STONY BROOK, N.Y.--(BUSINESS WIRE)--Applied DNA Sciences, Inc., (NASDAQ: APDN) ("Applied DNA" or the "Company,") and Everledger, Inc. ("Everledger"), an independent emerging technology enterprise, have signed a Memorandum of Understanding ("MOU") to execute a co-marketing and development plan for the two companies' platforms with an objective of providing integrated physical and digital security for supply chain traceability and certification for high-end brands and products.
Under the MOU, Applied DNA and Everledger will collaboratively integrate their respective technology platforms and pursue various market opportunities, including leather. The two companies have identified several prospects for the combined platform and are actively developing the system for the demonstration of tagging and in-field authentication data posting to the digital transactions, thereby reinforcing molecular certification with immutable transactions.Everledger's leadership in tracking provenance on its blockchain-based platform has been proven to offer transparency and asset protection across various industries including diamonds, colored gemstones and jewelry. The company's emerging technology solution is scaled for industry standardization as evidenced by the provenance of over 2.2 million diamonds encrypted on its platform. The company was recently named as a World Economic Forum 2018 Technology Pioneer.
The proposed combination of the Everledger blockchain-enabled platform with Applied DNA's CertainT® platform is designed to broaden the capability to track the movement and chain of custody of goods across complex ecosystems, while strengthening the protection of physical goods with forensic identity and traceability embedded in items themselves. The design expands on the proven functionality of the CertainT platform to support millions of tagging datapoints and thousands of sample submissions.
"We are expanding the breadth and depth of our CertainT platform solution to existing customers while also positioning us for potential customers on their journey to digitizing their supply chains," said Judy Murrah, Chief Information Officer of Applied DNA. "We strive to allow our customers to have more transparency and accountability in their supply chains to the benefit of all stakeholders, whether financially, operationally, or in social responsibility."
Everledger Founder & CEO Leanne Kemp stated, "If an asset does not have an identity, it does not have ownership, value or existence. In the high-end products market, authenticity, provenance as well as value, cannot be separated. By incorporating a forensic layer to uniquely identifying an asset, we can provide the added confidence in the data captured and tracked on our blockchain-enabled platform."
"Through this collaboration with Applied DNA, we are excited to transform the standards of establishing authenticity and certification in a global manner. We look forward to extending our solutions for asset protection especially to industries that have an importance in the global commons."
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 proprietary DNA-molecular 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.
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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 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
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