Agreement leverages BLC’s leather processing expertise and strong ties to the global leather industry
STONY BROOK N.Y., November 19, 2018 – Applied DNA Sciences Inc. (NASDAQ: APDN, “Applied DNA,” “the Company”), the leader in large-scale PCR-based DNA manufacturing, announced today the signing of a Collaboration Agreement (the “Agreement”) with Eurofins BLC Leather Technology Center LTD (“BLC”) to support the commercial implementation of Applied DNA’s SigNature® T-based leather traceability system (the “System”). The signing of the Agreement follows the successful completion of the funded consortium research project with BLC as announced in May 2018.
Tony Benson, Applied DNA’s Managing Director with responsibility for Europe, Middle East and Africa (EMEA) commented, “We are thrilled to enter into this mutually beneficial relationship with BLC to advance the commercial implementation of our leather tagging system. BLC’s unparalleled knowledge in all aspects of leather processing, long-standing relationships with global brands, and its history of forward-thinking innovation makes them an ideal partner.”
Dr. James Hayward president and CEO of Applied DNA stated, “This agreement with BLC significantly enhances our position for the commercial implementation of our leather tagging system. We already have keen interest in the commercial adoption of our system from several project sponsors. We are targeting a defined goal of having 300,000,000 square feet of DNA-tagged leather under contract over the next five years. BLC’s knowledge in the industry and technical expertise will be invaluable to these efforts.”
Adam Hughes, Managing Director of Eurofins BLC Leather Technology stated, “There is a strong need within the leather industry to provide a robust system of traceability for semi-processed and finished leather. This cost-effective application system provides a process for applying a unique molecular tag in a way that is impossible to counterfeit. Eurofins BLC looks forward to supporting our customers in their journey towards supply chain transparency and traceability.”
BLC is a leading, leather and chemical testing, consulting, auditing and technology centre, established over 95 years ago.
As a laboratory exclusively dedicated to leather, footwear, chemical, and leather product testing, BLC has the technical pedigree to ensure fast and accurate solutions to technical, management or environmental leather problems.
Eurofins Scientific is an International group of laboratories headquartered in Luxembourg, providing testing and support services to the pharmaceutical, food, environmental, agroscience and consumer products industries. It is a leading provider of analytical services with an international network of more than 400 laboratories across 44 countries. Through research and development, in-licensing and acquisitions, the Group draws on the latest developments in the biotechnology and analytical sciences field.
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.
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.
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.