On Thursday, RYAH Group signed an MOU with Bazelet Pharma limited to provide Bazelet’s clientele with RYAH smart inhalers for cannabis consumption. The RYAH smart inhaler recently received IS0 13485 certification. The big data and the tech-focused company are HIPAA compliant.
Bazelet is the largest medical cannabis company in Israel with a clientele that includes thousands of patients. The company is known for its wide range of non-generic cannabis products that are uniquely formulated to promote health and wellness. The group plans to start to export its products to Europe and the US later in 2022.
The MOU will have Bazelet act as a sponsor to the regulatory phase of the medical device application to the Israel Ministry of Health. Upon certification, the two parties will draft a distribution agreement for the smart inhaler. Bazelet will have exclusive distributor rights for the RYAH smart inhaler plus the cartridges. This will be drafted in the commercial phase of the agreement which will span a period of five years. Performance benchmarks will be made annually as will be agreed by both parties. With this agreement, the involved parties hope to capture a good portion of the cannabis market in Israel; they are aiming for at least 5%.
Bazelet’s CEO, Meir Ariel, has expressed his enthusiasm for the collaboration. RYAH Group CEO, Gregory Wagner, is equally as excited and had this to say:
“Bazelet brings extraordinary depth and expertise within a well-established and fast-growing medical cannabis market. We’re excited to be collaborating with Bazelet in bringing our smart inhaler and data analytics into this important region.”
The medicinal cannabis market in Israel is growing in leaps and bounds. Just recently, Israel became the largest importer of cannabis, overtaking Germany. By the end of last year, the country has over 109,000 registered medical cannabis patients.