said Rita Jiang and Jia Cai, Managing Partners of Ginger Capital.
“The 16 million new stroke patients globally each year is expected to triple by 2050 and China represents a large percentage of those patients. This rapidly growing human issue requires evidence-based solutions like ours in order to effectively treat these patient populations and return them to activities of daily living,” said Tim McCarthy, Chief Commercialization Officer of Bionik Laboratories. “We are excited about this partnership as it will significantly broaden access to our evidence based solutions for stroke survivors and their families, allowing them to live fuller and more independent lives.”
Ginger Capital Investment Holding Ltd. (GCI) is an independent direct investment and management consulting group based in Hong Kong. GCI invests in the strategic development of promising medium-sized companies with Enterprise Values of US$50 million to US$500 million that have substantial operations in US or Asia and need capital for major expansions, mergers and acquisitions, restructures, etc. having an Asia-focus. GCI’s major management consulting focus is providing access to the Chinese healthcare market – GCI has successfully established relationships and partnered with major healthcare institutions across China including research centers, private and public hospital chains, and major clinics.