RYAH Group, Inc Publishes Report on Medical Cannabis Use for Pain
TORONTO, June 10, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- RYAH Group, Inc. (CSE:RYAH) (“RYAH” or the “Company”) is pleased to announce that its wholly owned subsidiary, RYAH Medtech Inc. ("RYAH Medtech"), has published a data report on use of medical cannabis among patients with pain conditions. The data report features insights into the use of cannabis to treat pain conditions by patients within the RYAH Data ecosystem and whether cannabis may be one of the alternative treatment solutions to reduce opioid use-related problems associated with existing treatment options. The publication is based on user feedback provided by more than 40,000 patients that have reported to the RYAH Data ecosystem.
The report provides a breakdown based on patient gender, main conditions related to pain management and corresponding strain types and reveals that pain is one of the top three conditions for medical cannabis treatment within the RYAH Data ecosystem and also seems to be one of the most interesting symptoms for researchers. As of the date hereof, one of the world’s largest clinical trials in cannabis is focused specifically on pain management, and further to RYAH's recent press release, the RYAH Smart Dry-Herb Inhaler has been selected as the device for such study (with RYAH Medtech recently having completed its initial shipment of RYAH Smart Dry Herb Inhalers and RYAH Cartridges to the U.K. clinic conducting the study).
“The RYAH data report on cannabis use for pain management comes at a turning point as studies on alternatives to opioids in treatment and potential efficacy of chronic pain start to accelerate,” says Gregory Wagner, CEO of RYAH. “The opioid crisis, which began with initially good intentions to more effectively treat pain, created a flood of opioids being prescribed, up from an estimated 70 million prescriptions in the 1990s to more than 255 million by 2012. RYAH is committed to providing the tools needed to effectively monitor and measure dosing in plant-based medicine treatments and to providing data analytics in order for the industry to make more informed decisions around alternative treatments to opioids."
About RYAH Group, Inc.
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 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.
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 (i) cannabis as a possible alternative treatment option for various pain conditions; (ii) the previously announced study undertaken by the U.K. clinic on the safety and efficacy of cannabis and hemp for the treatment of patients suffering from chronic pain; and (ii) the size of the medicinal cannabis market. 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 and its subsidiaries' product offerings and/or for cannabis as a potential alternative treatment option for various pain conditions; (iii) current and future economic conditions will neither affect the business and operations of the Company nor its ability to capitalize on anticipated business opportunities; and (iv) the previously announced study undertaken by the U.K. clinic has the potential to lead to results beneficial to the Company's business, 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, readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking information reflects the Company’s current views and intentions with respect to future events and current information available to the Company and is 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 risks include, without limitation, risks associated with or inherent in (i) the general business and economic conditions in the regions in which the Company operates; (ii) the ability of the Company and its subsidiaries to execute on key priorities (including completion of acquisitions and strategic plans and the retention of key executives); (iii) the ability of the Company to integrate newly acquired businesses; (iv) the expected benefits of RYAH’s user-generated, HIPAA-compliant data and the anticipated results and experience users may receive from using RYAH products; (v) the Company's ability to implement business strategies and pursue business opportunities; (vi) disruptions in or attacks on (including cyber-attacks) the Company’s information technology, internet, network access or other voice or data communications systems or services; (vii) the evolution of various types of fraud or other criminal behavior to which the Company is exposed; (viii) the failure of third parties to comply with their obligations to the Company or its affiliates; (ix) changes to, or the application of, laws and regulations, legal and regulatory risks inherent in the cannabis industry; and (x) cannabis-related products manufactured for human consumption (including potential product recalls). Should any such 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. The forward-looking information included in this press release is made as of the date of this press release and is expressly qualified in its entirety by this cautionary statement. The Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
This press 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 is 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 press release or ascertained the underlying economic assumptions relied upon by such sources.