22nd Century Group (Nasdaq: XXII) has acquired GVB Biopharma. Read the press release here
22nd Century is leveraging its experience with tobacco and hemp/cannabis, a close hop relative, to accelerate the development of proprietary specialty hop varieties or valuable traits. The hop plant market is ripe for disruption and offers opportunities for 22nd Century to provide unique and significant competitive advantages to commercial partners. The addition of hops, a critical input for the $500 billion global brewing industry as well as a growing source of medically-important molecules, expands 22nd Century’s total addressable markets to an estimated $1.3 trillion.
Our R&D program objectives include creating new proprietary hop plants and valuable IP using our know-how and technologies, utilizing double haploids, gene-editing, molecular breeding, and other non-GMO technology. Non-GMO products are critical for success in international markets where such products are preferred or GMO products are banned.