22nd Century to Re-Launch and Expand VLN(R) Presence in South Korea

Core Insights - 22nd Century Group, Inc. has announced a full-scale commercial rollout of its VLN® reduced nicotine content cigarettes in South Korea, following a successful pilot launch in 2022 that led to product modifications to meet local preferences [1][6][11] Company Overview - 22nd Century Group, Inc. is an agricultural biotechnology company focused on tobacco harm reduction and has developed proprietary reduced nicotine content tobacco plants and cigarettes, which are central to the FDA's Comprehensive Plan to address smoking-related health issues [8] - The company holds the first and only FDA Modified Risk Tobacco Product (MRTP) authorization for a combustible cigarette, received in December 2021 [8] Market Context - South Korea's tobacco market is estimated at $1.6 billion, with a significant smoking prevalence, where approximately one in three adult men and about 6% of adult women are smokers [11][15] - The South Korean government has shown a strong commitment to reducing smoking-related harm, making it a unique market for tobacco products [6] Partnership and Marketing Strategy - The agreement with Nico-Tech Korea, Inc. includes responsibilities for local marketing activities to generate consumer demand and awareness [7] - A full launch event is planned for Fall 2024, indicating a strategic approach to market entry and consumer engagement [15]