Investor Ideas Potcasts, Cannabis News and Stocks on the Move: Interview with CEO of Strainprint Technologies at ICBC Conference in Vancouver. @IntlCBC
Delta, Kelowna, BC - September 20, 2019 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today's edition of Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
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Investor Ideas #Potcasts, #Cannabis News and Stocks on the Move: Interview with CEO of Strainprint Technologies at recent ICBC Conference in Vancouver. @IntlCBC
In today's podcast I interview Andrew Muroff, CEO of StrainprintTM Technologies, the leader in demand-side cannabis data and analytics, at the ICBC Conference in Vancouver. We discussed some of the data trends being noticed through Strainprint as well as the potential future uses of this technology and data.
StrainprintTM was created by patients for patients with a mission to advance the scientific understanding of cannabis and its legitimization as a mainstream therapy. StrainprintTM is aslo privacy compliant, military-grade encrypted and all patient data is completely anonymized and at rest in Canada.
When discussing who is showing interest in Strainprint's data and analytics, Andrew commented on the company's most recent news with Health Canada. "I'm very proud to report that after a long discussion period we now have Health Canada as a customer looking at our data. So we now have Health Canada looking at the data, as well as various medical associations, some of the largest producers and pharmacies all looking at our data and our technology."
Not only are patients and practitioners utilizing the company's data but Andrew also commented on the interest of producers as well. "As an example, a licensed producer can't go to a doctor and say my product does this, they can't make a claim. But what they can say is, 3000 patients have used my product 60,000 times on Strainprint and this is what they said. That type of data, while it is patient reported, it's real time and it's very accurate when you're thinking about the tens of thousands of users and millions of reported outcomes."
Andrew continued to discuss the changing attitude of producers in the Canadian market saying, "we started to see great traction in late 2018. Then the legalization of recreational cannabis sort of through a wrench in a bunch of things. Producers kind of got caught in asking "do we sell medical or do we sell recreational" and there wasn't enough supply so they were taking medical supply and putting it in recreational. Now we're seeing that they understand the effect that's had on margins. They're all coming back around now and are all starting to realize they have the ability to look beyond just POS data, but to be able to see what other producers are selling and what might be better from a competitor then what you're producing."
Andrew also discussed the company's interest in international expansion stating, "we've already begun to look elsewhere. The product is privacy compliant in both Canada and the U.S. and we are about to be privacy compliant in Europe. We will be the only ones who are privacy compliant in Europe. We are very actively engaged in discussions in Germany and the U.K. We have also started a foray into the U.S. As you know in the U.S., each state is an island so we are going state by state. Florida is our first state and we have big traction there and are now beginning to track Florida products. But we are very cautious about the U.S. Not because we don't think it's going to be a great opportunity, just because it's a big investment for a small company like us to make if we're unsure about the market."
Strainprint recently began putting out their new product Strainprint Reports and Andrew discussed what we can look forward to in the coming months. "We're just launching right now, what we call Strainprint Reports. It's another way for us to leverage the data that we've captured and you can expect to see a bunch of these out in the market very soon. The first reports that we put out were symptom specific. The first one was on insomnia, so looking at our data right now around sleep symptoms. We've also published a report on those patients who use cannabis in addition to polypharmacy, meaning more than one pharmaceutical, and seeing how that has affected their experience. The big one that's coming out now is the Canadian Medical Cannabis Exp[experience, basically the retrospective on 800,000 patient reported outcomes. It's a big report and will be released in two weeks"
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