Applied DNA Sciences Signs Cooperative Research and Development Agreement With the United States Department of Agriculture for Enhanced Cotton Genotyping
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
Technology Will Enable the Identification of Global Cotton Cultivars to Further Secure Supply Chains
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
STONY BROOK, NY -- (Marketwired) -- 01/12/16 -- Applied DNA Sciences, Inc. (NASDAQ: APDN) (Twitter: @APDN), a provider of DNA-based supply chain, anti-counterfeiting and anti-theft technology, product genotyping and product authentication solutions, has signed a Cooperative Research and Development Agreement (CRADA) with the United States Department of Agriculture (USDA).
The CRADA will enhance APDN's proprietary identification methods of cotton species and cultivars (subspecies), collectively, trademarked as fiberTyping®. This enhanced fiberTyping will genetically verify multiple types of individual cotton cultivars, and assist the cotton industry in protecting quality, traceability and economic investments. For example, enhanced fiberTyping will be able to differentiate cotton based on country of origin and could ensure that cotton from countries known to use child labor would not be incorporated into tested products. APDN has been granted an option to negotiate an exclusive license for any Inventions made by USDA or jointly made by APDN and USDA.
"Our collaboration with the USDA will accelerate our ability to identify key cultivars for specific cotton growing regions based on our patented technology. We believe the synergy of our expertise, together with the expertise of the cotton genomics experts at USDA, will result in a library of key cotton genome targets for commercial use," said Dr. Mike Hogan, VP of Life Sciences at Applied DNA Sciences. "Consequently, we will be able to identify the fibers that are most desirable, and exclude fibers that are harvested from regions known to use forced or underage labor."
Already proven in commercial use, APDN's current fiberTyping methods are used to analyze cotton products, and confirm with precision the presence of Gossypium barbadense DNA (or Pima Extra Long Staple) and/or Gossypium hirsutum DNA (or Upland). Applied DNA Sciences is the exclusive owner of the US patents No.8,669,079, and No.8,940,485 related to fiberTyping and genotyping based methodologies for cotton.
APDN utilizes its expertise in molecular sciences for the development and manufacture of source-verification testing and security taggants for commercial and governmental implementations. Over the last 12 months, APDN has provided DNA for forensic-grade tagging, authentication and tracking for 100 million pounds of cotton now flowing through the supply chain onto store shelves.
The USDA, through its Agricultural Research Service, Genetics and Sustainable Agriculture Research Unit works to expand knowledge of the genetics and molecular biology of cotton. Using this CRADA, APDN intends to verify desirable claims for cotton such as whether it is sustainably or organically grown, free of the impact of human trafficking or child labor and source-verified.
Dr. James Hayward, CEO of Applied DNA Sciences stated: "APDN's commodity genotyping services will enable its customers to fight fraudulent claims in natural fibers, woods, dietary supplements and foods (such as olives, coffee, fish and other foods). We will make the world more 'real and safe.'"
About Applied DNA Sciences
Applied DNA Sciences makes life real and safe by providing biotechnology-driven solutions to help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. Patented botanical DNA solutions can be used to identify, tag, track, and trace products, to help assure authenticity, traceability and quality of products. SigNature DNA is at the heart of a family of uncopyable, security and authentication solutions such as SigNature® T and fiberTyping®, for textiles and apparel, DNAnet®, for anti-theft and loss prevention, and digitalDNA®, providing powerful track and trace. All provide a forensic chain of evidence, and can be used to prosecute perpetrators.
Go to adnas.com for more information, events and to learn more about how Applied DNA Sciences makes life real and safe. Common stock listed on NASDAQ under the symbol APDN, and warrants are listed under the symbol APDNW.
The statements made by APDN 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 APDN'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 APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-K filed on December 14, 2015, which is 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.
investor contact:Debbie Bailey631-240-8817Email contactmedia contact:Susan FormanDian Griesel Int'l.212-825-3210Email contactprogram contact:MeiLin Wan631-240-8849Email contactweb: www.adnas.comtwitter: @APDN
Source: Applied DNA Sciences
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Virgin Galactic (SPCE) Plunges 4% as Founder Richard Branson Sells Over $150 Million in Stock
- Latham Group Inc. (SWIM) Announces 20M Share IPO Between $19-$21/Sh
- MER Telemanagement Solutions (MTSL) Signs Definitive Merger Agreement with SharpLink
Create E-mail Alert Related CategoriesPress Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!