Bionik Laboratories Announces Option to License Robotics Technology from the University of Texas at Dallas
Bioniks robotic solutions are currently contributing to effective and affordable patient care with respect to treatment of neurological disorders in 20 countries and in over 240 hospitals. Exoskeletons serve as one of the Companys primary focuses.
TORONTO and BOSTON, March 30, 2017 -- Bionik Laboratories Corp. (BNKL) ("Bionik" or the "Company"), a robotics company focused on providing rehabilitation and mobility solutions to individuals with neurological and mobility challenges from hospital to home, announced today that it has entered into an option agreement with The University of Texas at Dallas ("UT Dallas") with respect to certain of UT Dallas novel robotics and control systems technologies. The agreement establishes a one-year period in which Bionik can evaluate these technologies, and grants to Bionik an exclusive option to negotiate a worldwide license under certain patent rights owned by UT Dallas, as well as an option to negotiate a non-exclusive license under certain technology rights owned by UT Dallas. Bionik is evaluating these technologies to determine whether they can be used to enhance the Companys planned assistive product line expansion.
Mr. Michal Prywata, co-founder, chief technology officer and director of Bionik, has stated, "Management is extremely pleased to forge this strategic relationship with the University of Texas at Dallas. Bionik has determined that possessing access to the worlds leading robotic technology is paramount to developing state-of-the-art robotics and establishing ourselves as a leader within the emerging medical device industry. We entered into this option agreement as our preliminary investigation has indicated that this infusion of technology and innovation will provide a strong, competitive advantage to our current technology platform, and that the Company can extend its exoskeleton robotic platform and improve our existing technology."
The technology has been developed by Dr. Robert Gregg IV and his two colleagues, Ge Lv and Hanqi Zhu, and their robotics lab at UT Dallas. Dr. Gregg is an assistant professor of bioengineering and mechanical engineering, and the director of the Locomotor Control Systems Laboratory at UT Dallas and the UT Southwestern Medical Center. He was previously a research scientist at the Rehabilitation Institute of Chicago and a postdoctoral fellow at Northwestern University. His research and inventions concern the control mechanisms of human locomotion with applications to wearable and autonomous robots.
"We are extremely pleased to work with an innovative company such as Bionik Laboratories so that the results of our research can benefit the most people," stated Dr. Gregg, at UT Dallas. "These innovations in control systems and novel actuation technologies greatly improve robotic performance and will ultimately produce better mobility for a larger patient population. During Bioniks option period and on execution of the final license agreement, we will work closely with Bionik to advance the technology that will allow them to enhance and commercialize their assistive robotics solution and improve quality of life for persons with these disabilities."
About Bionik Laboratories
Bionik Laboratories (BNKL) is a robotics company focused on providing rehabilitation and mobility solutions to individuals with neurological and mobility challenges from hospital to home. The Company has a portfolio of products focused on upper and lower extremity rehabilitation for stroke and other mobility-impaired patients, including three products on the market and four products in varying stages of development. The InMotion Systems — the InMotion ARM™, InMotion Wrist™, InMotion Hand™ and InMotion AnkleBot™ — are designed to provide intelligent, patient-adaptive therapy in a manner that has been clinically verified to maximize neuro-recovery. Bionik is also developing a lower-body exoskeleton, ARKE™, designed to allow paraplegics as well as other wheelchair users the ability to rehabilitate through walking. ARKE is designed to continually adapt to a patients ability and provide real-time feedback to the physiotherapist.
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