RYAH and Ei.Ventures sign letter of intent to develop new delivery solutions for psychedelic research


The proposed collaboration should:

  • Assess the compatibility of the RYAH Smart Patch delivery and monitoring device, software and data platform with the proprietary psychedelic formulations from Ei.Ventures

  • Advancement of the research and development strategy of Ei.Ventures, accelerated application tests for the controlled release and monitoring of psychoactive compounds for treatments of mental wellbeing

  • Positioning companies toward a commercial licensing agreement to deliver psychedelic therapies in anticipation of government-approved mental health treatment options

TORONTO, ON / ACCESSWIRE / November 15, 2021 / RYAH Group, Inc. (CSE: RYAH) (“RYAH” or the “society“) announced today that it has issued a non-binding letter of intent (the”Letter of intent“) with Emotional Intelligence Ventures (“E.g.Ventures“), a leader in psychedelic formulations and therapeutic research. The collaboration aims to develop new delivery solutions for Ei.Ventures’ psychoactive compounds using RYAH’s intelligent devices and data analysis with the aim of advancing patient care The current global mental illness continues to address health crisis.

The signed letter of intent initiates a collaboration that is expected to culminate in the parties negotiating and entering into certain definitive research and development (R&D), licensing and distribution agreements between the parties (the “Final agreementsThe final agreements, if concluded, are intended to license certain intellectual property rights of RYAH in relation to its smart patch device and data analysis to Ei.Ventures for, among other things, R&D and potential commercialization by Ei.Ventures, certain psychedelic ones Mushroom formulations in connection with RYAH’s Smart Patch Hardware, software and patient session analysis The terms of such license and R&D agreements, including possible hardware and software adjustments, are expected to be included in the final agreements.

“This marks a new era for the RYAH Group as we seek to expand our non-medical touch technologies and treatments to support industrial partners who are active in the psychedelics markets in addition to medical cannabis,” said Gregory Wagner, CEO of RYAH. “Our state-of-the-art equipment and data analytics are designed to work with a wide range of herbal health care medicines.”

David Nikzad, CEO of Ei.Ventures, comments: “We are committed to developing next generation solutions for psychedelic therapy, with an emphasis on technology platforms capable of promoting the use of psychedelic drugs to treat the mental Providing and Monitoring Illnesses. Ei.Ventures is working to change the way mental illnesses are treated and improve the quality of life for people struggling with their mental health. The RYAH platform offers both technology and data platforms able to provide our advanced formulations and collect relevant clinical data on the use and effectiveness of our transdermal product. “

The global psychedelics market will benefit from the high prevalence of increasing mental illness and a growing number of patients with unmet treatment needs. Fairfield Market Research points out that worldwide sales in the Psychedelics Market are projected to increase 14.5% CAGR during the reporting period, as the market is $ 6330.0 million by 2026, up from $ 3,210.0 million in annualized earnings Achieved in 2021.

Forrester estimates that consumers will make around 480 million virtual health care visits in 2020, of which nearly 38% will be for mental health. The demand for virtual mental health care such as therapy and counseling is estimated at 138 million visits by the end of 2021.

About the RYAH Group, Inc.

RYAH is a connected device and big data and technology company focused on providing valuable predictive analytics in the global medicinal plants and nutritional supplements industry. Its robust artificial intelligence platform aggregates and correlates Health Insurance Portability and Accountability Act (HIPAA) -compliant patient data designed to help doctors and patients personalize herbal treatments to better predict treatment outcomes. Data collection is relevant for clinics, doctors, pharmacies, and pharmaceutical companies as well as licensed processors (LPs) to monitor and manage the impact of the formulation on patients and demographics. RYAH collects deep and insightful data across the entire patient session and formulation lifecycle with a strong portfolio of intellectual property. Further information is available at www.ryahgroup.com.

About Ei.Ventures

Ei.Ventures creates a new standard for mental wellbeing through botanical, psychedelic inspired connections, functional plant medicine and integrative technology. Our goal is to offer legal therapeutic treatment options that counteract the current global mental health pandemic. We strive to provide resources that provide critical data for further academic understanding of psychoactive compounds. In markets that allow psychedelic therapies, we expect to be able to offer a range of therapeutic products. Further information is available at www.ei.ventures.

Forward-Looking Statements

This press release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively “forward-looking statementsAll statements in this press release that are not historical facts should be viewed as forward-looking statements, “potentially,” “believe,” “intend” or the negative of these terms and similar expressions. In particular, forward-looking statements in this press release include, but are not limited to, statements relating to (i) the proposed R&D study to be conducted by EI Ventures (including the scope and timing thereof), (iii) the final agreements and expectations the Company with respect to the anticipated scope of such agreements and (iii) EI Ventures, including with respect to its proprietary psychedelic formulations, and its business goals and objectives. Forward-looking statements reflect the Company’s current views and intentions with respect to future events on the Based on current information available to the company and is necessarily subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. These risks and uncertainties include, without limitation, risks and uncertainties associated with or inherent in general business, technological, and economic conditions and other applicable factors set out in the company’s public disclosure documents, which are posted under the company’s profile on SEDAR under www.sedar.com. Readers are further cautioned that the assumptions used in preparing such forward-looking statements (including, but not limited to, the assumption that (i) the Company, all EI Ventures will be able to implement their respective business plans and any necessary Maintain approvals and permits to execute such business plans, (ii) the company’s financial condition or development plans will not change due to unforeseen events, (iii) there will continue to be a demand and market opportunity for the company’s product offerings, (iv ) EI Ventures will be successful in conducting R&D and pilot studies; and (v) Current and future economic conditions will not affect the pilot study, the business and operations of the company, or the company’s ability to take advantage of anticipated business opportunities), though this from M Management of the company at the time of preparation was deemed reasonable, inaccurate and results may vary materially from those anticipated and, therefore, undue reliance should not be placed on forward-looking statements. Should such a risk factor unexpectedly affect the company or should the assumptions underlying any forward-looking information prove to be incorrect, actual results or events could differ materially from those forecast. Corresponding. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no guarantee that the plans, intentions or expectations on which they are set will materialize.

The forward-looking statements contained in this press release speak as of the date of this press release, and the company undertakes no obligation to publicly update such forward-looking statements to reflect new information, future events or otherwise, unless required by applicable securities laws. All forward-looking statements contained in this press release are expressly limited by this cautionary notice.

Neither the CSE nor its Market Authority (as that term is defined in the guidelines of the CSE) accepts responsibility for the adequacy or accuracy of this press release.

For more information, please contact:

Sofiya Kleshchuk
Customer relationships
RYAH group
+1 917 210 0543
[email protected]

Gregory Wagner
Managing Director
RYAH group
+1 917 210 0543
[email protected]

PRESS INQUIRIES

Joshua Greenwald
KCSA Strategic Communication
+1 646 379 7971
[email protected]

Susan von Seggern
E.g.Ventures
+1 213 840 0077
[email protected]

SOURCE: RYAH Medtech Inc.

View source version on accesswire.com:
https://www.accesswire.com/672867/RYAH-and-EiVentures-Enter-Into-Letter-of-Intent-to-Develop-New-Delivery-Solutions-for-Psychedelic-Research


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