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

ZYN Nicotine Pouches Seek MRTP Authorization; FDA Sets January Meeting

The U.S. FDA has scheduled a Tobacco Products Scientific Advisory Committee (TPSAC) meeting for January 22, 2026, to review Swedish Match USA’s Modified Risk Tobacco Product (MRTP) applications for 20 ZYN nicotine pouch products. Although the products gained PMTA authorization in early 2025, MRTP approval is required for marketing them with reduced-risk claims.

Nov.24 by 2FIRSTS.ai

Study: TikTok Content Frames Nicotine Pouches as “Trendy Accessories,” Diluting Risk Perception Among Youth

A study published in JMIR Formative Research analyzed 132 TikTok videos related to nicotine pouches and found that platform content predominantly presents these products as a “youthful trend” rather than as smoking cessation tools. Health risks are underrepresented, the user base appears largely male, and this portrayal may influence how adolescents perceive the risks associated with nicotine products.

Dec.04 by 2FIRSTS.ai

Singapore Police Dismantle Cross-Border E-Cigarette Smuggling Ring, Arrest 12 and Seize Over 64,000 Devices

Singapore authorities crack down on cross-border e-cigarette smuggling syndicate, arresting 12 individuals and seizing over $43,000 worth of contraband.

Oct.20 by 2FIRSTS.ai

South Korea Implements Public Tobacco Harmfulness Management Program, Including 22 Harmful Components in E-Cigarettes

South Korea’s Ministry of Health and Welfare and the Ministry of Food and Drug Safety convened the first 2025 Tobacco Harmfulness Management Policy Committee, finalizing new lists of harmful substances for cigarettes, heated tobacco products, and liquid e-cigarettes to be publicly disclosed from next year.