- Company Progressing Textile Projects
Representing New Commercial Opportunities Catalyzed by Brands and
Suppliers Prioritizing Their Commitment to Labor Rights, Social
Responsibility, and Sustainable Supply Chains -
Applied DNA Sciences, Inc. (NASDAQ: APDN) (Applied DNA or the
“Company”), a leader in Polymerase Chain Reaction (PCR)-based DNA
manufacturing and nucleic acid-based technologies, today announced
that it received purchase orders from a textile customer totaling
$1.6 million to supply molecular taggant to tag textile fibers. The
Company expects to ship the majority of the total value of the
purchase orders during the current quarter ending September 30,
2021, with the balance expected to be shipped in the subsequent
quarter.
Concurrently, the Company announced that it is progressing
textile projects (cotton, man-made cellulosic fibers, recycled
polyester, leather, down and feather, and specialty coatings) with
leading apparel brands that, if successful and adopted by said
brands and their suppliers, would represent new commercial
opportunities for Applied DNA in fiscal 2022. These projects
include textiles of multiple fibers with customer operations in the
Americas, Europe, the U.K., and Southeast Asia.
The molecular taggant, a key component to CertainT®, the
Company’s traceability system, serves as a unique identifier that
can be tested for its presence as the tagged material travels
throughout virtually any global supply chain. CertainT for textiles
is proven at a commercial scale, which is essential to brands and
manufacturers with diversified supply chains that require scale,
flexibility, and traceability.
“We are pleased to see demand for tagged textiles approaching
pre-pandemic levels,” said MeiLin Wan, vice president of Textile
Sales at Applied DNA. “The pandemic has forced textile brands and
their suppliers to reimagine their supply chain models to
prioritize sustainability, brand protection, and supply chain
traceability. Having spent the pandemic positioning CertainT as the
means through which to accelerate their traceability investments,
we believe that the projects before us represent the future of
textile supply chain traceability.”
Added Dr. James A. Hayward, president and CEO of Applied DNA,
“The shock waves created by the pandemic, together with newly
expanded government regulations that require greater proof of
product provenance, have created an urgent need for supply chain
traceability that can only be addressed, we believe, through a
holistic approach that marries secure technologies and systems to
deliver true end-to-end traceability. With CertainT, brands and
their suppliers can deliver on their brand promise from fiber to
finished goods utilizing a platform that is proven at commercial
scale across three continents. Unlike our competitors, we believe
CertainT provides cost-effective supply chain traceability that can
withstand the scrutiny of government agencies and judicial court
systems. CertainT is the trust that brands and their suppliers seek
and that which their customers demand and deserve.”
About the CertainT® Platform
The CertainT platform has three technology pillars (Tag, Test,
Track), which allows raw materials and products to be tagged with a
unique molecular identifier. This identifier can then be tested for
its presence as it travels throughout a global supply chain. All
the data points associated with tagging and testing are tracked by
uploading to a secure cloud database. The CertainT platform can be
used across industries, including textiles, cannabis, military,
leather, fertilizer, pharmaceuticals, and personal care.
About Applied DNA Sciences
Applied DNA is commercializing LinearDNA™, its proprietary,
large-scale polymerase chain reaction (“PCR”)-based manufacturing
platform that allows for the large-scale production of specific DNA
sequences.
The LinearDNA platform has utility in the nucleic acid-based in
vitro diagnostics and preclinical nucleic acid-based drug
development and manufacturing market. The platform is used to
manufacture DNA for customers as components of in vitro diagnostic
tests and for preclinical nucleic acid-based drug development in
the fields of adoptive cell therapies (CAR T and TCR therapies),
DNA vaccines (anti-viral and cancer), RNA therapies, clustered
regularly interspaced short palindromic repeats (CRISPR) based
therapies, and gene therapies.
The LinearDNA platform also has non-biologic applications, such
as supply chain security, anti-counterfeiting and anti-theft
technology. Key end-markets include textiles, pharmaceuticals and
nutraceuticals, and cannabis, among others.
Leveraging its deep expertise in nucleic acid-based
technologies, the Company has also established safeCircle™, a
pooled COVID-19 testing program that is grounded in the Company’s
EUA-authorized Linea™ COVID-19 Assay Kit. safeCircle is designed to
look for infection within defined populations or communities
utilizing pooled testing methodologies that increase testing
efficiencies. The Company has also developed and intends to seek
EUA-authorization for its LineaTM SARS-CoV-2 Mutation Panel, an
assay-based panel for the detection of certain SARS-CoV-2 genetic
mutations.
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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, the uncertainties inherent in research and development,
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 Quarterly Reports on Form 10-Q
filed on February 11, 2021, May 13, 2021, and August 12, 2021, 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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version on businesswire.com: https://www.businesswire.com/news/home/20210927005404/en/
For Applied DNA: Investor contact: Sanjay M.
Hurry, 917-733-5573, sanjay.hurry@adnas.com Program contact:
MeiLin Wan, 631-240-8849, meilin.wan@adnas.com Web:
www.adnas.com Twitter: @APDN
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