Applied DNA Ships LinearDNA™ to Another Development Customer Subsidiary of Global Biopharmaceutical Company to Evaluate Linear DNA as Replacement for Plasmids for CAR T Applications
STONY BROOK, N.Y., March 26, 2020 – Applied DNA Sciences Inc. (NASDAQ: APDN) (“Applied DNA” or the “Company”) a leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing that enables diagnostics, pre-clinical nucleic acid-based therapeutic drug candidates, supply chain security, anti-counterfeiting and anti-theft technology, announced today that it has shipped two CAR T amplicons proprietary to the biologics subsidiary of a U.S.-based, global biopharmaceutical company. The customer is one of nearly two dozen development customers in various stages of evaluating the use of linear DNA manufactured by the Company.
“We see a steady flow of interest for our LinearDNA™ manufacturing platform from customers with gene and redirected-cell therapies. Securing development customers is the first step in our LinearDNA commercialization strategy that offers a path to higher and recurring revenues as customers validate linear DNA as a viable alternative to plasmid DNA. We expect some customers will license our intellectual property to enable the optimal performance of their therapeutic,” said Dr. James Hayward, president and CEO of Applied DNA. “I am especially proud of our team during this coronavirus outbreak who continue to prioritize our work on COVID-19-related therapies and diagnostics, as well as deliver linear DNA to customers without interruption. In the coming weeks and months, we expect to continue our work with all therapeutic customers to optimize LinearDNA for their unique therapeutic applications.”
LinearDNA™ is Applied DNA’s branded platform for large-scale DNA manufacture by PCR.
About Applied DNA Sciences, Inc.
Applied DNA is a provider of nucleic acid technologies that enable diagnostics, pre-clinical nucleic acid-based therapeutic drug candidates, supply chain security, anti-counterfeiting anti-theft technology and product genotyping.
LinearDNA™ is a trademark of Applied DNA Sciences, Inc
The 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 the possibility of a failure to make timely payment on its outstanding secured convertible notes and resulting enforcement by noteholders of remedies on collateral which includes substantially all of Applied DNA’s assets, its history of net losses, limited financial resources, limited market acceptance, the fact that there has never been a commercial drug product utilizing PCR-produced DNA technology approved for therapeutic use, the uncertainties inherent in research and development, future clinical data and analysis, including whether any of Applied DNA’s or its partners product candidates will advance further in the preclinical research or clinical trial process, including receiving clearance from the U.S. Food and Drug Administration or equivalent foreign regulatory agencies to conduct clinical trials and whether and when, if at all, they will receive final approval from the U.S. FDA or equivalent foreign regulatory agencies, the unknown outcome of any applications to U.S. FDA or equivalent foreign regulatory agencies, Applied DNA’s ability to obtain and maintain adequate protection for intellectual property rights relating to its product candidates and technologies, 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 12, 2019 and our subsequent quarterly report on Form 10-Q filed on February 6, 2020, 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.
investor contact: Sanjay M. Hurry, LHA Investor Relations, 212-838-3777, firstname.lastname@example.org
program contact: Brian Viscount, Applied DNA, 631-240-8877, email@example.com