Ryah Medtech Inc. Files Application with Health Canada for RYAH Medicinal CBD Cartridges
NEW YORK, April 25, 2019 (GLOBE NEWSWIRE) -- Ryah Medtech Inc. (“RYAH” or the “Company”) announced today that it has filed a Medical Device Establishment License application with Health Canada for its commercial grade cannabinoid cartridges. These cartridges are used with RYAH’s ground-breaking dose-measuring medicinal vaporizer for CBD and other cannabinoids or dry herbs.
RYAH is a data aggregation and technology company focused on the global medical cannabis market. Its robust artificial intelligence platform aggregates and correlates HIPAA-compliant medical data which is intended to help doctors and patients personalize cannabis to better predict treatment outcomes. With a strong IP portfolio, RYAH is able to gather insightful data on cannabis from seed to consumption.
“This is an exciting milestone in our company’s history,” said Gregory Wagner, President and CEO of RYAH. “The Health Canada initiative will distinguish us from the competitors in the medical cannabis market since there are very few accredited medical vaporizer/cartridge solutions in Canada.”
The RYAH vaporizer is a precision device that is able to capture the amount of vapor a patient inhales. By providing users with unprecedented temperature and dose control, RYAH creates a consistent and reliable vaporizing experience. RYAH uses high-tech disposable medicinal cartridges that have embedded QR codes in order to identify the cartridge’s contents. Coupled with the RYAH application, the RYAH system provides users with the ability to track which cartridges work best for their specific needs and collects data for growers, pharmacies, laboratories and pharma companies. The data is integrated into our big data AI platform, identifying correlations between cannabinoids and medical indications.
“The market is saturated with recreational vaporizer options; however, current products lack the sophistication to create a personalized, accurate dosing and feedback experience,” concluded Mr. Wagner, who reiterated that the state-of-the-art RYAH apparatus comes accompanied with a mobile app that puts the patient or medical practitioner in total control and enables them to collect information to track usage and results.
Several distribution agreements have already been struck with pharma companies in the United States and Canada, and RYAH is targeting entering into similar agreements in Europe and the Asia-Pacific region in due course.
Certain statements contained in this press release constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate to the Company, including: successfully being awarded a Health Canada accreditation; a Health Canada accreditation opening up markets to RYAH; Health Canada accreditation legitimizing the consumption of cannabis with RYAH; 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.
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