22nd Century Group Receives Order for 2.4 Million SPECTRUM® U.S. Government Research Cigarettes
June 01 2017 - 9:45AM
Business Wire
22nd Century Group, Inc. (NYSE MKT:XXII), a plant biotechnology
company that is focused on tobacco harm reduction and cannabis
research, announced today that its wholly-owned subsidiary,
Goodrich Tobacco Company, received a new purchase order for
agencies of the U.S. federal government for 2.4 million of the
Company’s proprietary SPECTRUM research cigarettes. SPECTRUM brand
cigarettes are an important tool in clinical research for
investigating the impact of reduced nicotine levels for cigarette
addictiveness and cessation success. As recently reported,
scientists have dramatically increased the number of clinical
trials investigating the important applications of Very Low
Nicotine cigarettes. New and on-going independent clinical trials
have increased demand for 22nd Century’s proprietary SPECTRUM
research cigarettes.
In-progress clinical research incorporating the use of SPECTRUM
cigarettes includes: (i) exposure studies comparing how different
nicotine levels in cigarettes affect smoking behavior, (ii) smoking
cessation studies, and (iii) studies to determine the nicotine
addiction threshold of cigarettes. Most notable is a newly
completed, but not yet published, Phase III study featuring 1,250
participants and funded by the National Institute on Drug Abuse
(NIDA). This study is comparing two different approaches to
reducing levels of nicotine in cigarettes: an immediate reduction
in nicotine content in cigarettes to non-addictive levels versus a
gradual reduction in nicotine content in cigarettes to
non-addictive levels. This seminal Phase III study is expected to
determine the nicotine reduction approach that demonstrates the
most favorable outcomes for smokers; no matter which approach
prevails, 22nd Century’s Very Low Nicotine tobacco and technology
will be a key component.
22nd Century developed SPECTRUM in partnership with independent
researchers and officials from the NIDA, the U.S. Food and Drug
Administration (FDA), the National Cancer Institute (NCI) and the
Centers for Disease Control and Prevention (CDC). The main SPECTRUM
product line, which can only be produced by 22nd Century, consists
of a series of cigarette styles that vary nicotine yields over a
50-fold range – from very low (97% less nicotine than conventional
brands) to relatively high nicotine yields. SPECTRUM features 24
styles, in both regular and menthol versions, with 8 different
levels of nicotine in its tobacco. 22nd Century is the only company
in the world capable of producing the Very Low Nicotine SPECTRUM
brand styles.
Including this new order, Goodrich Tobacco has received orders
for more than 24 million SPECTRUM cigarettes. SPECTRUM cigarettes
are not sold commercially; they are produced by 22nd Century for
exclusive use in independent clinical research.
“Today there are at least 25 ongoing clinical trials using 22nd
Century’s proprietary Very Low Nicotine cigarettes,” explained
Henry Sicignano, III, President and Chief Executive Officer of 22nd
Century Group. “We expect that this new order of SPECTRUM research
cigarettes will facilitate critical additional research… and will
ultimately lead to 22nd Century making Very Low Nicotine cigarettes
available to smokers around the world.”
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company focused on
technology which allows it to increase or decrease the level of
nicotine in tobacco plants and the level of cannabinoids in
cannabis plants through genetic engineering and plant breeding. The
Company’s primary mission in tobacco is to reduce the harm caused
by smoking. The Company’s primary mission in cannabis is to develop
proprietary cannabis strains for important new medicines and
agricultural crops. Visit www.xxiicentury.com and
www.botanicalgenetics.com for more information.
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, including but not limited to our future revenue
expectations. 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, 2016, filed on March 8, 2017,
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170601005826/en/
Investor Relations:IRTH CommunicationsAndrew Haag,
866-976-4784xxii@irthcommunications.com
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