The 22nd Century Group says that a 2013 Research License and Commercial Option Agreement between it and British American Tobacco (Investments) Limited is now at an end.
‘BAT no longer has rights to any intellectual property or other assets of 22nd Century; 22nd Century is now again in sole control of the company’s highly disruptive intellectual property portfolio relating to the ability to grow patent-protected Very Low Nicotine tobacco plants,’ 22nd said in a press note issued through Business Wire.
‘Accordingly, the company has recommenced discussions with global tobacco companies and international pharmaceutical companies that have expressed strong interest in a business relationship with 22nd Century but were, until now, unable to enter into a licensing agreement with 22nd Century due to restrictive covenants contained in the BAT agreement.’