Front Range Biosciences Applauds Signing of Colorado Hemp Bills; Advocates on Behalf of Hemp Industry at FDA Hearing on CBD
June 4, 2019 MJ Shareholders
June 4th, 2019
DENVER and WASHINGTON, June 4, 2019 /PRNewswire/ — Front Range Biosciences® (“FRB”), which provides hemp, coffee, and high-value crop producers with high-performing Clean Stock® plants and seed by combining the best practices in agriculture with innovative technologies, applauds the State of Colorado on the signing of bills SB-220 “Hemp Regulation Alignment with 2018 Federal Farm Bill” and SB-240 “Industrial Hemp Products Regulation.”
Dr. Jonathan Vaught, CEO of FRB, said, “The signing of SB-220 and SB-240 into law by Governor Polis is a major step for the hemp industry in Colorado, bringing state policy in line with the 2018 Federal Farm Bill. This allows Colorado’s hemp program to continue on its high growth trajectory, providing more opportunities for farmers in the state to thrive and contribute to the exploding global market for cannabinoid products. FRB is proud to stand alongside so many other Colorado hemp companies as leaders in the fight to legalize and appropriately regulate hemp. Governor Polis has been a strong advocate for the hemp industry and we were honored to host his signing of SB-220 and SB-240 in our Denver greenhouse facility.”
Additionally, Dr. Vaught presented at the FDA’s Scientific Data & Information about Products Containing Cannabis or Cannabis-Derived Compounds public hearing on Friday, May 31. Industry leaders in agriculture, manufacturing, health, retail, and academia were given the opportunity to speak directly to the agency on these key operational components. Dr. Vaught’s testimony focused on the current data backing the safety of cannabinoid products, positive agricultural impacts, and the segments of the U.S. economy that would thrive with the commercialization of cannabis and cannabis-derived compounds.
“The hearing illustrated that it is imperative for the industry to collaborate with the FDA and similar regulatory bodies to develop a system of stringent requirements and standardized practices to ensure the safety and efficacy of these products,” said Dr. Vaught. “Concurrently, it is important that regulations do not create a monopoly for any one segment of the industry, and that sectors like dietary supplements, pharmaceuticals, food additives, and cosmetics work together to supply the FDA with its respective data and information to exemplify the myriad of benefits this plant has to offer.”
The cannabis industry has the opportunity to engage directly with the FDA now until July 2, providing suggestions for the creation of an optimal structure in order to utilize cannabis to its full potential. FRB encourages different industry segments to submit scientific data and regulatory proposals that supports the safety of cannabinoid ingredients and its continued growth trajectory. Research and data points can be submitted here.
Watch Dr. Vaught’s testimony to the FDA in full here.
For more information on Front Range Biosciences, please visit http://www.frontrangebio.com
About Front Range Biosciences
FRB is an agricultural biotech company that specializes in tissue culture propagation of high-value crops at industrial scale to improve consistency and efficiency for clone production. FRB also has an advanced breeding program for identifying and improving commercially relevant traits. FRB is located in Lafayette, Colorado.
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SOURCE Front Range Biosciences
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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