Brains Bioceutical Corp. (“Brains Bio” or the “Company”) through its wholly-owned subsidiary BSPG Laboratories ltd (“BSPG”), is pleased to announce it has received confirmation of validation from the United Kingdom (“UK”) Foods Standards Agency (“FSA”), for its natural plant-based Cannabidiol (“CBD”) as a Novel Food.
This builds upon the previous milestone accomplishment of validation the company received earlier this year from the European Commission (“EC”), and European Food Safety Authority (“EFSA”) for our European Novel Foods Application. Validation is the first step in receiving Novel Food authorization, which is now required for CBD nutraceutical products placed on the market in the UK and Europe.
“Brains Bio will be the first company to bring true pharma-grade regulated products to the global nutraceutical market. Consumers demand quality: we are one of the only companies on the market using pharma-grade CBD backed by clinical research. Plant-based, natural products are the backbone of the nutraceutical industry. This second milestone achievement by our nutraceuticals team at Brains Bio, following on the heels of our European application validity check and completion of all required toxicological studies puts us at the forefront of this emerging market opportunity,” said Brains Bio CEO & Chairman Ricky Brar. “Having successfully achieved a validated application status gives us a complete package of technical and safety data, along with toxicology reports being deemed as complete. We have every confidence that our materials will withstand the review,” Brar continued.
The value of the UK CBD market is reported to be greater than that of vitamin C and D combined [1]. CBD is seeing monumental demand in Europe and the market is on course to grow 400 percent over the next four years. According to New Frontier Data EU CBD, Consumer Report: 46 percent of Europeans view CBD favorably, and up to 77 percent of surveyed respondents also believe CBD should be accessible in some way. [2]
Advancements made by Brains Bio in the development of pure, natural CBD benefit the scientific and healthcare community globally. Brains Bio’s CBD API has successfully been tested by the INRS Laboratory, a World Anti-Doping Agency (WADA) facility. These screening reports have confirmed that the CBD API is free of THC, pesticides, and other banned substances listed by WADA. Brains Bio is the first of its kind in the industry to get such confirmation from a WADA-accredited laboratory for the purity of its CBD and the absence of prohibitory substances. WADA has removed CBD from its banned substance list. All activities undertaken in the UK are following UK law and are subject to routine, periodic inspection by UK authorities.
SOURCE: Brains Bioceutical Corp.
