Alliance will Utilize Technology from Applied
DNA Sciences in ETCH biotrace™ to Secure Supply Chains
Applied DNA Sciences, Inc. (NASDAQ: APDN), announced today that
partner TheraCann International Benchmark Corporation
(“TheraCann”), a leading full service international cannabis
consultancy and technology firm, in conjunction CannAcubed Pte Ltd
(CannAcubed), a pioneer in the China cannabis space with a focus on
building the world’s largest diversified cannabis operations, has
formed an agreement focused on the implementation of TheraCann’s
molecular-tagging ETCH biotrace™ technology for the industrial hemp
and cannabinoid markets in China.
TheraCann’s ETCH biotrace™ platform uses both a physical
molecular tag (exclusively supplied by Applied DNA Sciences) and a
non-appendable distributed ledger (blockchain) to provide forensic
levels of traceability of cannabis and cannabis derivatives at any
point in the supply chain. Whether introduced at the farmer,
processor, manufacturer, or at packaging, ETCH biotrace links a
unique molecular tag to the cannabis plant that will survive
extraction or conversion into new products within the supply
chain.
“The base technology behind ETCH biotrace has enjoyed a long and
proven track record in the cotton industry and other global supply
chains,” said Dr. James Hayward, President and CEO of Applied DNA
Sciences and partner to TheraCann on the technology; “The molecular
tags used in the ETCH biotrace system are considered GRAS
(Generally Recognized as Safe). The ETCH molecular tags are very
small; too small to function as genes and are non-GMO. Tags are
typically applied at a ratio of parts per billion, levels too low
to have any impact on form or function, or the biological
properties of cannabis or hemp. The opportunity to supply molecular
tags to TheraCann on a large commercial scale to support the
CannAcubed project leverages our core competency in large-scale
taggant supply and authentication.”
The rapid global adoption of cannabis legislation has
accelerated the need to secure and truly validate cannabis supply.
Current systems, many of which rely on RFID or bar code
technologies, are capable of accurately tracking cannabis supply
chains through the cultivation stage but cannot forensically track
cannabis and/or hemp derivative products back to a specific source
once the physical tags and packaging are removed or the product is
mixed with other suppliers.
“CannAcubed’s focus will be from tracking inception of an
individual plant or crop, through harvest, processing, and
distribution, all the way to the point of sale to the patient, said
Glen Davis, Chief Executive Officer at CannAcubed. “This
collaboration with TheraCann and ETCH biotrace provides visibility
into the cannabis ‘chain of custody ‘, tracking cannabis supply
chains with the ultimate aim to create a successful, sustainable
and professional cannabis industry that is legitimately, safely and
responsibly bringing cannabis to China, and the world.”
“TheraCann is excited to fully introduce this breakthrough
technology to the Chinese market. Global regulatory bodies, large
industrial hemp producers and cannabis brands have been somewhat
limited by their reliance on traditional “seed-to-sale” systems,”
said Jason Warnock, Chief Executive Officer of TheraCann
International Benchmark Corporation. “The size and scale of these
industrial markets require new and more complete solutions to
facilitate global commerce in the sector.”
The CannAcubed project has been granted large-scale areas of
land to cultivate, process, manufacture and export cannabis in all
its forms. Once complete, it will position CannAcubed as one of the
world’s largest supplier and validator of high-grade pure CBD Oil,
and Pharmaceutical grade Isolate. Within China, CannAcubed will
continue to work closely with Government & Private sector
around the Textiles, Clean Energy, and Bio-New Materials
sector.
Leading up to the collaboration with TheraCann, CannAcubed has
been working with some of China’s largest organizations to build
the world’s first ever environmental Industrial Hemp Eco-Park in
the Yunnan province.
More information about ETCH biotrace is available at
www.etchbio.solutions
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. Integrating nearly
3.5 million square feet of cannabis operations 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.
More information about TheraCann is available at
www.theracanncorp.com. Follow us on Twitter or Linkedin
About CannAcubed Pte Ltd (Singapore)
CannAcubed is a diversified global cannabis company focused on 4
major areas - Licensing, Cultivation, Processing & Research.
Our world-class scientific team uses patented Stem-Cell technology
to research the benefits of medical cannabis for people facing
everything from Alzheimer’s disease, Diabetes, Glaucoma, chronic
pain to Cancer.
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
pre-clinical nucleic acid-based therapeutic drug
candidates.
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
on Twitter and LinkedIn. Join our mailing 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, shifting enforcement
priorities of US federal laws relating to cannabis, 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 our subsequent quarterly report on Form
10-Q filed on May 9, 2019, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190515005251/en/
investors: Sanjay M. Hurry, LHA Investor
Relations, 212-838-3777,
shurry@lhai.comprogram: Celia Villareal,
Celia Villarreal Osorio, Director Marketing, +1
(844) 877-2649 ext. 3044, cvillarreal@theracanncorp.comJohn
Shearman, 631-240-8838, john.shearman@adnas.comweb:
www.adnas.com,
www.theracann.solutionstwitter: @APDN, @theracanncorp
Applied DNA Sciences (NASDAQ:APDN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Applied DNA Sciences (NASDAQ:APDN)
Historical Stock Chart
From Apr 2023 to Apr 2024