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
Glas, the FDA, and the Future of Flavored ENDS
Glas, the FDA, and the Future of Flavored ENDS
Australian police seize tobacco and vape products in roadside stop: goods valued at A$784,950
Australian police seize tobacco and vape products in roadside stop: goods valued at A$784,950
Australian police say that during a roadside inspection in southern New South Wales, they seized 293,200 cigarettes, 265kg of hard-pressed tobacco leaf and 2,290 vape products from a van bearing Victorian number plates, with an estimated street value of A$784,950.
Feb.26 by 2FIRSTS.ai
Altria Announces Nationwide Retail Expansion of on! PLUS Nicotine Pouches
Altria Announces Nationwide Retail Expansion of on! PLUS Nicotine Pouches
Altria Group, Inc. announced the nationwide retail expansion of on! PLUS nicotine pouches, a product manufactured by Helix Innovations LLC, an Altria operating company. The product had already been available through e-commerce and participating retailers in North Carolina, Florida and Texas, began wholesale deliveries on March 16, 2026, and is expected to reach participating retailers nationwide starting March 23, 2026.
Mar.24 by 2FIRSTS.ai
Azerbaijan parliament passes third-reading amendments introducing e-cigarette penalties, effective April 1, 2026
Azerbaijan parliament passes third-reading amendments introducing e-cigarette penalties, effective April 1, 2026
Azerbaijan’s Milli Majlis has adopted, in its third reading, amendments to the Code of Administrative Offences introducing fines and confiscation for the use of e-cigarettes and their components, as well as import, export, production, wholesale and retail sales, and storage for sale.
Mar.04 by 2FIRSTS.ai
Sesh Launches 200-Pouch Refill Bag, Expanding Retail Unit Size in U.S. Nicotine Pouch Market
Sesh Launches 200-Pouch Refill Bag, Expanding Retail Unit Size in U.S. Nicotine Pouch Market
According to a LinkedIn post published by Sesh CMO Josh Metz on February 25, 2026, Sesh Products has introduced a 200-pouch nicotine pouch refill bag sold with a reusable metal can. In a U.S. MO market dominated by 20-pouch plastic cans, the product offers a larger retail unit size. The company lists a standard price of USD 49.99, with a uniform 15% discount currently applied, bringing the price to USD 42.49.
Innovation
Feb.25
Manchester’s Cheetham Hill Hosts 54 Vape Shops Across Two Streets
Manchester’s Cheetham Hill Hosts 54 Vape Shops Across Two Streets
Cheetham Hill in Greater Manchester has become one of the UK’s most concentrated vape retail clusters, with 54 e-cigarette shops operating along two adjacent streets following a police crackdown on counterfeit goods in the area.
Feb.21
Hillsborough County Public Schools to install vaping detection sensors across all high schools
Hillsborough County Public Schools to install vaping detection sensors across all high schools
Hillsborough County Public Schools (HCPS) announced it will install vaping detection sensors across all high schools in Hillsborough County as part of what officials called a “proactive step” toward healthier and safer learning environments. District staff said the sensors are intended to help reduce vaping on campus, support student well-being and encourage positive behavior change.
Feb.26 by 2FIRSTS.ai
Related Topics
HEADLINE News Company
Related Read
Australian police seize tobacco and vape products in roadside stop: goods valued at A$784,950
Australian police seize tobacco and vape products in roadside stop: goods valued at A$784,950
2FIRSTS.ai
Altria Announces Nationwide Retail Expansion of on! PLUS Nicotine Pouches
Altria Announces Nationwide Retail Expansion of on! PLUS Nicotine Pouches
2FIRSTS.ai
Azerbaijan parliament passes third-reading amendments introducing e-cigarette penalties, effective April 1, 2026
Azerbaijan parliament passes third-reading amendments introducing e-cigarette penalties, effective April 1, 2026
2FIRSTS.ai
Sesh Launches 200-Pouch Refill Bag, Expanding Retail Unit Size in U.S. Nicotine Pouch Market
Sesh Launches 200-Pouch Refill Bag, Expanding Retail Unit Size in U.S. Nicotine Pouch Market
Manchester’s Cheetham Hill Hosts 54 Vape Shops Across Two Streets
Manchester’s Cheetham Hill Hosts 54 Vape Shops Across Two Streets
Hillsborough County Public Schools to install vaping detection sensors across all high schools
Hillsborough County Public Schools to install vaping detection sensors across all high schools
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