Home
Company
Product
Regulation
China
Data
Exhibition
Interview
中文版
Home
Company
Product
Regulation
China
Data
Exhibition
Interview
中文版
Search

22nd Century Group Inc Sells GVB Biopharma for $2.25 Million

Business by 2FIRSTS.ai
Nov.29.2023
22nd Century Group Inc Sells GVB Biopharma for $2.25 Million
US cigarette manufacturer, 22nd Century Group Inc, has sold its cannabis subsidiary, GVB Biopharma, for $2.25 million, exiting the industry after less than 18 months.

According to a report by Journalnow on November 29, American cigarette manufacturer 22nd Century Group Inc has announced the sale of its cannabis subsidiary, GVB Biopharma, for a sum of $2.25 million. This move signifies the company's formal exit from the cannabis industry, which proved to be a significant financial burden in less than a year and a half.

 

According to regulatory documents released on Monday, the purchaser of GVB is Specialty Acquisition Corp, a professional acquisition company based in Nevada.

 

References:
[1] 22nd Century plans to exit cannabis business at steep loss
Also Read:
[1] 22nd Century Group Plans to Publicly Issue Stock and Warrants

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

China Tobacco Regulation Shift：Policy Updates and Market Impact
China Tobacco Regulation Shift：Policy Updates and Market Impact
Product | Claiming a “first multi-beverage vaporizer” with refillable juice/cocktail water chamber, PEAKBAR launches new device in the U.S.
Product | Claiming a “first multi-beverage vaporizer” with refillable juice/cocktail water chamber, PEAKBAR launches new device in the U.S.
PEAKBAR’s new H2O 40K has begun selling through U.S. online retailers including Vape Sourcing. Marketed as the “world’s first multi-beverage vaporizer,” the device is promoted as allowing users to add liquids such as juice and cocktails into a water chamber for pairing. Publicly listed specifications include 20 ml of e-liquid, a rated 40,000 puffs, 0.5% nicotine, a 1,000 mAh rechargeable battery, and two power modes at 22W and 12W.
Jan.22 by 2FIRSTS.ai
Federal Register notice: FDA seeks comments on “Warning Plans for Certain Tobacco Products”
Federal Register notice: FDA seeks comments on “Warning Plans for Certain Tobacco Products”
The U.S. Food and Drug Administration (FDA) issued a notice stating it has submitted a proposed information collection to the Office of Management and Budget (OMB) for review under the Paperwork Reduction Act.
Jan.16 by 2FIRSTS.ai
The Spark of Reason| 2Firsts 2026 New Year Message
The Spark of Reason| 2Firsts 2026 New Year Message
Looking ahead to 2026, we do so with genuine anticipation. This will be a milestone year—the dawn of a new era.
Jan.01
Spain’s Competition Authority Questions Disposable Vape Ban
Spain’s Competition Authority Questions Disposable Vape Ban
Spain’s National Commission on Markets and Competition (CNMC) has issued an opinion on the draft reform of the Tobacco Law proposed by the Ministry of Health, urging reconsideration of several measures. These include a proposed ban on disposable e-cigarettes and the full alignment of vaping products with traditional tobacco regulation.
Dec.17 by 2FIRSTS.ai
France drops a vaping clause from the 2026 finance bill after use of Article 49.3
France drops a vaping clause from the 2026 finance bill after use of Article 49.3
A provision in France’s 2026 finance bill intended to regulate vaping products was abandoned after Sébastien Lecornu used Article 49.3 on January 20 to commit the government’s responsibility on the “revenue” section of the state budget.
Jan.21 by 2FIRSTS.ai
$200 Million Investment to Advance Smokeless Product Manufacturing at Reynolds
$200 Million Investment to Advance Smokeless Product Manufacturing at Reynolds
Reynolds American Inc. announced it will create 200 new manufacturing positions in 2026 at its Tobaccoville, North Carolina, Operations Center, bringing total new roles added over the past two years to more than 1,000. The company added 800 jobs between 2024 and 2025. These roles will support the continued growth of Velo Plus nicotine pouches and Reynolds’ expanding multi-category portfolio, aligned with its mission to build a smokeless world.
Dec.11 by 2FIRSTS.ai
Related Topics
HEADLINE News Company
Related Read
Product | Claiming a “first multi-beverage vaporizer” with refillable juice/cocktail water chamber, PEAKBAR launches new device in the U.S.
Product | Claiming a “first multi-beverage vaporizer” with refillable juice/cocktail water chamber, PEAKBAR launches new device in the U.S.
2FIRSTS.ai
Federal Register notice: FDA seeks comments on “Warning Plans for Certain Tobacco Products”
Federal Register notice: FDA seeks comments on “Warning Plans for Certain Tobacco Products”
2FIRSTS.ai
The Spark of Reason| 2Firsts 2026 New Year Message
The Spark of Reason| 2Firsts 2026 New Year Message
Spain’s Competition Authority Questions Disposable Vape Ban
Spain’s Competition Authority Questions Disposable Vape Ban
2FIRSTS.ai
France drops a vaping clause from the 2026 finance bill after use of Article 49.3
France drops a vaping clause from the 2026 finance bill after use of Article 49.3
2FIRSTS.ai
$200 Million Investment to Advance Smokeless Product Manufacturing at Reynolds
$200 Million Investment to Advance Smokeless Product Manufacturing at Reynolds
2FIRSTS.ai
FOLLOW US ON SOCIAL MEDIA
Contact: info@2firsts.com
Stay up to date.
Submit your email to receive weekly newsletter on the most relevant news of the e-cigarette industry.
© 2026 2FIRSTS. All Right Reserved.
2FIRSTS is only accessible to industry practitioners, researchers, media and other professionals. Access by minors is prohibited.
This website provides services to users outside the Chinese mainland.
English
English
中文