Bionik Laboratories Corp. (OTCMKTS:BNKL) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry Into a Material Definitive Agreement |
On June 22, 2017, Bionik Laboratories Corp. (the Company) entered
into a Joint Development and Manufacturing Agreement with Wistron
Medical Tech Holding Company (Wistron), to which the parties
agreed to jointly design, engineer, and manufacture low-price,
lower-body assistive robotic technologies for mass commercial
sale within the consumer home products market (the Joint
Development Agreement). to the Joint Development Agreement, among
other things, each party granted to the other a fully paid up,
non-exclusive, royalty-free, non -transferable and
non-sublicensable license under its background intellectual
property to (i) develop the joint development product for
commercialization and use and (ii) use or manufacture, as the
case may be, the joint development product to perform its
obligations under the Joint Development Agreement. Additionally,
the Company agreed to reimburse Wistron (either through a mark-up
on the cost of goods or through a payment for the costs incurred)
for all of its costs and expenses under the Joint Development
Agreement, and the Company shall own all developed intellectual
property so long as the reimbursement obligations have been met.
The above summary of certain terms and conditions of the Joint
Development Agreement does not purport to be complete and is
qualified in its entirety by reference to the Joint Development
Agreement.
A copy of the press release relating to the Joint Development
Agreement is filed as Exhibit 99.1 to this Current Report on Form
8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits. |
| Exhibit | Description | |
| 99.1 | Press Release |
Bionik Laboratories Corp. ExhibitEX-99.1 2 v469904_99-1.htm EXHIBIT 99.1 EXHIBIT 99.1 Bionik Laboratories and Wistron Corporation Partner to Develop Exoskeleton Technologies for Consumer Medical Device Market Joint development project pairs expertise of both companies to produce low-price,…To view the full exhibit click here About Bionik Laboratories Corp. (OTCMKTS:BNKL)
Bionik Laboratories Corp. (Bionik), formerly Drywave Technologies, Inc., is a medical device and robotics company. The Company is focused on providing rehabilitation solutions and developing transformational technologies and solutions to individuals with neurological disorders, specializing in the designing, developing and commercializing of physical rehabilitation technologies, prosthetics and assisted robotic products. It has over three products on the market and approximately three products in various stages of development. The InMotion Systems include the InMotion ARM, InMotion HAND, InMotion Wrist and InMotion ANKLE are designed to provide patent-adaptive therapy in a manner that has been clinically verified to manage neuro-recovery. The Company is also engaged in developing a lower-body exoskeleton, ARKE, which designs to allow paraplegics, as well as other wheelchair users the ability to rehabilitate through walking.