LineaRx Anticipates Expansion in Diagnostics Market via Follow-on Order and New Linear DNA Amplicons for Additional Assay
May 21 2019 - 5:30AM
Business Wire
Shipments for Follow-on Order Under Existing
Supply Agreement Will Commence This Quarter
LineaRx, a wholly-owned subsidiary of Applied DNA Sciences, Inc.
(NASDAQ: APDN), announced that it is in process of designing new,
custom amplicons for an existing customer in the in vitro
diagnostics market. The diagnostic assay is expected to be
available and qualified in 2020, potentially resulting in
increasing revenue from an existing supply agreement.
The company currently receives annual orders for large-scale DNA
from this customer under a 5-year supply agreement executed in
2017. The second annual purchase under the supply agreement was
received earlier this year, and shipments will commence this
quarter and continue for the following 3 quarters. This purchase
order yields revenue in excess of $500,000.
We believe linear DNA is ideal for diagnostic applications in
that modifications to the target amplicon made through the PCR
process are faster, more efficient and less costly than traditional
chemical derivatization. The molecular diagnostics market is
projected to reach $11.54 billion by 2023 from $7.10 billion in
2017 at a CAGR of 8.4% (MarketsandMarkets.com; May 2018).
“The request for LineaRx to provide a new linear amplicon for a
future diagnostic assay is a testament to the merits of linear DNA
as well as our large-scale production capabilities,” said Brian
Viscount, Director of Product Management at LineaRx. “If the
amplicon is qualified by our customer, we expect recurring
shipments under our supply agreement to increase in calendar
2020.”
About LineaRx
LineaRx seeks to commercialize the biotherapeutic value of
Applied DNA’s deep expertise and experience in the design,
manufacture and chemical modification of DNA by large scale
polymerase chain reaction (“PCR”). Linear DNA is a form of DNA
distinct from the circular form of DNA most commonly produced in
plasmids and grown in bacteria. Plasmids are extrachromosomal DNA
found in bacteria and are associated with the genes for antibiotic
resistance which are often exchanged between bacteria and
consequentially, are seen by many to embody a serious threat to
global health. In addition, many nucleic acid-based therapies also
rely on viral vectors for efficient transfection and expression of
plasmid DNA. These viral vectors carry additional nontrivial risks
and are extremely time consuming and expensive to manufacture
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 , the uncertainties inherent
in research and development, future clinical data and analysis,
including whether any of Applied DNA’s product candidates will
advance further in the preclinical research or clinical trial
process, including receiving clearance from the U.S. Food and Drug
Administration or equivalent foreign regulatory agencies to conduct
clinical trials and whether and when, if at all, they will receive
final approval from the U.S. FDA or equivalent foreign regulatory
agencies, ability to maintain its NASDAQ listing 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190521005261/en/
investors: Sanjay M. Hurry, LHA Investor
Relations, 212-838-3777, shurry@lhai.comprogram:
Brian Viscount, 631-240-8877, brian.viscount@adnas.comweb:
www.adnas.com, www.linearxdna.comtwitter: @APDN,
@LineaRxDNA
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