GVB Biopharma to be privately controlled by founding team

GVB Biopharma is going back to being a private entity controlled by its founding team as of December 28, 2023. The company was acquired by NASDAQ-listed 22nd Century Group in May 2022.

"This transition allows for a more agile approach in meeting the evolving needs of the global hemp and cannabis markets while pursuing ambitious growth and excellence in serving its customers," said Drew Spiegel, Chief Executive Officer of GVB Biopharma.

"As the hemp industry continues to mature, our vision and capabilities align perfectly with the market's direction. We are excited to lead the charge in this next phase of industry growth, driven by our commitment to quality, innovation, and our valued customers."