cbdMD, Inc. (NYSE:YCBD) received validation of its Novel Food application from the United Kingdom's Food Standards Agency for its natural plant-based CBD formulation. The company also anticipates validation of its application to the European Food Safety Authority in the coming weeks.
With this approval, cbdMD will now be allowed to sell its proprietary and validated tinctures, gummies, and capsules across the UK. The grant of validation was based on the company's extensive toxicological data, which contained all the requisite evidence to substantiate the safe consumption of the Company's products which contain cbdMD's proprietary blend of cannabinoids.
"This FSA validation certifies what we've known all along, our products are safe. We want to thank the FSA for validating this fact, and we strongly urge the FDA to do the same. Our customers trust and appreciate that our products are formulated with natural ingredients, not synthetic copies, and without additives. In a time when the world needs products that complement everyday health and wellness, our natural products matter and resonate with consumers worldwide," stated Martin A. Sumichrast, chairman & co-CEO of cbdMD, Inc.
Dr. Mark Tallon, LLM, MA, Ph.D., and managing director of Legal Foods commented: "We are proud to support cbdMD, as the owner of its proprietary data in these pan-European novel food submissions. cbdMD has a scientific and legal team that is second to none; composed of former FDA employees providing guidance on a global approach to compliance and intellectual property while keeping one eye on the health and nutritional benefits of the products through additional studies. Ownership of the study data means cbdMD is not sharing its IP, as is done in consortium applications. This provides cbdMD with a unique position in the worlds largest CBD market to create actual value by leveraging the IP in their own products or licensing their formulations to third parties or white label goods."
