Strainprint Technologies Ltd: Medical Cannabis Data Analytics Platform Optimizing Patient Experience

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Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.

Strainprint Technologies Ltd is a medical cannabis data analytics platform. CEO Andrew Muroff explains that the company has three products on the market: a patient-focused app, a community portal, and subscription analytics. Strainprint’s patient app allows individual consumers to track their consumption of cannabis and the efficacy of the products they are using. The goal is to find the optimal cannabis profile for each consumer and recommend cannabis products to suit their needs. Strainprint also offers products for growers, retailers, researchers, and clinics, such as its analytics platform. Strainprint’s analytics allow cannabis companies and medical professionals to optimize production and treatment, and conduct better market and medical research by tracking real-time cannabis consumption and efficacy data across a broad spectrum of categories.

Transcript:

James West:   Hey, Andrew Muroff is here. He’s the CEO of Strainprint, Andrew, welcome.

Andrew Muroff: Thank you for having me.

James West:   Andrew, tell me what Strainprint is.

Andrew Muroff: We are a DNA analytics company in the cannabis industry. We are one of the very companies that actually tracks data on patient use and patient outcomes, and we have the largest data set.

James West:   Cannabis and Big Data?

Andrew Muroff: Cannabis Big Data. So there’s a lot of data that’s on the supply side; we’re on the demand side, demand and use side.

James West:   I see, so if I am a cannabis retailer, I would want to license this data to give me an idea of where the trends are in the marketplace?

Andrew Muroff: So competitive intelligence, business intelligence if you’re on the medical side, treatment guidance. So it’s everything from strain efficacy, product formulation, you know, what am I missing in my product set that people are asking for, or how are my products comparing to other people’s products.

James West:   Oh, so you’re the guy who kind of finds out what the people are smoking.

Andrew Muroff: Yeah, and a lot of times it’s not smoking. A lot of times it’s other delivery mechanisms. There’s a lot of vaping.

James West:   Oh, okay, so tell me: what is the favoured method of delivery for Canada?

Andrew Muroff: Well, we can’t answer that question that broadly – we can, we shouldn’t answer it that that broadly, we should answer it by demographic, by gender, we can narrow it down to – we know what women vape more than men; men tend to smoke more than females.

James West:   Who smokes more, men or women?

Andrew Muroff: Men smoke more than women, typically, and typically it’s younger men, 50 below. 50 and above are vaping more, and a lot of people are taking their flower that they’re buying from legitimate sources and they’re making their own edibles.

James West:   Oh, is that right?

Andrew Muroff: So we’re seeing a lot of that.

James West:   Oh, a little home baking.

Andrew Muroff: A lot of home baking. And a lot of people are buying form outside of the legal system as well as buying from within the system.

James West:   Hah. So according to your data, what percentage of cannabis in Canada is sourced from illegitimate sources?

Andrew Muroff: What I can tell you is, in our system, so I can only tell you what my data shows; I can’t tell you what the broader industry shows. In our data, it shows that 95 percent of the people who are tracking in our system are using legal source, and about 20 percent are also using products from outside of the system or creating their own derivative products from that.

James West:   Interesting. And now, I’m very curious about some of these points, but are people more attracted to high potency THC oriented products, or is there more of a mix towards people wanting lower THC, higher CBD, or what is the actual sort of breakdown in your data in terms of what demographic likes what level of potency?

Andrew Muroff: So I’m going to take it a little bit further. So I’m going to say there’s 450 active components in any strain of cannabis, and the key ones are THC and CBD, so those are the ones you hear the most about, but there’s a whole whack of minor cannabinoids, expanded cannabinoids, and then terpenes, which are an ingredient that actually is evident in more than just cannabis. So it’s understanding how all of those things interact together. And by the way, it varies by indication, what are people using, and that’s the whole purpose of our data: to help people find what optimal chemical profile works best for them. Not the strain name, so we really don’t are what the producers are telling us; we care what’s the chemical profile that people are using.

So to answer your question, most people are not looking for really high THC. They’re not. They’re looking for a combination –

James West:   That does not surprise me. [laughter]

Andrew Muroff: I know. Well, too much THC and you’re on the couch, right, regardless of whatever other ingredients are in it. people are looking for a solution to a symptomatic state: do I have anxiety, do I have fibromyalgia, do I have epilepsy? And so what we’re founding is different genetics in people and also different demographics in people need different things.

James West:   interesting. So is the end goal of all this data collection and analysis, are you going to go be able to one day say, okay, you’re this blood type, and you’re this sort of demographic profile, and here’s the condition and strain of that condition you have, so here’s actually the perfect combination of your CBD treatment, or rather, your cannabis oriented treatment which will work perfectly?

Andrew Muroff: So we’re not at the genetic phase yet; we’re starting to incorporate that testing in, but what we can tell you from an observational perspective is we can actually tell you that the tool that we have, the app that we have, the first product, is a product that helps people track their outcomes so that they can figure out what strains are working best for them for the symptom that they’re treating, and in aggregate now, we can start to look and we can say, if you’re a 49 year old male treating fibromyalgia, working during the daytime, needing to be creative, this is the optical chemical profile for you, and these are the ten products that have that.

James West:   Interesting. So I imagine – I mean, it’s funny. So as a lifelong consumer of cannabis, you know there was never any thought about the entourage effect about the combined cannabinoid experience, especially with the terpenes and the flavonoids, which apparently have some physiological modification effect, as well. So now that all this information is coming to light, it’s kind of like, you think, geez, I maybe should have been smoking more of a cannabis-dominant strain instead of the wheelchair weed that has basically caused me to spend 20 years locked in a dark room playing drums. And so this is intriguing to me, because ultimately, this is going to improve every individual’s relationship with cannabis, be it recreational or medical in nature.

Andrew Muroff: That’s why we exist.

James West:   Wow. Is this a public company?

Andrew Muroff: It’s not. Private.

James West:   Is it going to be a public company?

Andrew Muroff: No intention to be public; first of all, access to capital for data companies is not a problem, but more importantly, there’s not really a reason for us to be public right now. It’s really meant more for those companies that don’t have access to capital other ways and need bit capital for CapEx expansion. I’ve run a public company before, and if you’re an operator of a public company it’s a great valuation boost and, you know, it’s great for, you know, public notoriety, but you have to actually run a business and it’s tough to run a business quarterly.

James West:   Right, you bet. Interesting. So then, is purpose of Strainprint to actually produce this fundamental service that will be part of the cannabis ecosystem everywhere?

Andrew Muroff: So it is, now, today. I can tell you, we have three products on the market: we have our app, which is a patient-focused app which helps them to figure out what strains work best for them. We have a community portal which is a private and secure community portal that is plugged into the app as well. Those are two consumer-facing products that drive the data into our Strainprint analytics platform, which is the platform that allows us to monetize the anonymous data.

So we have LPs, clinics, large pharmacy chains, government, a lot of people who subscribe to our data today through our Strainprint analytics and they use that data for either business intelligence or treatment recommendation, or product formulation.

James West:   Wow, fascinating. So this is a tool currently in use by medical practitioners to help patients zero in on what the exact, appropriate medication might be.

Andrew Muroff: And help physicians and clinics be more engaged with their patients and track patient performance so that they can provide better treatment guidance and better ongoing treatment recommendations, so you can start to see your patients’ performance in real time on our platform, and you can see if there’s a drop-off; you don’t have to wait for the next clinic visit before you address it.

James West:   Interesting! Now so there’s a broadening, ever-increasing comprehension of the clinical level of exactly are the effects and interrelationships between the endocannabinoid system and the various CBDs and cannabidiols and all of these things. From where you sit, I would think that you’d have a really great bird’s-eye-view on the things that are showing so much potential for problems that might not be part of the popular discourse at this point?

Andrew Muroff: Yes, and on top of that, we’re starting to use the full-ecosystem platform, the three pieces to run clinical trials. So our first clinical trial is an endometriosis study that’s in partnership with a group out of Israel, and together we’ll be running a very large study. We’ll take the data we have today on endometriosis patients, we’ll fine-tune what the study is going to be, we’ll recruit from our participants in the study, and at the end of the day we will come out with a formulation that an be productized and can be approved in both of those markets.

James West:   Wow. Sounds fascinating, Andrew.

Andrew Muroff: Thank you.

James West:   We’re going to come back to you in due course and get an update on this situation – it’s really interesting. Thanks so much for joining us today.

Andrew Muroff: Thanks for having us.

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.

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