STONY BROOK, NY--(Marketwire - May 4, 2010) - Applied DNA Sciences, Inc. (
All cottons are not created equal. The distinction between different species of cotton is what separates ELS (Gossypium barbadense) cotton from Upland (Gossypium hirsutum) cotton. FiberTyping is a Cotton Authentication DNA test, developed in collaboration with Supima, that has been utilized in trials by several well-established retailers and manufacturers around the world. This test has been blind-test validated. The commercial launch of FiberTyping should solidify APDN as the leader in DNA authentication of cotton fiber content.
Global cotton production exceeds 50 billion pounds per year. According to The US Cotton Market Monthly Economic Letter (12 April 2010), the four largest producers are: China (31%), India (23%), US (12%) and Pakistan (10%). Recently, Applied DNA has completed FiberTyping for customers based in the US, China, Hong Kong and India.
"We believe that by authenticating the fiber content for cotton before it reaches the retailer or end consumer is a big step in the right direction. By assuring quality, everyone along the supply chain is protected. FiberTyping provides a means to ensure that premium cotton labels contain premium fibers. We believe that the potential to test a wide range of cotton products represents a significant opportunity for FiberTyping to be incorporated into Quality Assurance and Control Programs for cotton on a global scale," stated Dr. James A. Hayward, CEO of APDN.
The advantages offered with FiberTyping are the abilities to:
- authenticate cotton content in finished products
- assure quality control at any stage of the cotton manufacturing process
- ensure brand protection
- provide confidence at the retail level.
Cotton classification is an issue of global significance, important to brand owners and to governments that must regulate international cotton trade. The identification of the fiber content of finished textiles provides a significant opportunity for license holders to control their brands and for governments to improve their ability to enforce compliance with international trade agreements.
Cotton is an integral part of the US textile manufacturing sector's rapid growth. Annual business revenue stimulated by cotton in the US economy exceeds $120 billion, making cotton America's number one value-added crop (Source: National Cotton Council). Globally, the total cotton testing market includes retailers, manufacturers and government regulators who are responsible for compliance with labeling and international trade agreements. The application of FiberTyping is also relevant to premium cotton fibers across the globe including extra long staple Supima, Egyptian Giza cotton and Peruvian cotton.
Under the Textile Act, a textile fiber product is misbranded and subject to fines and penalties if it is falsely or deceptively stamped, tagged, labeled, invoiced or otherwise identified.
In the largest civil penalty ever obtained in a Textile Act case, WestPoint-Stevens agreed to settle FTC charges that it violated the Textile Fiber Products Identification Act (Textile Act) by misbranding and mislabeled the proportion of Pima cotton contained in the sheets and towels it manufactured and sold. The company, one of the biggest US textile manufacturers, agreed to pay a civil penalty of $360,000 to settle these charges.
About APDN
APDN sells patented DNA security solutions to protect products, brands and intellectual property from counterfeiting and diversion. SigNature DNA is a botanical mark used to authenticate products in a unique manner that essentially cannot be copied. APDN also provides BioMaterial GenoTyping™ by detecting genomic DNA in natural materials to authenticate finished products. Both technologies protect brands and products in a wide range of industries and provide a forensic chain of evidence that can be used to prosecute perpetrators. To learn more, go to (www.adnas.com).
The statements made by APDN may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe APDN'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 short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-K, filed on December 23, 2009 and our subsequent quarterly reports on Form 10-Q. APDN 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.
Contact Information:
INVESTOR CONTACT:
Debbie Bailey
631-444-8090
fax: 631-444-8848
MEDIA CONTACT:
Janice Meraglia
631-444-6293
fax: 631-444-8848
FCMN Contact:
Web site: http://www.adnas.com