Strategic Alliance to Broaden Applied DNA’s
Presence in Asia; To Enable Companies’ Clients' and Prospects’
Adoption of CertainT Across Textiles, Footwear, Accessories and
Component Value Chains
Applied DNA Sciences, Inc. (NASDAQ:APDN) (“Applied DNA,”
“the Company”), a leader in PCR-based DNA manufacturing for product
authenticity and traceability solutions, announced today the
signing of a non-binding Memorandum of Understanding (“MOU”) with
the Sun Chemical Supply Company of Taiwan (“Sun Chemical Supply”).
Under the terms of the MOU, Sun Chemical Supply will serve as a
distributor of the CertainT platform in the heart of Asia’s
textiles industry. Established for over 60 years as a chemicals,
synthetic materials and equipment distributor in China, Taiwan and
Vietnam, Sun Chemical Supply will provide deep industry knowledge,
infrastructure and client base to expand Applied DNA’s reach to
service its currently commercialized business and further build its
pipeline. The MOU is expected to be followed by a definitive
agreement.
The multi-dimensional, non-exclusive strategic alliance outlined
in the MOU will also enable Sun Chemical Supply to provide
value-added services, such as marketing, product stocking and
customization, in-field testing, deployment and training. The
ability to provide these services locally is imperative to Applied
DNA’s commercial and prospective customer base currently
manufacturing CertainT authenticated home textiles in China. At the
same time, Sun Chemical Supply’s Asia customer base represents
additional textiles verticals whose profiles make them strong
candidates for adopting the CertainT authentication platform to
differentiate and protect brands and supply chains with
manufacturing locations in Asia.
Sun Chemical Supply offers 9 locations and 59 staff in Asia with
highly-trained professionals in chemical analysis, innovative
solutions, end-to-end manufacturing processes and equipment. Its
product portfolio is complementary to Applied DNA’s, drawing
synergy in customer solution sets for selling, marketing, and
installing. For example, Sun Chemical Supply distributes finishing
treatments, chemicals and oils used in textile manufacture that may
act as efficient carriers for Applied DNA’s SigNature® T molecular
tags. Sun Chemical Supply distributes textiles manufacturing
equipment which could be adapted for use in delivering SigNature T
tags.
Dr. James Hayward, President and CEO of Applied DNA, said, “We
are pleased to take these first steps toward a formal relationship
with Sun Chemical Supply to facilitate our reach to Asian
manufacturers that are central to many textile supply chains. Sun
Chemical Supply is a leader in its field and we believe our
collaboration will drive additional adoption of our physical
traceability solutions in the global textiles markets.”
David Lai, Chairman and CEO of the Sun Chemical Supply Company,
said, “Asian countries play a key role in global textile supply
chains, and we are excited to deploy Applied DNA’s CertainT
platform to protect our industries and consumers with reliable
authentication and traceability solutions."
Wayne Buchen, Vice President of Strategic Sales for Textiles at
Applied DNA Sciences, added, “Partnering with Sun Chemical Supply
enables us to drive adoption of our CertainT platform throughout
the global textile supply chain, beginning at its origin in Asia.
We believe that a CertainT-certified supply chain elevates
customers’ brands and products by establishing the transparency and
truth that consumers desire. We look forward to a long and mutually
beneficial relationship with Sun Chemical Supply.”
About Sun Chemical Company
The Sun Chemical Group was established in 1957, when the textile
industry, initiated in Taiwan, was small scale, poorly equipped and
lacking technical experience. Sun Chemical focused on strengthening
the textile industry and obtained information and technology
for clients from Japan. In the 70s, the chemical fiber industry
developed in Taiwan and Sun Chemical introduced advanced equipment
and spin finishes from Japan, as well as after-sales service. The
company gained a strong reputation domestically as well as from
businesses in foreign countries. Goulston Technologies, Inc. chose
to partner with Sun Chemical and the company formed
an affiliate, Sincere Chemical, as a sales agent for Chang
Chun Group of PVA, now in its 35th year, and for Dairen Chemical
Corporation for EVA. With strong support from customers, Sun
Chemical expanded its fields from textile, paper, glue stick
connection and plastics to the electronics industry. The
company established a branch office in Shenzhen in 2004, in
Hangzhou in 2010, and in Vietnam in 2018 and also has offices in
Beijing, Tianjin, Zhengzhou and Wuhan. Today, Sun Chemical
remains determined to improve operational efficiency, reduce cost
and maintain a competitive advantage, while providing excellent
service to suppliers and clients.
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.
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Common stock listed on NASDAQ under the symbol APDN, and
warrants are listed under the symbol APDNW.
Forward-Looking Statements
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 its history of net losses, limited financial
resources, limited market acceptance 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
18, 2018 and other reports we file with the SEC, 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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version on businesswire.com: https://www.businesswire.com/news/home/20190124005229/en/
Investors:Sanjay Hurry,
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Media:Meryl Rader,
781-639-4924meryl@cgprpublicrelations.com
Program Contacts:MeiLin Wan,
631-240-8849meilin.wan@adnas.com
Web: www.adnas.comTwitter: @apdn
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