22nd Century Group Acquires RX Pharmatech Ltd

January 24, 2023

22nd Century Group, through its GVB Biopharma business, acquired UK-based RX Pharmatech Ltd, a distributor of cannabinoid/CBD products and holder of numerous U.K. novel food applications. The deal includes $650,000 up-front in cash and stock plus a three-year equity earn-out tied to revenue milestones and aims to strengthen 22nd Century's access and distribution in the U.K. and EU consumer CBD market.

Buyers
22nd Century Group, Inc., GVB Biopharma
Targets
RX Pharmatech Ltd
Industry
Food & Beverage
Location
United Kingdom
Transaction Type
Buyout

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