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.
Copyright Business Wire 2014