BIONIK Laboratories InMotion® Robotics Technology Meets the Recovery Demands from an Increase of Stroke Patients Brought on by Severe Cases of COVID-19

Rhea-AI Summary

BIONIK Laboratories Corp (OTCQB: BNKL) is strategically positioned to address recovery needs of stroke patients, particularly those recovering from severe COVID-19 cases. Studies indicate that over 80% of COVID-19 hospitalized patients displayed neurological symptoms, with a 6% increase in stroke occurrences in severe cases. The company's InMotion® Robotic Systems offer effective therapy solutions, emphasizing safety and reduced contact during treatment. Success at Einstein Healthcare Network’s MossRehab reinforces their effectiveness in rehabilitating patients while ensuring stringent infection control protocols.

Positive

• BIONIK's InMotion® Robots have proven successful in COVID-19 rehabilitation programs.
• The company addresses a growing demand for rehabilitation services linked to increased stroke incidences post-COVID-19.
• InMotion® systems support recovery in over 15 countries, showcasing global applicability.

Negative

• None.

Severe COVID-19 Cases Linked to Increased Incidences of Stroke

TORONTO & BOSTON--(BUSINESS WIRE)-- BIONIK Laboratories Corp. (OTCQB: BNKL) (“BIONIK” or the “Company”), a robotics company focused on providing rehabilitation and assistive technology solutions to individuals with neurological and mobility challenges from hospital to home, today announced its unique position to meet the increased recovery demands from stroke patients who have suffered from a severe case of COVID-19.

According to a recent study on the impact of COVID-19 on neurological events, more than 80% of patients hospitalized with COVID-19 have had neurologic symptoms at some point in the course of their disease, including stroke. In looking at ischemic stroke in COVID-19, patients who experienced severe illness from a COVID-19 diagnosis saw a 6% increase in the incidences of stroke occurring 1-3 weeks post-onset symptoms. Through its line of InMotion® Robots, BIONIK offers evidence-based technologies for patient-adept therapy to stroke patients that are intended to restore upper-extremity motor control for a broad range of neurological conditions and recovery stages.

Recovery and treatment for patients following a stroke with a positive COVID test requires an emphasis on safety procedures, including maintaining distance in between caregivers and patients along with strict infection control. While human touch has long been a hallmark of modern medicine, the InMotion® Robotic Systems help hospitals and outpatient facilities administer targeted therapy for stroke patients, while removing the amount of direct contact needed as clinicians guide and oversee the robot’s movements with patients.

BIONIK has already seen success with InMotion® systems utilized for stroke patients previously diagnosed with COVID-19. The Company’s robot was integrated into Einstein Healthcare Network’s MossRehab’s Core+ Unit, a rehabilitation space for patients infected with or recovering from COVID-19 that require inpatient rehabilitation to return to their communities. The CORE+ Unit is in a dedicated section of MossRehab Elkins Park, the largest provider of physical medicine and rehabilitation in the Philadelphia region, where patients have their own rooms, dedicated staff, stringent PPE requirements, and transportation protocols to reduce risk of infection.

“Following a stroke, patients need to begin their recovery journey immediately to strengthen their brain's neuroplasticity. With BIONIK’s InMotion® devices, we’re able to increase the quantity and the quality of movements done in each therapy session,” said Richard Russo, Jr., Chief Financial Officer and Interim Chief Executive Officer of BIONIK. “The robot assists with every movement and provides the additional support to help patients overcome any movement obstacles they may face along the way, making it an ideal option for the recovery needs of all stroke patients, but especially those who may test positive for COVID-19.”

InMotion® robotic therapy systems are used regularly in more than 15 countries to help stroke survivors and those with other neurological conditions regain arm movement by training shoulder protraction/retraction, flexion/extension, abduction/adduction, internal/external rotation and elbow flexion/extension. InMotion® Robots guide the patient through specific tasks, often completing upwards of 1,000 movements per hour, in an effort to improve motor control of the arm by increasing strength, range of motion and coordination, and assisting with the provision of efficient, effective and intensive sensorimotor therapy.

About BIONIK Laboratories Corp.
BIONIK Laboratories 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 three products in varying stages of development.

For more information, please visit www.BIONIKlabs.com and connect with us on Twitter, LinkedIn, and Facebook.

Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "should," "would," "will," "could," "scheduled," "expect," "anticipate," "estimate," "believe," "intend," "seek," or "project" or the negative of these words or other variations on these words or comparable terminology. 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 and other robotic rehabilitation products, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, pipeline of potential sales, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the market and projected market for our existing and planned products 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. 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 inability to meet listing standards to uplist to a national stock exchange, the significant length of time and resources associated with the development of our products and related insufficient cash flows and resulting illiquidity, the impact on the Company’s business as a result of the COVID-19 pandemic, 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, 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.

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Media:

Ashley Willis

FischTank PR

Ashley@fischtankpr.com

Investor Relations:

Stephanie Prince

PCG Advisory

sprince@pcgadvisory.com

646.863.6341

Source: BIONIK Laboratories Corp.

FAQ

What recent developments has BIONIK Laboratories Corp (BNKL) announced regarding COVID-19 and stroke recovery?

BIONIK Laboratories announced its position to meet the increased demand for stroke recovery solutions, particularly for patients recovering from severe COVID-19, emphasizing the effectiveness of its InMotion® Robotic Systems.

What percentage of COVID-19 patients experience neurological symptoms, according to BIONIK's announcement?

Over 80% of patients hospitalized with COVID-19 have displayed neurological symptoms, including an increased incidence of stroke.

How does the InMotion® Robot assist stroke recovery for COVID-19 patients?

The InMotion® Robot provides targeted therapy while minimizing direct contact, facilitating rehabilitation under strict infection controls.

What is the significance of the CORE+ Unit mentioned in BIONIK's press release?

The CORE+ Unit at Einstein Healthcare Network integrates BIONIK's robotic systems for inpatient rehabilitation, highlighting effectiveness in treating COVID-19 stroke patients.

In how many countries are BIONIK's InMotion® robotic therapy systems used?

BIONIK's InMotion® robotic systems are used regularly in over 15 countries.