TORONTO, March 08, 2022 (GLOBE NEWSWIRE) — via InvestorWire — RYAH Group, Inc. (CSE:RYAH) (“RYAH” or the “Company”) announced today that its subsidiary, RYAH Medtech, Inc., has received a Health Canada Medical Device License (MDL) for its proprietary Internet of Things (IoT) powered medical cannabis inhaler, proprietary cartridges and software application associated with the device. (the “RYAH Smart Medical Inhaler System“)
Health Canada License number 107475 allows RYAH to market its Smart Medical Inhaler System to medical patients in Canada and potentially represents a significant boost to RYAH’s growth strategy. According to Stats Canada, there are over 290,000 active, federally registered cannabis patients, while nearly 8 million Canadians (1 in every 4 citizens) live with chronic pain. Insurance reimbursement and various provincial programs such as the Ontario Disability Support Program (ODSP) are designed to reduce or potentially fully cover the cost of purchasing cannabis delivery solutions that are certified under a medical device license.
“The approval from Health Canada recognizing the RYAH Smart Inhaler System as a medical device is a major step towards achieving our global medical device footprint,” said Gregory Wagner, Chief Executive Officer of the Company. “Once again, certification for both our software and hardware puts us in a unique position to provide objective data analytics which is critical for developing highly personalized cannabis therapies. We expect the Health Canada MDL will aid RYAH’s efforts to obtain additional country specific-certifications, including New Zealand, Australia and beyond.”
The RYAH Smart Inhaler is a volume-management device for dry-herb plant based formulations. Paired with a proprietary software application, it allows users to control their session regimen, register their usage, and voluntarily provide anonymous data that can further be analyzed and used for regulatory improvements, research and awareness. RYAH recently announced its RYAH Smart Inhaler received medical device certification under ISO 13485:2016/MDSAP and EN ISO 13485:2016 directives. The Company also announced that it received a notice of allowance on Utility Patent For Its Smart Medical Inhaler System.
About RYAH Group, 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 Health Insurance Portability and Accountability Act (HIPAA)-compliant patient data, intended to help doctors and patients personalize plant-based treatments to predict treatment outcomes better. The data collection is relevant for clinics, doctors, dispensaries and pharmaceutical companies, and licensed producers (LPs) to monitor and manage formulation effects on patients and demographics. RYAH gathers deep and insightful data on the complete patient session and formulation lifecycle with a strong intellectual property portfolio. For more information, visit www.ryahgroup.com.
Forward-Looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements“). All statements contained in this news release that are not statements of historical fact should be considered forward-looking statements. Forward-looking statements are often identified by terms such as “may,” “should,” “anticipate,” “expect,” “potential,” “believe,” “intend” or the negative of these terms and similar expressions. Specifically, forward-looking statements in this news release include but are not limited to, statements related to (i) the Health Canada MDL’s purpose within, and effects on, the Company’s efforts to achieve global medical device footprint; (ii) the Company’s ability to provide objective data analytics that is critical to developing highly personalized cannabis therapies; and (iii) the completion of medical device registrations in Australia and New Zealand. Forward-looking statements reflect the Company’s current views and intentions with respect to future events based on current information available to the Company and are necessarily subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with or inherent in (i) the general business, technological, and economic conditions; (ii) the expected benefits of the Company’s product offerings and the anticipated results and experience of users thereof; (iii) the Company’s ability to execute on key priorities, implement business strategies and/or pursue business opportunities; (iv) changes to, or the application of, laws and regulations; and (v) such other applicable factors set out in the Company’s public disclosure documents available under the Company’s profile on SEDAR at www.sedar.com. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that (i) the Company’s financial condition and development plans do not change as a result of unforeseen events; (ii) there will continue to be a demand and market opportunity for the Company’s product offerings; and (iii) the current and future economic conditions will neither affect the business and operations of the Company nor the Company’s ability to capitalize on anticipated business opportunities), although considered reasonable by management of the Company at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and, as such, undue reliance should not be placed on forward-looking statements. Should any such risk 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. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur.
The forward-looking statements included in this news release are made as of the date of this news release, and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
This news release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there can be no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this news release or ascertained the underlying economic assumptions relied upon by such sources.
Neither the Canadian Securities Exchange (the “CSE“) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For additional information, please contact:
Sofiya Kleshchuk
Client Relations
RYAH Group
+1 917 210 0543
Invest@ryahgroup.com
Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
Source: Globenewswire