BIONIK Laboratories: Strong Sales Pipeline Delivering Hope to Stroke Survivors
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.
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