Applied DNA Signs Memorandum of Understanding with Sun Chemical Supply Company to Bring CertainT® Authentication Platform to Textile Manufacturers in Asia
Applied DNA Sciences, Inc. (NASDAQ:APDN) (“Applied DNA,” “the Company”), a leader in PCR-based DNA manufacturing for product authenticity and traceability solutions, announced today the signing of a non-binding Memorandum of Understanding (“MOU”) with the Sun Chemical Supply Company of Taiwan (“Sun Chemical Supply”). Under the terms of the MOU, Sun Chemical Supply will serve as a distributor of the CertainT platform in the heart of Asia’s textiles industry. Established for over 60 years as a chemicals, synthetic materials and equipment distributor in China, Taiwan and Vietnam, Sun Chemical Supply will provide deep industry knowledge, infrastructure and client base to expand Applied DNA’s reach to service its currently commercialized business and further build its pipeline. The MOU is expected to be followed by a definitive agreement.
The multi-dimensional, non-exclusive strategic alliance outlined in the MOU will also enable Sun Chemical Supply to provide value-added services, such as marketing, product stocking and customization, in-field testing, deployment and training. The ability to provide these services locally is imperative to Applied DNA’s commercial and prospective customer base currently manufacturing CertainT authenticated home textiles in China. At the same time, Sun Chemical Supply’s Asia customer base represents additional textiles verticals whose profiles make them strong candidates for adopting the CertainT authentication platform to differentiate and protect brands and supply chains with manufacturing locations in Asia.
Sun Chemical Supply offers 9 locations and 59 staff in Asia with highly-trained professionals in chemical analysis, innovative solutions, end-to-end manufacturing processes and equipment. Its product portfolio is complementary to Applied DNA’s, drawing synergy in customer solution sets for selling, marketing, and installing. For example, Sun Chemical Supply distributes finishing treatments, chemicals and oils used in textile manufacture that may act as efficient carriers for Applied DNA’s SigNature® T molecular tags. Sun Chemical Supply distributes textiles manufacturing equipment which could be adapted for use in delivering SigNature T tags.
Dr. James Hayward, President and CEO of Applied DNA, said, “We are pleased to take these first steps toward a formal relationship with Sun Chemical Supply to facilitate our reach to Asian manufacturers that are central to many textile supply chains. Sun Chemical Supply is a leader in its field and we believe our collaboration will drive additional adoption of our physical traceability solutions in the global textiles markets.”
David Lai, Chairman and CEO of the Sun Chemical Supply Company, said, “Asian countries play a key role in global textile supply chains, and we are excited to deploy Applied DNA’s CertainT platform to protect our industries and consumers with reliable authentication and traceability solutions."
Wayne Buchen, Vice President of Strategic Sales for Textiles at Applied DNA Sciences, added, “Partnering with Sun Chemical Supply enables us to drive adoption of our CertainT platform throughout the global textile supply chain, beginning at its origin in Asia. We believe that a CertainT-certified supply chain elevates customers’ brands and products by establishing the transparency and truth that consumers desire. We look forward to a long and mutually beneficial relationship with Sun Chemical Supply.”
About Sun Chemical Company
The Sun Chemical Group was established in 1957, when the textile industry, initiated in Taiwan, was small scale, poorly equipped and lacking technical experience. Sun Chemical focused on strengthening the textile industry and obtained information and technology for clients from Japan. In the 70s, the chemical fiber industry developed in Taiwan and Sun Chemical introduced advanced equipment and spin finishes from Japan, as well as after-sales service. The company gained a strong reputation domestically as well as from businesses in foreign countries. Goulston Technologies, Inc. chose to partner with Sun Chemical and the company formed an affiliate, Sincere Chemical, as a sales agent for Chang Chun Group of PVA, now in its 35th year, and for Dairen Chemical Corporation for EVA. With strong support from customers, Sun Chemical expanded its fields from textile, paper, glue stick connection and plastics to the electronics industry. The company established a branch office in Shenzhen in 2004, in Hangzhou in 2010, and in Vietnam in 2018 and also has offices in Beijing, Tianjin, Zhengzhou and Wuhan. Today, Sun Chemical remains determined to improve operational efficiency, reduce cost and maintain a competitive advantage, while providing excellent service to suppliers and clients.
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, personalized medicine 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.
Common stock listed on NASDAQ under the symbol APDN, and 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 its history of net 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 18, 2018 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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