22nd Century Group licenses non-GMO reduced-nicotine tobacco tech from NC State through 2042

22nd Century Group, Inc.

Exclusive license from North Carolina State University for patent rights and plant materials to develop non-GMO reduced nicotine tobacco.
License extends until 2042 on a country-by-country basis; includes milestone payments, licensing fees, and sublicensing fees.
22nd Century to issue $100,000 in common stock as partial consideration, calculated using 20-day average closing price.
Press release highlights this license enhances VLN product line and supports international markets opposed to GMO.
Company already holds first FDA MRTP authorization for a combustible reduced-nicotine cigarette.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

22nd Century Group, Inc. entered into NCSU License Agreement with North Carolina State University valued at equal in value to $100,000 (effective 2023-11-02).

Action: entry
Agreement: license
Counterparty: North Carolina State University
Value: equal in value to $100,000
Effective: 2023-11-02

Exact text from the filing

On November 2, 2023, 22nd Century Group, Inc. (the “Company”) executed a licensing agreement (“NCSU License Agreement”) with North Carolina State University (“NCSU”).

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245 material agreements filed in the last 30 days. Browse all material agreements →

22nd Century Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-115818

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