GOLDEN, CO / ACCESSWIRE / March 15, 2022 / Panacea Life Sciences, Inc. (OTCQB:PLSH), (the "Company"), a cGMP certified, vertically integrated premium CBD and cannabinoid company, announces a new commercial partnership with Chanelle McCoy Health ("CMH"), a premium CBD pharmaceutical company, based out of the UK and Ireland. Since Chanelle McCoy Health launched its own CBD brand Pureis®, it has taken the UK market by storm. This exciting new partnership with Panacea has the potential to provide the U.S. market with access to a safer, higher quality, and more efficacious portfolio of certified CBD products that are backed by clinical studies. Chanelle McCoy Health's dominant brand, supported by governmental authorities including the European Food Safety Authorities ("EFSA"), is differentiated as the first pioneering CBD food supplement backed by formal safety and efficacy clinical studies.
Both companies are fully aligned and complimentary across multiple facets of their company visions including their core values of providing the end consumer with products that are safe, efficacious, and of consistently high quality, at competitive market prices. The mutual mission of the alliance is to be recognized across the United States as the premium provider of science-based CBD products, specifically a portfolio of Ultra Pure CBD (0% THC, with no psychoactive effects) products to those segments of the consumer market seeking to eliminate their exposure to THC in CBD products.
Chanelle McCoy Health and Panacea have joined forces to bring together their expertise to launch this new Ultra Pure CBD product in the U.S. The CBD oil products are set poles apart from any potential competitors in that the Ultra Pure formula is manufactured by means of a validated proprietary process that consistently produces product with undetectable THC levels. It is the very first CBD food supplement to be formally backed by safety clinical studies and to use FDA registered raw materials. Pureis® was launched by pharmaceutical trailblazers Lady Chanelle McCoy and Caroline Glynn when they noticed numerous misleading and poor-quality products on the market; at that juncture, the components of their vision began to crystallize with a view to bringing a safe, certified product to the consumer. Their expertise allowed them to carry out clinical safety studies and navigate through complex regulatory landscapes, so much so, they are the very first company to appear on the UK authority list of CBD food supplements that can be legally sold in the UK market.
Commenting on the partnership, Chanelle McCoy Health founders Lady Chanelle McCoy and Caroline Glynn B.Sc., MSc., L.L.M were quoted as saying: "Our company ethos has been about elevating CBD above social stigma by providing products that are backed by clinical studies. Where others chose to invest in expensive marketing campaigns, we chose to focus on advancing the science and research behind CBD through conducting many clinical studies. This investment has been rewarded by the regulatory advancements we have made with the regulators in Europe and the UK. We hope to continue the same journey in the U.S. with our latest collaboration with Panacea. We both share similar values and strive to deliver CBD products that consumers can trust."
As safety and purity are top priorities for each company's products, Chanelle McCoy Health backs their Pureis®/CBD products with long-term clinical studies. One such study aimed to provide information on the possible health hazards likely to arise from repeated exposure to their Ultra Pure CBD over a prolonged period of time. With various parameters assessed and a controlled sample of subjects, it was determined Pureis® CBD is suitable and well-tolerated for consumer use. Additionally, the tests demonstrated that Pureis® CBD does not have any mutagenic effects.
Chanelle McCoy Health chose to collaborate with Panacea because of Panacea's dedication to science and knowledge surrounding cannabinoid products. The ultimate goal is to expand each company's footprint globally.
James Baumgartner, Panacea's Chief Science Officer, comments, "Panacea is very excited about the partnership with Chanelle McCoy Health. Their approach to education and commitment to science aligns perfectly with Panacea's mission to advance our understanding on how cannabinoids impact human and pet health. Pureis's Ultra Pure CBD will allow for the manufacturing of products that truly have no detectable THC amounts, giving those in a controlled substance testing environment access to the multiple health benefits provided by CBD."
Bank of America Merrill Lynch has estimated the global consumer market for CBD is set to reach a value of around $39 billion by 2032. Chanelle McCoy Health is leaps ahead of those competitors vying for consumers' attention since the high-growth space is now calling for much more regulated and superior safety practices and requiring more trustworthy and efficacious product lines on both sides of the Atlantic.
Panacea recently established a presence in Brazil's cannabis market by partnering with MyPharma2Go. Both partnerships are a testament to Panacea Life Sciences' strategic execution of their vision to expand their network globally, solidifying their presence as one of the fastest-growing cannabinoid companies.
These 0% THC CBD products will be launched in the U.S. through Panacea as soon as Spring of 2022.
About Chanelle McCoy Health & Pureis®
Lady Chanelle McCoy and partner Caroline Glynn worked together for over a decade in Chanelle Pharma, now Ireland's largest indigenous pharma company, where they developed the medical business, achieving 2,500+ product licenses and penetrating 96 global markets. They founded Chanelle McCoy Health and later launched the brand Pureis® Ultra Pure CBD driven by their strong belief in CBD's healing properties and desire to bring a high-quality product to the market supported by clinical trials. The Company has authorization from the UK regulatory body to remain on the market as a CBD food supplement. The company has also received a validated application by the European Union (EU) for authorization of CBD as a food ingredient.
About Panacea Life Sciences Holdings, Inc.
Panacea Life Sciences Holdings, Inc. is a woman-owned, vertically integrated cannabinoid manufacturer and research company that produces purposeful formulations for consumers and pets. Panacea sells an array of products including softgels, gummies, tinctures, sublingual tablets, skin care, and pain management topicals. If you would like more information about this topic or to learn more about Panacea and its products or our land-to-brand practices, please visit www.panacealife.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our agreement with Chanelle McCoy Health and the timing concerning the launch of their products. You can identify forward-looking statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the appeal of Pureis® to American consumers, risks arising from supply chain disruptions on our ability to obtain raw materials as well as similar problems with our vendors, the impact of the pandemic including new variants on the national and global economy, lack of available funding at sufficient levels to meet our working capital needs, competition from third parties; intellectual property rights of third parties; regulatory constraints, including the need for FDA approval under certain circumstances; and changes in technology and methods of marketing; as well as those risks and uncertainties described by us in our quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2021 under the heading "Risk Factors". Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law.
SOURCE: Panacea Life Sciences, Inc.
View source version on accesswire.com: