Dispension Industries is transforming the distribution of restricted products with an integrated platform that combines industry-leading software, biometrics and hardware to create a secure, frictionless experience for the consumer
OTTAWA, ON, March 3, 2021 /PRNewswire/ -- L-SPARK, Canada's leading accelerator for the Connected MedTech industry, announces that disruptive healthcare technology from Dispension Industries, one of the startups currently participating in L-SPARK's first MedTech Accelerator cohort, wins validation as Health Canada funds MySafe Society's harm reduction initiative.
Health Canada has announced $3.49 million in funding through the Substance Use and Addictions Program (SUAP) to the MySafe Society for a harm reduction initiative enabled by Dispension Industries' integrated platform that combines industry-leading software, biometrics, and hardware to facilitate the secure, frictionless distribution of restricted products.
MySafe, which launched in 2019 in Downtown Vancouver, prevents drug overdoses by providing controlled, safe quantities of pharmaceutical-grade opioids to eligible participants.
Core to the solution is Dispension's secure kiosks which enable participants to securely access individually prescribed medications, as well as create opportunities for consistent monitoring, education, and assistance to manage drug use, and reduce drug overdoses.
"In addition to directly addressing the toxic drug supply, MySafe greatly reduces the need to acquire money and drugs through the informal economy, which is life-changing for people caught up in the desperate pursuit of procuring drugs. Early results of the MySafe Project evaluation indicate that all participants were able to decrease their use of street opioids and most reduced their engagement in the street economy," said Dr. Mark Tyndall, Executive Director of the MySafe Society.
Dispension's Verified Identity Dispenser (VID) system is equipped with biometric palm vein technology that enables accurate verification of a registered user's identity before allowing them to access the restricted products stored safely inside.
It is timely that Dispension is one of eight startups currently participating in L-SPARK's first MedTech accelerator cohort which began in late 2020.
Dispension's involvement in this program has given the company pre-commercial access to a technology platform designed by corporate partners TELUS, BlackBerry, Solace, and the Canadian Internet Registration Authority (CIRA) to accelerate the creation, integration, and commercialization of connected IoT medical devices.
"Through access to this technology, Dispension is well-positioned to scale to address needs related to safely and securely dispensing a range of restricted products, including reaching underserved and remote communities," says Leo Lax, Executive Managing Director at L-SPARK. "We look forward to watching as Dispension scales its reach nationwide and internationally."
Corey Yantha, CEO of Dispension, says, "We're excited by the opportunity to validate our technology in the marketplace, particularly as the driving force behind this very important life-saving initiative. Canada continues to struggle with historic rates of fatal overdoses and MySafe is the most scalable way of addressing the overdose crisis head-on."
L-SPARK is Canada's leading accelerator for the Connected MedTech industry as well as Software as a Service (SaaS) companies. The accelerator offers programs focused on future innovative B2B and B2B/B2C companies, as well as targeted programs that partner with leading corporations in Connected Cars (AV), IoT and CyberSecurity.
Since the launch of its first cohort in January 2015, L-SPARK has accelerated 61 companies across Canada. With over 10,000 investors, corporate partners and startups now in its network, L-SPARK has curated a dynamic Canadian tech community for participating companies to join.
About Dispension Industries
Dispension Industries is a Dartmouth, Nova Scotia-based technology company pioneering secure IoT kiosks equipped with advanced biometrics and virtual care capabilities for restricted product distribution and direct-from-consumer data collection. Dispension's mission is to use automated distribution technology to solve real public health and safety challenges.
Name: Jacob Crompton-Schreiber