Applied DNA Sciences says revenues leap, launches into track-and-trace

Brand protection specialist Advanced DNA Sciences reported a surge in revenues in the quarter ending March 31, driven by its activities in cash-in-transit, semiconductor and textile and apparel authentication.

The company, which specialises in DNA-based markers for authentication and anti-counterfeiting purposes, said revenues reached around $518,000 in the last quarter, up marginally against the last quarter of 2011 but 369 per cent up year-on-year.

Revenues broached the $1m barrier in the last six months for the first time thanks to sales of its SigNature DNA and BioMaterial GenoTyping technologies, which account for the bulk of its anti-counterfeiting and product authentication solution sales.

Applied DNA Sciences was also able to trim back its losses, with net loss falling 36 per cent in the quarter to a little over $1.5m, thanks in part to a greater control of operating expenses.

"Our product shipments have expanded dramatically over the last twelve months [and] we expect production increases to continue," said the firm's president and chief executive Dr. James Hayward.

Unveils pharma-compatible track-and-trace product

The company has just announced the launch of a DNA-secured form of QR code - called digitalDNA - that can be scanned using a proprietary iPhone app. The product has been developed in partnership with secure cloud-computing specialist DivineRune.

The product uses forensic authentication of a botanical DNA marker, sequence-encrypted within a secure QR code, and physically included within the ink used to digitally print the code, and marks the entry of Applied DNA Sciences into the digital track-and-trace sphere.

digitalDNA can be used to track individually packaged items, such as drugs or luxury goods, when the space on the item is available to print the digitalDNA matrix. On items too small for the matrix, such as microchips, digitalDNA can be used on lot shipments, according to the company.

Applied DNA Sciences has been building a presence in the pharmaceutical sector in recent years, and said that the new technology "will also aim to satisfy requirements of the California E-Pedigree Law, which requires an electronic record of every sale of prescription drugs in the state."

The pedigree must thoroughly document the drug, including its source, identification, and other data, it added. Some features of the California law require compliance as early as 2015, unless pre-empted by legislation at the federal level.