22nd Century (Nasdaq: XXII) Appoints Dr. Calvin Treat as Chief Scientific Officer

Rhea-AI Summary

22nd Century Group has appointed Dr. Calvin Treat as Chief Scientific Officer, effective May 23, 2022, to enhance its expertise in plant-based biotechnology. Dr. Treat joins with extensive experience from Bayer, where he managed over $2 billion in R&D for crops. He aims to lead the company’s expanding scientific operations across its alkaloid plant franchises, focusing on tobacco, hemp/cannabis, and hops. Under his leadership, the company plans to leverage its patented technologies and global partnerships in the $1.3 trillion market for plant science.

Positive

• Appointment of Dr. Calvin Treat, an expert in plant biotechnology, as Chief Scientific Officer.
• Dr. Treat's extensive experience in managing significant R&D expenditures, potentially benefiting the company's innovation strategy.
• 22nd Century's focus on three key alkaloid franchises may enhance growth opportunities.

Negative

• Concerns about continuity and experience gaps due to management changes.

Further Enhances 22nd Century Group’s Deep Expertise in Plant-Based Biotechnology

BUFFALO, N.Y., April 11, 2022 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (Nasdaq: XXII), a leading agricultural biotechnology company focused on tobacco harm reduction, reduced nicotine tobacco, and improving health and wellness through modern plant science, announced the appointment of Dr. Calvin Treat as Chief Scientific Officer, effective May 23, 2022. In this new role, Dr. Treat will lead the expanding scientific, research and technological operations of the company, leveraging its expertise, IP, and partnerships across all three of its alkaloid plant franchises toward becoming a global leader in specialty plant science.

“Dr. Treat brings a wealth of plant-based biotechnology and crop technology experience to 22nd Century at a pivotal time when we are rapidly expanding our global capabilities across all three of our alkaloid plant franchises – tobacco, hemp/cannabis, and hops,” said James A. Mish, chief executive officer of 22nd Century Group. “Dr. Treat has spent his career at the largest plant science names in the world, leading their innovations on major crops like corn, soybeans, and cotton. We look forward to his leadership as we continue to leverage our extensive technology platform comprising hundreds of patents, extensive know-how and global partnerships supporting our leadership in plant genetics, breeding and cultivation underpinning our growth opportunities across a growing $1.3 trillion worldwide market opportunity.”

“22nd Century is rapidly establishing itself as the global alkaloid plant technology leader, bringing to bear an extensive upstream capability to optimize plant lines and enhance critical commercial traits that directly benefit quality, cost, and consumer confidence in the end products. The Company is leveraging the most advanced plant science techniques and building a global IP and capability set that may be unrivaled in their respective crops,” said Dr. Treat. “I am excited to join 22nd Century at this pivotal moment to lead the company onto the global stage as more and more of the world’s leading alkaloid plant growers come to recognize the incredible value of 22nd Century’s portfolio.”

Dr. Treat previously served as senior vice president and head of crop technology for corn, soybean, and cotton at Bayer, where he oversaw more than $2 billion in R&D spending dedicated to seeds, traits, and crop protection while also driving tailored solutions to meet grower needs. Previously, he was the technology lead for Monsanto’s global corn and soy crops, where he merged the soy and corn technology teams to garner synergies across the platforms. While part of the Monsanto teams, he was involved in the launches of multiple technologies including Roundup Ready 2 Yield^® soybeans, Intacta^® RR2 Pro soybeans in South America, and Roundup Ready 2 Xtend^® soybean technology across North America, one of Monsanto’s largest and most complex trait launches. His additional roles at Monsanto included global corn technology lead, global oilseeds technology lead and global soybean breeding lead, among others.

Dr. Treat has a doctorate in plant breeding and plant genetics from the University of Wisconsin-Madison, an executive MBA from the University of Nebraska at Omaha, a Master of Science in Agronomy from the University of Wisconsin-Madison, and a Bachelor of Science in Agriculture Economics from the University of Nebraska-Lincoln.

About 22nd Century Group, Inc.
22nd Century Group, Inc. (Nasdaq: XXII) is a leading agricultural biotechnology company focused on tobacco harm reduction, reduced nicotine tobacco and improving health and wellness through plant science. With dozens of patents allowing it to control nicotine biosynthesis in the tobacco plant, the Company has developed proprietary reduced nicotine content (RNC) tobacco plants and cigarettes, which have become the cornerstone of the FDA’s Comprehensive Plan to address the widespread death and disease caused by smoking. The Company received the first and only FDA MRTP authorization of a combustible cigarette in December 2021. In tobacco, hemp/cannabis, and hop plants, 22nd Century uses modern plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding to deliver solutions for the life science and consumer products industries by creating new, proprietary plants with optimized alkaloid and flavonoid profiles as well as improved yields and valuable agronomic traits.

Learn more at xxiicentury.com, on Twitter, on LinkedIn, and on YouTube.

Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements typically contain terms such as “anticipate,” “believe,” “consider,” “continue,” “could,” “estimate,” “expect,” “explore,” “foresee,” “goal,” “guidance,” “intend,” “likely,” “may,” “plan,” “potential,” “predict,” “preliminary,” “probable,” “project,” “promising,” “seek,” “should,” “will,” “would,” and similar expressions. Actual results might differ materially from those explicit or implicit in forward-looking statements. Important factors that could cause actual results to differ materially are set forth in “Risk Factors” in the Company’s Annual Report on Form 10-K filed on March 11, 2021. All information provided in this release is as of the date hereof, and the Company assumes no obligation to and does not intend to update these forward-looking statements, except as required by law.

Investor Relations & Media Contact:
Mei Kuo
22nd Century Group, Inc.
Director, Communications & Investor Relations
T: 716-300-1221
mkuo@xxiicentury.com

Darrow Associates Investor Relations
Matt Kreps
T: 214-597-8200
mkreps@darrowir.com

FAQ

What is the significance of Dr. Calvin Treat's appointment as Chief Scientific Officer at 22nd Century Group?

Dr. Calvin Treat's appointment is significant as he brings extensive experience in plant-based biotechnology, which aligns with 22nd Century's goal to expand its scientific capabilities in the alkaloid plant market.

How does Dr. Treat's experience at Bayer impact 22nd Century Group?

Dr. Treat's experience at Bayer, where he oversaw substantial R&D spending, may enhance 22nd Century's innovation and strategic capabilities in crop technology.

What markets does 22nd Century Group focus on under Dr. Treat's leadership?

Under Dr. Treat's leadership, 22nd Century Group focuses on expanding its capabilities in tobacco, hemp/cannabis, and hops, which are part of its alkaloid plant franchises.

What are the growth opportunities for 22nd Century Group following the management change?

The growth opportunities for 22nd Century Group include leveraging its extensive patented technologies and capitalizing on the growing global market for specialty plant science, estimated at $1.3 trillion.