ZYUS Life Sciences to Acquire Revon Systems to Enhance Clinical Research with AI-Powered Digital Platform

On July 3, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media that life sciences company ZYUS Life Sciences Inc. announced it had entered into a definitive agreement to acquire Revon Systems, Inc., a medical technology company headquartered in Kentucky, on a one-for-one share exchange basis. The closing date stipulated in the definitive agreement is July 31, 2019, or such other date as may be mutually agreed upon by the parties in accordance with the terms and conditions of the definitive agreement.

ZYUS is a life sciences company dedicated to the development of cannabinoids. Through advocacy, research, and innovative products and services, ZYUS empowers healthcare professionals to leverage cannabinoid-based products to manage diseases and improve patients’ quality of life. ZYUS focuses on the global development and commercialization of patient-centric cannabinoid therapeutics and product candidates. This transaction aims to leverage Revon’s proprietary technology platform as a digital therapeutic patient interface and real-time data collection platform to support future planned clinical studies and trials.

Revon pioneered the development of an AI-powered home patient triage method. Revon’s intelligent symptom tracking tools for COPD and asthma help patients manage their conditions and make appropriate care decisions based on advanced physician-trained decision models. The data collection platform developed by Revon integrates mobile technology, AI, and other technologies, enabling patients to manage their health more effectively while allowing health plans and payers to evaluate the real-world performance of their interventions (pharmaceuticals, devices, behavioral, or environmental). Meanwhile, Revon collaborates with pharmacy benefit managers, health insurers, and other risk-bearing entities, as well as pharmaceutical companies seeking digital therapeutics solutions.

“Brent Zettl, President and CEO of ZYUS, stated: ‘This new proprietary platform will serve as a clinical trial tool for our pain management candidate products, helping to accelerate the clinical trial process and enhance patient engagement.’”

Alec Machiels, a member of Revon’s Board of Directors, stated, “We are pleased to entrust Revon’s digital expertise to ZYUS, as we seek innovative therapies to improve patients’ lives.”

ZYUS is a Canadian life sciences company focused on the global development and commercialization of innovative cannabinoid therapies and product candidates. Through clinical research and intellectual property development, ZYUS aims to provide high-quality cannabinoid therapeutics and product candidates, such as oils, gel caps, and topical creams, to patients worldwide. ZYUS’s vision is to enhance the scope of cannabinoid product care and expand the medical potential of cannabinoid products.

Revon is a medical technology company headquartered in Kentucky that has developed a data collection platform integrating mobile technology, AI, and other advanced technologies with healthcare services and treatments. The platform’s digital interface facilitates data collection to evaluate the performance of medications and other interventions across various patient populations. Revon’s technology platform provides digital enrollment services for pharmaceutical and medical device companies conducting clinical trials, while also offering real-world evidence collection and patient-reported outcomes tracking.

(Compiled by Zhang Jing)