British American Tobacco and Kind Consumer announce a new approach to commercialise Voke
05 January 2017
British American Tobacco plc (“BAT”) and the board of Kind Consumer Limited (“Kind”) have announced a new approach to commercialise the Voke nicotine inhaler.
The two companies have reached a mutually satisfactory agreement on the financial aspects of this new approach. BAT's manufacturing, intellectual property and know-how assets will be assigned to Kind in return for deferred, contingent payments. Accordingly, Kind will take back ownership for the commercialisation of Voke, allowing Kind to embrace the full economics of the opportunity.
Kingsley Wheaton, Managing Director Next Generation Products, BAT, said: “We will be prioritising and focussing on the Vapour and Tobacco Heating consumer segments within our Next Generation Product portfolio with our Vype™ and glo™ brands. We do recognise the focus and single-mindedness Kind can bring will be an asset to the speedy commercialisation of Voke.”
Paul Triniman, Chief Executive of Kind, said: “We will be working hard to ensure that this new medical product indicated to aid smokers wishing to quit or reduce prior to quitting, to assist smokers who are unable or unwilling to smoke, and as a safer alternative to smoking for smokers and those around them, gets to consumers as fast as possible. We will be seeking a new global partner, or possibly several regional partners, to accelerate the distribution of the nicotine inhaler during 2017.”
Paul Triniman concludes: “We believe the differentiated technology, effective nicotine delivery and discreteness of Voke offers an important niche in the multi-billion dollar, fast-growing, harm-reduction market. We are excited about bringing this unique product to the market as soon as possible.”