Brains Bioceutical Corp, a Vancouver-based veterinary cannabidiol company, says it’s bringing its European Union-approved CBD to a partner for Brazil’s first registered medical cannabis product.
By providing use of its approved CBD product, the company will be lending a hand in the creation of Brazil’s first foray into the legal cannabis space. Brains’ CBD is licensed for both human and veterinary use in the United Kingdom. According to a previous release, it contains 99.7% CBD and little to no tetrahydrocannabinol (THC) and will be exported to Brazil from the UK.
In December, Brains raised USD $30,000,000 in capital to expand its CBD production.
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“I’m very proud of this historic moment, wherein we have combined our strengths to create the first registered product under the new regime,” Rick Brar, chairman and CEO of Brains Bioceutical, said in a release. “We now have registered CBD product in the epicentre of the European continent within the UK, and supply the CBD material to our South American partner for achieving the first registered cannabis product under the new ANVISA regulations in Brazil.”
Brains has teamed up with an unnamed South American partner, noting that the other party is a “leader in the global pharmaceutical industry. Producing approximately 11.5 billion therapeutic doses per year, and has more than 4,200 employees.”
“Now more than ever, it is important that patients have access to products that do not compromise on safety and quality,” said Gurdeep Bains, president of Brains. “We believe that these products are bringing forward the highest quality product into South America. The Brains industry-leading regulatory team was able to introduce the first cannabinoid-based specials products in the UK and the first to supply our EU-GMP API ingredient to our partner in Brazil.”
After this initial move into the region, Brains is hoping to expand as the regulations in South America become more open to cannabis and foreign investment.