Applied DNA and TheraCann International Conduct Successful Tagging and Testing Pilot of Legal Cannabis and Derivative-Products
STONY BROOK N.Y. (February 5th, 2018) – Applied DNA Sciences, Inc. (NASDAQ: APDN, “Applied DNA,” “the Company”) announced today that in conjunction with TheraCann International Benchmark Corporation, it has had early success in the tagging and authentication of legal cannabis and its derivatives in a laboratory pilot. The pilot demonstrated that after a single application of Applied DNA’s molecular taggants to cannabis plants during their growth stage, the taggants are detectable in processed trimmed cannabis, extracted cannabis oils and derivative products later produced from the tagged cannabis plants.
“These early pilot results provide us confidence that our combined expertise will produce a seed-to-sale solution that will provide an unparalleled level of transparency for growers, processors and dispensaries,” said Richard Goodman, President of TheraCann’s Tracking Technology Division. “Our solution will enable all members of the cannabis supply chain to conduct their own testing and prove, with scientific certainty, that their products are originating from their facilities or other legal sources.”
“The ability for our molecular taggants to be detected throughout all points in the legal cannabis supply chain, and for the tagged product(s) to be forensically analyzed, is an important strategic advantage for our platform,” said Gordon Hope, Director of Cannabis Markets at Applied DNA. “We are encouraged by these initial pilot study results, as we expect that our taggants will serve as a unique forensic identifier that becomes part of a blockchain transaction throughout the legal cannabis supply chain.”
In January 2018, Applied DNA and TheraCann announced an initial two-year, $1 million contract for the integration of the Applied DNA’s SigNature® molecular tagging and testing technology into TheraCann’s blockchain-based, seed-to-sale Enterprise Resource Platform (ERP) for legal cannabis operations. Applied DNA will develop the technologies necessary to tag and authenticate legal cannabis throughout the supply chain and seamlessly integrate tagging and authentication data into TheraCann’s ERP and blockchain platform.
This new platform is expected to be the first system of its kind to include molecular track-and-trace built on a powerful blockchain backbone for the management and tracking of legal cannabis and derivative products within the industry. Whereas broader and expanded testing is still to be performed, this is a significant milestone toward the eventual commercialization of the combined cannabis system.