Applied DNA Sciences, Inc. (APDN) - Get Applied DNA Sciences, Inc. Report (Applied DNA or the "Company"), a leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing and nucleic acid-based technologies, today announced signing a mutual collaboration agreement (the "Agreement") with Ganesha Ecosphere Ltd. (BSE: GANECOS) (Ganesha), the largest recycled polyester (rPET) fiber producer in India with over 300-plus customers, 250-plus suppliers, and 500-plus product variants. Under the terms of the Agreement, Ganesha will deploy the CertainT® platform, Applied DNA's traceability system, to tag an initial pilot production of recycled polyester (rPET) at Ganesha's facilities in India and conduct confirmatory samples testing at Applied DNA's laboratories in India and the U.S. The collaboration between the two companies will provide brands and textile manufacturers with a trusted solution to support their sustainability goals for rPET and confirm raw material authenticity at all stages of the textile value chain.
The Agreement enables Ganesha to introduce and apply CertainT-verified rPET to provide assurance for the raw material with textile and apparel customers. Ganesha will also employ Applied DNA's recently introduced SigNature® T-100 tracer system that enables rPET source material to be quantified in polyester blends by the CertainT platform. SigNature T-100 is a proprietary molecular-based tracer system used to identify, analyze, and verify rPET, polypropylene, acrylic, and potentially other man-made materials for claims of both identification and quantification of the raw material tagged and subsequently spun into yarn for various textile products.
"Traceability has now added more authenticity and credibility to the entire textile supply chain and is becoming an integral part of the recycling process. With Applied DNA and CertainT, our customers can now trust in the original tagged synthetic fiber and verify product-related sustainability claims," stated Mr. B.P. Sultania, Joint President of Ganesha Ecosphere Ltd.
Since entering the rPET business in 1994, Ganesha has pioneered the manufacturing of rPET fiber and rPET yarn from post-consumer PET bottle scrap under the leadership and vision of Chairman Shri Shyam Sunder Sharmma. The company is the largest producer of rPET fiber, spun yarn, and dyed filament with a cumulative capacity of 118,800 metric tons per annum in India. Ganesha's rPET products are components in the manufacture of textiles, such as T-shirts, body warmers, functional textiles such as non-woven air filter fabric, geo textiles, carpets, and car upholstery, and fillings for pillows, duvets, and toys.
"CertainT provides brands and manufacturers with a real strategic advantage that is truly sustainable, traceable and trusted. Our India and Asia-based support teams for recycled PET and other polymers facilitate CertainT's commercial scale-up and integration into customers' supply chain," stated Dr. James A. Hayward, president, and CEO of Applied DNA Sciences.
About Ganesha Ecosphere Ltd
Ganesha Ecosphere Ltd is the largest Pet Recycling company in India having 3 production facilities in north India. GESL produce a wide range of RPSF in white, black and dope dyed colours in solid and hollow conjugated suitable for Yarn spinning, nonwovens and fibre fill applications.
GESL has also introduced certain speciality high value added RPSF like Flame retardant fibre, Anti-Microbial and Bio-degradable fibre.
GESL stocks are listed at NSE and BSE, Mumbai India.
About Applied DNA SciencesApplied DNA is commercializing LinearDNA™, its proprietary, large-scale polymerase chain reaction ("PCR")-based manufacturing platform that allows for the large-scale production of specific DNA sequences.
The LinearDNA platform has utility in the nucleic acid-based in vitro diagnostics and preclinical nucleic acid-based drug development and manufacturing market. The platform is used to manufacture DNA for customers as components of in vitro diagnostic tests and for preclinical nucleic acid-based drug development in the fields of adoptive cell therapies (CAR T and TCR therapies), DNA vaccines (anti-viral and cancer), RNA therapies, clustered regularly interspaced short palindromic repeats (CRISPR) based therapies, and gene therapies.
The LinearDNA platform also has non-biologic applications, such as supply chain security, anti-counterfeiting and anti-theft technology. Key end-markets include textiles, pharmaceuticals and nutraceuticals, and cannabis, among others.
Leveraging its deep expertise in nucleic acid-based technologies, the Company has also established safeCircle™, a pooled COVID-19 testing program that is grounded in the Company's EUA-authorized Linea™ COVID-19 Assay Kit. safeCircle is designed to look for infection within defined populations or communities utilizing pooled testing methodologies that increase testing efficiencies. The Company has also developed and intends to seek EUA-authorization for its Linea TM SARS-CoV-2 Mutation Panel, an assay-based panel for the detection of certain SARS-CoV-2 genetic mutations.
The Company's common stock is listed on NASDAQ under the ticker symbol 'APDN,' and its publicly traded warrants are listed on the OTC exchange under the ticker symbol 'APPDW.'
Applied DNA is a member of the Russell Microcap® Index.
Forward-Looking StatementsThe statements made by Applied DNA in this press release may be "forward-looking" in nature within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform 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, including Applied DNA's ability to successfully enter into commercial contracts for the implementation of its CertainT® platform, the uncertainties inherent in research and development, 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 17, 2020, and Quarterly Reports on Form 10-Q filed on February 11, 2021, May 13, 2021, and August 12, 2021, 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 or to reflect the occurrence of unanticipated events, unless otherwise required by law.
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