22nd Century Completes Successful Hemp Field Trials with University of Virginia
October 19 2017 - 9:45AM
Business Wire
First harvest identifies proprietary hemp
varieties with excellent agronomic qualities
22nd Century Group, Inc. (NYSE American: XXII), a plant
biotechnology company focused on tobacco harm reduction and
cannabis research, announced today that the Company and the
University of Virginia (“UVA”) completed their first successful
harvest of hemp plants and identified several promising hemp
varieties that could form the foundation for commercial hemp
production throughout the legacy tobacco belt region of the United
States.
The 22nd Century-UVA hemp field trials used multiple oil and
fiber varieties of hemp. The Company’s first hemp harvest with UVA
identified proprietary varieties of hemp that have excellent
agronomic properties for growth in the Commonwealth of Virginia.
22nd Century and UVA will use the most promising varieties for
expanded plantings designed to optimize plant growth. 22nd Century
is also working with UVA on the development of high-value medicinal
cannabinoid varieties and specialized cannabinoid extraction
processes for use in human therapeutics.
Dr. Michael Timko, the principal scientific investigator at UVA
in the Company’s sponsored hemp program, stated: “We are very
excited to harvest our first Virginia-based hemp crops in
partnership with 22nd Century. We have learned a lot from this
first year’s planting and we are planning to take full advantage of
the proposed amendments to Virginia’s industrial hemp laws with
expanded plantings in 2018. Our laboratory and greenhouse-based
biotechnology projects with 22nd Century’s hemp plants are already
underway. Indeed, we have ambitious goals, including the production
of cannabinoids for human therapeutics, cannabinoid oils for
nutritional purposes, and hemp fiber for industrial uses.”
22nd Century is also coordinating with UVA on the field growth
and laboratory testing of zero-THC hemp lines developed by 22nd
Century in partnership with its research partner, Anandia
Laboratories, in Canada. 22nd Century scientists expect that its
second generation zero-THC hemp lines, in combination with other
superior hemp plants, will form the basis of future industrial hemp
variety development in the United States. In addition, the
Company’s on-going phytoremediation project in Virginia will soon
yield results in the soil remediation of selected contaminated and
compacted mining lands in Virginia.
The changing hemp regulatory framework across the United States
continues to create opportunity for 22nd Century. The Virginia
Department of Agriculture and Consumer Services (“VDACS”) recently
announced that it is pursuing legislation to amend Virginia laws to
replace the current industrial hemp grower licensure program with a
simplified and open registration program for industrial hemp
growers. As a result, industry experts anticipate a considerable
increase in demand for suitable hemp seed in the Commonwealth of
Virginia. 22nd Century is poised to meet this need. Additionally,
in the Company’s home state, New York Governor Andrew Cuomo
recently announced that the state intends to become a leading
grower and producer of hemp and hemp-derived products. To take
advantage of the favorable hemp climate in New York, 22nd Century
has applied for a New York hemp grower license and looks forward to
expanding its Buffalo, NY-based laboratory to include important new
hemp research.
“We are delighted with the results of our first industrial hemp
field trials in Virginia and with the significant commercial
potential these plants represent,” reported Dr. Paul Rushton, Vice
President of Plant Biotechnology at 22nd Century. “In 2018, we will
add our proprietary zero-THC hemp plants to our hemp program with
UVA and we will expand our hemp activities in New York and other
areas across the United States; these projects will continue to
spotlight 22nd Century as a leader in the rapidly emerging
industrial hemp and medical marijuana markets.”
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company focused on genetic
engineering and plant breeding which allows the increase or
decrease of the level of nicotine in tobacco plants and the level
of cannabinoids in cannabis plants. 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 hemp/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/20171019005482/en/
22nd Century GroupJames Vail, 716-270-1523Director of
Communicationsjvail@xxiicentury.com
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