The Industry's First Child-Protected, Delivery Device Capable of Tracking Dosages
SAN DIEGO, Nov. 28, 2017 /PRNewswire/ -- MyDx, Inc. (OTC:MYDX), a science and technology company and creator of MyDx® (My Diagnostic), the first multi-use handheld chemical analyzer designed for Cannabis professionals and retail consumers to correlate the chemical profile of cannabis with how it makes them feel and which ailments it alleviates, today announced it filed patents on its revolutionary, second smart device – The ECOSmartPen™ – and is now accepting Pre-Orders.
The ECO Smart Pen™ by MyDx is a next generation, rechargeable delivery pen with Bluetooth technology capable of monitoring dosages and consumer feedback. The ECO Smart Pen also comes equipped with remote access and child safety protection via the EcoSmartPen App and is designed to help patients and consumers better manage and regulate their cannabis consumption habits, while protecting their children from unsupervised use.
A Game-Changing Innovation That Helps to Raise the Standard of Safety in Cannabis
MyDx's patents cover the delivery pen's child-safety locks, dosage control and tracking and related technologies unique to the next-generation delivery pen that monitors how many doses or "puffs" it takes for strains/formulas to take effect per individual – personalized medicine. This information is stored passively or actively, depending on the user, and is complimentary to the MyDx ecosystem, which includes its testing devices, software and services.
Since late 2015, MyDx has worked diligently to help consumers better understand what they put into their bodies and empower them to take charge of their marijuana consumption habits. Its handheld tester is used all over the world to identify and track how those strains impact its users. Approaching 3,000 testers in circulation, MyDx has built, and continues to build upon, a comprehensive database of user and consumption information that is now being used to drive policy; educate and inform industry stakeholders such as doctors, consumers, entrepreneurs, and politicians; and, promote a higher level of public safety and concern.
MyDx is the only company in the world that actively tracks and analyzes (in real time) how strains impact consumers and alleviate ailments. While this is important to the legitimacy of the industry, given the current lack of oversight, it's also a public safety concern. That's when it occurred to the MyDx Team that more needed to be done, especially for those with debilitating ailments.
"Today, doctors only offer prescriptions for medicinal marijuana, generally. They don't provide any recommendations on what to use and when and how to use it. And that's a public safety problem. We know from our data that not all cannabis is the same (not even the names), which is why our customers use our handheld testers. But the one piece of data we didn't have was knowing how much of a certain chemical profile it took to achieve its desired effect. Hence the creation of the ECO Smart Pen," said Daniel Yazbeck, CEO of MyDx. "We will not only offer patients a way to Trust & Verify® their products, but, with the ECO Smart Pen, they will be able to determine for themselves how much they need to consume to achieve their desired effect. In combination with MyDx360, doctors and administrators will also be able to better monitor their patient's habits and offer more targeted prescriptions."
Lack of Industry Research
Despite the rising tide of marijuana legalization sweeping across North America, research still lags reform, which is counter to how, generally, research informs reform. Moreover, according to KPMG's report on Improving Medical Marijuana Management in Canada, "the quality of clinical data has been inconsistent and there are significant gaps in understanding of the therapeutic efficacy for many conditions." Consequently, the industry is moving forward without complete regard to patient and public safety and that's a problem for consumers, especially those using marijuana to address specific ailments.
With the addition of the ECO Smart Pen to the MyDx Ecosystem, MyDx will capture and house the most comprehensive dataset of marijuana consumption in the world. This new data will then inform the company's foray into identifying green active biopharmaceuticals (gAPI).
How the ECO Smart Pen Works
The ECO Smart Pen™ immediately activates the MyDx App via bluetooth as soon as you inhale from any compatible brand cartridge. Once the brand information is submitted, the pen will then passively monitor your consumption habits, such as frequency of use since purchase as well as dosage.
Once you begin using the product, you'll be able to actively track which ailments the product relieved and/or feelings it generated and how many doses it took to generate those feelings and/or reliefs.
Software As A Service (SAAS)
Manufacturers, Doctors and the like will be able to use MyDx Software on a private label basis to monitor and manage their respective user groups under a subscription-based model, which will be tiered for varying levels of access to user data and analytics.
MyDx, Inc. (OTC: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's first product, MyDx®, also known as "My Diagnostic", is a patented multiuse hand-held chemical analyzer designed to help consumers and professional test for pesticides in food, chemicals in water, toxins in the air, and the safety and potency of cannabis samples, which is the initial focus of through the CannaDxTM application. CannaDx users have submitted over 40,000 crowdsourced datapoints revealing the chemical profile of the cannabis they are consuming and how its making them feel which feeds a data analytics platform, a SaaS business, as well as the biopharmaceutical division of MyDx. The company is committed to addressing areas of critical national need to promote public safety, transparency and regulation in the various markets we serve and hence its more immediate mission is to continue to develop smart devices as part of an ecosystem that crowdsources consumer generated preclinical data to drive innovation in the cannabis industry. For more information, please visit www.mydxlife.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.mydxlife.com/all-sec-filings or www.sec.gov.