NEW YORK, Oct. 29, 2019 (GLOBE NEWSWIRE) — RYAH Medtech, Inc. (“RYAH” or the “Company”), a big data and technology company focused on valuable predictive analysis in the global medical plant intake industry, announced today that it has signed an agreement with an international clinic (the “Clinic”) for one of the world’s largest and most comprehensive clinical trials in plant-based medicine. The order consists of approximately 100,000 RYAH dose-measuring dry herb vaporizers and several million RYAH proprietary dry herb cartridges, to be purchased by the Customer over a five year period, with the first purchases anticipated in December 2019.
As part of the agreement, the Clinic will conduct a clinical research program on the safety and efficacy of cannabis and hemp on patients suffering from chronic pain, utilizing RYAH smart IoT vaporizers and dry herb cartridges. The study, which will be run at a major international oncology clinic, will allow for precision dosing and the opportunity to track patient responses to the treatment, by utilizing RYAH’s proprietary technology. The Clinic plans to submit the anonymized data generated by RYAH’s smart devices to its national health regulator, to advance the industry’s understanding of the safety and efficacy of cannabis as a treatment for chronic pain.
“This milestone agreement for such a significant volume of our dry-herb vaporizers and cartridges further validates our value proposition and launches RYAH products into a new market,” said Gregory Wagner, CEO of RYAH Medtech, Inc. “Our devices allow patients, clinics and doctors greater control over the quantity and frequency of dosing, driving superior results for patients. Moreover, by using our best-in-class vaporizers, cartridges and customized software capabilities, the Clinic will capture medically-relevant seed-to-consumption data on its cannabis-based treatments, which will then be analyzed to assess the safety and efficacy of medical cannabis, with the goal of advancing evidence-based policy making.”
Wagner continued, “This significant purchase order follows our recently announced distribution agreement in Australia, which marked our entry into international markets. We are gratified these key international markets recognize the unique value RYAH brings to the industry, resulting in revenues quickly on the heels of our commercial launch in the U.S. this past summer.”
RYAH will be launching a fully customized mobile application and back-end software solution specifically for the clinical trial – designed to precisely control temperature, dosing and specific patient feedback directly to the clinic for this major study. Using RYAH devices combined with customized APIs will enable the clinic to track patient response rates securely, in near-real time, and to build data-backed evidence of the safety and efficacy of cannabis treatments, which is desperately needed in the medical cannabis industry. RYAH’s partnership with the Clinic to bring its next generation technology and custom software validates the Company’s commitment to radically improving human health in major disease areas.
Jordan Medley, Director of Product Operations at RYAH, said, “We are thrilled to create a custom solution for our clinic partner that helps facilitate the unique needs of their study. By giving the clinic the ability to a) prescribe a specific amount of dry herb medicine in pre-filled, tamper proof cartridges, and b) set a specific temperature and dose for each of their patients in their very own app, it improves the integrity of the study by removing key variables that could drastically influence the effects that their patients experience.”
RYAH received a CE Mark for its dose measuring and data aggregator vaporizer in June 2019. The Company is targeting opportunities to expanding its operational footprint in the United States, Canada, Europe and in the Asia-Pacific region.
About RYAH Medtech, Inc.
RYAH is a big data and technology company focused on valuable predictive analysis in the global medical plant intake industry. The company manages a complete digital ecosystem leveraging both Internet of Things and Artificial Intelligence to create a dynamic data service for the medical plant industry. It is developing a suite of IoT devices, including a dry-herb vaporizer device capable of storing all plant lab results, measuring patient inhalation sessions in real-time and capturing instant feedback for plant dose management. Its robust artificial intelligence platform aggregates and correlates HIPAA-compliant medical data, which is intended to help doctors and patients personalize plant-based treatments to better predict treatment outcomes. The data collection is also relevant for pharmacies, clinics, growers, dispensaries and Licensed Producers (LPs) to monitor and manage plant strain effects on patients. With a strong IP portfolio, RYAH gathers deep and insightful data on the complete medical plant lifecycle, from seed to consumption.
Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation and United States rules and regulation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate to the Company; execution of additional distribution agreements; and the results users may receive from using RYAH are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company’s information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations; a novel business model; granting of permits and licenses in a highly regulated business; the overall difficult litigation environment, including in the United States; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; and the risk associated with a business in the cannabis industry. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
Public Relations Contact:
Gretchen Gailey / Annie Graf
KCSA Strategic Communications
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+1 347-487-6186 / +1 786-390-2644
Investor Relations Contact:
Elizabeth Barker
KCSA Strategic Communications
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+1 212-896-1203
