NEW YORK, Feb. 24, 2020 (GLOBE NEWSWIRE) -- RYAH Medtech Inc. (“RYAH”), announced today that it is preparing for the launch of a patented, Bluetooth-enabled transdermal-patch, designed to collect patient dosing and medical composition information and be fully integrated into RYAH’s HIPAA-compliant data analytics platform. The new IoT device will be comprised of two parts: 1) a disposable, slow-release patch membrane which can contain several formulations of either plant-based or non-plant based medicine to treat a variety of medical indications, and 2) a re-usable, re-chargeable “brain” that can control the dose of each patch via a smartphone app. This innovative, new device is intended to dramatically expand the treatment options that RYAH can offer, as well as to broaden and improve the critical data analytics associated with patient medicine intake.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/46f68236-e614-46ff-97cf-a080f0cdd0fd
Controlling the release rate of each disposable patch is made possible by the Bluetooth-enabled “brain”, which can be activated by the Smart Patch app to gently heat the skin to a specific temperature in order to increase the medicine absorption rate into the bloodstream. The app can subsequently be used by doctors, clinics and their patients to track the effects of each use with the patch, in order to learn which patch and dosing regimen is most effective for their needs.
The RYAH Smart-Patch is a reservoir style patch using pre-fabricated, commercial components from 3M’s patch membrane technology, which RYAH believes is specifically designed for patient bioavailability. At just 8mm thick, and with a rechargeable battery life of more than 24 hours, the water resistant Smart Patch is designed to be comfortably and discreetly worn by patients for all day relief in any set of conditions, including both in the pool and in the shower.
“The Smart Patch is the latest RYAH MedTech device that we believe helps clinics, doctors, and patients take greater control of their plant-based medicine intake for more predictable and effective results. By incorporating a temperature controlled, Bluetooth-enabled "brain" into our patch, users can create a dosing schedule directly from their phone to increase or decrease their dose on demand, while also keeping track of which product and dose works best for them. This dosing feedback, all of which is HIPAA-compliant to protect our users' privacy, will give doctors and researchers the tools to help them unlock the secrets behind plant-based transdermal medicine and make smarter, more personalized dosing recommendations in the future,” says Jordan Medley, Head of Product Operations at RYAH.
The smart patch brain is a ‘one-time’ purchase and is anticipated to launch at a much lower price point than other delivery devices - enabling emerging market economies and lower income demographics new accessibility to the RYAH ecosystem.
“The RYAH Smart-Patch was created with a vision to expand medical intake and data analytics to a much broader patient demographic such as pediatrics, sports medicine and elderly patients. Our new product is designed as a complementary alternative to inhaling vapor and other standard delivery methods, including our own RYAH inhaler. The patented Smart-Patch product is also designed to work with a wide range of transdermal patch formulations that go well beyond typical plant-based treatments,” says Gregory Wagner, CEO of RYAH.
RYAH is currently assessing formulation and distribution partners for its pre-order launch, which is expected to be in Q2 2020 and its commercial release in Q3.
About RYAH Medtech, Inc.
RYAH, the wholly-owned subsidiary of Potbotics Inc., is a big data and technology company focused on valuable predictive analysis in the global medical plant intake industry. 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 relevant for clinics, doctors, dispensaries and pharmaceutical companies and Licensed Processors (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. 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 to physicians; the success of its product launches in the United States, Canada, Europe and elsewhere; RYAH’s plan to roll-out 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 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; 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.
For further information, please contact:
Sofiya Kleshchuk
Client Relations
+1 917 210 0543
Invest@ryahgroup.com
https://ryahgroup.com
https://ryah.com