Tex-Ray’s Established Supply Chains, Geographic
Reach and Technology Innovation to Position CertainT® to Offer
Brand Protection and Traceability for Performance Fabrics, Smart
Clothing and Sustainable Materials in Apparel, Footwear and Textile
Components
Applied DNA Sciences Inc. (NASDAQ: APDN) (“Applied DNA,”
the “Company”), a leader in PCR-based DNA manufacturing for product
authenticity and traceability solutions, today announced the
signing of a non-binding Memorandum of Understanding (“MOU”) with
Taiwan-based Tex-Ray Industrial Co., Ltd (“Tex-Ray”), a pioneer in
performance fabric and smart clothing for modern active lifestyles.
The MOU is expected to be followed by a definitive agreement.
Under the terms of the MOU, Tex-Ray and Applied DNA will create
a Center of Excellence in Taiwan, the industry-acknowledged hub for
textiles innovation to: integrate Applied DNA’s CertainT tag, test
and track authentication platform into new product development of
yarns, finishes and fabrics; for designing streamlined supply chain
processes to reduce time-to-market for Applied DNA products and
services; and, to grow capabilities in marketing, sales and support
for servicing global customers. Applied DNA’s CertainT molecular
authentication platform for forensic authenticity and traceability
delivers brand differentiation and protection of goods whose value
chains span large commercial ecosystems and geographies. Unique in
its ability to provide identity and traceability embedded in goods
themselves, CertainT is a natural fit with the technology
innovations that comprise Tex-Ray’s product portfolio.
Tex-Ray’s growth has mirrored the development of Taiwan’s
textiles industry that today is the world’s largest functional
fabric production base accounting for approximately 50% of the
global output value of performance fabrics.1 Founded in 1978,
Tex-Ray has found success in managing global textile supply chains
and today counts a significant numbers of the world’s leading
brands as customers, and operates in 9 countries within the
continents of Asia, Africa, and North America. Its global footprint
offers the advantage of deep domain knowledge and staffing to
implement CertainT from design through development to delivery
across its customer base.
Dr. James A. Hayward, president and CEO of Applied DNA, stated,
“As a technology innovator and manufacturer of performance fabrics,
Tex-Ray gives us entrée into established supply chains in service
of large global brands. We believe Tex-Ray’s customers -
manufacturers, retailers and brands - will benefit from our
CertainT platform as a means of supporting claims in performance,
sustainability and product origin. Our Tex-Ray alliance, together
with our other recently announced textile strategic alliances,
demonstrates continued execution on our strategy to engage key
participants along multiple points in the global textile value
chain to more broadly drive adoption of our authentication
technology platform.”
Mr. Ray Lin, Chairman of Tex-Ray, said “Our company’s mission is
to be at the forefront of the smartest clothing and highest
performance fabrics. Partnering with Applied DNA furthers our
mission, enabling us to use the most reliable authentication
solutions with the broadest applications.”
Wayne Buchen, vice president of Strategic Sales at Textiles at
Applied DNA Sciences, said, “The Tex-Ray strategic alliance opens a
significant opportunity for Applied DNA authentication technologies
to enhance some of the most advanced fabrics and clothing on the
market. We are deeply impressed by Tex-Ray’s commitment to best
practices and best textiles and look forward to a collaboration
that we believe will further transform traceability, transparency
and trust in the textile industry.”
Footnote:
1
https://www.textiletoday.com.bd/taiwan-showcases-strength-functional-fabric-manufacturing/
About Tex-Ray Industrial Co.
Tex-Ray Industrial Co Ltd is a Taiwan-based vertically
integrated innovative textiles & apparel manufacturing group
having 18 Mills, Garment manufactories & services offices in
Nine different countries, established in 1978 and publically listed
in Taiwan since 1998. Our production bases in the Mexico, Vietnam,
Cambodia, Africa, Middle East and China are especially competent in
the manufacturing of performance textiles as well as active-wear,
athleisure & lifestyle knitwear, with an emphasis on
sustainability.
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.
Visit adnas.com for more information. Follow us
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list.
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/20190128005196/en/
investor contact: Sanjay M. Hurry, 212-838-3777,
shurry@lhai.commedia contact: Meryl Rader,
781-639-4924, meryl@cgprpublicrelations.comprogram
contacts: MeiLin Wan, 631-240-8849,
meilin.wan@adnas.comweb: www.adnas.comTwitter:
@apdn
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