Smart Devices Solidify the Critical Need for Community Participation in Generating Big Data and Formulating Cannabis Therapeutics
SAN DIEGO, CA–(Marketwired – Apr 10, 2017) – MyDx, Inc. (OTCQB: MYDX), a science and technology company and creator of MyDx® (My Diagnostic), the first multi-use handheld chemical analyzer designed for the Cannabis professional and retail consumer to correlate the chemical profile of cannabis with how it makes consumers feel and what it helps them relieve, today announced its continued advancement of its crowdsourced database and how the MyDx community is playing an instrumental role in helping medical cannabis patients find relief by identifying the right chemical formulation for their specific needs.
Smart Devices Power Preclinical Crowdsourced Data
Since cannabis remains a Schedule I Controlled Substance, researchers have been unable to administer the drug to large numbers of patients to better understand its clinical efficacy. While some companies have started small-scale clinical trials for certain ailments, there’s a growing need for a larger-scale source of consumer driven data that can support public safety, increase transparency, expand the drug discovery pipeline and improve the ability for researchers and patients to find the right chemical profiles for their individual needs.
“This reminds me of my days at Pfizer where we were looking for new ways to create Active Pharmaceutical Ingredients in a more organic fashion,” stated Daniel Yazbeck, Chief Executive Officer of MyDx. “The 400+ chemicals found in cannabis will offer researchers access to a new class of ‘green Active Pharmaceutical Ingredients’, or what I’d like to refer to as ‘gAPI’ that can arguably treat disease and help people improve their lives. The value proposition is very clear.”
MyDx launched one of its first smart devices, the world’s first handheld cannabis chemical analyzer, back in late 2015. Since the launch, the community has submitted over 40,000 unique data points that will assist in identifying which chemical profiles are treating various ailments and what side effects they are generating. MyDx is now actively analyzing this data and is looking for very specific cannabinoid and terpene ratio that can be used in formulations that help relieve the most commonly tracked ailment by the community. In the near future, the company plans to share select relevant datasets surrounding the top diseases that people are finding relief for using cannabis, as well as the integrity of specific strains or brands they are identified by.
“The ability to gather therapeutic data on a worldwide scale by tracking what people are consuming based on a chemical profile and what ailment it is helping them relieve is a benchmark that I believe will become a gold standard that will change the way we study and formulate drugs in the future,” stated Daniel Yazbeck. “As important, this process allows us tap into the basic human instinct of each member of the community to help one another by sharing their experience and results to support a drug development process that will ultimately help treat disease and improve people’s lives.”
To learn more about the MyDx analyzer and the company’s vision, please see recent documentary by HBO’s Vice News here: https://video.vice.com/en_us/video/this-app-will-test-whats-in-your-weed/58adc7f3f74cd17013a4999e
About MyDx, Inc.
MyDx, Inc. (OTCQB: MYDX) is a chemical detection and sensor technology company based in San Diego, California whose mission is to help people Trust & Verify® what they put into their minds and bodies. The Company developed MyDx®, a patented, affordable portable analyzer that provides real-time chemical analysis and fits in the palm of the user’s hand. The multi-use MyDx analyzer leverages over a decade of established chemical detection technology to measure chemicals of interest. The Company owns a substantial and growing intellectual property portfolio of patents covering its technology. The MyDx AquaDx®, OrganaDx™ and CannaDx™ sensors are now commercialized, and the AeroDx® application is next in line. All sensors will be compatible with a MyDx App that empowers consumers to live a healthier life by revealing the chemical composition of what they eat, drink and inhale. For more information, please visit www.cdxlife.com.
This news release contains “forward-looking statements” as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intends,” “goal,” “objective,” “seek,” “attempt,” or variations of these or similar words, identify forward-looking statements. These forward-looking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, our ability to complete our product testing and launch our product commercially, the acceptance of our product in the marketplace, the uncertainty of the laws and regulations relating to cannabis, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in our reports filed with the Securities and Exchange Commission, available at http://ir.cdxlife.com/all-sec-filings or www.sec.gov.