Through the agreement, the companies will collaborate and cross-license vapor product technologies through 2022.
R.J. Reynolds Tobacco Co., an indirect subsidiary of Reynolds American Inc., announced on Dec. 1, that it has signed a definitive vapor technology-sharing and licensing agreement with Nicoventures Holdings Limited, a subsidiary of British American Tobacco p.l.c. (BAT).
The companies signed a term sheet in September, providing a framework for collaboration and mutual cross-licensing of vapor product technologies through 2022. Under the agreement, R.J. Reynolds and Nicoventures will collaborate to develop next-generation vapor products. This collaboration includes a process for joint research and development (R&D) activities, and cooperation on regulatory, scientific and manufacturing issues related to vapor products.
“This is a great opportunity for the companies to continue to seek innovation in the vapor category, giving adult tobacco consumers more smoke-free options to consider,” said Debra Crew, R.J. Reynolds’ president and chief operating officer.
R.J. Reynolds Tobacco Company, an indirect subsidiary of Reynolds American Inc., is the second-largest tobacco company in the U.S. R.J. Reynolds’ brands include Newport, Camel and Pall Mall.