Applied DNA Sciences (NASDAQ:APDN)
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2 Months : From Oct 2019 to Dec 2019
Newly Allowed Patent Covers use of the CertainT ® Platform in Cellulosic Fibers and Materials including Rayon; Company Currently in Discussions with Leading Manufacturers
Applied DNA Sciences, Inc. (NASDAQ: APDN) (“Applied DNA” or the “Company”) a leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing for product authenticity and traceability solutions, announced today that it has received a Notice of Allowance for its U.S. Patent Application No. 15/466,016 (US 2017/0292206) entitled “Methods of Marking Cellulosic Products.” The allowed patent application, which is expected to be issued as a U.S. patent in the next few months, extends the Company’s patent protection for its CertainT platform into cellulosic fibers and materials. The Company has related international patent applications pending in India, the European Union, China and Hong Kong.
The allowed claims cover methods of tagging cellulosic fibers or materials with a nucleic acid (DNA) tag during production and later authenticating the nucleic acid-tagged cellulosic fibers and/or materials via PCR-based detection techniques.
Cellulosic fibers and materials are man-made and are derived from plant-based resources (cellulose). Notable cellulosic fibers and materials include rayon. The demand for cellulosic fibers and materials is rapidly expanding, with a market size estimated to surpass USD 39 billion by 2024, growing at an annual rate of 9%1.
“We are in commercial stage discussions with some of the world’s largest cellulosic fiber and materials manufacturers for the implementation of our proven CertainT platform,” said Dr. James Hayward, president and Chief Executive of Applied DNA. “The newly allowed patent is a significant milestone for the Company as it enhances our intellectual property portfolio and provides potential exclusivity for our CertainT platform in the ever-growing cellulosic fiber and materials market.”
Dr. Hayward continued: “Since many man-made cellulosic materials such as rayon (with component fibers known as lyocell, viscose and modal) are derived from trees, traceability to assure brand claims for responsible sourcing and sustainable claims is important. The CertainT solution assists fiber producers in ensuring the authenticity and traceability of their branded fibers. We have successfully demonstrated the robust performance of the CertainT molecular tag in commercial production environments from fiber to fabric with top-tier rayon manufacturers in both home goods and apparel.”
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 isolation of circulating tumor cells and the development of pre-clinical nucleic acid-based therapeutic drug candidates.
Applied DNA makes life real and safe by providing innovative, molecular-based technology solutions and services that can help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion.
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Common stock listed on NASDAQ under the symbol APDN, and warrants are listed under the symbol APDNW.
The statements made by Applied DNA in this press release may be “forward-looking” in nature within the meaning of 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 ability to continue as a going concern, its history of net losses, limited financial resources, limited market acceptance, uncertainties relating to its ability to maintain its NASDAQ listing in light of delisting notices received and its recent hearing, our ability to penetrate key markets, our ability to successfully enter into commercial contracts for the implementation of our CertainT® platform, 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 18, 2018, as amended, our subsequent quarterly reports on Form 10-Q filed on February 7, 2019, May 9, 2019 and August 13, 2019, 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.
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