NEW YORK, May 25, 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 completed initial shipment of its proprietary Smart Dose-Measuring inhalers for use in a pilot study conducted by CLINN medical center in Milan, Italy. CLINN, the first and only cannabis-specialized clinic in Italy, named the best cannabis clinic in Europe by CanEx, is launching an observation study using RYAH devices in order to collect accurate patient feedback on consumption of cannabis strains available on the Italian market (Bedrocan from the Netherlands, Aurora from Canada and FM2 from Italy’s national military production).
With 30% growth over the last year, Italy remains the second-largest market in Europe with more than 20,000 patients, which makes it a priority market for RYAH Group, Inc. Italy has also been a strong market for CBD products, boasting a national market of €786 million – 11% of Italians surveyed by New Frontier Data had purchased CBD products – and huge growth projections for a CBD market potentially worth €1.29 billion by 2025.
“We are delighted to bring RYAH Medtech's Smart-Inhaler to the CLINN network and support CLINN in integrating their data collection software. The combination of dose-control and data analytics with CLINN's extensive acumen in plant-based medicine research will set a new standard in cannabis therapies in Italy,” says Andrea Ferrari, RYAH’s European Business Development Manager.
Dr. Annunziata Lombardi, regulatory and pharmaceutical counselor [CC1] for RYAH in Europe, added, “This joint effort with CLINN will also help RYAH in collecting valuable feedback from patients to constantly improve the product, as well as obtaining feedback from the Italian pharmacists to validate and launch innovative cartridge filling models to be successfully rolled out to all pharmacies in Europe.”
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 patients and demographics. With a strong IP portfolio, RYAH gathers deep and insightful data on the complete patient session and formulation life cycle.
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. Forward-looking statements in this news release include statements relating to RYAH Medtech’s intention and ability to complete the development and distribution of RYAH Smart Inhalers on the terms and conditions set out in the Agreement; the potential effects of the Agreement and partnership with DelleD SAS on the business of RYAH; and statements regarding the sale of RYAH’s products. While RYAH considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.
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 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 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:
Sofiya Kleshchuk
Client Relations
+1 917 210 0543
Invest@ryahgroup.com
Gregory Wagner, CEO
917 210 0543
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com