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BIONIK Laboratories: Strong Sales Pipeline Delivering Hope to Stroke Survivors

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As BIONIK Laboratories (BNKL) marks National Stroke Awareness Month, Interim CEO, Richard Russo, talks about what’s next for the company

New York, New York–(Newsfile Corp. – May 25, 2022) – PCG Digital – Stroke is an enormous public health issue that can strike anyone at any time, regardless of age or health status. Worldwide, stroke is the second leading cause of death and a leading cause of serious long-term disability. According to the American Heart Association, each year stroke affects 800,000 individuals. More than two thirds of stroke survivors receive rehabilitation services after hospitalization.

Recovering from stroke can be a lengthy process, often requiring a significant number of hours in rehabilitation therapy. InMotion robotics sets out to deliver high repetitions, the right intensity and the proper dosage that traditional therapy can’t provide.

BIONIK Laboratories (OTCQB: BNKL) is a medical robotics company providing rehabilitation and assistive technology solutions to individuals with neurological and mobility challenges and, most notably, is playing an important role in individuals’ physical rehabilitation when recovering from stroke.

May is National Stroke Awareness Month and today we’re speaking to BIONIK Laboratories Interim CEO, Rich Russo, to find out more about how BIONIK’s devices are helping stroke survivors as they rebuild their lives.

Q: National Stroke Awareness Month highlights the serious impact stroke can have on individuals and their lives as they work through their recovery. Can you talk a little about BIONIK’s mission?

A: Stroke is a devastating reality for many Americans and their families. It can affect anyone at any age and the purpose of National Stroke Awareness Month is to increase public education, so people know the signs to watch for, and how to act when they suspect someone is having a stroke.

BIONIK’s goal is to enable the millions with movement impairments to lead fuller and more independent lives by fostering hope, recovery, and independence across the rehabilitation continuum of care. Our quality-of-life solutions include the use of InMotion robotic therapy by physical, occupational and speech therapists, in both inpatient and outpatient rehabilitation care settings. Ours is one of the only devices that can be used for upper extremity rehabilitation for a variety of treatment approaches in multiple care settings.

Q: How do BIONIK’s devices help patients?

A: Our InMotion therapy sessions guide patients through specific tasks aiming to improve motor control of the affected limb by increasing coordination, range of motion and strength. InMotion therapy fosters hope by showing patients their objective progress and facilitates recovery by enabling physical and occupational therapists to achieve high repetitions with their patients during therapy.

Q: How do BIONIK’s devices potentially speed up patient recovery time?

Repetition of key motions is vital for stroke survivors who are working to regain motor function, strength, and coordination. Consistent repetition helps reestablish communication between the damaged parts of the brain and the body, increasing neuroplasticity and facilitating recovery. In a conventional therapy session, a therapist and patient can achieve 30-60 repetitions of an exercise. InMotion devices enable patients to complete 500-1,000 clinician-guided repetitions of key motions in a 30-60-minute session.

Hope also plays a big part in the recovery journey. We have seen our InMotion devices inspire hope in patients. Therapists regularly tell us that InMotion Eval, the devices’ evaluation and reporting system, motivates patients by allowing them to see their progress, both graphically and by the numbers.

Q: What message does BIONIK want to send to stroke survivors?

A: Each day we are driven by our mission, which is to help people lead fuller and more independent lives. If you or a loved one has had a stroke that’s adversely affected the ability to move your arm, and you’ve never received robotic therapy, there is still hope. Robotic therapy has been shown to be effective years, even decades after a stroke. The longest documented time span between stroke and robotic therapy with a recorded reduction in impairment is 23 years!

Recognition of robotic therapy for stroke for neurological rehabilitation is also increasing. The American Heart Association just this month updated their Guidelines for Stroke Care and Recovery Guidelines to highlight the use of robotic therapy for upper-extremity mobility impairments.

Q: And finally, what are the top three messages you would like investors to hear?

The first is our focus on sales: We are excited that our sales pipeline is the strongest it has been in BIONIK’s history.

The second is our relationships: We now have more than 450 InMotion units in place in over 20 countries and continue to build strong relationships with hospital groups and in-patient facilities.

The third is product development: We are now focused on enhancing our existing products and new product development through the use of artificial intelligence and machine learning as well as expanding our distribution channels in the U.S. and internationally.

And looking to the future, we are always exploring other strategic avenues that could showcase BIONIK’s advanced robotics and technology that improves the quality of life for stroke victims.

Disclaimer

This communication was produced by PCG Digital Holdings, LLC, an affiliate of PCG Advisory Inc., (together “PCG”). PCG is not a registered or licensed broker-dealer nor investment adviser. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. PCG may be compensated by respective clients for publicizing information relating to its client’s securities. See www.pcgadvisory.com/disclosures.

PCG Digital
[email protected]
646-863-6341

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125265

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Expressions of Interest for Director of the European Bank for Reconstruction and Development

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The Minister for Finance, Michael McGrath, is inviting Expressions of Interest from suitably qualified candidates to be considered as Ireland’s Director of the London-based European Bank for Reconstruction and Development (EBRD). The remunerated position of Director is an important post with a demanding workload. A full-time residential position, it is based at Bank headquarters in London.

The Minister’s nominee is expected to be appointed by the EBRD, with the agreement of Ireland’s Constituency partner countries, for a three-year term from 1 August 2024.

Minister McGrath commented:

“This is an exciting opportunity to represent Ireland (and our Constituency partners Denmark, Lithuania and Kosovo) as a Director on the Board of the European Bank for Reconstruction and Development overseeing the policy-making and governance of the Bank. The EBRD is a unique International Financial Institution supporting projects across three continents. By investing in projects which otherwise would not be fully met by the market, the EBRD promotes entrepreneurship and fosters transition towards open and sustainable market economies. I am keen to ensure our Irish representative has the ability, education, vision, and experience to make a significant contribution to the Board and brings a range of skills and diverse perspective to the deliberations of the Board.

My nominee will need high competence in economic and financial matters. Expertise can come from notable or significant achievements in the corporate or financial sector, academia, policy-focused institutions, or public service. Importantly, they will have the highest ethical standards, a strong sense of professionalism and commitment, and dedication to serving the interests of all the shareholders and be able to make themself readily available to the Board in the fulfilment of their duties.”

Expressions of interest will be accepted up to 3pm on 27th March 2024

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Council adopts regulation on instant payments

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The Council adopted today a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries.

The new rules will improve the strategic autonomy of the European economic and financial sector as they will help reduce any excessive reliance on third-country financial institutions and infrastructures. Improving the possibilities to mobilize cash-flows will bring benefits for citizens and companies and allow for innovative added value services.

The instant payments regulation will allow people to transfer money within ten seconds at any time of the day, including outside business hours, not only within the same country but also to another EU member state. The regulation takes into consideration particularities of non-euro area entities.

Payment service providers such as banks, which provide standard credit transfers in euro, will be required to offer the service of sending and receiving instant payments in euro. The charges that apply (if any) must not be higher than the charges that apply for standard credit transfers.

The new rules will come into force after a transition period that will be faster in the euro area and longer in the non-euro area, that needs more time to adjust.

The regulation grants access for payment and e-money institutions (PIEMIs) to payment systems, by changing the settlement finality Directive (SFD). As a result, these entities will be covered by the obligation to offer the service of sending and receiving instant credit transfers, after a transitional period. The regulation includes appropriate safeguards to ensure that the access of PIEMIs to payment systems doesn’t carry additional risk to the system.

Under the new rules, instant payment providers will need to verify that the beneficiary’s IBAN and name match in order to alert the payer to possible mistakes or fraud before a transaction is made. This requirement will apply to regular transfers too.

The regulation includes a review clause with a requirement for the Commission to present a report containing an evaluation of the development of credit charges.

Background

This initiative comes in the context of the completion of the capital markets union. The capital markets union is the EU’s initiative to create a truly single market for capital across the EU. It aims to get investment and savings flowing across all member states for the benefit of citizens, businesses, and investors.

On 26 October 2022 the Commission put forward a proposal on instant payments that amends and modernises the single euro payments area (SEPA) regulation of 2012 on standard credit transfers in euro by adding to it specific provisions for instant credit transfers in euro.

Source: European Council

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FCA highlights need for enhanced competition in wholesale data markets

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The FCA has unveiled the outcomes of its in-depth study into the wholesale data market, focusing on the sectors of credit ratings data, benchmarks, and market data vendor services.

Despite deciding against major regulatory actions due to the risk of unintended consequences that could affect the data’s availability and quality—a crucial resource for global investors—the FCA has pinpointed several areas where competition could be significantly improved.

The study’s revelations indicate that the current state of competition in these markets may lead to users incurring higher costs for data than would be the case in a more competitive environment. This concern is particularly pressing given the critical role that such data plays in supporting effective investment decisions across the financial sector.

In a move to address these findings, the FCA has proposed initiatives aimed at ensuring wholesale data is distributed under fair, reasonable, and transparent conditions. This approach forms a part of the regulator’s broader strategy to ‘repeal and replace’ assimilated EU law, reinforcing the UK’s status as a premier global financial hub fostering investment, innovation, and sustainable growth.

Sheldon Mills, the FCA’s Executive Director of Consumers and Competition, emphasised the importance of quality and accessible wholesale data for the efficiency of financial markets. “The quality and availability of wholesale data is integral to well-functioning wholesale financial markets,” Mills stated. He further clarified, “Our market study found that firms can access the data they need to make effective investment decisions. We do not believe the case has been made for significant interventions. However, we will examine ways to help support wholesale data being provided on fair, reasonable and transparent terms.”

In its commitment to fostering a competitive and fair marketplace, the FCA will continue to scrutinize allegations of anti-competitive behavior across all markets, including wholesale data markets, leveraging its powers under the Competition Act to address any such issues.

Source: Fintech Global

 

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