Reflects continuing demand for traceable cotton and synthetic textiles,
new food-based agriculture applications and growing LineaRx business
STONY BROOK N.Y., October, 24, 2018 – Applied DNA Sciences Inc. (NASDAQ: APDN) (“Applied DNA” or the “Company”), the leader in large-scale PCR-based DNA manufacturing, has entered its FY2019 with strong momentum in the first month in textiles, food-based agriculture and through the LineaRx subsidiary. Textiles business expansion includes a shipment of taggant for the upland Delta cotton variety in the current 2018-2019 ginning season, two new pilots for the Company’s CertainT® system in synthetic textiles (following one additional customer pilot completed in September) and one new feasibility study for the tagging of a food-based agricultural commodity. LineaRx, the Company’s wholly-owned subsidiary focused on next-generation biotherapeutics, received a new order for PCR-produced DNA for biotherapeutic application(s).
“Our structure for managing people, processes and technologies supporting global cotton supply chains, from the U.S. and Australian cotton gins, to local customer sales and support in India and Europe, through to our testing labs in Stony Brook and Ahmedabad, India and our partnerships with IT platform companies, has been a necessary investment for our unique selling proposition in end-to-end supply chain traceability. This sets a foundation from which our other supply chain pilots can be initiated and completed more quickly,” stated Dr. James Hayward, president and CEO of Applied DNA.
Continued Dr. Hayward: “Our LineaRx opportunity looks strong, with steady inquiries incoming for DNA biotherapeutic products as the benefits of linear, PCR-produced DNA is highlighted in the media.”
Applied DNA is a provider of molecular technologies that enable supply chain security, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics and therapeutics.
We make 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.
The Company’s common stock is listed on NASDAQ under the symbol APDN, and its 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 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 our history of losses, limited financial resources, limited market acceptance, the uncertainties inherent in research and development, future clinical data and analysis, including whether any of Applied DNA’s product candidates will advance further in the preclinical research or clinical trial process, including receiving clearance from the U.S. Food and Drug Administration or equivalent foreign regulatory agencies to conduct clinical trials and whether and when, if at all, they will receive final approval from the U.S. FDA or equivalent foreign regulatory agencies, 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 28, 2017 and our subsequent quarterly reports on Form 10-Q filed on February 8, 2018, May 3, 2018 and August 13, 2018, which are available at www.sec.gov. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events, unless otherwise required by law.
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