Jul 13, 2023 | staff reporter

NEW YORK – Applied DNA Sciences announced on Thursday that it acquired RNA polymerase developer Spindle Biotech.

The acquisition enables Applied DNA to combine its LinearDNA IVT platform with Spindle’s proprietary, high-performance RNA polymerase (RNAP) into an integrated platform called LineaIVT, for which Applied DNA also launched an early access program.

The Stony Brook, New York-based company expects LineaIVT to offer several advantages over conventional plasmid DNA-based mRNA production. These include higher target mRNA yields from the prevention or reduction of double-stranded RNA contamination; milligram scale IVT templates that can be delivered in as little as 14 days and gram scale templates in 30 days; and reduced mRNA manufacturing complexities.

Under the terms of the acquisition agreement, Applied DNA assumed all outstanding shares of Toronto-based Spindle for an upfront purchase consideration of $625,000, adjusted for debt and transaction expenses; 750,000 restricted shares of Spindle’s common stock; and future contingent consideration of up to 1 million shares of Spindle’s common stock pending certain commercialization and revenue milestones. The agreement also provides for a 10-year revenue share based on the net sales generated by the LineaIVT platform.

Spindle Cofounder and CEO Aaron Chung is joining Applied DNA as director of nucleic acid platforms.