Cannabotech's oral solution products enter onto the FSA list of CBD products, defined as Novel Food, allowed for UK sale
LONDON, UNITED KINGDOM, July 7, 2022 /EINPresswire.com/ -- • Cannabotech’s oral products have been approved by the FSA following the UK’s move to tighten regulation around the sale of CBD.
• Hundreds of CBD brands, excluded from the FSA’s published list, will be immediately removed from the shelves in UK retail stores.
• Cannabotech products have also been submitted for registration as Novel Food at EFSA (the European Food Safety Authority).
Cannabotech (CNTC.TA), an Israeli biomedical company that develops botanical solutions for preventive medicine and integrative oncology medicine, reports the entry of all 24 of its oral solution products onto the FSA list of CBD products allowed for sale in the UK, under registration procedures as Novel Food. The products are available in drops or tablets.
Cannabotech has chosen the UK as a strategic target market for launching its Prevention Concept because the UK is the world's most advanced country regarding the regulation of CBD consumables, now defined as Novel Food by law. Hundreds of brands that have not been included in the FSA list will be immediately forced off the shelves, making the UK market the first in the world where consumers can be sure that the CBD brands they purchase are under the strictest supervision and safety credentials.
Concurrent to the submission in the UK, Cannabotech products have also been submitted for registration as Novel Food at EFSA (the European Food Safety Authority). The European regulator is expected to publish a list of approved products for marketing by the end of 2022, including the approval of CBD-containing nutritional supplements for sale throughout the EU.
It should be noted that the inclusion of the company's products in the Novel Food list by the British Ministry of Health is one of the milestones set by the FSA as part of the approval process of the products. The company estimates that the aforementioned approval should be finalized during the first quarter of 2023.
The Israeli regulator emphasized that it would like to receive additional data on the safety of CBD products before approving them for marketing in Israel in the future. The company expects that once its products receive the final approval and definition as Novel Food in the UK, it will be able to submit the safety files for its products to the Israeli regulator as well - thus significantly shortening and facilitating entry into the Israeli market in the future, upon governmental authorization.
Cannabotech's CEO, Elchanan Shaked, said: "After 15 months of intensive work vs. the FSA, we are proud to be on the Novel Food list in the UK. This is a milestone for Cannabotech, which brings us significantly closer to receiving final approval and promotion of the brand in the UK market. The CBD market in the UK is the largest and most progressive in Europe, and we strive to take a significant part in it through our unique concept."
About Cannabotech:
Cannabotech is an Israeli biomedical company that develops botanical solutions for preventive medicine and integrative oncology medicine. These solutions are based on combinations of active agents from the cannabis plant and fungi that work on two central systems in the human body: the endocannabinoid system and the immune system.
As part of the concept of integrative medicine, in the last three years, Cannabotech has been developing a concept that includes flagship stores, alongside online sales of 37 OTC preventive medicine products, which have been based on the scientific knowledge of Prof. Solomon Wasser, a world-renowned mycologist.
Furthermore, Cannabotech has developed a unique application called MyBeing that customizes treatment to the patient's condition following a diagnosis-by-selfie, providing various body metrics of the subject and a recommendation for the use of the company's various products, including nutritional supplements and dermatological CBD products. The unique technology is also embedded in the company's flagship stores.
Cannabotech share is traded on TASE under the symbol CNTC.TA
For more information about the preventive medicine concept, please visit the company’s website: www.cannabotech.com
For a virtual tour in the company’s flagship store at the Westfield Shopping Mall, London: https://vimeo.com/655717843
For investment opportunities and collaborations: ir@cannabotech.com
To view Cannabotech’s products at the FSA website, please visit the following link:
https://data.food.gov.uk/cbd-products/products-list?search=Cannabotech
• Hundreds of CBD brands, excluded from the FSA’s published list, will be immediately removed from the shelves in UK retail stores.
• Cannabotech products have also been submitted for registration as Novel Food at EFSA (the European Food Safety Authority).
Cannabotech (CNTC.TA), an Israeli biomedical company that develops botanical solutions for preventive medicine and integrative oncology medicine, reports the entry of all 24 of its oral solution products onto the FSA list of CBD products allowed for sale in the UK, under registration procedures as Novel Food. The products are available in drops or tablets.
Cannabotech has chosen the UK as a strategic target market for launching its Prevention Concept because the UK is the world's most advanced country regarding the regulation of CBD consumables, now defined as Novel Food by law. Hundreds of brands that have not been included in the FSA list will be immediately forced off the shelves, making the UK market the first in the world where consumers can be sure that the CBD brands they purchase are under the strictest supervision and safety credentials.
Concurrent to the submission in the UK, Cannabotech products have also been submitted for registration as Novel Food at EFSA (the European Food Safety Authority). The European regulator is expected to publish a list of approved products for marketing by the end of 2022, including the approval of CBD-containing nutritional supplements for sale throughout the EU.
It should be noted that the inclusion of the company's products in the Novel Food list by the British Ministry of Health is one of the milestones set by the FSA as part of the approval process of the products. The company estimates that the aforementioned approval should be finalized during the first quarter of 2023.
The Israeli regulator emphasized that it would like to receive additional data on the safety of CBD products before approving them for marketing in Israel in the future. The company expects that once its products receive the final approval and definition as Novel Food in the UK, it will be able to submit the safety files for its products to the Israeli regulator as well - thus significantly shortening and facilitating entry into the Israeli market in the future, upon governmental authorization.
Cannabotech's CEO, Elchanan Shaked, said: "After 15 months of intensive work vs. the FSA, we are proud to be on the Novel Food list in the UK. This is a milestone for Cannabotech, which brings us significantly closer to receiving final approval and promotion of the brand in the UK market. The CBD market in the UK is the largest and most progressive in Europe, and we strive to take a significant part in it through our unique concept."
About Cannabotech:
Cannabotech is an Israeli biomedical company that develops botanical solutions for preventive medicine and integrative oncology medicine. These solutions are based on combinations of active agents from the cannabis plant and fungi that work on two central systems in the human body: the endocannabinoid system and the immune system.
As part of the concept of integrative medicine, in the last three years, Cannabotech has been developing a concept that includes flagship stores, alongside online sales of 37 OTC preventive medicine products, which have been based on the scientific knowledge of Prof. Solomon Wasser, a world-renowned mycologist.
Furthermore, Cannabotech has developed a unique application called MyBeing that customizes treatment to the patient's condition following a diagnosis-by-selfie, providing various body metrics of the subject and a recommendation for the use of the company's various products, including nutritional supplements and dermatological CBD products. The unique technology is also embedded in the company's flagship stores.
Cannabotech share is traded on TASE under the symbol CNTC.TA
For more information about the preventive medicine concept, please visit the company’s website: www.cannabotech.com
For a virtual tour in the company’s flagship store at the Westfield Shopping Mall, London: https://vimeo.com/655717843
For investment opportunities and collaborations: ir@cannabotech.com
To view Cannabotech’s products at the FSA website, please visit the following link:
https://data.food.gov.uk/cbd-products/products-list?search=Cannabotech
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