RYAH Medtech Expanding Internationally with Flurry of Deals
June 3rd, 2021
App, Exclusive, Top Story
A sometimes overlooked aspect of the cannabis industry is the global potential for North American companies. To be sure, the United States and Canada represent the largest and most mature legal cannabis markets, and many companies are rightfully focused on them exclusively. But some companies are set up to not only capitalize on these domestic markets but to pioneer emerging industries in the European Union and elsewhere. It’s not easy for North American companies to do business across the pond from a regulatory perspective, but companies that manage to pull it off might be worth considering due to the greatly increased addressable market.
One company that is aggressively expanding internationally is RYAH Group, Inc. (CSE: RYAH) and its wholly-owned subsidiary RYAH Medtech Inc. The company has developed a suite of smart cannabis and plant-based medicine devices designed to help everyone involved, from patients to doctors to researchers to growers, make more informed decisions based on accumulated data and analysis. Over the last few weeks, and on the heels of the company going public, RYAH has announced a few international deals that provide a look at the global potential for the business model.
Here is an overview of the company’s product offerings, data-centric model, and AI-fueled approach to deciphering that data. Short version: RYAH has developed smart inhalers, patches, and pens that allow patients to precisely control their dosing while recording their experiences by using the proprietary software that RYAH built. Prescribing doctors have access to this information, allowing them to perfect the treatment regimen in concert with the patient. RYAH assembles this data into a mass of information managed and analyzed by the RYAH Cloud data engine. The parsed data is then made available to interested parties from all angles of the medical cannabis world, helping them make better decisions based on a broad data set.
Since commencing trading on the Canadian Securities Exchange on May 10, 2021, RYAH has announced three deals in international markets. Most recently, the company shipped its proprietary Smart Dose-Measuring Inhalers to Italy where they will be used in a pioneering study of medical cannabis use there. The client is CLINN medical center in Milan, the first and only cannabis-specialized clinic in Italy. CLINN was recently named the Best Medicinal Cannabis Clinic in Europe by Canex.
CLINN is utilizing the inhalers to study medical cannabis use, utilizing the precise dosing and patient feedback functions to gain greater insight into how patients use cannabis and their experiences resulting from that use. Though CLINN is Italy’s only cannabis-specific clinic, the country represents Europe’s second largest medical cannabis market. Sales in Italy increased 30% in 2020 over the previous year in spite of the pandemic, in the seventh year of legal medical cannabis there.
In France, RYAH announced an exclusive distribution and development agreement for its inhalers with DelleD SAS. France’s government is conducting a two-year national experiment to gather data about the effectiveness and safety of medical cannabis in anticipation of eventual legalization. Here, RYAH is laying the groundwork in a potentially lucrative market while possibly participating in the government study. The company’s inhalers provide just the sort of data required for such a study, but at this point it is not certain they will be used there.
In New Zealand, RYAH has an exclusive supply and distribution agreement with Medical Kiwi Ltd., a multi-faceted and market leading medical cannabis company involved in cultivation, distribution, and device manufacturing. The deal will enable RYAH’s suite of connected IoT devices and cloud-based data analytics to be connected with Medical Kiwi’s cultivated medical cannabis formulations and patient network for pre-clinical and clinical trial settings as well as medical patient care in New Zealand. The companies are also looking at registering RYAH’s inhaler as a medical device in the country, which would be the first of its kind there.
In addition to that, RYAH has also very recently completed a shipment for a previously announced UK-based clinical trial. This 5-year study is expected to cover tens of thousands of patients suffering from chronic pain, which makes it one of the largest and most ambitious research projects to be conducted in the plant-based treatment arena.
Put It All Together
You can see RYAH’s approach to the international cannabis industry taking shape here. By partnering with prominent companies in both established and potential markets, RYAH is able to establish a presence in the early stages of development. The company is already active in Australia and is surely pursuing deals in other countries as well.
Another aspect of these deals is the addition of valuable data to RYAH’s growing database of medical cannabis information. The database already contains information from over 300,000 medical cannabis users, perhaps the largest repository of its kind in the world. Regardless of the country of origin, more data means better information for all of the users in the RYAH ecosystem. Keep an eye on the company as it continues its quest to bring order and insights from its big, smart data to the sometimes chaotic world of the emerging cannabis industry.
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