Edmonton-based Rehabtronics inks deal with ZTE Coming Biotech
October 12th, 2018
Edmonton, Alberta – Locally owned start up and medical device manufacturer, Rehabtronics Inc., has signed a licensing deal with ZTE Coming Bio, the health division within Chinese multinational telecommunications equipment and systems company, ZTE, to license Rehabtronics products and technology for the Chinese market.
Rehabtronics executives are thrilled at the licensing deal which will make Rehabtronics’ products available to the Chinese market and beyond. “This deal and new exciting partnership will help ensure that people in China living with limited mobility from neurological injuries such as stroke and spinal cord injuries have a chance at much improved recovery using our innovative products,” Dr. Rahul Samant, CEO at Rehabtronics shared at the signing ceremony in Shanghai.
Dr. Rahul Samant ( the third from left to right) during the Signing Ceremony
The signing Ceremony
A technology licensing and transfer deal, this agreement involves Rehabtronics receiving a significant one-time payment plus royalties for a ten year licensing term plus an option for future investments in Rehabtronics. It involves licensing all currently available rehab products for the Chinese market.
These products are all used in rehabilitating functionally limited upper-limb extremities such as hand, arm and shoulder as a result of stroke and spinal cord injury.
The deal will enable Rehabtronics to continue investing in new product and technology development and further global marketing initiatives – all from the company’s offices located at Enterprise Square on Jasper Avenue in Edmonton. A recent contract signing event in Shanghai included the following Canadian and Chinese dignitaries as well as many others.
Winston Kan, Commercial Counsellor, Managing Director of Alberta Beijing Office, Embassy of Canada
Jean-Christian Brillant, Senior Trade Commissioner and Deputy Consul General, Consulate General of Canada
Yvonna Zou, Senior Commercial Officer, Alberta Shanghai Office, Consulate General of Canada
Iris Luo, Commercial Officer, Alberta Shanghai Office, Consulate General of Canada
Carrie Gu, Trade Commissioner, Consulate General of Canada (TBC)
Wu Ye Min, General Manager, ZTE Coming Biotechnology Co., Ltd.
Yemin Wu, Ltd Director, ZTE Coming Biotech Co. , Ltd.
Dr. Rahul Samant (the seventh from right to left) amongst the ceremony attendees
About Rehabtronics Inc.
At Rehabtronics, we make technology to help people recover from neurological injuries like stroke and spinal cord injury. Our current products include the ReJoyce and ReTouch workstations for upper extremity rehabilitation, and the ReGrasp nerve and muscle stimulator for hand movement. Our products are sold worldwide and we are currently undertaking significant efforts to develop a new range
Rejoyce – A State-of-the-art, game-based therapy system that simulates and trains activities of daily living.
ReGrasp – A Functional Electric Stimulation Device that enables stroke patients to recover hand function more effectively.
ReTouch – A large touch screen computer system that provides engaging exercises for hand, arm and shoulder mobility, balance practice, visual field training, cognition, and more.
About ZTE Coming Bioteh
ZTE Coming Biotech privately holds a biotechnology firm headquarter in Shanghai, China. It focus on bringing innovative medical technologies to the Chinese markets. Its larger shareholder is Zhongxing Environmental Protection Group , a subsidiary of ZTE (Zhongxing) telecommunications
About the Chinese Market
Every year, two million people suffer disability due to stroke in China. Rehabtronics’ specialized, targeted products will improve the lives of those suffering with disabilities from neural injury and disease.
To learn more about the licensing deal, Rehabtronics or Coming Bio, and for digital media please contact
Peter Urban, VP Global Marketing and Operations