STONY BROOK, N.Y.–(BUSINESS WIRE)–Applied DNA Sciences, Inc. (NASDAQ: APDN) (Applied DNA or the “Company”), a pacesetter in Polymerase Chain Reaction (PCR)-based DNA manufacturing and nucleic acid-based applied sciences, at the moment introduced that it has entered into a Master Services Agreement (the “MSA”) with Flora Growth (NASDAQ: FLGC) (Flora) to deploy the Company’s CertainT® platform as half of Flora’s global cannabis product validation and authentication platform for shoppers, distributors, and authorities regulators. Concurrently, the Company acquired a Statement of Work (SOW) underneath the MSA from Flora to implement its CertainT platform and provide associated gear and companies for three areas (1 in Florida; 2 within the Republic of Colombia), the place the Company’s molecular tags might be utilized to portions of Flora’s hashish flower and derivatives, in addition to choose merchandise of their portfolio. Financial phrases of the SOW weren’t disclosed.
The MSA is the consequence of the Company’s strategic alliance, referral, and know-how integration agreement with TruTrace Technologies, Inc. (CSE: TTT; OTCQB: TTTSF) (TruTrace) underneath which TruTrace’s blockchain-based StrainSecure™ platform was built-in with CertainT to ship a whole, end-to-end provide chain safety answer to hashish firms. Flora will make use of the built-in CertainT-StrainSecure answer to help its product validation and authentication platform to be utilized to ship on Flora’s beforehand introduced industrial agreements to export hashish merchandise internationally to open markets like Australia.
Flora, a producer and wholesaler of hashish and hashish by-product merchandise and operator of one of the most important outside hashish cultivation services, is differentiated by its use of pure substances and value-chain sustainability. Flora’s hashish by-product merchandise are utilized in premium cosmetics, hemp textiles, and meals and beverage functions.
“Business imperatives centered on branding and supply chain mastery will be the defining characteristics of cannabis companies positioning to compete globally. To that end, CertainT’s value proposition delivers brand and product differentiation, IP protection, and supply chain security from inception to consumption that, we believe, will further catalyze interest and adoption of our platform,” acknowledged Dr. James A. Hayward, president and CEO of Applied DNA. “CertainT offers customers like Flora unmatched levels of transparency, traceability, and trust across their supply chains that are further improved through our integration with TruTrace. We are very pleased to undertake our first international commercial cannabis venture alongside Flora and, given its growing and diverse portfolio of cannabis and cannabis derivative products, we believe we are in the early stages of a mutually beneficial commercial relationship with Flora.”
Robert Galarza, CEO of TruTrace, acknowledged, “The first fruits of our partnership with Applied DNA have been realized and at a time when the cannabis industry’s globalization has accelerated the need for solutions to verify supply chains in defense of a brand’s intellectual property and brand equity. Companies like Flora, who recognize and address this need, will hold a competitive advantage in the market and offer compelling value to end-customers. The integration of our platform with CertainT is designed specifically to meet that need.”
About the CertainT® Platform
The CertainT platform has three know-how pillars (Tag, Test, Track), which permits uncooked supplies and merchandise to be tagged with a novel molecular identifier. This identifier can then be examined for its presence because it travels all through a worldwide provide chain. All the info factors related to tagging and testing are tracked by importing to a safe cloud database. The CertainT platform can be utilized throughout industries corresponding to textiles, hashish, navy, leather-based, fertilizer, prescribed drugs, private care.
About Flora Growth Corp.
Flora is a hashish firm that leverages pure, cost-effective cultivation practices to produce hashish derivatives to its numerous enterprise divisions of cosmetics, hemp textiles, and meals and beverage. As the operator of one of the most important outside cultivation services, Flora strives to market a higher-quality premium product at under market costs. By prioritizing pure substances and value-chain sustainability throughout its portfolio, Flora creates premium merchandise that assist shoppers restore and thrive. Visit http://www.floragrowth.ca/ or comply with @floragrowthcorp on social for extra data.
About TruTrace Technologies
TruTrace Technologies is the developer of fully-integrated software program, secured on a blockchain infrastructure, that provides shoppers’ the flexibility to retailer, handle, share and instantly entry high quality assurance and testing particulars, COAs, in addition to movement and motion intelligence on stock. The platform was particularly designed to energy the traceability of testing requirements throughout the authorized hashish, nutraceutical, meals and pharmaceutical area with a concentrate on the authentication of supply supplies or substances utilized in formulation. For extra data, please go to https://www.trutrace.co/.
About Applied DNA Sciences
Applied DNA is commercializing LinearDNA™, its proprietary, large-scale polymerase chain response (“PCR”)-based manufacturing platform that permits for the large-scale manufacturing of particular DNA sequences.
The LinearDNA platform has utility within the nucleic acid-based in vitro diagnostics and preclinical nucleic acid-based drug growth and manufacturing market. The platform is used to fabricate DNA for prospects as elements of in vitro diagnostic assessments and for preclinical nucleic acid-based drug growth within the fields of adoptive cell therapies (CAR T and TCR therapies), DNA vaccines (anti-viral and most cancers), RNA therapies, clustered often interspaced quick palindromic repeats (CRISPR) primarily based therapies, and gene therapies.
The LinearDNA platform additionally has non-biologic functions, corresponding to provide chain safety, anti-counterfeiting and anti-theft know-how. Key end-markets embrace textiles, prescribed drugs and nutraceuticals, and hashish, amongst others.
Leveraging its deep experience in nucleic acid-based applied sciences, the Company has additionally established safeCircle™, a pooled COVID-19 testing program that’s grounded within the Company’s EUA-authorized Linea™ COVID-19 Assay Kit. safeCircle is designed to look for an infection inside outlined populations or communities using pooled testing methodologies that improve testing efficiencies. The Company has additionally developed and plans to hunt EUA-authorization for its LineaTM SARS-CoV-2 Mutation Panel, an assay-based panel for the detection of sure SARS-CoV-2 genetic mutations.
The Company’s widespread inventory is listed on NASDAQ underneath ticker image ‘APDN,’ and its publicly traded warrants are listed on OTC underneath ticker image ‘APPDW.’
Applied DNA is a member of the Russell Microcap® Index.
The statements made by Applied DNA on this press launch could also be “forward-looking” in nature throughout the that means of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe Applied DNA’s future plans, projections, methods, and expectations, and are primarily based on assumptions and contain a quantity of dangers and uncertainties, many of that are past the management of Applied DNA. Actual outcomes might differ materially from these projected attributable to its historical past of web losses, restricted monetary sources, restricted market acceptance, together with Applied DNA’s potential to efficiently enter into industrial contracts for the implementation of its CertainT® platform, shifting enforcement priorities of US federal legal guidelines and different worldwide legal guidelines referring to hashish and hashish by-product merchandise, and numerous different components detailed on occasion in Applied DNA’s SEC studies and filings, together with our Annual Report on Form 10-Okay filed on December 17, 2020, and Quarterly Reports on Form 10-Q filed on February 11, 2021, May 13, 2021, and August 12 2021, and different studies we file with the SEC, which can be found at www.sec.gov. Applied DNA undertakes no obligation to replace publicly any forward-looking statements to replicate new data, occasions or circumstances after the date hereof or to replicate the incidence of unanticipated occasions, except in any other case required by legislation.