- Presentation with live webcast on Wednesday, March 16 at 7:00 a.m. PT -
- Presentation to include Company's planned acquisition of Interactive Motion Technologies, Inc. -
TORONTO, March 10, 2016 /CNW/ -- Bionik Laboratories Corp. (OTCQX: BNKL), a medical device and robotics company with a focus on developing technologies and solutions for individuals with neurological disorders ("Bionik" or the "Company"), announced today that Peter Bloch, Chief Executive Officer and Chairman of the Board, will present at the 28th Annual ROTH Conference on Wednesday, March 16, 2016 at 7:00 a.m. PT in Dana Point, California.
Mr. Bloch will provide a corporate update and will discuss the progress of its primary product, ARKE™, a robotic lower-body exoskeleton device designed to allow paraplegics as well as other wheelchair users the ability to rehabilitate through walking and other motion. Mr. Bloch will also discuss Bionik's recent news announcing that the Company entered into a definitive merger agreement with Interactive Motion Technologies, Inc. ("IMT"), a Boston, Massachusetts-based global pioneer and leader in providing effective robotic tools for neurorehabilitation. The transaction is subject to customary closing conditions, including approval by IMT's shareholders. Bionik expects the transaction to close in April 2016.
IMT's product line includes three upper extremity clinical rehabilitation products currently on the market for clinical use, a lower-body product available for research use being developed for clinical release, and an exciting new product candidate for gait in development at MIT. IMT has established a growing body of clinical data for these products. The clinical products have U.S. Food and Drug Administration (FDA) approval and are currently sold in over 20 countries, including the United States. IMT has strong data and licensed intellectual property supporting certain of its products including three patents with exclusivity through 2029 and 2033. In addition, IMT's manufacturing facility is compliant with FDA regulations.
A live webcast of the presentation will be available on Bionik's IR Calendar in the Investor Relations section of the Company's website (www.bioniklabs.com). The webcast replay will be available approximately two hours after the presentation ends and will be archived for 30 days.
About Bionik Laboratories
Bionik Laboratories (OTCQX: BNKL) is a medical device and robotics company with a focus in developing technologies and solutions for individuals with neurological disorders. The Bionik team has researched, developed and tested its expected first product, The ARKE™, a robotic lower-body exoskeleton device that allows paraplegics as well as other wheelchair users the ability to rehabilitate through walking and other motion. For more information, please visit www.bioniklabs.com and connect with the Company on Twitter, LinkedIn and Facebook.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of human exoskeletons, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the successful closing of the transactions contemplated by the merger agreement with IMT and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of our products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, volatility in the price of the Company's raw materials, existing or increased of the closing conditions to the merger with IMT, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company does not undertake to update these forward-looking statements.
SOURCE Bionik Laboratories Corp.
For further information: Bionik Laboratories, Inc., Jenene Thomas, Jenene Thomas Communications, LLC, (908) 996-0239, [email protected], http://www.bioniklabs.com