Applied DNA moves ahead with forensic tracking of cannabis with TheraCann

By Jenny Eagle contact

- Last updated on GMT

Photo: ETCH Bio Solutions.
Photo: ETCH Bio Solutions.

Related tags: Cannabis, track and trace

Applied DNA has received the first $1m of a $5m licensing fee as part of its agreement with TheraCann legal cannabis and hemp consultancy.

The companies announced earlier this year,​ they had entered into an exclusive licensing deal that grants TheraCann’s subsidiary, ETCH BioTrace, the use of Applied DNA’s CertainT supply chain integrity platform technology within the global legal cannabis and hemp markets. 

CertainT platform

Under the terms of the agreement​, a $5m up-front licensing fee is payable to Applied DNA over a four-month period beginning on or before April 15, 2019, and completed by August 15, 2019. Agreement.  

The agreement with TheraCann represents further validation of the commercialization of our CertainT technology platform across industries where compliance, control and tracking are essential​,” said James Hayward, CEO, Applied DNA. 

Powered by our CertainT platform, TheraCann’s ETCH biotrace system can provide the global legal cannabis and hemp industries the ability to ensure authentication and origin verification for products through the supply chain​.” 

Pursuant to the agreement, Aplied DNA will be the exclusive supplier of molecular tags (provided as SigNature), molecular tag application systems and molecular tag authentication systems for TheraCann’s ETCH biotrace seed-to-sale-tracking system. 

Pre-commercial pilots

The impact on our balance sheet is beneficial and will allow us to respond to requests for pre-commercial pilots that we have already received," ​added Hayward.

We believe the growing demand for legalized cannabis is driving the creation of the industry’s global supply chains and is accelerating the need for solutions to secure and validate them from inception through to consumption, destruction and/or recall​.

Jason Warnock, CEO of TheraCann International said it had already received multiple letters of intent from numerous countries wanting to protect their licensed cannabis supply chain, in response to its shared ETCH biotrace platform, and it is anticipating commercial trials for international export opportunities. 

Additional information with respect to the TheraCann Agreement was filed via Form 8-K​ with the Securities and Exchange Commission on April 3, 2019. 

Related topics: Food Safety & Quality, Food safety

Related news

Related products

show more

19 Pocket Cards with Essential Kjeldahl Knowledge

19 Pocket Cards with Essential Kjeldahl Knowledge

BÜCHI Labortechnik AG | 26-Jul-2021 | Technical / White Paper

With our free cue cards, keep essential knowledge of the Kjeldahl method with theory and tips right at your fingertips, for quick and easy referral. Cover...

Traceability: A Critical Area for Food & Beverage

Traceability: A Critical Area for Food & Beverage

Aptean | 23-Jun-2021 | Technical / White Paper

Traceability is a critical area for food and beverage businesses to ensure sustainable success. It has quantifiable consequences for your business to either...

Perfecting plant-based foods with Kemin solutions

Perfecting plant-based foods with Kemin solutions

Kemin Food Technologies | 26-May-2021 | Technical / White Paper

In the past few years, we witnessed awareness of pushing consumer trends towards healthy, plant-based and label-friendly products, but also protein alternatives...

How a Food and Beverage ERP Drives Success

How a Food and Beverage ERP Drives Success

Aptean | 05-May-2021 | Technical / White Paper

An industry-specific enterprise resource planning (ERP) solution could be the key differentiator between "just getting by" and exceeding your...

Related suppliers

Follow us

Products

View more

Webinars