CLARENCE, N.Y.--(BUSINESS WIRE)--22nd Century Group, Inc. (NYSE MKT: XXII), a plant biotechnology company that is a leader in tobacco harm reduction, announced today that it will open specialized laboratories in Western New York dedicated to new scientific research at substantially lower costs than sponsored research projects at third-party universities. Paul J. Rushton, Ph.D., the Company’s recently appointed Cambridge and Max Planck Institute-educated Vice President of Plant Biotechnology, will lead this new scientific initiative. The new laboratories will accelerate the development of new nicotine-free tobacco varieties as well as the invention of important tobacco products.
Dr. Rushton explained, “This is a very exciting time for our Company. Our new laboratories will provide 22nd Century with the in-house capabilities to rapidly expand our genomics-based research and to accelerate commercialization of our technologies.”
“The new 22nd Century laboratories will enable us to continue to grow our patent portfolio – but at substantially reduced costs,” explained Henry Sicignano III, President and CEO of 22nd Century Group. “What’s more, using our own labs will enable us to own, outright, the patents that we develop rather than having to license them from sponsored third-party researchers.”
In other news, 22nd Century announced today that the Company will present at the LD Micro Invitational Conference at the Luxe Sunset Boulevard Hotel, 11461 Sunset Boulevard, Los Angeles, California, on Wednesday, December 2, 2015 at 1:30 p.m. PST.
The LD Micro investor conference focuses on revealing to qualified investors promising, undervalued companies in the micro-cap space. Mr. Sicignano will provide attendees with a formal update, business overview, and highlights of recent 22nd Century Group activity. In addition, Mr. Sicignano will be available for one-on-one meetings at the conference.
To arrange a one-on-one meeting with 22nd Century, please contact Andrew Haag at xxii@irthcommunications.com or call 866-976-4784.
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 and the level of cannabinoids in cannabis plants through genetic engineering and plant breeding. The Company’s primary mission is to reduce the harm caused by smoking. 22nd Century currently owns or exclusively controls more than 200 issued patents and more than 50 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, including but not limited to our future revenue expectations. 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, 2014, filed on February 5, 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.
