BUFFALO, N.Y., Nov. 16, 2022 (GLOBE NEWSWIRE) — GVB Biopharma, a 22nd Century Group firm (Nasdaq: XXII), at the moment introduced that it has opened a brand new, strategically-located distribution facility within the Netherlands to help its rising business in Europe, the Middle East, and Africa (EMEA). The new distribution facility will improve present and new buyer entry to GVB’s high quality hemp/hashish merchandise, pace up transaction circulate, and optimize cross border tax and customs therapy.
Recent will increase in GVB’s U.S. manufacturing capability are complementary to the arrival of the Company’s Netherlands distribution facility. Additional capability is partially earmarked to fulfill rising demand in European markets the place margins are increased than within the U.S.
“We are excited to expand our business operations in Europe, allowing our customers and partners to access quality products in a more efficient manner,” mentioned James A. Mish, chief government officer of 22nd Century Group. “With our new Netherlands distribution facility, we can now deliver product to our partners in half the time and better serve our growing customer base with quality distillate and isolates. In Europe, the hemp/cannabis industry is expanding rapidly and is expected to reach €3.2 billion by 2025. Our new facility will allow us to capture more of that market share, scale our operations, and expand our customer base in this region.”
About GVB Biopharma
GVB Biopharma, a 22nd Century firm, is a global-scale specialty ingredient provider and contract growth & manufacturing group (CDMO) with manufacturing areas in Nevada and Oregon. GVB is the most important service provider supplier of cannabinoid extracts and isolates in North America with a deal with cannabidiol (CBD) and cannabigerol (CBG) extracted and refined at an industrial scale into distillates and isolates. GVB Biopharma’s services are NSF International audited and are cGMP Registered for dietary dietary supplements manufacturing. GVB is broadly thought to be a best-in-class operator with a number one place within the hemp-derived lively elements market, with round 15% market share and rising. GVB can be a white-label contract producer of tinctures, gel capsules, gummies, mints, tablets, topical, and vape choices.
About 22nd Century Group, Inc.
22nd Century Group, Inc. (Nasdaq: XXII) is a number one agricultural biotechnology firm centered on tobacco hurt discount, decreased nicotine tobacco and enhancing well being and wellness by plant science. With dozens of patents permitting it to manage nicotine biosynthesis within the tobacco plant, the Company has developed proprietary decreased nicotine content material (RNC) tobacco crops and cigarettes, which have turn into the cornerstone of the FDA’s Comprehensive Plan to handle the widespread loss of life and illness brought on by smoking. The Company obtained the primary and solely FDA MRTP authorization of a flamable cigarette in December 2021. In tobacco, hemp/hashish, and hop crops, 22nd Century makes use of trendy plant breeding applied sciences, together with genetic engineering, gene-editing, and molecular breeding to ship options for the life science and client merchandise industries by creating new, proprietary crops with optimized alkaloid and flavonoid profiles in addition to improved yields and beneficial agronomic traits.
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Cautionary Note Regarding Forward-Looking Statements
Except for historic data, the entire statements, expectations, and assumptions contained on this press launch are forward-looking statements. Forward-looking statements sometimes comprise phrases equivalent to “anticipate,” “believe,” “consider,” “continue,” “could,” “estimate,” “expect,” “explore,” “foresee,” “goal,” “guidance,” “intend,” “likely,” “may,” “plan,” “potential,” “predict,” “preliminary,” “probable,” “project,” “promising,” “seek,” “should,” “will,” “would,” and related expressions. Actual outcomes may differ materially from these specific or implicit in forward-looking statements. Important elements that would trigger precise outcomes to vary materially are set forth in “Risk Factors” within the Company’s Annual Report on Form 10-Ok filed on March 1, 2022, and within the Company’s Quarterly Report filed on August 9, 2022. All data offered on this launch is as of the date hereof, and the Company assumes no obligation to and doesn’t intend to replace these forward-looking statements, besides as required by legislation.
GVB Biopharma U.Ok. & Europe Contact
Karl Muldowney
Commercial Director, GVB U.Ok. & Europe
[email protected]
Investor Relations & Media Contact
Mei Kuo
22nd Century Group, Inc.
Director, Communications & Investor Relations
[email protected]
Darrow Associates Investor Relations
Matt Kreps
[email protected]
