MyDx Enters Into An ~$80,000 MyDx360 SaaS Licensing And Services Agreement With Retailer BlackSwan
SAN DIEGO, June 19, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB: 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 they report it alleviates, today announced a definitive agreement with BlackSwan, a developer and retailer of custom vaporizers, to provide a community engagement software platform to support its new product development initiatives under the terms of MyDx360.
Licensing Agreement Provides for Branding on Multiple Delivery Mechanisms
As part of the MyDx360 agreement, BlackSwan chose from one of MyDx's base chemical formulations that best alleviated pain and inflammation according to the MyDx community. From there, MyDx software enabled BlackSwan to "boost" that formula by changing various cannabinoid and terpene parameters as well as other natural organic terpenes to come to a final formula uniquely formulated by BlackSwan.
"This uniquely positions MyDx at the center of a revolution in how therapies are developed utilizing chemicals found in cannabis and other naturally occurring plants. The MyDx360 platform makes it incredibly easy for market players to create new high quality tailored formulations that can support their customer's needs. It also speaks to our ability as a company to execute on our vision of creating a brand centric ecosystem powered by community driven data. We look forward to supporting BlackSwan and the development of the I+huntr brand personalized for high performance athletes and powered by MyDx360," said Daniel Yazbeck, CEO of MyDx.
MyDx will continue to work with BlackSwan to support the development of new formulations, which will be manufactured in the form of concentrates via state licensed suppliers, and then delivered via MyDx's hardware, the ECO Smart Pen, and supplements tailored to performance athletes. Once products have been delivered via MyDx's manufacturing partnerships, the MyDx App will provide customer-engagement support to acquire and analyze user feedback.
BlackSwan to Launch I+huntr Brand for High Performance Athletes
BlackSwan intends to market its unique formula under the I+huntr Brand to athletes seeking alternatives to traditional opioid pain killers, among other ailments an area the company has significantly researched and thinks will grow into a substantial market, especially as cannabinoid and other natural plant extract therapeutic use becomes more widely accepted.
"We see this as an opportunity to develop a quality product and reduce the time to market for the Delivery Pen and Supplement markets with targeted formulas we can brand and sell," said BlackSwan CEO, Jeff Lau. "Moreover, we think there's significant opportunity in this space to differentiate, capture market share and truly offer products that might help alleviate specific ailments or side effects as defined by cannabis users and we're excited to be working with the foremost authority on the subject in MyDx."
BlackSwan intends to have its products available for sale by January of 2018 with an initial launch in the State of California, which represents close to 50% of the US cannabis market. The company will offer its products in three distinct organic flavors (Orange Crush, Blueberry and Mint), which will target various levels of recovery based upon cannabis user formulas addressing their anxiety, pain management, recovery, and performance.
Cannabis Offers the Potential to Curb the Opioid Crisis Among Athletes
Addiction to pain killers is Youth Athletics' dirty little secret as young men and women vie for prestigious college athletic scholarships and eventually elite status as professionals. The abuse is well documented among athletes; however, little to no alternatives have been provided that have the dual potential of alleviating their addictions as well as providing inflammation and pain relief.
In an article by Sports Illustrated titled "How painkillers are turning young athletes into heroin addicts", SI covered the tragic story of Roman Montano, a high school baseball Phenom who was destined to be a star and, at one time, started over current Phillies Ace, Ken Giles. Unfortunately, that story would never came true. A foot injury would lead to an OxyContin addiction that would eventually transform him into a heroin addiction. That heroin addiction would end that young man's life at a tender age of 22.
Unfortunately, we'll never know what might have been had Roman remained healthy, and it's a story that hasn't been lost on BlackSwan CEO Jeff Lau.
"This is a topic that many people aren't talking about because it's a bit taboo, there's big money involved and there's immense pressure to perform when injured," said BlackSwan CEO, Jeff Lau. "Fortunately, the chemicals in cannabis have shown tremendous promise in its ability to alleviate pain and inflammation in much of the same way as opioids, but without the propensity for addiction, and with the potential for additional health benefits, which are still undergoing studies."
The reality is that since cannabis is still a Scheduled I drug federally, many people who would otherwise have alternatives to opioids can't get them. Moreover, if they decided to use cannabis as an alternative, then they could potentially violate substance abuse policies that currently exist in all levels of athletics and that could have severe consequences, financial or otherwise.
The good news is that formulating cannabis with ingredients that have healing factors without the "high" associated with cannabis (namely CBD and various Terpenes) is gaining wider-acceptance and could potentially one day be the drawing line that many athletes have hoped for. This is exactly the area BlackSwan intends to focus on with the help of MyDx.
CBD and Terpene Formulations Have Demonstrated Anti-Inflammation Properties
CBD has been reported by various publications and research reports to be a cannabinoid known for its extensive therapeutic value. It is a powerful anti-epileptic, anti-depressant, anti-inflammatory, anti-nauseate, sleep aid, muscle relaxant, sedative and anti-proliferative. Some people call it the "Miracle Drug." What makes it popular among users is its non-psychotropic properties, meaning it does not give you the "high" that you feel when you consume THC. As a result, it can also be administered at relatively high doses without any known undesired psychological side effects.
Terpenes are naturally occurring compounds that give plants and flowers their unique smell. In cannabis plants, terpenes originate from the same glands that produce THC, CBD and other cannabinoids and assist the effects of cannabinoids by also interacting with endocannabinoid system in people, otherwise known as the "Entourage Effect." Terpenes with anti-inflammatory and pain reducing properties include Caryophyllene, Linalool, and Pinene, to name a few.
To learn more about the cannabinoids, terpenes, the entourage effect, and the science of how they all interact to impact our physiology, please refer to Part 3: Cannabis 2.0 on page 17 of the MyDx White Paper.
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(TM) and CannaDx(TM) 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.
Forward-Looking Statements
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.
Investor Contact:
MyDx Shareholder Communications
800.814.4550 ext. 4
ir@cdxlife.com
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SOURCE MyDx, Inc.
