Revive Therapeutics Announces Update on Development of Datametrex Artificial Intelligence Component in Blockchain Enabled Patient-Focused Program for Medical Cannabis Sector
TORONTO, ONTARIO–(Marketwired – Dec. 4, 2017) - Revive Therapeutics Ltd. (“Revive” or the “Company”) (TSX VENTURE:RVV)(OTCQB:RVVTF), a company focused on the research, development and commercialization of novel therapies and technologies for the medical cannabis and pharmaceutical sectors, today announced an update on the development of the Artificial Intelligence (“AI”) component for Revive’s proposed proprietary patient-focused program dedicated to the medical cannabis industry enabled by Blockchain technology. This update follows Datametrex AI Limited (“Datametrex”) (TSX VENTURE:DM)(FRANKFURT:D4G) recent announcement of Datametrex’s wholly owned subsidiary, Nexalogy Environics Inc. (“Nexalogy”), entered into a license and development agreement with Revive.
Revive is aiming to incorporate Nexalogy’s proprietary social data discovery solution, NexaIntelligence, to unlock the value of data related to medical cannabis collected from social media networks and internet environments such as discussion forums, blogs and news sites. Through data mining and analytics, information aggregated from independent sources on the internet will aim to provide authentic insights and uses of cannabis on a variety of medical conditions. With its unique, easy-to-understand visuals in a highly functional interface, NexaIntelligence, is able to conduct a deep analysis of the ever-growing volume of online data of medical cannabis and catch the valuable signals that lead to strategic insights and actionable intelligence.
“We are very excited about Nexalogy’s NexaIntelligence social data software solution as it provides us with a proprietary data collection strategy and enables us to unlock the value of information, by artificial intelligence, currently being generated in numerous independent social networks and environments on the internet,” said Fabio Chianelli, President of Revive. “We are focused on building a proprietary patient-centered platform dedicated to the medical cannabis industry that will leverage the privacy, security, and information sharing features of blockchain and the data mining, predictive and machine learning features of AI with the aim to engage, acquire, retain, and support medical cannabis patients. The AI component will provide insights, analytics and recommendations that may offer significant value to licensed producers of cannabis, healthcare professionals, and clinical researchers.”
Andrew Ryu, Chairman and CEO of Datametrex added, “We are very encouraged to see our AI component provide such relevancy to Revive and the cannabis sector. This is an explosive area and we will be delivering vital data around patients.”
About Datametrex AI Limited
Datametrex (TSX VENTURE:DM)(FRANKFURT:D4G) is focused on the collection of retail sales data, providing government agencies and Fortune 500 corporations with artificial intelligence technology and implementing blockchain solutions for secure data transfers. The company is planning on integrating the DataTap environment to decentralized blockchains to further authenticate and validate the data collected. To learn more about Datametrex, visit: www.datametrex.com.
Nexalogy is a wholly-owned subsidiary of Datametrex AI Limited. Nexalogy AI solutions unlock valuable insights from social media data. Through its proprietary semantic clustering algorithms, it provides insights and analysis that are not available through traditional business intelligence technology. This technology makes data more relevant and is the missing link in providing actionable social media intelligence to governments and organizations all over the world. To learn more about Nexalogy, visit: www.nexalogy.com.
About Revive Therapeutics Ltd.
Revive Therapeutics Ltd. (TSX VENTURE:RVV) (OTCQB:RVVTF) is focused on the research, development and commercialization of novel therapies and technologies for the medical cannabis and pharmaceutical sectors. Additional information on Revive is available at www.ReviveThera.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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This news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute “forward-looking information” that involves known and unknown risks and uncertainties, which are not comprised of historical facts, and most of which are beyond the control of Revive. Forward-looking statements include estimates and statements that describe Revive’s future plans, objectives or goals, including words to the effect that Revive or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “intends”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”, and similar expressions. Specifically, forward-looking statements in this news release include, without limitation, statements regarding: the granting of a patent for Bucillamine for the treatment of gout; the potential efficacy and commercial viability of Bucillamine for treatment of gout and Bucillamine for the treatment of Cystinuria; expansion of the Bucillamine clinical testing program; the Company’s drug research and development, and commercialization plans; the Company’s research, development and commercialization plans for plant-based therapies, including cannabinoid and its delivery technology; the timing of operations; the Company’s research and development, and commercialization plans for blockchain and artificial intelligence; and estimates of market conditions. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events, performance, or achievements of Revive to differ materially from those anticipated or implied in such forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but there can be no assurance that actual results will meet management’s expectations. In formulating the forward-looking statements contained herein, management has assumed: that business and economic conditions affecting Revive will continue substantially in the ordinary course and will be favourable to Revive; that clinical testing results will justify commercialization of the Company’s drug candidates; that Revive will be able to obtain all requisite regulatory approvals to commercialize its drug candidates; that such approvals will be received on a timely basis; and, that Revive will be able to find suitable partners for development and commercialization of its drug repurposing candidates on favourable terms. Although these assumptions were considered reasonable by management at the time of preparation, they may prove to be incorrect and no assurance can be given that such events will occur in the disclosed time frames or at all.
Factors that may cause actual results to differ materially from those anticipated by these forward-looking statements include: uncertainties associated with obtaining regulatory approval to perform clinical trials and market products; the need to establish additional corporate collaborations, distribution or licensing arrangements; the Company’s ability to raise additional capital if and when necessary; intellectual property disputes; increased competition from pharmaceutical and biotechnology companies; changes in equity markets, inflation, and changes in exchange rates; and other factors as described in detail in Revive’s Management’s Discussion & Analysis for the period ended June 30, 2017 and Revive’s other public filings, all of which may be viewed on SEDAR (www.sedar.com). Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. Except as required by law, Revive disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Chief Executive Officer