CLARENCE, N.Y.--(BUSINESS WIRE)--22nd Century Group, Inc. (NYSE MKT: XXII), a leader in tobacco harm reduction, announced today that its wholly-owned subsidiary, Goodrich Tobacco Company, received a purchase order for 4.95 million SPECTRUM U.S. government research cigarettes.
22nd Century developed SPECTRUM in partnership with independent researchers and officials from the National Institute on Drug Abuse (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, uniquely 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 levels of nicotine in its tobacco.
Including this order, Goodrich Tobacco has received orders for more than 22 million SPECTRUM cigarettes. SPECTRUM cigarettes are not sold commercially; they are produced by 22nd Century from its proprietary and patented technology for exclusive use in independent clinical research.
Ongoing clinical research conducted with SPECTRUM cigarettes includes: (i) exposure studies comparing how different nicotine levels in cigarettes affect smoking behavior and exposure to smoke compounds, (ii) smoking cessation studies, and (iii) studies to determine whether there is a threshold nicotine level in cigarettes which does not produce dependence. Without SPECTRUM these clinical studies would be very difficult, if not impossible, to conduct. Notably, 22nd Century is the only company in the world capable of producing the Very Low Nicotine SPECTRUM brand styles.
Using the results from independent clinical research studies with Very Low Nicotine cigarettes, 22nd Century intends to become the first company in the world authorized by the FDA to market reduced exposure combustible cigarettes.
“22nd Century’s highly specialized SPECTRUM research cigarettes, our proprietary 'Brand A' Very Low Nicotine cigarettes, and our extraordinary MAGIC 0 Very Low Nicotine cigarettes all contribute to advancing our Company’s core mission: To Reduce the Harm Caused by Smoking,” explained Henry Sicignano, III, President and CEO of 22nd Century Group. “We are very proud to be a part of such important public health nicotine research efforts and at the forefront of reduced exposure cigarette product development.”
About 22nd Century Group, Inc.
22nd Century Group is a plant biotechnology company focused on technology which allows it to increase or decrease the level of nicotine in tobacco plants through genetic engineering and plant breeding. The Company’s mission is to reduce the harm caused by smoking. 22nd Century currently owns or exclusively controls more than 185 issued patents and more than an additional 54 pending patent applications around the world. The Company’s strong IP position led to a licensing agreement with British American Tobacco (“BAT”), the world’s second largest tobacco company. Visit www.xxiicentury.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. 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 year ended December 31, 2014, filed on February 6, 2015, 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.
