RYAH Medtech Inc. Signs Exclusive Distribution Agreement and Software Development Agreement ...
NEW YORK, May 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – RYAH Group, Inc’s (CSE:RYAH) (“RYAH” or the “Company”) wholly-owned subsidiary, RYAH Medtech Inc. (“RYAH Medtech”), announces it has signed a definitively exclusive software development and product distribution agreement with its French partner, DelleD SAS, for the distribution of the RYAH Smart Inhaler. The strategic agreement further defines the previously announced arrangement with DelleD to distribute RYAH Smart Inhalers in the territory of France and participate in the upcoming tender for the French government’s national experiment on patient use of medical cannabis.
The 2-year experiment, overseen by the French Health Ministry and the French Agency for the Safety of Medicines and Health Products (“ANSM”), involves up to 3,000 patients who will be prescribed medical cannabis treatments and monitored by the ANSM. The nationwide experiment is being undertaken to gather data about the effectiveness and safety of therapeutic cannabis with an eye toward eventual legalization and distribution.
RYAH also announces its launch of customized software solutions including dedicated mobile applications and data analytics for clinical studies, cannabis growers, LPs, MSOs, ancillary device companies and wellness operators.
“In addition to distribution of the proprietary devices and accessories, the deal involves a Statement of Work (SOW) for RYAH to develop customized software for DelleD that would cater to the French patients who intend to use and track their plant-based therapies via DelleD,” said Jordan Medley, head of Product Operations at RYAH, noting this project is the second customized software development order for the Company. “Providing a robust data collection mechanism ensures more comprehensive patient feedback - and, consequently, accurate clinical trial results.”
“With this announcement, RYAH Group officially launches its mobile application and data analytics solutions to the global cannabis and wellness community. Our team of software developers and designers have mastered the craft and we are pleased to offer this customized service to a wide range of clinics, growers, device companies and more,” said Gregory Wagner, CEO of RYAH GROUP, Inc.
The global digital health market size is expected to reach USD $295.4 billion by 2028 and is projected to expand at a CAGR of 15.1% over the forecast period. By 2025, it is anticipated that several nations, including France and the U.K., will have significantly developed patient access to medical cannabis, representing a significant share of the European market.
About RYAH Medtech, Inc.
RYAH Medtech Inc. (‘RYAH’) is a connected device and big data and technology company focused on valuable predictive analysis in the global medical plant and nutraceutical intake industry. Its robust artificial intelligence platform aggregates and correlates HIPAA-compliant patient data, which is intended to help doctors and patients personalize plant-based treatments to better predict treatment outcomes. The data collection is relevant for clinics, doctors, dispensaries and pharmaceutical companies and Licensed Processors (LPs) to monitor and manage formulation effects on patient and demographics. With a strong IP portfolio, RYAH gathers deep and insightful data on the complete patient session and formulation lifecycle.
DelleD SAS (‘DelleD’) is a French biotech company specializing in plant production optimization through lighting and AI, and cannabis-based medicine development. DelleD is developing innovative extraction methods, cannabis genetic and production optimization, and galenic formulations with leading-edge public and private laboratories, and is already performing a preclinical trial in oncology. DelleD is also working on a clinical trial to be started in 2021. With a vertically integrated approach, DelleD has been in contact with the Ministry of Agriculture since 2017 to perform R&D on cannabis plants and to install a French excellence R&D center to develop its IP portfolio and provide innovative medical cannabis-based products.
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 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 benefits of RYAH’s user-generated, HIPAA-compliant data; the success of its launch in Europe; RYAH’s plan to rollout several other clinical delivery mechanisms; the results users may receive from using RYAH products; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyberattacks) 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; legal and regulatory risks inherent in the cannabis industry; risks relating to the regulatory landscape in certain countries and enforcement related to cannabis, including political risks; risks relating to anti-money laundering laws and regulation; other governmental and environmental regulation; public opinion and perception of the cannabis industry; risks related to proprietary intellectual property and potential infringement by third parties; risks inherent in an agricultural business; risks associated to cannabis products manufactured for human consumption including potential product recalls; 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.
RYAH Medtech Inc Contacts:
+1 917 210 0543
Gregory Wagner, CEO
917 210 0543