Applied DNA Signs Joint Development Agreement with Everledger to Develop and Market a CertainT®-Enhanced, Blockchain-Based Platform for Provenance Verification
Applied DNA Sciences Inc. (NASDAQ: APDN) (“Applied DNA,” “the Company”), a leader in large-scale PCR-based DNA manufacturing, announced today the signing of a Joint Development Agreement (the “Agreement”) with Everledger, Inc. (“Everledger”), an independent emerging technology enterprise. Under the Agreement the parties will develop and market a combined physical and digital supply chain traceability and certification solution utilizing the Company’s CertainT molecular tagging and authentication systems together with Everledger’s blockchain-based platform. The signing of the Agreement follows a Memorandum of Understanding (“MOU”) announced on July 31, 2018.
The parties believe this joint solution platform is at the forefront of linking immutable digital transactions with synthetic molecular authentication to tightly track movement and chain of custody of forensically-identified goods across complex ecosystems. Everledger’s blockchain-based platform is proven to offer transparency and asset protection across various industries including diamonds, colored gemstones and jewelry, and is scaled for industry standardization as evidenced by the encrypted provenance of over 2.2 million diamonds. Applied DNA’s CertainT platform has demonstrated its “tag and test” capability having captured millions of tagging data points and thousands of sample authentication reports.
“We are very proud to align our proven CertainT platform with Everledger’s, an industry-leading blockchain-based platform for digital provenance,” said Judy Murrah, Chief Information Officer of Applied DNA. “As consumers demand more proof of claims with their purchases, enterprises and supply networks are now responding to the challenge by investing in such traceability at both the product and transaction levels.”
Dr. James Hayward, President and CEO of Applied DNA, stated, “We have long held the opinion that blockchain technology, and its ability to provide immutable digital transactions toward product provenance, is a perfect fit for our CertainT platform. In collaboration with Everledger we are targeting leather, luxury goods and other high-value commodities as the initial markets for our joint platform.”
Leanne Kemp, Founder & CEO of Everledger, said, “As a pioneer in digital provenance across many industries critical to the global commons, we understand the importance of incorporating a forensic layer for the unique identification assets tracked on our platform. We are pleased to further provide added confidence in the provenance data captured and tracked on our platform through CertainT’s molecular authentication solution. This will greatly benefit all stakeholders by driving full supply chain transparency with a positive economic and social impact.”
Founded in 2015, Everledger is an independent global emerging technology enterprise. It is focused on creating and maintaining ecosystems of trust to address real-world challenges. Incorporating a rich forensic approach to identify and track assets, Everledger delivers the transparency and confidence needed to bring global stakeholders together. First established in tracking diamond provenance, Everledger has become a global leader in digital provenance. Today, its platform is trusted by many industries including diamonds, coloured gemstones, jewellery, fine wine and art. Its achievements have been recognised through the significant industry partnerships forged and globally-respected awards won.
For more information, visit everledger.io
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.
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.
The Company’s common stock is listed on NASDAQ under the symbol APDN, and its warrants are listed under the symbol APDNW.
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 our history of losses, limited financial resources, limited market acceptance 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 28, 2017 and our subsequent quarterly reports on Form 10-Q filed on February 8, 2018, May 3, 2018 and August 13, 2018, 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.
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