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Applied DNA Sciences, Inc. (NASDAQ:APDN) (Applied DNA or the "Company"), a leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing and nucleic acid-based technologies, today announced that it has entered into a Master Services Agreement (the "MSA") with Flora Growth (NASDAQ:FLGC) (Flora) to deploy the Company's CertainT® platform as part of Flora's global cannabis product validation and authentication platform for consumers, distributors, and government regulators. Concurrently, the Company received a Statement of Work (SOW) under the MSA from Flora to implement its CertainT platform and supply related equipment and services for three locations (1 in Florida; 2 in the Republic of Colombia), where the Company's molecular tags will be applied to quantities of Flora's cannabis flower and derivatives, as well as select products in their portfolio. Financial terms of the SOW were not disclosed.
The MSA is the result of the Company's strategic alliance, referral, and technology integration agreement with TruTrace Technologies, Inc. (CSE:TTT, OTCQB:TTTSF) (TruTrace) under which TruTrace's blockchain-based StrainSecure™ platform was integrated with CertainT to deliver a complete, end-to-end supply chain security solution to cannabis companies. Flora will employ the integrated CertainT-StrainSecure solution to support its product validation and authentication platform to be utilized to deliver on Flora's previously announced commercial agreements to export cannabis products internationally to open markets like Australia.
Flora, a manufacturer and wholesaler of cannabis and cannabis derivative products and operator of one of the largest outdoor cannabis cultivation facilities, is differentiated by its use of natural ingredients and value-chain sustainability. Flora's cannabis derivative products are used in premium cosmetics, hemp textiles, and food and beverage applications.
"Business imperatives centered on branding and supply chain mastery will be the defining characteristics of cannabis companies positioning to compete globally. To that end, CertainT's value proposition delivers brand and product differentiation, IP protection, and supply chain security from inception to consumption that, we believe, will further catalyze interest and adoption of our platform," stated Dr. James A. Hayward, president and CEO of Applied DNA. "CertainT offers customers like Flora unmatched levels of transparency, traceability, and trust across their supply chains that are further improved through our integration with TruTrace. We are very pleased to undertake our first international commercial cannabis venture alongside Flora and, given its growing and diverse portfolio of cannabis and cannabis derivative products, we believe we are in the early stages of a mutually beneficial commercial relationship with Flora."
Robert Galarza, CEO of TruTrace, stated, "The first fruits of our partnership with Applied DNA have been realized and at a time when the cannabis industry's globalization has accelerated the need for solutions to verify supply chains in defense of a brand's intellectual property and brand equity. Companies like Flora, who recognize and address this need, will hold a competitive advantage in the market and offer compelling value to end-customers. The integration of our platform with CertainT is designed specifically to meet that need."
