ETCH biotrace to Combine Applied DNA’s DNA tag-based Forensic Traceability and Authenticity with TruTrace's Industry Blockchain Hub to Deliver Unparalleled Tag-Test-Track Capabilities to Global Cannabis and Hemp Industry
STONY BROOK, N.Y., June 24, 2019 – Applied DNA Sciences, Inc. (“Applied DNA”, NASDAQ: APDN), announced today that its cannabis and hemp industry partner, TheraCann International Benchmark Corporation (“TheraCann”), a leading full service international cannabis consultancy and technology firm, has signed a letter of intent (LOI) with TruTrace Technologies (CSE: TTT) (OTC: BKKSF) (“TruTrace”), creator of the a fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry.
The CertainT physical molecular taggant, backed up by Applied DNA’s in-field and laboratory authentication products and services, can provide unique traceability information for the product itself not available elsewhere. The collaboration includes connecting TruTrace’s StrainSecure™ system and blockchain with TheraCann’s non-appendable Electronic Product Code Information Services (EPCIS) blockchain to provide forensic levels of traceability of cannabis and cannabis derivatives at any point in the supply chain to guarantee product quality.
“The ETCH biotrace system provides seed-to-sale traceability for cannabis and hemp and uses Applied DNA’s unique, safe and persistent molecular tag for the identification of any biomass, extraction, isolate, derivative or cannabis packaging. The molecular tag does not genetically modify the organism (non-GMO) and can be added into derivative products within the supply chain,” said Jason Warnock, Chief Executive Officer of TheraCann. “Collaborating with TruTrace connects the dots with an information platform linking the provenance of material, testing information and patient data that is so vital to the safety and efficacy of the global market.”
Applied DNA’s CertainT® “Tag-Test-Track” platform, enables companies and their supply chains to designate a unique molecular identity Tag that has meaning specific to the tagged material: for example, geographic facility location, brand, product line or even date of manufacture. This Tag can be blended into excipients, active ingredients and packaging inks and varnishes in the pharmaceutical, nutraceutical, and dietary supplements industry. The Tags are then Tested either in the field or in the lab, depending on application requirements.
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 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.
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 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, ability to maintain its NASDAQ listing 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 and our subsequent quarterly reports on Form 10-Q filed on February 7, 2019 and May 9, 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 to reflect the occurrence of unanticipated events, unless otherwise required by law.
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