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.
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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.
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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, 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.
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