Pureis is and Irish Dragons’ Den TV star Chanelle Mccoy was the founder of the brand. It was one of the first CBD companies to be awarded validation by the UK and EU food safety regulators. They are currently being expanded across the UK.
CBD is the non-psychoactive compound that is found in cannabis plants. It is used as a medicine to treat conditions such as insomnia.
Bank of America Merrill Lynch estimates that the global CBD market for consumers will be $39 billion by 2032. McCoy’s firm is, however, one of many brands trying to grab attention from consumers in this area.
The 44-year-old has been engaged to AP McCoy (20-time champion jockey), and previously managed the human medicine division of Chanelle, the Irish pharmaceutical giant. In 2019 she left the firm based in County Galway, to start her own CBD venture, Chanelle McCoy Health – the parent company of Pureis.
The brand makes “ultra-pure” cannabidiol food supplementation that aids the stomach and gut. It was introduced in UK stores, including Boots as well as Holland & Barrett. Additional expansion plans are being planned for the coming year.
McCoy has stated that she was inspired to launch the company together with co-founder Caroline Glynn after hearing the experiences of mothers struggling to access safe, clinically proven best CBD oil in the UK products that could aid children suffering from illnesses such as severe epilepsy.
Pureis’ CBD is synthetic and was developed with citrus fruit molecules rather than being extracted from the cannabis plant. Cellular Goods, a David Beckham-backed company, makes synthetic cannabis. This is because there is no danger of THC or other cannabinoids remaining in the CBD products. Natural CBD advocates CBD assert that their products are tested thoroughly and ensure that no THC infiltrates products.
CBD is classified as a “novel food” and manufacturers must prove their products’ safety before they can sell them, regardless of the type of CBD they choose to use. All UK businesses had to file an application with the FSA by March 31, and they are allowed to continue trading as long as they’ve filed an appropriate application.
Pureis has invested more than PS1.5 million to carry out the full range of clinical research studies in the UK and Irish market to meet and meet the EFSA and FSA UK requirements, and declares that it is aiming “to be the mature ones in the CBD food supplement space”.
McCoy said: “Novel Food validation is an important step towards the right direction in eliminating the stigma associated with CBD in the market. Only when the industry takes the lead in addressing this stigma can this be resolved. We’re proud to have set a benchmark for conformity.”
Glynn stated that it was a great time to be approved for sale at Holland & Barrett and Boots. We’ve got a lot of collaborations in the pipeline that will increase the accessibility of our CBD products… And we will not stop there in the pursuit of new foods. We’re hoping to gather more clinical information about the incredible therapeutic potential of CBD.
The cannabinoid market has been heating up in recent months.
Pureis is currently competing with companies based in London that are seeking funding to purchase CBD products and launch these products.
South West Brands plans to raise another PS5-PS10 million for expansion and acquisitions. The company raised PS1million from institutional investors and angels in January. Rebekah Hall (an ex-City banker) is the company’s head. She launched Botanic Lab in 2015, the first CBD-infused soft drink in Europe. The drinks are now stocked in Waitrose and Harrods.
A ruling by authority Financial Conduct Authority allowing such firms to list on the main stock exchange has caused a surge in CBD firms listing.
Cellular Goods was floated in London this month, in conjunction with MCG Pharma, which offers an epilepsy treatment using cannabis, as well as Kanabo, an Israeli-based company that makes a vaping pen that allows you to administer controlled doses of cannabis extract for insomnia and pain.