Joint Applied DNA/TheraCann’s Cannabis Seed-to-Sale Solution Positioned Towards Europe, Africa & Asia Markets by Israel Can...
February 06 2019 - 2:46PM
Business Wire
Israel Parliament Approval is Expected to
Catalyze Export of Medical Cannabis; ETCH Biotrace Solution
Positioned as Safe and Secure Means to Manage the Legal Supply
Chain for Export
Applied DNA Sciences Inc. (NASDAQ:APDN) (“Applied DNA” or the
“Company”), a leader in large-scale PCR-based DNA manufacturing,
announced today that two prior announcements by Israel Cannabis
raise the opportunity for uptake of Applied DNA’s CertainT®
Cannabis Tagging platform within the Israeli cannabis industry.
Central to the opportunity are agreements previously signed between
Applied DNA and TheraCann International Benchmark Corporation
(“TheraCann”), and between TheraCann and Israel Cannabis
(“iCAN”).
On November 1, 2018, iCAN announced the signing of a bilateral
service agreement and strategic alliance with TheraCann. The
agreement will allow iCAN to offer TheraCann’s (and hence, Applied
DNA’s) technology to emerging markets in Europe, Africa and Asia,
while allowing TheraCann clients access to iCAN’s technology
pipeline and expertise.
“I'm excited to put TheraCann’s ETCH (Electronic Traceability
for Cannabis and Hemp) biotrace technology in front of the Israeli
government,” said Saul Kaye, Founder and CEO of iCAN. “The ability
to use DNA to tag and trace cannabis at any point in the supply
chain is the gold standard of diversion-control and
IP-control.”
On December 26, 2018, iCAN announced the approval by the Israel
Parliament, or the Knesset, of the exportation of medical
cannabis.
Saul Kaye then included the following in his statement:
“Israel’s expertise in the field extends from cultivation and
processing to research and development. By law, Israeli companies
will be subject to strict supervision and maintain high medical
grade standards. Israel is perfectly positioned to enter and
disrupt the medical cannabis market that is expected to soar to $33
billion dollars worldwide in the next 5 years. In Israel alone, we
quickly expect over $1 billion in sales to countries interested in
our products.”
The law provides a budget that allows the Interior Ministry and
specifically the Israeli Police, to monitor, track and control the
production and delivery of cannabis for export, and ensure there is
no risk of leakage to the local illegal drug market. iCAN, through
its partner TheraCann, has secured the technology that can power
the police and Ministry of Health in Israel and provide complete
transparency and tracking of every gram of cannabis both for export
and the local market.
Dr. James Hayward, president and CEO of Applied DNA, stated
today that: “In combination, these two announcements by iCAN
identify one of the first opportunities for Applied DNA’s CertainT
platform to be utilized in the international cannabis marketplace.
We look forward to working with TheraCann to address new
markets.”
About iCAN: Israel-CannabisiCAN is building the global
cannabis ecosystem. iCAN identifies and accelerates innovative
medical cannabis technologies and creates synergies and cooperation
across the industry. iCAN uses its global network and reach to
position Israel as the leading medical cannabis tech hub.
For further information about iCAN, please visit
www.israel-cannabis.com or contact: Laura
Kam, laura@kamgs.com, +972-54-806-8613.
About TheraCann International Benchmark
CorporationFounded in 2004, TheraCann International Benchmark
Corporation offers a one-stop, full-service solution for the
International cannabis marketplace. TheraCann provides business,
technology and industry experts who apply advanced technology and
help clients design, build and run their cannabis businesses.
Integrating nearly 3.5 million square feet of cannabis operations
and the successful launch of groundbreaking Enterprise Resource
Planning (ERP) software, Aeroponic cultivation systems and patented
genetic tracking and diversion prevention systems, TheraCann
provides cannabis-related businesses with solutions to fit their
regulatory requirements.
More information about TheraCann is available at
www.theracanncorp.com. Follow us on Twitter or LinkedIn.
About Applied DNA SciencesApplied 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.
Visit adnas.com for more information. Follow us
on Twitter and LinkedIn. Join our mailing
list.
Common stock listed on NASDAQ under the symbol APDN, and
warrants are listed under the symbol APDNW.
Forward-Looking StatementsThe 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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version on businesswire.com: https://www.businesswire.com/news/home/20190206005718/en/
Investors: Sanjay M. Hurry, LHA Investor
Relations, 212-838-3777, shurry@lhai.comMedia: John
Shearman, 631-240-8838, john.shearman@adnas.comProgram: John
Shearman, 631-240-8838,
john.shearman@adnas.comWeb: www.adnas.comTwitter:
@APDN
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