RELEASE
March 25, 2015
For Immediate Release
Contact:
Media Relations
631-240-8800
Applied DNA Sciences
Applied DNA Sciences and Divatex Sign Agreement to Commercialize the World's First Supply Chain-DNA-Verified Cottons
SigNature® T DNA Authentication Solution from Grower to Retailer
STONY BROOK, NY, March 25, 2015 - Applied DNA Sciences, Inc. (NASDAQ: APDN) (Twitter: @APDN), a provider of DNA-based anti-counterfeiting technology, supply chain and product authentication solutions, has entered into a mutual license agreement with Divatex, a leading supplier of home textiles, to commercialize the world's first supply-chain-DNA-verified cotton product. Divatex is responsible for marketing, while APDN licenses its patented SigNature T DNA technology for application to ensure the veracity of the product. Divatex is a wholly-owned subsidiary of Himatsingka Group, India.
"We are excited to use this amazing new innovation to help us deliver a verified, undiluted and authentic proposition to the consumer. It has become increasingly important to our customers that they understand what it is that they are buying, and trust they are getting what they paid for," said David Greenstein, CEO of Divatex.
Using APDN's patented SigNature T DNA technology, US-grown cotton fibers were DNA-tagged at the ginner, enabling all nodes of the supply chain to verify purity along the way. Earlier this year bulk quantities of this year's pima harvest have undergone SigNature T DNA tagging in the San Joaquin Valley in California.
The first finished product made from this tagged fiber will be offered for sale across the US later this year under the PimaCott™ content-branded label.
In addition, APDN expects to license its "On-Site" DNA authentication technology to the suppliers within this retailer's supply chain. Traceability, and authenticity of the cotton supply will be verified as the cotton evolves into finished goods.
Dr. James A. Hayward, CEO of APDN, commented: "The arrangement with Divatex is strategic, retailer-driven, providing the incentive for all supply chain members to participate. Together, we will deliver an unmatched value proposition to retail and consumers in exchange for a new revenue stream from licensing of our core DNA marking technology and our On-Site DNA Authentication services. We will be meeting with many industry brands to demonstrate the platform during NYC market week in which commitments are made for the coming harvest."
