Applied DNA and Colorcon Announce Collaboration To Commercialize Product Authentication Technology for Pharmaceutical and Nutraceutical Industry
STONY BROOK, N.Y.--(BUSINESS WIRE)-- Applied DNA Sciences, Inc. (NASDAQ:APDN; “Applied DNA”, “the Company”), and Colorcon, Inc. (Colorcon) have entered into a technology license memorandum of understanding (“MOU”) that combines Applied DNA’s proprietary molecular taggant and authentication technology with Colorcon’s portfolio of film coating systems, inks and color dispersions for use in solid oral dosage forms in the pharmaceutical and nutraceutical industries. This collaboration will commercialize a platform for traceability directly on dose, and is intended to significantly reduce the risks associated with counterfeit and falsified medications entering the drug supply chain. The MOU is non-binding and is expected to be followed by a definitive agreement.
Colorcon has an international reputation as a pharmaceutical supplier of choice based on superior product quality and technical support, extensive regulatory assistance and reliable supply from eleven manufacturing facilities worldwide. Founded on a commitment to technology, research and development, Colorcon is always looking for opportunities to address industry challenges with leading edge products and services for the pharmaceutical market. Serialization of packaging begins to mitigate the risks associated with counterfeit drugs, but adoption of multiple technologies will further secure supply chain integrity. “By incorporating molecular taggants from Applied DNA into our specialty excipients, Colorcon is able to offer a simple and seamless solution to our pharmaceutical and nutraceutical customers to address counterfeiting and product diversion issues,” says Kelly Boyer, Film Coating GM at Colorcon.
“This MOU is the culmination of a multi-year effort to extend the applicability of our molecular taggant technology to an industry whose participants are moving quickly to address supply chain concerns and comply with federal serialization mandates across multiple continents, ” said Dr. James Hayward, president and CEO of Applied DNA. “In partnering with Colorcon, we are aligned with a truly innovative, high quality science and technology company in bringing our novel technology to the center of the pharmaceutical industry. The MOU complements our Tag, Test and Track transparency with a strong global sales and marketing team. The result will be end-to-end protection of a significant portion of the total addressable pharmaceutic market (TAM). This will be especially important in the US, which alone holds 45% of the global pharmaceuticals market."
“This MOU presents what we believe is a breakthrough opportunity to help pharmaceutical companies enhance patient safety and reduce risk by using intelligent data and analytics gathered from authentication of the dosage form themselves. By better understanding trade flows and vulnerabilities in a complex global supply chain, we are helping pharmaceutical leaders make better decisions on managing distribution patterns, frequent monitoring and deploying preventative measures for their products around the world,” said Bob Miglani, Chief of Business Development at Applied DNA.
Colorcon is a world leader in the development, supply and technical support of formulated film coating systems, modified release technologies, and functional excipients for the pharmaceutical industry. Our best-in-class products and technologies are complemented by our extensive application data and value-added services to support all phases of solid oral dose design and development. Our focus on market issues and technology development has earned Colorcon an international reputation as a pharmaceutical supplier of choice. That reputation is based on the superior product quality, unparalleled technical support, extensive regulatory assistance and reliable supply from multiple locations Colorcon has 11 manufacturing facilities including seven film coating plants, 21 technical service laboratories globally and more than 1200 employees exclusively dedicated to its customer base.
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 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 proprietary DNA-based “CertainT®” platform can be used to identify, tag, test, and track products, to help assure authenticity, origin, traceability, sustainability and quality of products.
SigNature® DNA describes the core technology ingredient that is at the heart of a family of uncopiable, security and authentication solutions such as SigNature® T and fiberTyping®, targeted toward textiles and apparel, BackTrac® and 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. Applied DNA Sciences is also engaged in the large-scale production of specific DNA sequences using the polymerase chain reaction.
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 APDN. Actual results could differ materially from those projected due to our history of losses, limited financial resources, limited market acceptance, market competition 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 6, 2016, and our subsequent quarterly reports on Form 10-Q filed on February 9, 2017, May 11, 2017, and August 10, 2017 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.
LHA Investor Relations
Sanjay M. Hurry, 212-838-3777
Cheryl Schneider, 212-825-3210
Applied DNA Sciences
Bob Miglani, 631-240-8800
Chief of Business Development
Source: Applied DNA Sciences, Inc.