22nd Century Group (Nasdaq: XXII) has acquired GVB Biopharma. Read the press release here
GVB Biopharma was acquired by 22nd Century Group in May 2022. As a contract development and manufacturing organization (CDMO), GVB is one of the largest provider of hemp-derived active ingredients for the pharmaceutical and consumer goods industries worldwide based on total tonnage.
GVB has industry leading market positions and expertise in all facets of the hemp/cannabis industry, which include:
- Research and genetics
- Proprietary cryogenic hemp extraction
- Refining, conversion, and product formulation technology
- Leading supplier of Active Pharmaceutical Ingredients (API)
- Low-cost, scalable manufacturing capabilities
- Regulatory and compliance expertise
- Industry trusted high-quality products
- Current international capabilities
GVB’s strengths complement 22nd Century’s existing upstream and downstream value chains, which includes expertise in cannabinoid receptor science with CannaMetrix, plant research and proprietary genetics through its KeyGene partnership, breeding expertise with Extractas, and cultivation capabilities at Needle Rock Farms. The combination with 22nd Century establishes a global one-of-a-kind asset to serve the rapidly growing hemp/cannabis ingredient market.