STONY BROOK N.Y.--(BUSINESS WIRE)--
Applied DNA Sciences, Inc. (“Applied DNA,” “the Company,” NASDAQ:APDN), has signed a multi-year license agreement with GHCL Limited, a global manufacturer of home textiles, to provide CertainT™ platform services in connection with source-verified, polyethylene terephthalate (PET) and recycled PET (post consumer) in select home textile products. PET is the clear plastic best known for its use in water bottles, and is the most widely recycled plastic in the world. GHCL will use Applied DNA’s CertainT platform in connection with PET and/or recycled PET blended bed sheets, pillowcases, and shams products sold in-store or online in the United States. GHCL has also licensed Applied DNA’s CertainT trademark for use on its products, as well as for promotional, marketing and sales materials. The agreement provides for guaranteed minimum annual revenues as well as trademark licensing royalties to Applied DNA.
GHCL will use Applied DNA’s CertainT platform, a fully integrated supply chain platform for verifying PET and recycled PET authenticity from source to retail shelf. With this platform, GHCL assures that any of its textile products using PET and recycled PET will contain the original source raw materials. Applied DNA will provide its patented and proprietary tagging, testing and tracking services to GHCL as a CertainT licensee.
“As the need for sustainable and recyclable textiles continues to increase in demand from our customers, we want to offer products that provide true traceability that go beyond a paper document. In these uncertain times, our customers deserve and expect certainty,” stated Neeraj Jalan, Business Head, Home Textiles, for GHCL. “The collaboration with Applied DNA provides a means to produce and supply our customers with source-verified, recycled products, as well as access to new authentication technologies in synthetic fibers that Applied DNA develops over the course of our relationship.”
As part of the platform, Applied DNA’s molecular tag is extruded into recycled components that create recycled PET fiber, with no impact to performance or quality of the fiber or filament yarns. Thereafter, any piece of CertainT-tagged textiles can be forensically authenticated by detecting the molecular tag in the recycled PET fiber, ensuring its authenticity and origin.
“We bring ‘CertainT’ in uncertain times especially as many brands and retailers need to fulfill their sustainability goals by the year 2020,” said Dr. James Hayward, president and CEO of Applied DNA. “The CertainT platform will help GHCL produce innovative products utilizing an efficient and trusted traceability system with a fair return. Differentiating their brand in the marketplace through use of our CertainT trademark will signify to consumers the products comply with our supply chain platform and are verifiably made from recycled fibers.”
GHCL is a well-diversified group with footprints in Chemicals, Textiles and Consumer Products segment. GHCL’s Textiles division is a vertically integrated manufacturing facility with spinning, wider-width weaving, continuous fabric processing, and cut & sew facilities for manufacturing premium quality bed linen. GHCL is one of India’s leading manufacturers of Home Textiles, with in-house spinning unit having capability to manufacture multiple varieties of 100% cotton and blended yarns at various facilities.
GHCL is known as perennial innovators in bed linen category with some of recent innovations in the category of ‘sheets’ which include the PERFECT FIT, EASYSHEET, microTWILL, CELLIANT, EXL Wrinkle Free Sheets, VERSATILE–Reversible Sheets, Soft Wash Percale and Sustainable Fibre dyed sheets.
GHCL’s Home Textiles products are predominantly exported worldwide to countries like United Kingdom, United States of America, Australia, Canada, Germany and other European Union countries as well.
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 and therapeutics.
We make 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. The proprietary DNA-based “CertainT™” platform can be used to identify, tag, test, and track products, to help assure authenticity, origin, traceability, sustainability and quality of products. SigNature® DNA describes the core technology ingredient that is at the heart of a family of uncopyable, security and authentication solutions such as SigNature® T and fiberTyping®, targeted toward textiles and apparel, BackTrac™ and DNAnet®, for anti-theft and loss prevention, and digitalDNA®, providing powerful track-and-trace. All provide a forensic chain of evidence, and can be used to prosecute perpetrators. Applied DNA Sciences is also engaged in the large-scale production of specific DNA sequences using the polymerase chain reaction.
Common stock listed on NASDAQ under the symbol APDN, and warrants are listed under the symbol APDNW.
The statements made by APDN 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 APDN’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 APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN’s SEC reports and filings, including our Annual Report on Form 10-K filed on December 6, 2016, and our subsequent quarterly reports on Form 10-Q filed on February 9, 2017, and May 11, 2017 which are available at www.sec.gov. APDN 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.
Copyright Business Wire 2017