SAN DIEGO, CA—(Marketwired – May 27, 2015) – MyDx, Inc., (OTC PINK: MYDX), the developer of MyDxâ„¢ (My Diagnostic), the first handheld chemical analyzer for consumers, has signed an exclusive patent sublicense agreement with Next Dimension Technologies, Inc. (“NDT”), a developer of electronic nose chemical sensing technology used by NASA, and funded by the Bill & Melinda Gates Foundation.
Under the agreement, NDT will license intellectual property relating to its chemical sensing technology that enables the MyDx Analyzer to sense, measure and report chemicals of interest to its customers. The company has exclusively licensed the use of the sensor technology to characterize and detect compounds in Cannabis.
“Offering the Cannabis Industry a friend in Science & Technology is an exciting step for MyDx,” said Daniel Yazbeck, the company's Chairman & CEO. “We currently are the only company offering a practical Cannabis analysis solution at an affordable consumer price point. With this exclusive agreement, we now also have the intellectual property needed to further protect this competitive advantage.”
MyDx is the first battery operated, handheld, chemical sensing device for consumers, which offers a quick, easy and affordable way to test the safety and composition of what consumers eat, drink and inhale. It uses interchangeable sensors to test specific solids, liquids and gases of interest. MyDx has several products in varying stages of R&D including OrganaDx for food; AquaDx for water; AeroDx for air; and CannaDx for Cannabis. Information from the detector is sent via Bluetooth to the MyDx App, which will allow users to view such items as pesticides, pathogens, chemical composition and more.
“We look forward to seeing our technology integrated and deployed under the MyDx umbrella,” said William Royea of Next Dimension Technologies. “We enthusiastically support MyDx's vision of providing consumers with more information about the products they consume, and we look forward to working with the MyDx team in expanding and developing their MyDx product line.”
Additional information regarding MyDx and the sublicense may be found in the company's Form 8–K that was filed with the Securities and Exchange Commission on May 26, 2015 at www.sec.gov.
About MyDx, Inc.
MyDx, Inc. (OTC PINK: MYDX) is a science and technology company based in San Diego, California, whose mission is to empower people to live a healthier life by revealing the chemicals in what they eat, drink and inhale. The Company has developed MyDxâ„¢, a portable analyzer that provides real–time chemical analysis that fits in the palm of your hands. MyDx leverages over a decade of established electronic nose technology to measure chemicals of interest and has four sensors being developed in its lab that are compatible with the MyDxâ„¢ App. For more information, please visit www.cdxlife.com.
About Next Dimension Technologies, Inc.
Next Dimension Technologies develops vapor detection solutions for complex sensing applications. The company's sensor technology combines state–of–the–art materials with advanced sensor design and signal processing to provide exceptional sensitivity and selectivity towards a wide range of chemical vapors. The technology offers a cost–efficient solution for applications ranging from toxic industrial gas detection to medical diagnostics.
Safe Harbor
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