UL and Applied DNA Announce Strategic Partnership
STONY BROOK, N.Y.--(BUSINESS WIRE)--Jul 11, 2018--UL, a leading global safety science organization, today announced that together with Applied DNA Sciences Inc. (NASDAQ:APDN) they have joined forces to form a strategic partnership that will lay the foundation for a significant new development in product authentication and supply chain traceability.
This partnership will enable UL to offer a series of Verification Marks for point-of-origin and product content, utilizing Applied DNA’s SigNature ® molecular tags. The DNA tag marks products in order to create a unique “fingerprint” that can be traced throughout a product’s journey in the supply chain. This technology combined with UL’s expertise and experience in testing, audit, and inspection service offerings equips manufacturers, governments, trade organizations, brands and end consumers with a tool to validate the very source and content of products, thus instilling an added level of confidence and empowering trust.
UL’s Verification Mark provides third-party verification, demonstrating to consumers that the supplier is taking steps to lead in the industry by having their products evaluated against UL’s highest standards for quality and integrity. Furthermore, the Verification Mark program from UL helps cut through messaging and promotional clutter by making independent, objective and scientifically-based assessments of product content and point-of-origin claims substantiated by the DNA tagging technology from Applied DNA Sciences.
“UL strives to help manufacturers, brands and retailers develop and bring safer products to market and empower consumer trust,” said Denis Koh, vice president and general manager for UL’s Consumer & Retail Services division. “The Verification Mark programs will help enable brands, retailers and manufacturers to trace and authenticate goods as they move along the supply chain and provide greater confidence that products enter the market as intended and from trusted sources”.
Dr. James Hayward, President and CEO of Applied DNA said, “The UL Mark Verification program is an ideal platform for our SigNature molecular tags to assure brands, and consumers alike, the provenance of origin and to substantiate key marketing claims.” Dr. Hayward noted that “The global footprint and existing relationships of the UL organization afford Applied DNA a unique opportunity to engage key customers and quickly scale in-field testing services to support supply chain quality and traceability requirements.”
UL solves the safety, security and sustainability challenges of the 21st century. Around the world, UL employees share a common passion for UL’s public mission to promote safe working and living environments for all people. UL tests, inspects, audits, certifies, verifies claims, advises and trains, as well as provides software solutions.
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, personalized medicine and therapeutics.
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. 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, targeting a wide range of industries, including but not limited to, pharmaceuticals and nutraceuticals, textiles and defense materials and DNAnet ®, for anti-theft and loss prevention, and digitalDNA ®, providing powerful track-and-trace. Our products provide a forensic chain of evidence in large commercial ecosystems.
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 lack of significant revenues, limited financial resources, limited market acceptance, history of net losses, market competition, risk of not obtaining regulatory approval 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 and our subsequent quarterly reports on Form 10-Q filed on February 8, 2018 and May 3, 2018, 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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LHA Investor Relations
Sanjay M. Hurry, 212-838-3777
Cheryl Schneider, 212-825-3210
For Applied DNA Sciences
Bob MacDowell, 631-240-8823
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY SECURITY OTHER SCIENCE SCIENCE
SOURCE: Applied DNA Sciences
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PUB: 07/11/2018 06:00 AM/DISC: 07/11/2018 06:01 AM