CBD App Seeks to Collect User Data to Ease Industry FDA Regulation

The cannabidiol (CBD) industry is quite novel. The chemical, extracted from hemp, became legal in 2018 when the Farm Bill legalized the cultivation and sale of industrial hemp and its extracts. Just a year later, the sector is worth millions in sales, and experts predict it will hit $20 billion by 2024.

However, the industry’s monumental growth has also been its biggest weakness. Normally, new products have to go through a rigorous testing process before hitting the shelves, but CBD skipped that step. By the time the sector was filled with thousands of products, regulatory authorities were scrambling to catch up.

Now, the U.S. Food and Drug Administration (FDA) is actively taking steps to regulate the runaway industry. The agency has collaborated with a health and wellness research company to help collect consumer data on CBD use.

ValidCare, a centennial, Colorado-based cannabis-focused health and wellness company will lead an industry-sponsored liver toxicity study to deliver aggregated real-world experience data that will help answer federal health officials’ safety concerns about cannabidiol.

The company developed a consumer app, CBD+me to collect consumer experiences with CBD, and presented the initial data to federal authorities responsible for regulating CBD in December. ValidCare is now partnering with 10 CBD companies for the next phase whose results will be delivered to the FDA in the coming months.

The ten brands will sponsor the study at a cost of $150, 000 each, making it much more affordable than it would have been. “No one has $50 million to do a study. It’s not realistic,” says ValidCare CEO Patrick McCarthy. He says that the FDA has indicated that it needs liver toxicity data to move forward on regulating CBD.

The study will run from the end of March through June, and it will aggregate data from roughly 1,000 people over a 4-8 week period. Every participant will take a blood test at the start and end of the test, and they will journal their experiences with CBD on the CBD+me app.

According to McCarthy, they will also collect prior use attestations from participants to help them gauge long term exposure.

The research company started its National Consumer Experience program in October 2019 after the FDA said it needed more data about CBD safety and toxicity. It asked consumers to detail their experiences with hemp-derived products on its app CBD+me.

“We saw ourselves in a very unique situation in the industry, sitting between the consumer and the product manufacturers, and we had the ability to then take all that information in aggregate, blind it and present it to the FDA, so we decided to do just that, “says McCarthy.

Experts believe that sector players like ChineseInvestors.com (OTCQB: CIIX) and Dama Financial are hoping that the data collected is enough to show regulators that CBD doesn’t pose any safety or toxicity risks to users.

About CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

To receive instant SMS alerts, text CBDWire to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CBDWire.com

Please see full terms of use and disclaimers on the CBDWire website applicable to all content provided by CBDW, wherever published or re-published: https://CBDWire.com/Disclaimer

Do you have a questions or are you interested in working with CNW? Ask Our Editor

CBDWire (CBDW)
Denver, Colorado
www.CBDWire.com
303.498.7722 Office
Editor@CBDWire.com

CBDWire is part of the InvestorBrandNetwork.

Archives

Select A Month

CBDWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 303.498.7722