BSPG Laboratories, a subsidiary of CBD consumer products maker Isodiol International Inc (CSE:ISOL; OTC:ISOLF), has received approval from UK regulators to manufacture cannabidiol (CBD).
Cannabidiol is a non-psychoactive cannabinoid found in cannabis, and research has suggested it could have several medical benefits such as pain and stress relief.
A first in the industry
With the approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), BSPG’s natural CBD isolate can now be exported around the world, subject to pharmaceutical regulations.
“This approval validates the consistent quality of our pure, natural CBD isolate and the patented manufacturing processes,” said Isodiol’s Chief Executive Marcos Agramont.
“This event is a first in the industry and now enables Isodiol to focus on the development of CBD based drugs that will address a myriad of conditions that are affecting so many people around the world.”
He added: “With this approval, we will now rapidly advance our pharmaceutical and drug development divisions.”
Isodiol is currently building a state-of-the-art manufacturing facility which is expected to be up-and-running in the first quarter of 2019.
Once it is completed, the company expects to be able to produce around 20,000 kg of CBD each year, which will help it to “serve this newly created demand for CBD drug development, approved pharmaceutical applications, research, clinical studies, and clinical trials”.
Isodiol shares were down 4.7% to C$0.82 on Thursday morning.