Bionik, Interactive Motion Technologies Merge

Toronto-based Bionik Laboratories has signed an agreement to merge with Interactive Motion Technologies, a provider of robotic tools for neurorehabilitation.

Under the agreement, Bionik will obtain all of IMT’s outstanding shares, assets and liabilities.

The transaction is contingent upon “customary closing conditions, including approval by IMT's shareholders,” according to Bionik.

Once the merger is completed, Jules Fried, IMT's CEO, will be named to Bionik's management team as vice president of U.S. operations, and Hermano Krebs, IMT's founder and chairman, will be named chief science officer of the company.

The transaction is scheduled to close next month. — Anisa Jibrell