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Press Release

MyDx CEO Sees Emerging Cannabis Industry Attracting Top Tech Talent and Innovation to Sustain Rapid Growth


Posted on: 17 Oct 16

LA JOLLA, Calif., Oct. 17, 2016 (GLOBE NEWSWIRE) -- MyDx, Inc. (OTCQB:MYDX), a rapidly growing chemical detection company and makers of MyDx®, the first handheld chemical analyzer for consumers,  today announced that while speaking as part of a panel, its Chairman and Chief Executive Officer, Daniel R. Yazbeck, noted that due to the cannabis industry’s rapid growth and mainstream acceptance, it is attracting some of the most innovative, high-tech and even traditional senior-level executives in addition to billions of dollars in growth capital.

Mr. Yazbeck was invited to speak on the “Tech Players who Moved into the Cannabis Industry” panel at the New West Summit in San Francisco this past Saturday, October 15, 2016. His panel was followed by keynote speaker and acclaimed entrepreneur, Richard Branson.

Key Highlights of the “Tech Players Who Moved Into Cannabis” Panel

As a clear example of top tech talent and innovation being drawn to the rapidly growing cannabis industry, many executives, including Mr. Yazbeck, made the decision to transition from traditional Fortune 500 executive positions in order to apply their expertise towards the support of the launch and sustainable growth of the cannabis industry.  Prior to founding MyDx, Mr. Yazbeck served as a scientist at Pfizer Pharmaceuticals specializing in chemical R&D technologies, and later as an engineer and strategic new market and business developer for Panasonic before becoming a full-time investor.

As part of Mr. Yazbeck’s remarks, he highlighted how pleased he was with his decision to enter into the cannabis industry, which generated a much higher return on investment, both from a monetary and lifestyle perspective, compared to pursuing a career in more traditional and mature industries such as pharmaceuticals or consumer electronics.

“The excitement and sense of achievement of being able to invent and take CannaDxTM, the first-ever handheld analyzer that detects key chemicals, including THC levels in cannabis, from the lab and into global commercialization, was more satisfying for me than any other career path I could have taken.  MyDx’s success with CannaDx has more importantly proven to us that our products and technology can be applied towards the significantly larger water, air and food industries. 

“We have already seen great interest for our second proprietary chemical sensor, AquaDxTM, which allows consumers to test the safety of their drinking water.  And now we are preparing to launch our third and fourth sensors, OrganaDxTM and AeroDxTM, which test for pesticides in the food we eat and the pollutants in the air we breathe, respectively.  Based on this timeline, it is fairly clear how the growth of the cannabis industry has caused new innovations in technology that have benefited both the cannabis industry as well as other key markets,” concluded Mr. Yazbeck.

About Daniel Yazbeck

Daniel Yazbeck is a leading science, business and technology executive with over 15 years of experience with Fortune 500 companies, including Pfizer and Panasonic.  Mr. Yazbeck holds a Master’s Degree in Medicinal Chemistry with a minor in Marketing, and is an inventor and author of several world patents and research publications. Mr. Yazbeck has been a featured speaker and panelist at cannabis investor, technology and healthcare events over the last three years, and was invited to share the stage with some of the key pioneers and founders of the medical cannabis industry, including Professor Raphael Mechoulam at Cannatech in Israel, who discovered the chemical structures of THC 52 years ago. 

About MyDx, Inc.

MyDx, Inc. (OTCQB:MYDX) is a chemical detection and sensor technology company based in San Diego, California whose mission is to help people Trust & Verify® what they put into their minds and bodies. The Company developed MyDx®, a patented, affordable portable analyzer that provides real-time chemical analysis and fits in the palm of the user’s hand. The multi-use MyDx analyzer leverages over a decade of established technology to measure chemicals of interest. It owns a substantial and growing intellectual property portfolio of patents covering its technology. With its CannaDxTM and AquaDxTM sensors now commercialized, it has two other sensors being developed in its lab that are compatible with the MyDx Analyzer and App that will empower consumers to test the chemical composition of what they eat, drink and inhale.  For more information, please visit www.cdxlife.com.

Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. These forward-looking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, our ability to complete our product testing and launch our product commercially, the acceptance of our product in the marketplace, the uncertainty of the laws and regulations relating to cannabis, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in our reports filed with the Securities and Exchange Commission, available at http://ir.cdxlife.com/all-sec-filings or www.sec.gov.

GlobeNewswire
globenewswire.com

Last updated on: 18/10/2016

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