Raising Cannabis Capital 0126: Track My Medicine

Physicians treating patients with serious medical conditions like cancer need timely & actuate information to responsibly prescribe cannabis.  Steve Deol from Track My Medicine speak with Dan Humiston about how their platform links physicians to their patients and to their patient's dispensaries, providing them with the real-time monitoring that they need.  He also talks about their current Seed funding round and the type of investors they would like to work with.  

Produced By MJBulls Media | Cannabis Podcast Network

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Dan Humiston:
Today's show is sponsored by a former guest, the fintech group, and their solution for Cannabis online companies and dispensaries to accept cashless payments. If you want a Cannabis dispensary or a Cannabis online business, you know that banking laws make it impossible for you to accept any form of payment other than cash. The fintech group finally provides an option that was previously not available. To learn more. Go to fintechmerchantaccounts.com/marijuana-dispensaries or listen to Raising Cannabis Capital episode 55.

Steve Deol:
Yeah, we're following a traditional Silicon Valley mold as far as raising capital right now. We're raising our seed round. We raise a little bit of money and we're we're still kind of de la around currently based out of San Francisco, California. And our team is folks that have worked at startups before and about startups that have existed as well. So we're familiar with what that landscape.

Dan Humiston:
From MJBullss media, it's the Raising Cannabis Capital show. I'm Dan Humiston. And on today's show, how this Northern California tech company is using data and technology to help physicians treat their patients with Cannabis.

Dan Humiston:
Today, Raising Cannabis Capital, we are joined by Steve Deol from Track My Medicine. Steve, welcome to the show.

Steve Deol:
Thank you for having me. Dan,.

Dan Humiston:
Steve, with all the information out there about Cannabis, it's easy to forget that we're just getting started and there's so much information about Cannabis that we still don't know. Track my medicine. The way I understand it is helping us better understand Cannabis and how to incorporate it into patients treatment. I'll let you explain how you do that.

Steve Deol:
Yeah, the world of Cannabis. It's a lot of folks are looking to use Cannabis and for health care. And even in recreational states like California, the medical products are flying off the shelves. However, with patients with really critical issues such as cancer, those type of things require physician oversight. They're not just using Cannabis, they may be using other treatments. So the way that we're actually solving this problem is first by helping physicians incorporate Cannabis into healthcare and do this responsibly and do it in a way that it actually works. And if it doesn't work, you stop, you make an adjustment. I'll straight up a little story. If you have somebody that's going through chemotherapy and they're looking to increase their appetite because they're having a lot of nausea. Old adage was, go ahead. Use Cannabis and it'll actually help increase your appetite. So a patient goes in to a dispensary and goes and purchases some Cannabis and they start using it. They'd notice that they're actually losing their appetite. It's actually killing their appetite. They're thinking that, hey, Cannabis doesn't work the same way for me. It could be that they actually purchase something like Durbin poison. That particular strain is high and THC v CV is actually an appetite suppressant.

Steve Deol:
However, the physician doesn't know this. The patient doesn't notice. And the benefits from Cannabis are not being realized for this patient. So what track my medicine does is gives physicians the tools to get down to a level of detail and make that recommendation based on the patient's condition. The physician may want to get to the exact cannabinoid or Turpin that will actually bring out the desired effect for that patient. And the interesting thing is everyone's endo cannabinoid system is different. So what works for a person a may not work. Same for person B. And the nice thing is with lab testing, you actually know what cannabinoids and Turpin during the products. So a physician can actually go and make those recommendations. Patients can take that recommendation into a dispensary the same way you would take a prescription into a pharmacy. And the interesting thing that we do is we actually provide a feedback loop. So after that patient makes that purchase, that purchase shows up in their mobile app after they consume it. We ask them, did this help you with your nausea? That notification will go back to the physician.

Dan Humiston:
I think I got it. But let's just make sure that because I am the one most likely not to get it. But I want to make sure our listeners get it. So when they make the purchase at the dispensary, they get a notice to download an app at that time?

Steve Deol:
No, actually, when they visit the physician, the physicians that are using our platform, they can enroll the patient to track my medicine. And that's a feedback based system and a sensor in the physician side.

Steve Deol:
It's like an E.H.R. or electronic health record where they can go and prescribe down to a level of detail that Cannabis has.

Dan Humiston:
I see. Will, the dispensary information eventually sink in with a doctor in the patient's app.

Steve Deol:
Yeah. So what we're looking to do in the long term is actually tie in physicians offices with dispensaries. So when a doctor makes a recommendation, they should be able to query what's in stock of a dispensary and put those products on hold so the patient can buy the exact thing the doctor recommends. And that's another issue in the industry, because inventory changes over so often. A lot of times when the patient is looking for the product that was recommended by the physician, they go to a dispensary and it's not found. And the bud tender may just give them something that's completely different. It's clearance is is a big thing that we want to hopefully trust.

Dan Humiston:
Yeah, well, that's I mean, this is really good stuff. Plus for it'll improve when the patient goes in to visit the doctor. He already has all that information. It's not up for the patient to sort of recite what has happened to him over the last since her last visit.

Steve Deol:
We're really aiming our product to help the 55 and up the population that's that are really benefiting from Cannabis. And in that area, you need to get down to a low level of detail because really trying to help folks solve some pretty tough medical issues.

Dan Humiston:
And there's very few people over the age of 60 that aren't on some medicine. So how that interacts, this is all this information that we're going to need to know as we move forward.

Dan Humiston:
I want to take a quick break to think all of our Raising Cannabis Capital listeners to remind you that you can support the show by subscribing to MJBulls premium. It's only four dollars and ninety nine cents per month and you gain access to all previous Raising Cannabis Capital episodes as well as all other MJ bills produced podcast and exclusive content, including companies, investor pitch decks, good MJBULLS.com and enter promo code RAISING to get your first month free.

Dan Humiston:
Well, you talked about eventual hooking up dispensaries into this network. What else is next? Next phase of development for track my medicine.

Steve Deol:
Yeah, eventually like our long term and we actually want to tie in to all other medications that patients taking and get a holistic view of patients care. And already in our current mobile app, the patient can put in current medication they're taking. However, we want to do an automated way where everything can be linked and the patient can really see which medications are being reduced by using Cannabis. I say on long term, well, we want to do it and we actually want to be a data repository that shows, of course, with optimized private data. Adhering to all of that is figuring out what are those active cannabinoids and trappings that work best in which ratios for which particular disease or symptom for which demographic. We want to get down to a level of detail and have that data that helped fuel the industry and cut down drug development time. We want to find out what what works the best, and that's hopefully the day that we'll be able to uncover and we will uncover that. Yeah, if we have enough folks using that platform because it's going to be exact recommendations from a physician based on a real disease. And since everything is being lab tested nowadays from the dispensaries, we know that cannabinoids are active ingredients that have the highest efficacy to treat a particular disease. And we have patient feedback on how well it works.

Dan Humiston:
Yeah, it's good. It's gonna be complicated, but I think you're on the right track, especially like I mean, you know, the complications of hip laws and everything else, but you have to integrate it with everything. Feels like you're on the right track. But a project like this, that's really a lot of upfront costs. Have you funded it so far? And what are your plans for funding the next phase?

Steve Deol:
Yeah, we're following a traditional Silicon Valley mold as far as raising capital. Right now we're raising our seed round. We raise a little bit of money and we're we're still trying to fill around currently based out of San Francisco, California. And our team is folks that have worked at startups before and have had startups that have exited as well. So we're familiar with that landscape.

Dan Humiston:
Sure. Sometimes I like to ask what's some qualities or characteristics that you would look for? What type of investor?

Steve Deol:
Yeah. Right now on the stage we're at where we're looking for qualified angel investors as well as seed around VC. funds, probably be the folks that would be the best fit for us.

Dan Humiston:
Well, we'll have all Steve's information and track my medicines information. And if there's any investor information that's available, we'll have it on the MJBulls Web sites of people that are listening. Want to follow up to dig deeper into this. We really just skim the surface of all the things that track medicine is doing. And there's so much more that we don't have time to talk about today, but needs to be discussed and need to be reviewed. And actually, you guys need to get this done because it's important stuff. Steve, thanks a lot for being on the show. All right. You're welcome. Thank you for having me. Good luck with this.

Dan Humiston:
Thanks for listening to Raising Cannabis Capital to learn more about today's guest, to become a guest. Visit our Web site at MJBulls.com. Today's show is produced by MJBulls Media with original music produced in part by Jamie Humiston. I'm Dan Humiston and you've been listening to the Raising Cannabis Capital podcast.

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