TORONTO, April 18, 2023 /CNW/ - RYAH GROUP Inc. (CSE: RYAH) and OMNI Medical Services LLC are pleased to announce they have signed a Master Distribution Agreement, whereby OMNI will supply RYAH's innovative solutions for use in US clinical trials and research studies of medical cannabis.
Cannabis telehealth innovator, OMNI Medical Services LLC (OMNI), announced today it has signed a non-exclusive master distribution agreement, enabling OMNI to market and sell the RYAH Group's innovative products in support of clinical research trials and studies throughout the United States.
RYAH and OMNI would also like to update regarding an October 26, 2021 announcement of a non-binding letter of intent for RYAH to acquire 100% of the business and assets of Omni. Both parties agree that the potential acquisition is not of interest at this time, whereas the business synergies and collaboration potential continue to be of significant interest.
RYAH would also like to update that it has received a second comment letter from the Ontario Securities Commission regarding the Failure-to-File Cease Trade Order (''FFCTO'') issued under National Policy 11-207. The OSC have requested further clarifications on documents submitted to date, which RYAH management is working to address, hoping to obtain the revocation of the FFCTO as soon as possible. RYAH will keep investors updated with regular news releases. In the meantime, the RYAH team is working diligently to develop the business and increase shareholder value, and developing the strategic relationship with OMNI is a key example of progress.
For the past 10 years, physician-owned-and-operated OMNI has led the effort in helping patients manage their chronic pain using medical cannabis therapies. Now OMNI is poised to transition into advanced research trials for optimizing the use of medical cannabis using RYAH's unique portfolio of products.
The agreement with RYAH enables OMNI to offer the world's only Internet of Things (IoT) ecosystem to control the cannabis dosing experience, capture, and monetize valuable data. RYAH's unique technology includes the RYAH MDTM platform enabling doctors to remotely monitor and control their patients' dosing regimens using the RYAH Smart InhalerTM, an internationally certified medical device (MDSAP, ISO 13485). Users control vaping temperatures, and inhalation amounts, correlated based on marijuana strain date with specific THC and CBD doses, through the RYAH HealthTM mobile app, available from Apple and Google.
David Koyle, OMNI's Chief Executive Officer, states "RYAH's technology is the ideal suite of drug delivery, monitoring and data collection capabilities for cannabis clinical trials and research. Based on this agreement, OMNI will endeavor to supply RYAH solutions to researchers throughout the US, and OMNI is in the process of seeking FDA approval for use of RYAH products in clinical studies."
The United States DEA (Drug Enforcement Agency) and NIH (National Institutes of Health) recently announced extensive research grants for cannabis and is extending Federal licenses to applicants seeking to cultivate cannabis for research approved by the FDA (Food and Drug Administration). OMNI intends to market the RYAH products to universities and other research facilities to update and streamline patient monitoring using RYAH's products, expected to revolutionize the current method of researching how patients use cannabis and its effects through real time session monitoring of patients in their daily lives.
Dr. Ryan Lakin, Omni's Chief Medical Officer comments, "RYAH technology enables us to provide a superior level of medical services to our patients. Our doctors and patients will now have access to critical insights into the science behind how the body best metabolizes THC and CBD in various strains of cannabis, to further create personalized dosing regimens to help manage pain, stress, anxiety, and other conditions."
Omni is conducting its research in conjunction with Dr Jordan Tishler, faculty at Harvard Medical School and a world-renowned expert on cannabinoid therapies. "I'm looking forward to working with Dr Lakin and the Omni team of researchers in gathering accurate, reliable data on patients using the innovative RYAH dry inhaler and their RYAH MD app for clinical trials."
In addition to his teaching duties at Harvard, Dr Tishler is the founder of the Association of Cannabinoid Specialists, which provides fellowship programs and training modules for physician's learning about cannabinoids.
Dr. David Richards, RYAH Group CEO commented, "It's great to have Omni as a key distribution partner focused on US clinical trials, which will be crucial to continued expansion of medical cannabis availability in more states."
ABOUT OMNI MEDICAL SERVICES
OMNI Medical Services is the leading physician-owned-and-operated telehealth, cannabis clinic and certification company operating in the United States. Since its founding in 2011, OMNI has been a US multi-state leader in providing specialized professional Medical Cannabis Certifications and alternative therapies. OMNI operates its network of contract physicians to evaluate qualifying patients and provide a recommendation for State certification. OMNI currently operates in multiple states with approximately 20,000 active patients. OMNI does not grow, process, distribute or sell cannabis. It provides premium standards of care, with trusted compassionate services, exceptional efficiency, and the highest level of professionalism. For more information, visit www.omnidoctors.com.
ABOUT RYAH GROUP INC.
RYAH is a global Big Data and cannabis and other nutraceutical delivery technology company enabling valuable AI-powered predictive analytics of the efficacy of plant-based medicines and other substances administered through its IoT-connected devices including the world's only Smart InhalerTM and Smart PatchTM. Visit us at https://ryah.com.
AI: Artificial Intelligence
IoT: Internet of Things.
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
SOURCE RYAH Group, Inc.
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