RYAH Holds Course for Public Listing, International Market Penetration
Ash Stringer
July 23rd, 2019
App, Exclusive, News, Top Story
Every month, RYAH Medtech Inc. checks more boxes that keep it on track for major milestones, namely becoming a public entity and building a global footprint for the world’s first dose-measuring vaporizer and associated products. June was a particularly productive month for the NYC-based company with a letter of intent (LOI) for a merger, entrance into the Canadian markets and a blessing from European regulators for the eponymous vaporizer.
RYAH is a big data and technology company focused on using artificial intelligence and HIPAA-compliant medical data aggregation for predictive analysis in the global medical plant intake industry. The combination of the company’s vaporizer, mobile application, QR-enabled cartridges and other technology provide actionable insight to doctors, patients, licensed producers, dispensaries and others in the plant-based products market from seed to consumption.
The company, which also offers white label services, has a closed-loop system (razor/razorblade model) where its cartridges only work with its vaporizer.
CSE: Here Comes RYAH
Potbotics Inc., is the parent company of RYAH, has made its intentions known with a goal of a listing on the Canadian Securities Exchange during the third quarter of 2019. The company looks to be making good on that promise after last week disclosing a LOI with Quebec-based Prime Blockchain Inc. that lays out a plan for a reverse takeover in which Prime will acquire all the outstanding shares of Potbotics, effect a name change to RYAH and turn the board over to Potbotics.
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“This new [LOI] was executed for the purpose of accelerating our listing plans on the CSE and further reflects our commitment to provide liquidity, transparency and new opportunities to strategic partners, future investors and current investors alike,” said RYAH CEO Greg Wagner in a statement on the agreement.
“The company is also currently considering a U.S. listing, which may be as early as the second quarter of 2020.”
Investors Hungry for Vape Tech
Judging by industry activity, there is serious demand for vaporizer technologies. Looking to bolster its product development capabilities, Canopy Growth (NYSE: CGC) (TSX: WEED) in December paid C$220 million in cash to acquire Germany’s Storz & Bickel, a recognized pioneer in the vaporizer space.
Tel Aviv-based Syqe Medical has raised over $80 million, including closing the latest round of $50 million in December. The company has partnered with Teva Pharmaceuticals (NYSE: TEVA), which will market and distribute the Syqe Inhaler in Israel, where regulators last month approved the drug delivery device for precise dosing of cannabis.
In April, Pax Labs, a maker of vaporizers based in California, set a record for an equity financing by a U.S.-based cannabis company, raising $420 million from new and existing investors.
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International Markets
RYAH is a commercial-stage company that has already produced over 100,000 cartridges and 1,200 devices. With a U.S. product rollout slated for this quarter, management is looking ahead to Canada next. Currently, a medical device establishment license application is pending with Health Canada for RYAH’s commercial-grade cannabinoid cartridges.
In June, RYAH officially made its move into the Canadian market, partnering with Northern Green Canada for the distribution of the RYAH-branded dose-measuring dry herb vaporizers and dry herb cartridges throughout the country.
Teaming with Northern Green Canada not only provides RYAH with access to the Canadian markets, but overseas as well owing to the licensed producer’s strong European ties. This lands squarely in the playbook for RYAH, which was targeting entrance in the European markets during the first quarter of 2020.
To that point, RYAH last month received a CE mark for its vaporizer and integrated technology.
The company believes that a CE marking is integral to product expansion, as it signifies that the company declares that the vaporizer conforms to applicable health, safety and environmental protection standards for products sold in the European Economic Area.
“The user-generated, HIPAA-compliant data that RYAH collects is expected to be instrumental in enabling physicians to make educated recommendations to help patients optimize their relief and avoid possible negative experiences from medicating with plant-based medicine,” commented Jordan Medley, RYAH’s Head of Product Operations, on the CE mark.
Medley continued that the company expects “to shortly initiate its launch in Europe.”
Filling a Void
Vaporizer technology isn’t exactly new, but it did have a critical shortcoming in that dosing was not standardized or controlled. With the emergence of cannabidiol, or CBD, as a legal means for treating a wide array of maladies in the U.S., Canada and dozens of other countries globally, precision dosing is necessary, as is building a reliable database chock full of information on individual strains. There are only a handful of companies, like Syqe and RYAH, that are addressing this unmet need with precision dosing.
For its part, RYAH has taken things to the next level by creating a comprehensive ecosystem and a real-time data analytics solution for use throughout the life cycle of a plant-based product.
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