STONY BROOK, NY / ACCESSWIRE / November 28, 2023 / Applied DNA Sciences, Inc. (NASDAQ:APDN) ("Applied DNA" or the "Company"), a leader in PCR-based DNA technologies, today announced the receipt of a follow-on order for Linea™ DNA valued above the mid-six figures. The order was placed under a long-standing supply agreement for the bulk manufacture of Linea DNA (non-therapeutic) for a global manufacturer of in vitro diagnostics (IVD). Under the terms of the repeat order, deliveries are expected to commence during the fiscal quarter ending March 31, 2024, through the fiscal quarter ending December 31, 2024.
"We continue to see strong demand for IVD-related applications for Linea DNA. We believe our platform is optimal for the cost-effective and large-scale production of specialized DNA sequences used in IVD applications, and especially those that are too large for conventional oligonucleotide synthesis or require chemical modification. These are potentially high margin, recurring revenues with an opportunity for incremental revenues through new customer acquisition and as existing customers validate and expand Linea DNA use to other assays," stated Dr. James A. Hayward, president and CEO of Applied DNA.
About Linea™ DNA
Linea™ DNA is an enzymatically produced linear DNA manufactured by the Company's proprietary, large-scale polymerase chain reaction ("PCR") based manufacturing platform, the Linea™ DNA platform. Linea DNA serves as an alternative to plasmid-based DNA that has been utilized in the manufacture of biotherapeutics for the past 40 years. Linea DNA is relevant to the next generation of nucleic acid-based therapies and diagnostics, including mRNA production, DNA vaccines, cell and gene therapies, as well as numerous veterinary medicine applications.
About Applied DNA Sciences
Applied DNA Sciences is a biotechnology company developing technologies to produce and detect deoxyribonucleic acid ("DNA"). Using the polymerase chain reaction ("PCR") to enable both the production and detection of DNA, we operate in three primary business markets: (i) the enzymatic manufacture of synthetic DNA for use in the production of nucleic acid-based therapeutics and, through our recent acquisition of Spindle Biotech, Inc. ("Spindle"), the development and sale of a proprietary RNA polymerase ("RNAP") for use in the production of mRNA therapeutics; (ii) the detection of DNA and RNA in molecular diagnostics and genetic testing services; and (iii) the manufacture and detection of DNA for industrial supply chain security services.
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The Company's common stock is listed on NASDAQ under ticker symbol 'APDN,' and its publicly traded warrants are listed on OTC under ticker symbol 'APPDW.'
Forward-Looking Statements
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 its history of net losses, limited financial resources, unknown future demand for its biotherapeutics or diagnostic products and services, the unknown amount of revenues and profits that will result from the Linea DNA™ and/or Linea™ IVT platforms, limited market acceptance for its supply chain security products and services, the fact that there has never been a commercial drug product utilizing PCR-produced DNA technology and/or the Linea IVT or Linea DNA platforms approved for therapeutic use, and various other factors detailed from time to time in Applied DNA's SEC reports and filings, including its Annual Report on Form 10-K filed on December 14, 2022, as amended, its 10-Q filed on February 9, 2023, May 11, 2023, and August 10, 2023, and other reports it files 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 Relations contact: Sanjay M. Hurry, 917-733-5573, sanjay.hurry@adnas.com
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Twitter: @APDN
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SOURCE: Applied DNA Sciences, Inc.
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https://www.accesswire.com/810720/applied-dna-announces-receipt-of-lineatm-dna-follow-on-order-for-cancer-diagnostic-application
