Applied DNA & Colorcon Announce Collaboration To Commercialize Product Authentication Technology for Pharmaceutical & Nutrace...
December 18 2017 - 4:30AM
Business Wire
Applied DNA Sciences, Inc. (NASDAQ:APDN; “Applied DNA”, “the
Company”), and Colorcon, Inc. (Colorcon) have entered into a
technology license memorandum of understanding (“MOU”) that
combines Applied DNA’s proprietary molecular taggant and
authentication technology with Colorcon’s portfolio of film coating
systems, inks and color dispersions for use in solid oral dosage
forms in the pharmaceutical and nutraceutical industries. This
collaboration will commercialize a platform for traceability
directly on dose, and is intended to significantly reduce the risks
associated with counterfeit and falsified medications entering the
drug supply chain. The MOU is non-binding and is expected to be
followed by a definitive agreement.
Colorcon has an international reputation as a pharmaceutical
supplier of choice based on superior product quality and technical
support, extensive regulatory assistance and reliable supply from
eleven manufacturing facilities worldwide. Founded on a commitment
to technology, research and development, Colorcon is always looking
for opportunities to address industry challenges with leading edge
products and services for the pharmaceutical market. Serialization
of packaging begins to mitigate the risks associated with
counterfeit drugs, but adoption of multiple technologies will
further secure supply chain integrity. “By incorporating molecular
taggants from Applied DNA into our specialty excipients, Colorcon
is able to offer a simple and seamless solution to our
pharmaceutical and nutraceutical customers to address
counterfeiting and product diversion issues,” says Kelly Boyer,
Film Coating GM at Colorcon.
“This MOU is the culmination of a multi-year effort to extend
the applicability of our molecular taggant technology to an
industry whose participants are moving quickly to address supply
chain concerns and comply with federal serialization mandates
across multiple continents, ” said Dr. James Hayward, president and
CEO of Applied DNA. “In partnering with Colorcon, we are aligned
with a truly innovative, high quality science and technology
company in bringing our novel technology to the center of the
pharmaceutical industry. The MOU complements our Tag, Test and
Track transparency with a strong global sales and marketing team.
The result will be end-to-end protection of a significant portion
of the total addressable pharmaceutic market (TAM). This will be
especially important in the US, which alone holds 45% of the global
pharmaceuticals market."
“This MOU presents what we believe is a breakthrough opportunity
to help pharmaceutical companies enhance patient safety and reduce
risk by using intelligent data and analytics gathered from
authentication of the dosage form themselves. By better
understanding trade flows and vulnerabilities in a complex global
supply chain, we are helping pharmaceutical leaders make better
decisions on managing distribution patterns, frequent monitoring
and deploying preventative measures for their products around the
world,” said Bob Miglani, Chief of Business Development at Applied
DNA.
About Colorcon®
Colorcon is a world leader in the development, supply and
technical support of formulated film coating systems, modified
release technologies, and functional excipients for the
pharmaceutical industry. Our best-in-class products and
technologies are complemented by our extensive application data and
value-added services to support all phases of solid oral dose
design and development. Our focus on market issues and technology
development has earned Colorcon an international reputation as a
pharmaceutical supplier of choice. That reputation is based on the
superior product quality, unparalleled technical support, extensive
regulatory assistance and reliable supply from multiple locations
Colorcon has 11 manufacturing facilities including seven film
coating plants, 21 technical service laboratories globally and more
than 1200 employees exclusively dedicated to its customer base.
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 uncopiable, 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.
Visit adnas.com for more information. Follow us on Twitter and
LinkedIn. Join our mailing list.
The Company’s common stock is listed on NASDAQ under the symbol
APDN, and its 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
APDN. Actual results could differ materially from those projected
due to our history of losses, limited financial resources, limited
market acceptance, market competition 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
6, 2016, and our subsequent quarterly reports on Form 10-Q filed on
February 9, 2017, May 11, 2017, and August 10, 2017 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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version on businesswire.com: http://www.businesswire.com/news/home/20171218005290/en/
Investors:LHA Investor RelationsSanjay M. Hurry,
212-838-3777shurry@lhai.comorMedia:DGI CommCheryl Schneider,
212-825-3210cschneider@dgicomm.comorProgram:Applied DNA
SciencesBob Miglani, 631-240-8800Chief of Business
Developmentbob.miglani@adnas.comweb: www.adnas.comtwitter:
@APDN
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