Patents Granted For 22nd Century Group’s Technology to Virtually Eliminate Nicotine in Tobacco Plants
July 30 2014 - 7:48AM
Business Wire
22nd Century Group, Inc. (NYSE MKT:XXII) today announced that
the U.S. Patent and Trademark Office (USPTO) on July 29, 2014 and
the Korean Intellectual Property Office on July 23, 2014, each
granted a patent to the Company for its NBB technology that
virtually eliminates nicotine in the tobacco plant. The resulting
tobacco plants are planted, grown, harvested, cured, processed, and
made into tobacco products, including cigarettes, exactly the same
as conventional tobacco.
U.S. Patent 8,791,329, Reducing Levels of Nicotinic Alkaloids in
Plants, contains 33 claims. South Korean Patent 10-1413122, also
titled, Reducing Levels of Nicotinic Alkaloids in Plants, contains
15 claims. These two patents and related International Patent
Application PCT/IB2006/001741, cover methods for producing tobacco
plants with decreased nicotine levels and the resulting tobacco
plants and products produced therefrom. There are various
continuation and divisional patent applications related to these
granted patents pending in both patent offices.
The term of U.S. Patent 8,791,329 has been extended by the USPTO
by 1,309 days due to prosecution delays at the USPTO. Joseph
Pandolfino, 22nd Century Group’s Founder and CEO, stated, “We are
pleased that the USPTO’s patent term adjustment will extend the
life of this key Company patent through September 2029. This
technology will be utilized worldwide for our next generation very
low nicotine (VLN) cigarettes, which we expect to have
approximately 1% of the nicotine of conventional cigarettes – a 99%
reduction.” Conventional tobacco can easily be blended with the
Company’s VLN tobacco to produce tobacco with any desired nicotine
content.
Patent applications for the NBB technology have been filed by
22nd Century worldwide and patents are currently issued to 22nd
Century in the U.S., China, Europe, Japan, South Korea, Taiwan,
Mexico, Australia and South Africa.
The NBB gene encodes a protein, “nicotine synthase,” that is
involved in the final step of nicotine biosynthesis. Having eluded
scientists for decades, this protein can be down-regulated or
up-regulated to produce tobacco varieties with a wide range of
nicotine levels.
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company whose proprietary
technology allows for the levels of nicotine and other nicotinic
alkaloids (e.g., nornicotine, anatabine and anabasine) in the
tobacco plant to be decreased or increased through genetic
engineering and plant breeding. 22nd Century owns or is the
exclusive licensee of 129 issued patents in 78 countries plus an
additional 44 pending patent applications. Goodrich Tobacco
Company, LLC and Hercules Pharmaceuticals, LLC are wholly-owned
subsidiaries of 22nd Century. Goodrich Tobacco is focused on
commercial tobacco products and potentially less harmful
cigarettes. Hercules Pharmaceuticals is focused on X-22, a
prescription smoking cessation aid in development.
On September 17, 2013, 22nd Century Group entered into a
Membership Interest Purchase Agreement (Purchase Agreement) to
purchase all of the issued and outstanding membership interests of
NASCO Products, LLC (NASCO), a North Carolina tobacco manufacturer
and member of the Tobacco Master Settlement Agreement, known as the
“MSA,” administered by the National Association of Attorneys
General (the NASCO Transaction). Consummation of the NASCO
Transaction is subject to conditions, including a revised NASCO
adherence agreement, of the settling states of the MSA, all of
which the Company expects to be finalized within a few weeks.
National distribution of the Company’s proprietary products will
commence shortly thereafter.
For additional information, please visit:
www.xxiicentury.com
Cautionary Note Regarding Forward-Looking Statements: This press
release contains forward-looking information, including all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of 22nd Century Group, Inc.,
its directors or its officers with respect to the contents of this
press release. The words “may,” “would,” “will,” “expect,”
“estimate,” “anticipate,” “believe,” “intend” and similar
expressions and variations thereof are intended to identify
forward-looking statements. We cannot guarantee future results,
levels of activity or performance. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date that they were made. These cautionary statements should
be considered with any written or oral forward-looking statements
that we may issue in the future. Except as required by applicable
law, including the securities laws of the United States, we do not
intend to update any of the forward-looking statements to conform
these statements to reflect actual results, later events or
circumstances, or to reflect the occurrence of unanticipated
events. You should carefully review and consider the various
disclosures made by us in our annual report on Form 10-K for the
fiscal year ended December 31, 2013, filed on January 30, 2014,
including the section entitled “Risk Factors,” and our other
reports filed with the U.S. Securities and Exchange Commission
which attempt to advise interested parties of the risks and factors
that may affect our business, financial condition, results of
operation and cash flows. If one or more of these risks or
uncertainties materialize, or if the underlying assumptions prove
incorrect, our actual results may vary materially from those
expected or projected.
Redington, Inc.Tom Redington, 203-222-7399
22nd Century (AMEX:XXII)
Historical Stock Chart
From Mar 2024 to Apr 2024
22nd Century (AMEX:XXII)
Historical Stock Chart
From Apr 2023 to Apr 2024