In a joint venture, Bionik Laboratories Corp is partnering with Ginger Capital Investment Holding Ltd to sell Bionik’s robotic rehabilitation systems, such as the InMotion ARM, InMotion HAND, and InMotion WRIST, in China.
The agreement will also lead the China Food and Drug Administration (CFDA) approval process for Bionik and its products.
Ginger Capital is investing $500,000 directly into the company and $1,450,000 into the joint venture to fund its operations in China, notes a media release from Bionik Laboratories Corp.
“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,” says Peter Bloch, CEO of Bionik Laboratories, in the release.
Ms Rita Jiang and Ms Jia Cai, managing partners of Ginger Capital, state in the release that, “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,” they add. “We have established relationships for distribution in China and the experience to succeed with this exciting joint venture.”
[Source(s): Bionik Laboratories Corp, PR Newswire]