ARKE lower-body robotic exoskeleton testing to commence in Canadian rehabilitation centers by the end of 2015; key data expected mid-2016
TORONTO, Nov. 12, 2015 /PRNewswire/ -- Bionik Laboratories Corp. (OTCQX: BNKL), a pioneering medical device and robotics company with a focus in developing technologies and solutions for individuals with neurological disorders (“Bionik” or the “Company”), announced today its financial results for the quarter ended September 30, 2015.
The Company also provided an update on the development progress of its primary product, ARKE, a robotic lower-body exoskeleton device that allows paraplegics and as well as other wheelchair users the ability to rehabilitate through walking and other motion.
Peter Bloch, Chief Executive Officer and Chairman of the Board, stated, “The third quarter was marked by significant progress on the engineering and development fronts in preparation of advancing ARKE towards commercialization. The team remains highly focused on continuing to meet its important timelines and is currently in the assembly and testing stages of ARKE GEN2. The completion of this phase is expected to enable ARKE to be tested in a clinical setting with patients in Canada to produce key data that we expect to report in mid-2016.”
Recent Corporate Highlights
- Reengineered the ARKE exoskeleton for a lighter mechanical profile and significantly improved control, adaptability, safety and electronics with improved safety features;
- Commenced production of first rehabilitation units of ARKE GEN2 in preparation for the initiation of clinical testing in rehabilitation centers in Canada;
- Named a Kairos Society’s 2015 “K50" company, honoring the next generation of entrepreneurs developing breakthrough innovations;
- Awarded the Nasdaq Entrepreneurial Center Resource Prize at the Kairos Global Summit;
- Commenced trading on the OTCQX® Best Market under the Company’s existing ticker symbol “BNKL;" and
- Successfully completed a private placement equity financing with gross proceeds of approximately US$13.1 million.
ARKE Overview
Bionik recently announced further program advancements, namely the completion of the design of ARKE GEN2, which the Company believes is the first exoskeleton prototype with tablet control.
ARKE GEN2 is Bionik’s novel and proprietary second generation robotic lower-body exoskeleton, designed with a lighter mechanical profile from the Company’s first generation and significantly improved control, adaptability, safety and electronics.
“Bionik’s patented ARKE exoskeleton has the ability to allow users to walk more easily and efficiently. Currently, there are approximately 10 million wheelchair users in developed countries and a large percentage of people could be directly affected by ARKE rehabilitation,” remarked Michal Prywata, the Company’s Co-Founder and Chief Operating Officer. “With robotic exoskeletons like ARKE, we have the potential to transform the future for mobility impaired patients by significantly improving rehabilitation stimulation.”
ARKE units are expected to be shipped to rehabilitation centers in Canada and clinical evaluation is expected to commence before year end. Bionik expects to report initial findings from the use of the second generation robotic device by mid-2016.
In preparation for the launch of the ARKE rehabilitation clinical validation program, Bionik expects to commence pre-clinical verification testing in early 2016.
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