Revive Therapeutics (TSXV:RVV; OTCQB:RVVTF) announced it has tapped the services of Datametrex AI Limited’s (TSXV:DM) subsidiary Nexalogy Environics to develop the AI component in Revive’s proprietary patient-focused program enabled by blockchain technology dedicated to the medical cannabis industry.
As quoted in the press release:
“We are excited to work with Revive to develop their proprietary patient-focused program for their commercialization efforts in the medical cannabis sector. We believe there is a massive opportunity in developing unique technology solutions for all constituents in the medical cannabis sector and their proposed medical cannabis patient-focused platform that includes an AI component is one example of the many sector opportunities Nexalogy can target,” said Andrew Ryu, Chairman and Chief Executive Officer of the Company.
Under the terms of the Agreement Datametrex will receive an upfront license fee along with monthly fees. Datametrex will grant to Revive a non-transferable, non-sub-licensable, and non-exclusive licence to use Nexalogy’s proprietary AI solution, solely to obtain insights and intelligence of medical cannabis user experience expressed on social media. The duration of the Agreement is for six months and the Agreement may be extended at the request and acceptance by both Datametrex and Revive (the “Parties”).