22nd Century Group Secures Exclusive Agreement with CannaMetrix to Accelerate Commercialization of New, Disruptive Hemp/Canna...
March 03 2021 - 9:00AM
22nd Century Group, Inc. (NYSE American: XXII), a leading
plant-based, biotechnology company that is focused on tobacco harm
reduction, very low nicotine content tobacco, and hemp/cannabis
research, announced today that it has secured an exclusive
agreement with CannaMetrix, LLC for the use of their proprietary,
human cell-based testing CannaMetrix EC50Array™ technology that
will enable 22nd Century to accelerate the commercialization of
new, disruptive hemp/cannabis plant lines and intellectual
property.
Since reporting third quarter earnings, 22nd Century has
refocused its hemp/cannabis strategy to target the upstream
segments of the cannabinoid value chain. In particular, the Company
seeks to accelerate the delivery of valuable, commercial-scale
plant lines and intellectual property for the life science,
consumer product, and pharmaceutical end-use markets. With the
addition of CannaMetrix, 22nd Century has now secured four out of
the five key partnerships needed to maximize each component in the
upstream segment of the cannabinoid value chain: plant profiling
(CannaMetrix), plant biotechnology (KeyGene), plant cultivation
(Panacea-Needle Rock Farm), and ingredient extraction/purification
(Panacea). The Company is also in final discussions with top-tier,
plant breeders that will be announced soon.
“22nd Century is extremely excited to add CannaMetrix into our
secured network of value chain partners to increase the speed at
which we develop and offer disruptive plant lines and intellectual
property for the hemp/cannabis industry. For example, a plant line
that would typically take ten years or longer to develop can now be
achieved in two years,” said James A. Mish, chief executive officer
of 22nd Century Group. “As we monetize our current IP portfolio
starting in 2021, our upstream hemp/cannabis partnerships will
enable us to rapidly offer additional disruptive, commercially
valuable plant lines at large scale and increased, stable yields to
very attractive hemp/cannabis end-use markets. We are excited and
absolutely confident in the future innovation and value creation
that will stem from these coordinated strategic partnerships.”
“We are thrilled to collaborate with 22nd Century Group,” stated
Harold Smith, Ph.D. founder, and chief executive officer of
CannaMetrix. “They are the ideal partner, bringing decades-long
experience in plant biotechnology with unmatched ability in
developing valuable, commercial plant lines. We believe that
through this exclusive partnership the development of new
hemp/cannabis lines for large-scale cultivation and production will
advance at a rapid pace and transform the hemp/cannabis
industry.”
CannaMetrix’s proprietary CannaMetrix EC50Array™ technology
serves as a high-throughput roadmap for developing new
hemp/cannabis plant lines with tailor-made cannabinoid and
terpenoid profiles for use in the life science, consumer product,
and pharmaceutical markets. The human cell-based assay has the
ability to measure and validate the potency and efficacy of
cannabinoids and/or terpenoids through defined biomarkers and
receptor activity, and can rapidly identify optimum plant profiles
by measuring the potency and effect on the human cell system.
About CannaMetrix, LLC.Founded in 2016,
CannaMetrix, LLC is a leader in gene and cell engineering. Their
method development has focused on rapid, human cell-based testing
with their proprietary CannaMetrix EC50Array™ technology. This
technology measures, validates, and quantifies the potency and
efficacy of cannabinoids and terpenoids derived from plants or
synthetic products in living human cells. CannaMetrix addresses an
unmet need in the industry with their rapid test of cannabis
product potency based on actual biological responses to products
that currently can only be inferred from chemical composition
analyses of plant materials. Characterizing products by their
chemical content and ability to evoke defined biological effects
will be crucial to the development of differentiated products for
the consumer end-market. The EC50Array™ technology will help
accelerate development and calibrate cannabis lines for specific
applications.
About 22nd Century Group, Inc.22nd Century
Group, Inc. (NYSE American: XXII) is a leading plant
biotechnology company focused on technologies that alter the level
of nicotine in tobacco plants and the level of cannabinoids in
hemp/cannabis plants through genetic engineering, gene-editing, and
modern plant breeding. 22nd Century’s primary mission in tobacco is
to reduce the harm caused by smoking through the Company’s
proprietary reduced nicotine content tobacco cigarettes –
containing 95% less nicotine than conventional cigarettes. The
Company’s primary mission in hemp/cannabis is to develop and
commercialize proprietary hemp/cannabis plants with valuable
cannabinoid profiles and desirable agronomic traits.
Learn more at xxiicentury.com, on
Twitter @_xxiicentury, and on LinkedIn.
Cautionary Note Regarding
Forward-Looking StatementsExcept for historical
information, all of the statements, expectations, and assumptions
contained in this press release are forward-looking statements.
Forward-looking statements typically contain terms such as
“anticipate,” “believe,” “consider,” “continue,” “could,”
“estimate,” “expect,” “explore,” “foresee,” “goal,” “guidance,”
“intend,” “likely,” “may,” “plan,” “potential,” “predict,”
“preliminary,” “probable,” “project,” “promising,” “seek,”
“should,” “will,” “would,” and similar expressions. Actual results
might differ materially from those explicit or implicit in
forward-looking statements. Important factors that could cause
actual results to differ materially are set forth in “Risk Factors”
in the Company’s Annual Report on Form 10-K filed on March 11,
2020, and in its subsequently filed Quarterly Report on Form 10-Q.
All information provided in this release is as of the date hereof,
and the Company assumes no obligation to and does not intend to
update these forward-looking statements, except as required by
law.
Investor Relations & Media
Contact:Mei KuoDirector, Communications & Investor
Relations22nd Century Group, Inc.(716)
300-1221mkuo@xxiicentury.com
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