TORONTO & BOSTON--(BUSINESS WIRE)--BIONIK Laboratories Corp. (OTCQB: BNKL), a robotics company focused on providing rehabilitation and assistive technology solutions to individuals with neurological and mobility challenges from hospital to home, today announced the appointment of Richard Russo, Jr. as Chief Financial Officer, effective today, November 30, 2020. Russo, Jr. will report directly to Dr. Eric Dusseux, BIONIK’s Chief Executive Officer.
Russo, Jr. joins BIONIK from ICarbonX, a privately held digital health management company specializing in artificial intelligence and health data, where he held the role of Vice President of Finance and U.S. Chief Financial Officer. He originally joined PatientsLikeMe (PLM), then supported the business through the merger of PLM, ICarbonX and HealthTell, where he was instrumental in helping to close an investment by key Asian investors. There, he was responsible for establishing the financial strategies, policies and procedures that scale for a much larger and global company. As a member of their leadership team, he worked to develop and implement approaches that improved working capital as well as support the overall management and strategic direction of the global company.
"We would like to thank Leslie Markow for her contributions as CFO to BIONIK Laboratories and for all of the work she has put in during her time with the Company, as she transitions into the temporary role of Deputy CFO," said Dr. Eric Dusseux, Chief Executive Officer, BIONIK Laboratories. "We are excited to add someone of Rich's stature and financial experience to a leadership role during this important time of growth for our Company. His experience in leading finance teams and growing public companies, his financial expertise in the field of artificial intelligence in health data companies, and his exposure to Asia will be a tremendous asset for us moving forward. We welcome him and look forward to his insights."
Before ICarbonX, Russo, Jr. held several key financial leadership roles. He served as Corporate Controller for Pieris Pharmaceuticals, Inc., a clinical stage biotechnology company listed on the NASDAQ.
Prior to that, at the Nasdaq-listed Juniper Pharmaceuticals, Russo, Jr. held the role of Corporate Controller and led a team responsible for the finance function and SEC reporting. At Cynosure, also listed on the NASDAQ stock market, in the role of Corporate U.S. Controller, Russo, Jr. led a team responsible for all finance activities and the consolidation of several subsidiaries. In this role, he partnered closely with the business leaders to ensure effective and efficient financial procedures throughout the organization.
Russo, Jr. began his finance career as an auditor with Pricewaterhouse Coopers in their Boston office, and brings over 15 years of finance experience in publicly traded companies operating in artificial intelligence, data, healthcare and manufacturing sectors to his role at BIONIK.
“I am excited to step into the CFO role at BIONIK to help the company continue executing its strategic plan, accelerate growth, and deliver value to its shareholders,” said Russo, Jr. “The company has made significant strides this year and is well positioned to address some very attractive markets. I am energized by this opportunity and look forward to contributing to the Company’s success.”
Russo, Jr. is a graduate of Bridgewater State University’s dual degree program, where he received his Bachelor of Science in Accounting and his Masters in Management and Accounting. He also holds the CPA designation.
About BIONIK Laboratories Corp.
BIONIK Laboratories is a robotics company focused on providing rehabilitation and mobility solutions to individuals with neurological and mobility challenges from hospital to home. The Company has a portfolio of products focused on upper and lower extremity rehabilitation for stroke and other mobility-impaired patients, including three products on the market and two products in varying stages of development.
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