Data Insights for the Global Medical Plant Industry
This RYAH Medtech Inc profile is part of a paid investor education campaign.*
RYAH Medtech Inc. has developed a digital ecosystem that leverages the internet of things (IoT) and patented artificial intelligence (AI) technology to create a data-driven service for the medical cannabis industry. RYAH’s dose-measuring vaporizer not only allows patients to control their dosing but also helps improve and optimize dispensary and licensed producer business models by sharing HIPPA-compliant data on strain consumption.
The vaporizer device is a one-time buy, but the cartridges are purchased by dispensaries, licensed producers and pharmacies, ensuring a recurring revenue stream. Each cartridge also contains a QR code that patients scan before each consumption session that captures lab results of the cannabis strain. The strain data and user consumption information from each session is then shared with the dispensary or licensed producer, which can assist in both patient care and strain cultivation techniques.
RYAH also intends to offer its vaporizer and data analytics platform to doctors, hospitals, pharmacies and clinics. By sharing the data, the company can help physicians and patients personalize treatments, ensuring effective relief from ailments and pain.
RYAH has produced 100,000 cartridges and 1,200 devices, launched sales in the US and expects to be selling its products in storefronts in Canada this year. The company’s recently acquired medical establishment license from Health Canada for its cartridges, which gives it more credibility as a medical cannabis data provider in North America. The licenses are expected to help facilitate RYAH’s entry into the European and Asia-Pacific medicinal cannabis markets in 2020.
RYAH Company Highlights
- RYAH utilizes a recurring, commercial-stage revenue model with a multi-prong strategy to generate revenue.
- First AI system to fingerprint cannabinoids and map for medical conditions
- Substantial IP portfolio with six global patents pending.
- Owns a highly-recognized brand that has drawn media attention and prestige in the medical CBD and cannabis market.
- RYAH’s database contains over 180,000 patients and participants.
- RYAH has produced 100,000 cartridges and 1,200 devices to date.
- Vaporizer sales launched in the US in July 2019.
- Received Health Canada medical establishment license in June 2019.
- Secured strategic relationships in the US, Canada, Australia and the UK after entering the commercialization stage of its smart vaporizer and cartridges.
RYAH’s Business Model
RYAH uses a B2B business model to provide data-driven insights. The company has developed a patented AI platform that aggregates and correlates HIPAA-compliant medical data to help doctors and patients personalize medical cannabis prescriptions to manage treatment outcomes better.
The company also offers this data to doctors, dispensaries, growers and licensed producers to monitor and manage the complexity and types of strain effects on patients. RYAH also helps dispensaries and licensed producers create a recurring revenue ecosystem by offering disposable cartridges to its partners. The company sells its vaporizers in a wholesale business model to its dispensary partners who then fill the cartridge with the desired cannabis strains.
RYAH has commenced the commercial-stage of its operations. To date, the company has produced 100,000 cartridges and 1,200 devices and products hit the shelves in the US in July 2019. The company expects to be selling its products in storefronts in Canada by the end of the year. RYAH is also looking at entering the European and Asia-Pacific medical cannabis markets in 2020.
RYAH is targeting two markets: global medical cannabis delivery systems and subsequent AI and data intelligence. According to Adroit Market Research, the global medical cannabis market is expected to reach US$56.7 billion by 2026. The market is expected to continue to rise as more flower-derived products are developed to control the symptoms of various diseases and ailments.
The global data analytics market is expected to surpass US$77.64 billion by 2023, according to Market Research Future. The global data intelligence market is seeing increased interest in the medical cannabis market due to its insight regarding patients and consumers. By providing medical institutions, clinics, dispensaries and licensed producers with strain lab results that are cross-referenced with user consumption and feedback data, these entities can make informed decisions in terms of patient care and treatment as well as strain popularity and effects.
RYAH: A Dose-Measuring Vaporizer
RYAH is the first dose-measuring vaporizer that is designed to improve and optimize dispensary and licensed producer business models by sharing HIPAA-compliant data on patient strain consumption. The company helps its partners build a recurring revenue model by using RYAH proprietary smart cartridges and by providing data to help with strain planning based on patient recommendations.
The vaporizer device can store cannabis lab results, measure patient inhalations sessions in real-time and capture instant feedback for dose management and prescription optimization. Through the device, patients can fine-tune their dosing session by selecting the ideal temperature and setting limits on how much they will inhale.
How it works
Through the vaporizer cartridges, RYAH can help licensed producers track their strains. Each cartridge comes with a QR code that patients scan before consuming. For patient safety, the RYAH device will not function without its QR codes, which require complete lab results to be issued, ensuring that illicit products cannot enter the device. The QR code also collects important strain data which can be used to generate data for doctors, dispensaries and licensed producers. The cartridges are disposable and prefilled as well as discrete and childproof. The disposable nature of the cartridge ensures that customers will continue to go back to the dispensary or licensed producer for refills.
The RYAH vaporizer in conjunction with its PotBotics applications is a unique digital analytics solution that leverages both peer-reviewed research and real-time dosage feedback to recommend strains that are best suited to treat a patient’s symptoms. The vaporizer data and AI-powered research are built on the AWS elastic cloud infrastructure and follow HIPAA-compliant data protocols.
RYAH aims to be a dominant data intelligence provider for doctors, hospitals, pharmacies and clinics. Through the company’s AI and machine learning tools, RYAH is expected to create a predictive analysis that is monetized for the business intelligence market.
RYAH is working on several new products, including a next-generation vaporizer that is compatible with oil-based products; a smart patch that allows patients to turn dosing on and off with their mobile device and a dose-measuring tincture pen.
RYAH is also supplying an international clinic with approximately 100,000 dose-measuring vaporizers and several million cartridges over five years. The vaporizers are expected to be part of one of the world’s largest and most comprehensive clinical trials for cannabis-based medicine. The clinic plans to conduct a clinical research program on the safety and efficacy of cannabis and hemp on patients suffering from chronic pain when using the RYAH vaporizers. The clinic plans to submit its findings to its national health regulator to advance the industry’s understanding 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 RYAH CEO Gregory Wagner. “By using our best-in-class vaporizers, cartridges and customized software capabilities, the clinic can capture medically-relevant seed-to-consumption data on its cannabis-based treatments, which can then be analyzed to assess the safety and efficacy of medical cannabis, with the goal of advancing evidence-based policymaking.”
RYAH’s Management Team
Boris Goldstein, Ph.D. — Founder and Chairman
Dr. Boris Goldstein is a seasoned entrepreneur, venture capitalist and investment banker. He started his career in 1989 as founder of Software House HT, a startup technology company, which he developed into a worldwide corporation with over 40 offices in 17 countries. Since then, he has founded and served on the board of directors and advisory boards of numerous companies in Silicon Valley and Silicon Alley, including Trans Global Ventures Group, Intelligent Video Systems, Visisys Holdings Plc., E-Trade Eurasia, Pacific Petroleum Technologies, E*Forex, Solby, CBSF Capital Management, CBSF International Fund, CBSF, Daldaris, Pacific Venture Fund and FRB. During this period, Dr. Goldstein was involved in dozens of financing totaling over $700 million in consolidated debt, equity and ADR instruments. He brings experience in fundamental research, investment and technologies and is the author of multiple patents and books.
Gregory Wagner, MBA — CEO
Greg Wagner is a former financial markets global head and intrapreneur with over 20 years of experience. He has held executive roles in both the US, as CEO of ABN AMRO’s broker dealer, and in London, as Head of Equity Prime Services for the Royal Bank of Scotland where he oversaw $60 billion in assets under custody. He has co-founded and built several startups from the ground up. Wagener holds FINRA Series 7, 63, 24 and 55 licenses. He has an MBA in Finance from Fordham University and has received a Certification in Innovation and Strategy from Harvard University.
Mark Corrao — CFO
Mark Corrao has over 45 years of experience in financial management with a proven track record of raising capital and has been instrumental in the initial registration of numerous public companies. He has developed, authored and presented numerous business plans, cash management and investment strategies.
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