Innocan Pharma Corporation (CSE:INNO) announced Thursday that its SHIR CBD Derma Cosmetic product line has received the greenlight to be marketed in the European Union.
The company said its products had “successfully" passed safety assessment in accordance with European Union cosmetic regulation No 1223/2009, and also received a EU Cosmetic Product Safety Report for marketing in the European Union.
According to Innocan, SHIR skincare products combine the benefits of CBD with the most effective ingredients in an “innovative formula” to deliver “visible results.” The SHIR Beauty & science products that are approved for marketing in the Europe include a SHIR CBD+ ANTI-AGING Beauty Sleeping Mask, SHIR CBD MUST Eye Serum, SHIR CBD MUST Recovery Lotion, SHIR CBD MUST Glow Oil, SHIR CBD MUST Face Cream, and SHIR CBD+ ANTI-AGING Facial Serum.
"As a pharma company, Innocan is committed to creating premium products that meet the highest quality standards to provide consumer confidence," Innocan co-founder and CEO Iris Bincovich said in a statement.
"Compliance with EU regulation is a major milestone for us, following the receipt of technical validation from the FDA for the marketing in the US of our over-the-counter Relief & Go Pain Relief spray, a few weeks ago,” she added.
Bincovich emphasized that the “next step” for the company is to get to work on “various distribution platforms” to deliver the SHIR CBD cosmetic line across the European Union and other markets where it is legally permitted.
The company, through its wholly-owned subsidiary Innocan Pharma Ltd in Israel, is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol (CBD) with other pharmaceutical ingredients.
Innocan and Ramot at Tel Aviv University are collaborating on the development of a new exosome-based technology that targets both central nervous system indications and the coronavirus (COVID-19).
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