Post by marriott on Jul 24, 2018 13:16:04 GMT
Applied DNA, TheraCann International to Introduce Cannabis Tagging System (CTS) at the NCIA Cannabis Business Summit & Expo July 25-27
Debut of patent-pending device for production tagging by growers of mature plants
STONY BROOK N.Y., July 24, 2018 – Applied DNA Sciences, Inc., (NASDAQ: APDN), the leader in DNA-based authentication, in conjunction with TheraCann International (TheraCann) will launch the cannabis industry’s first cannabis tagging system (CTS) using Applied DNA’s CertainT® platform of tag, test and track. The device is designed to rapidly molecularly tag cannabis plants in commercial harvests of any scale. Once the molecular tag is applied, the plants and their derivative products can be forensically tracked through every stage of the supply chain all the way to the consumer.
The integrated solution being offered by Applied DNA and TheraCann, called ETCH Biotrace, is uniquely positioned at a very critical time in the maturation of the cannabis industry. Legal cannabis markets for medicinal and recreational use have enjoyed rapid development globally, paced by Uruguay, Canada, the Netherlands and Australia, all of which have legalized the export of medical cannabis. More recently, in North America, Canada is set to legalize recreational cannabis in October 2018, joining 9 U.S. states and Washington D.C., and 29 additional US states that have legalized cannabis for medicinal use.
Gordon Hope, Director of Cannabis Business Development of Applied DNA, said, “Combining our mature tagging expertise with the new seed-to-sale solution by TheraCann enhanced with ETCH Biotrace, provides for the first time, true transparency across the entire cannabis supply chain, from cultivator to processor and dispensary.”
The CTS is designed to tag plants directly during harvest. All the data associated with the tagging process will flow through Applied DNA’s and TheraCann’s integrated platform and will be presented to the appropriate stakeholders through dashboards and detailed reporting. Early testing has shown that Applied DNA’s tag will survive processing and can also be detected in cannabis derivative products such as cannabis oils, Rick Simpson oil, budder, and shatter.
Dr. James Hayward, president and CEO of Applied DNA, said, “As adoption of legal cannabis legislation gains momentum globally, having the capability to track cannabis supply chains from seed-to-sale can assure stakeholders of compliance with regulatory and legal requirements. By tagging the physical plant, we enable cultivators, processors and dispensaries to proactively authenticate their products throughout the supply chain and share that transparency with consumers and state governments.”
The US legal cannabis market reached $7 billion by 2016 and is expected to top $50 billion within the next 10 years. Tax benefits to individual states can be significant (over $200 million in Colorado in 2017), but the industry remains a challenge for regulators. (Prohibition Partners, The European Cannabis Report, First Edition, April 2017).
“The global cannabis market is growing at remarkable speed and the commercial ecosystem is becoming increasingly complex. A robust platform like the one we are introducing is required to provide a true end-to-end solution that addresses an ever-expanding global market,” stated Jason Warnock, CEO of TheraCann International.
Debut of patent-pending device for production tagging by growers of mature plants
STONY BROOK N.Y., July 24, 2018 – Applied DNA Sciences, Inc., (NASDAQ: APDN), the leader in DNA-based authentication, in conjunction with TheraCann International (TheraCann) will launch the cannabis industry’s first cannabis tagging system (CTS) using Applied DNA’s CertainT® platform of tag, test and track. The device is designed to rapidly molecularly tag cannabis plants in commercial harvests of any scale. Once the molecular tag is applied, the plants and their derivative products can be forensically tracked through every stage of the supply chain all the way to the consumer.
The integrated solution being offered by Applied DNA and TheraCann, called ETCH Biotrace, is uniquely positioned at a very critical time in the maturation of the cannabis industry. Legal cannabis markets for medicinal and recreational use have enjoyed rapid development globally, paced by Uruguay, Canada, the Netherlands and Australia, all of which have legalized the export of medical cannabis. More recently, in North America, Canada is set to legalize recreational cannabis in October 2018, joining 9 U.S. states and Washington D.C., and 29 additional US states that have legalized cannabis for medicinal use.
Gordon Hope, Director of Cannabis Business Development of Applied DNA, said, “Combining our mature tagging expertise with the new seed-to-sale solution by TheraCann enhanced with ETCH Biotrace, provides for the first time, true transparency across the entire cannabis supply chain, from cultivator to processor and dispensary.”
The CTS is designed to tag plants directly during harvest. All the data associated with the tagging process will flow through Applied DNA’s and TheraCann’s integrated platform and will be presented to the appropriate stakeholders through dashboards and detailed reporting. Early testing has shown that Applied DNA’s tag will survive processing and can also be detected in cannabis derivative products such as cannabis oils, Rick Simpson oil, budder, and shatter.
Dr. James Hayward, president and CEO of Applied DNA, said, “As adoption of legal cannabis legislation gains momentum globally, having the capability to track cannabis supply chains from seed-to-sale can assure stakeholders of compliance with regulatory and legal requirements. By tagging the physical plant, we enable cultivators, processors and dispensaries to proactively authenticate their products throughout the supply chain and share that transparency with consumers and state governments.”
The US legal cannabis market reached $7 billion by 2016 and is expected to top $50 billion within the next 10 years. Tax benefits to individual states can be significant (over $200 million in Colorado in 2017), but the industry remains a challenge for regulators. (Prohibition Partners, The European Cannabis Report, First Edition, April 2017).
“The global cannabis market is growing at remarkable speed and the commercial ecosystem is becoming increasingly complex. A robust platform like the one we are introducing is required to provide a true end-to-end solution that addresses an ever-expanding global market,” stated Jason Warnock, CEO of TheraCann International.