Digital Ally signs exclusive distribution agreement for Redwood's nicotine cessation products, targeting vape addiction and enhancing market reach.
Quiver AI Summary
Digital Ally, Inc. has entered into a Master Distribution Agreement with Redwood Scientific Technologies, granting it exclusive global rights to distribute Redwood's nicotine cessation products, including the innovative TBX Vape-Free, designed specifically to combat vape-related nicotine addiction. This agreement positions Digital Ally as a key player in addressing nicotine dependency, with TBX Vape-Free utilizing oral thin-film technology to provide a potential solution for both vape users and traditional smokers. The company is preparing for market launch pending the successful completion of Redwood’s final clinical trials. With significant statistics revealing a large population of nicotine users in the U.S., Digital Ally aims to reshape the approach to nicotine addiction treatment.
Potential Positives
- Digital Ally gains exclusive global rights to distribute innovative nicotine cessation products, positioning itself as a leader in addressing vape dependency.
- The Agreement allows Digital Ally to commercialize a first-of-its-kind product, TBX Vape-Free, which targets nicotine addiction specifically in vape users, filling a significant gap in the market.
- This partnership with Redwood Scientific Technologies enhances Digital Ally's portfolio and supports its mission to address urgent public health issues related to nicotine addiction.
- The preparation for full-scale distribution upon successful clinical trial completion indicates proactive planning for a rapid market entry, potentially maximizing revenues once the product is approved.
Potential Negatives
- The press release highlights that no sales or marketing of the nicotine cessation products will occur until the completion of clinical trials, indicating a significant delay before any potential revenue generation.
- The reliance on forward-looking statements introduces considerable uncertainty regarding the future success of the products and the company's performance, which may negatively affect investor confidence.
- Digital Ally may face substantial risks related to the successful completion of the clinical trials for Redwood's products, with the outcome directly impacting the viability of the partnership and product launch.
FAQ
What is the Master Distribution Agreement between Digital Ally and Redwood?
Digital Ally has secured exclusive global distribution rights for Redwood’s nicotine cessation products, including TBX-Free and TBX Vape-Free.
What products are included in this agreement?
The agreement includes TBX-Free, an oral thin-film strip for cigarette smokers, and TBX Vape-Free aimed at vape users.
When will the new nicotine cessation products be available for sale?
No sales will occur until the clinical study concludes, but distribution plans are ready to launch post-approval.
What makes TBX Vape-Free unique?
TBX Vape-Free is the first product of its kind designed to target nicotine addiction specifically related to vaping.
What are the current statistics on nicotine addiction in the U.S.?
Approximately 11.6% of U.S. adults smoke cigarettes, while 4.5% report current e-cigarette use, highlighting a significant public health concern.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$DGLY Hedge Fund Activity
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Full Release
Overland Park, KS, June 23, 2025 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) today announced it has signed a Master Distribution Agreement (the “ Agreement ”) with Redwood Scientific Technologies (“Redwood”) , granting Digital Ally exclusive global rights to distribute Redwood’s clinically-driven nicotine cessation products, including TBX-Free and TBX Vape-Free .
This Agreement establishes Digital Ally as the exclusive commercialization partner for a first-of-its-kind product designed to help Americans overcome addiction to vape devices. TBX Vape-Free, delivered via oral thin-film technology, is expected to be the first product of its kind to directly target vape-related nicotine dependency. This Agreement provides Digital Ally the exclusive global rights to Redwood's full range of technologies, brands, trademarks, manufacturing processes, vendor relationships, and additional essential assets.
Redwood’s current product suite includes but are not limited to:
TBX-Free : A developmental stage oral thin-film strip designed to assist cigarette smokers in overcoming nicotine addiction. This product is holistic in nature, utilizing natural active ingredients to achieve effective outcomes.
TBX Vape-Free : A first-to-market oral thin-film strip developed to address nicotine addiction in vape users. This product, once testing is complete, will be the first of its kind, filling a critical gap in the market for addiction treatment specific to vape devices.
According to the CDC, approximately 11.6% of U.S. adults are current cigarette smokers , amounting to about 28.8 million individuals . Additionally, 4.5% of adults aged 18 and over report current e-cigarette use . Cigarette smoking remains the leading cause of preventable disease and death in the United States , responsible for over 480,000 deaths annually .
“We’re proud to be at the forefront of addressing this urgent health crisis,” said Stan Ross , CEO of Digital Ally. “Pending the successful completion of Redwood’s final-stage clinical trial, we look forward to launching a product that could reshape how the U.S. approaches nicotine addiction.”
No sales or marketing of the product will occur until the clinical study concludes. However, Digital Ally and Redwood are preparing for full-scale distribution upon study finalization, ensuring the product can rapidly reach the market once approved.
About Digital Ally, Inc.
Digital Ally Companies (NASDAQ: DGLY) through its subsidiaries, are engaged in video solution technology, healthcare revenue cycle management, ticket brokering and marketing and event production. Digital Ally continues to add organizations that demonstrate the common traits of positive earnings, growth potential, innovation and organizational synergies.
For additional news and information please visit www.digitalally.com
Forward-Looking Statements
Statements made in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on management’s current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of today’s date. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s performance or achievements to be materially different from any expected future results, performance, or achievements. Forward-looking statements speak only as of the date they are made, and the Company assumes no duty to update forward-looking statements, except as required by law. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, some of which are beyond the control of the Company, including, but not limited to, the risks described from time to time in the Company’s periodic filings with the U.S. Securities and Exchange Commission, including, without limitation, the risks described in the Company’s 2024 Annual Report on Form 10-K under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (as applicable). These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and the Company undertakes no duty to update this information.
For Additional Information, Please Contact:
Stanton E. Ross, CEO at (913) 814-7774