The Association for the Cannabinoid Industry (ACI) has announced plans to open an office in Brussels as they expand their offering to the EU.
The membership organisation launched in 2019 to help UK businesses navigate the newly-regulated cannabinoid sector.
Companies in the EU around the world now face challenges in navigating an ever evolving regulatory framework, both in the EU and the increasingly lucrative UK.
The ACI’s new European presence will allow the organisation to assist companies looking to enter the UK market while providing a platform for engagement with European regulators.
ACI consultancy lead, Dr Parveen Bhatatah, said:
“Having emerged as the most credible option for companies requiring market authorisation for their cannabinoid products in the UK, we are delighted to be able to bring this wealth of experience to European market authorisation applications.”
ACI co-founder and Lead Counsel, Steve Moore, added:
“Our expansion into Brussels perfectly complements our existing work in the UK and strengthens our consultancy team who are advising clients on their European interests, particularly in the wake of Brexit and the accelerating regulation of legal cannabinoid products around the world.”
The association has been working with the UK Prime Minister’s new Taskgroup on Innovation, Growth and Regulatory Reform (TIGRR) to advise the government on how the UK can reshape regulation and seize new opportunities from Brexit.
This would separate CBD medicines from the criminal law relating to controlled drugs and create a huge opportunity for research and investment.
The report said: “Whilst there is in the UK a fast-growing, legal and well established consumer market for medicinal CBD for a range of pain and neurological conditions, current Home Office rules make it impossible for them to be produced here.
“This means that domestic consumers are relying on imported products and the UK is losing out on a c£1 billion medicines industry.”