TORONTO, ON / ACCESSWIRE / November 8, 2021 / RYAH Group, Inc. (CSE:RYAH) ("RYAH" or the "Company") is pleased to announce that it has received an additional order for future shipments of hundreds of its proprietary RYAH Smart Dry Herb Inhalers and accessories to its United Kingdom-based industry partner, an international clinic undertaking one of the world's largest and most comprehensive clinical trials in plant-based medicine, following the recently-announced initial shipment.
The ordered devices will be used by a growing number of participants of the major UK based clinical trial, previously announced by RYAH. The trial is planned to engage tens of thousands of United Kingdom patients over the next 5 years, and aims to focus on studying the safety and efficacy of plant-based therapies on chronic pain.
"The additional order from the UK for the RYAH connected devices further expands our product and data footprint as the RYAH ecosystem continues to power trials, pilots and studies in plant-based medicine therapies worldwide," said Gregory Wagner, C.E.O. of RYAH Group, Inc. "We are anticipating our manufacturing operations to begin additional production runs, as we expect the UK study to accelerate orders for RYAH Smart Inhalers over the coming months."
The UK plant-based treatment market continues to gain momentum, as the UK marks a three-year anniversary of medical cannabis legalization. The market for medical plant-therapies is projected to be $1.29b USD by 2024, with over 330,000 medical users projected in the same time period.
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 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 patient and demographics. With a strong IP portfolio, RYAH gathers deep and insightful data on the complete patient session and formulation lifecycle.
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 (or the negative of these terms) 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 press release include statements relating to (i) the clinic's proposed pilot run and/or the previously announced study, (ii) the projected size of the plant-based treatment market in the United Kingdom, and (iii) RYAH's expectations with respect to its future manufacturing operations. 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 (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, 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 reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are 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 Company's ability to implement business strategies and pursue business opportunities, (v) disruptions in or attacks (including cyber-attacks) on the Company's information technology, internet, network access or other voice or data communications systems or services, (vi) the evolution of various types of fraud or other criminal behavior to which the Company is exposed, (vii) the failure of third parties to comply with their obligations to the Company or its affiliates, and (viii) changes to, or the application of, laws and regulations legal and regulatory risks inherent in the markets within which the Company and its industry partners operate). 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.
RYAH Group Inc. Contacts:
+1 917 210 0543
Gregory Wagner, CEO
917 210 0543
SOURCE: RYAH Medtech Inc.