Medxtractor Doubles Down on B2B Licensing & mHealth

CANNANNEW REPORT

Medxtractor Corp. (CSE: MXT) (OTCQB: MXTTF) is known for its award-winning extraction equipment, but recently, the company refocused its efforts on its proprietary health-related databases, machine learning analysis, and plans to engage in B2B licensing and mHealth. Mental health disorders are notoriously difficult to diagnose and treat. Unlike most other ailments, there isn’t a simple test that physicians can use to diagnose a patient with a disorder. Many mental health disorders have treatment options, but they aren’t nearly as safe and efficacious as conventional pharmaceuticals or therapies. Medxtractor Corp. (CSE: MXT) (OTCQB: MXTTF) aims to address these problems by pairing biometric interviews with brainwave data to create a proprietary mental health reference database. Using machine learning algorithms and qualified practitioner input, the company is leveraging that data to build tools that deliver digital diagnostic opinions. The company’s initial focus is on predicting the potential benefits of psychedelic drugs on various mental health conditions and developing an mHealth consumer health application, called YMI, to predict an individual’s current and future mental and physical health conditions. The company anticipates launching both programs this year. Data Bridge Market Research believes that psychedelics will grow at a 13.3% compound annual growth rate from $2.8 billion in 2020 to $7.6 billion by 2028. But, of course, the growth in the market will depend mainly on accurately diagnosing patients with certain mental illnesses and successfully treating those conditions with psychedelics. Data Bridge sees strong psychedelics growth. Source: Data Bridge “As the reference database was being developed, it became apparent that there were additional applications that could benefit from the same database,” said President James Durward. “While the original ‘business-to-business’ application anticipates licensing the database to researchers, practitioners, and developers in the psychedelics field, the YMI application targets the far broader consumer mHealth market.” Click here to…

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Source : Medxtractor Doubles Down on B2B Licensing & mHealth

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