- Companies Enter into Strategic Alliance,
Referral and Technology Integration Agreement -
Applied DNA Sciences, Inc. (NASDAQ: APDN) (the “Company”), a
leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing,
today announced the signing of a definitive agreement with TruTrace
Technologies, Inc. (CSE: TTT) (“TruTrace”), developer of a
fully-integrated blockchain platform for the legal cannabis, food
and pharmaceutical industries, to approach the cannabis industry
with an integrated solution comprised of Applied DNA’s CertainT®
platform and TruTrace’s StrainSecure™ platform to deliver a
complete cannabis product validation and authentication platform
differentiated in the marketplace by linking together the power of
proprietary SaaS platforms, blockchain and molecular tagging
technology to create a secure ecosystem which provides end-to-end
traceability and full transparency.
The companies have entered into a Strategic Alliance, Referral
and Technology Integration Agreement (the “Agreement”) that allows
each company to introduce the other into existing accounts,
prospects, as well as cultivate new joint opportunities. The
Agreement also calls out the integration of the companies’
respective platforms through APIs to exchange data elements as part
of the complete chain of custody solution from source materials to
product on the shelf. There is a mutual payment structure in place
as engagements are brought online.
TruTrace’s blockchain-based SaaS software is designed to
guarantee product quality and strain genetics throughout global
supply chains. Protecting consumers and brands from contaminants
and counterfeiting is a key benefit of the platform under
development. Shoppers Drug Mart, Canada’s largest retail pharmacy
chain, currently uses TruTrace’s platform as its underpinning
technology infrastructure for traceability and accountability
associated with its medical cannabis program.
Applied DNA’s CertainT platform provides the physical tagging of
cannabis products using a unique molecular tag to represent the
brand and product. That tag is then tested at key nodes within a
domestic or international supply chain. All of this authentication
and chain-of-custody data is captured in the CertainT portal, which
under the Agreement will be integrated with the TruTrace platform.
The molecular tag can be applied to cannabis plants, oils, lotions,
tablets, edibles and packaging to serve as an immutable indicator
of authenticity, origin, and provenance.
“We believe there are clear benefits for collaboration by our
two companies to deliver a complete, end-to-end solution to
cannabis companies. We believe our combined solution will protect
our clients’ brands and IP while also assuring the consumers use
authentic and safe products,” said Dr. James A. Hayward, president
and CEO, Applied DNA.
Robert Galarza, CEO, TruTrace, said, “Partnering with Applied
DNA is a natural progressing of our go-to-market strategy to align
ourselves with best of breed technology solutions to bring
additional value to our customers and the industry as a whole.
CertainT is the perfect technology complement to our platform --
providing that extra level of true transparency and traceability
the industry needs as we enter the next phase of legalized cannabis
across the globe.”
About Applied DNA Sciences
Applied DNA is a provider of molecular technologies that enable
supply chain security, anti-counterfeiting and anti-theft
technology, product genotyping, and pre-clinical nucleic acid-based
therapeutic drug candidates.
Visit adnas.com for more information. Follow us on Twitter and
LinkedIn. Join our mailing list.
The Company’s common stock is listed on NASDAQ under ticker
symbol ‘APDN’, and its publicly traded warrants are listed on OTC
under ticker symbol ‘APPDW’.
Applied DNA is a member of the Russell Microcap® Index.
Forward-Looking Statements
The statements made by Applied DNA in this press release may be
“forward-looking” in nature within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of
1995. Forward-looking statements describe Applied DNA’s future
plans, projections, strategies, and expectations, and are based on
assumptions and involve a number of risks and uncertainties, many
of which are beyond the control of Applied DNA. Actual results
could differ materially from those projected due to its history of
net losses, limited financial resources, limited market acceptance,
including Applied DNA’s ability to successfully enter into
commercial contracts for the implementation of its CertainT®
platform, shifting enforcement priorities of US federal laws and
other international laws relating to cannabis, and various other
factors detailed from time to time in Applied DNA’s SEC reports and
filings, including our Annual Report on Form 10-K filed on December
17, 2020, and other reports we file with the SEC, which are
available at www.sec.gov. Applied DNA undertakes no obligation to
update publicly any forward-looking statements to reflect new
information, events, or circumstances after the date hereof or to
reflect the occurrence of unanticipated events, unless otherwise
required by law.
About TruTrace
Technologies
TruTrace Technologies is the
developer of fully-integrated software, secured on a blockchain
infrastructure, that gives clients’ the ability to store, manage,
share and immediately access quality assurance and testing details,
COAs, as well as motion and movement intelligence on inventory. The
platform was specifically designed to power the traceability of
testing standards within the legal cannabis, nutraceutical, food
and pharmaceutical space with a focus on the authentication of
source materials or ingredients used in formulation. For more
information, please visit www.trutrace.co.
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version on businesswire.com: https://www.businesswire.com/news/home/20210126005309/en/
Investor contact: Sanjay M. Hurry, Applied DNA Sciences,
917-733-5573, sanjay.hurry@adnas.com Program contact:
John W. Shearman, Applied DNA Sciences, 631-707-0675,
john.shearman@adnas.com Web: www.adnas.com
Twitter: @APDN
Press: Corey Herscu for TruTrace Technologies
corey@verbfactory.com (416) 300-3030 Robert Galarza, CEO
robert@trutrace.co (888) 775-4888
Follow TruTrace: LinkedIn:
https://www.linkedin.com/company/trutracetech Twitter:
https://twitter.com/trutracetech Instagram:
https://www.instagram.com/trutracetechnologies
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