NICOCCINO´S FOCUS SHIFTING TO DRUG CLASSIFICATION
Nicoccino™ provides the fastest and most efficient delivery of nicotine, something made possible by more than a decade of research and development. Now the company strengthens its focus on creating a product platform that can be used by partners who wish to expand their company's product portfolio.
"We know that we have a great product, and have through consumer feedback and sales activities seen that it works, but we are too small to expand globally. As a consequence, we are preparing for one or several international partnerships in order to reach out worldwide." says Johan Cram, CEO of Nicoccino Holding AB.
In concrete terms, the change means a prioritization of achieving the drug classification, which is of great importance when setting up partnerships. Therefore, the focus on sales to consumers is reduced. This will impact the organization in UK who have been notified about risk of redundancy.
"We want to free up resources to get the platform classified as a nicotine replacement therapy. This implies maintaining online sales but discontinuing sales in physical stores which has been driven from UK" adds Johan Cram.
For more information, visit Nicoccino’s webpage http://nicoccino.se/en or contact:
Johan Cram, CEO
+46 708 980418
About Nicoccino Holding AB
Nicoccino AB develops and markets a patented, innovative and discrete nicotine product that instantly provides the user with nicotine without the detrimental side effects of traditional tobacco products. The product has the same name as the company – Nicoccino™ – and is manufactured through partners. Nicoccino™ is currently sold in the UK, Germany, Czech Republic, Poland and through our online platform (purenicoccino.com). Nicoccino`s head quarter is located in Täby outside of Stockholm and a sales office in London. The company's share has been listed on Nasdaq Stockholm First North since June 2014 and can be found under the abbreviation NICO.
Remium Nordic AB is Nicocino Holding's Certified Adviser.