Applied DNA and TheraCann International Conduct Successful Tagging and Testing Pilot of Legal Cannabis and Derivative-Products
STONY BROOK, N.Y.--(BUSINESS WIRE)-- Applied DNA Sciences, Inc. (NASDAQ: APDN, “Applied DNA,” “the Company”) announced today that in conjunction with TheraCann International Benchmark Corporation, it has had early success in the tagging and authentication of legal cannabis and its derivatives in a laboratory pilot. The pilot demonstrated that after a single application of Applied DNA’s molecular taggants to cannabis plants during their growth stage, the taggants are detectable in processed trimmed cannabis, extracted cannabis oils and derivative products later produced from the tagged cannabis plants.
“These early pilot results provide us confidence that our combined expertise will produce a seed-to-sale solution that will provide an unparalleled level of transparency for growers, processors and dispensaries,” said Richard Goodman, President of TheraCann’s Tracking Technology Division. “Our solution will enable all members of the cannabis supply chain to conduct their own testing and prove, with scientific certainty, that their products are originating from their facilities or other legal sources.”
“The ability for our molecular taggants to be detected throughout all points in the legal cannabis supply chain, and for the tagged product(s) to be forensically analyzed, is an important strategic advantage for our platform,” said Gordon Hope, Director of Cannabis Markets at Applied DNA. “We are encouraged by these initial pilot study results, as we expect that our taggants will serve as a unique forensic identifier that becomes part of a blockchain transaction throughout the legal cannabis supply chain.”
In January 2018, Applied DNA and TheraCann announced an initial two-year, $1 million contract for the integration of the Applied DNA’s SigNature® molecular tagging and testing technology into TheraCann’s blockchain-based, seed-to-sale Enterprise Resource Platform (ERP) for legal cannabis operations. Applied DNA will develop the technologies necessary to tag and authenticate legal cannabis throughout the supply chain and seamlessly integrate tagging and authentication data into TheraCann’s ERP and blockchain platform.
This new platform is expected to be the first system of its kind to include molecular track-and-trace built on a powerful blockchain backbone for the management and tracking of legal cannabis and derivative products within the industry. Whereas broader and expanded testing is still to be performed, this is a significant milestone toward the eventual commercialization of the combined cannabis system.
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. The Company 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 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 uncopyable, security and authentication solutions such as SigNature®T and fiberTyping®, targeted towards 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.
About TheraCann International Benchmark Corporation
Founded in 2004, TheraCann International Benchmark Corporation offers a one-stop, full-service solution for the International cannabis marketplace. TheraCann provides business, technology and industry experts who apply advanced technology and help clients design, build and run their cannabis businesses. With nearly 5 million square feet of cannabis operations under management and the successful launch of groundbreaking Enterprise Resource Planning (ERP) software, Aeroponic cultivation systems and patented genetic tracking and diversion prevention systems, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements.
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 short operating history, limited financial resources, limited market acceptance, shifting enforcement priorities of US federal laws relating to cannabis, 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 28, 2017, which is 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.
For Applied DNA Sciences, Inc.
Sanjay M. Hurry, 212-838-3777
Cheryl Schneider, 212-825-3210
Gordon Hope, 631-240-8850
web: www.adnas.com, twitter: @APDN
Source: Applied DNA Sciences, Inc.