Applied DNA Sciences, Inc. (NASDAQ:APDN) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01Entry into a Material Definitive Agreement.

On June 23, 2017, Applied DNA Sciences, Inc. (Applied DNA
Sciences or the Company) entered into a new licensing agreement
(the Agreement) with Himatsingka America, Inc.(HAI). The
Agreement terminates an earlier licensing agreement dated March
25, 2015 between Divatex Home Fashion, Inc. (a predecessor to
HAI) and the Company. Under the terms of the Agreement, HAI will
be solely responsible for promoting, marketing and selling on a
worldwide basis the Companys technology with respect to finished
and unfinished cotton products.

The Agreement grants HAI an exclusive license to use the Companys
technology in respect of cotton, subject to certain carve-outs
including governmental users, non-commercial trade associations
and others. The Agreement has a term that continues until June
23, 2042, except in the case of patents, in which case the term
continues with respect to a patent until such patent is no longer
in effect.

The Agreement provides that HAI will make payments for the use of
the Companys taggant technology on a net 60 days basis. In
addition, HAI will make royalty payments on a quarterly basis in
arrears in the event the Companys technology is used on non-home
products. HAI is responsible for the inspection and compliance
within the supply chain.

HAI is generally required to use the Companys technology during
the term of the Agreement, subject, among other things, to their
customers requirements. The Company will be required by the
licensing agreement to establish an independent testing
laboratory in Ahmedabad, India. The Agreement includes customary
mutual indemnification provisions.

On June 27, 2017, Applied DNA Sciences, Inc. (Applied DNA
Sciences or the Company) issued a press release announcing that
it entered into the Agreement. A copy of the press release is
furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information related to the press release furnished to this
Item 1.01, including Exhibit 99.1, shall not be deemed filed for
purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the Exchange Act), or otherwise subject to the
liabilities under that Section and shall not be deemed to be
incorporated by reference into any filing of the Company under
the Securities Act of 1933 or the Exchange Act, except as shall
be expressly set forth by specific reference in such filing.

Item 9.01.Financial Statements and Exhibits.

(d) Exhibits

APPLIED DNA SCIENCES INC Exhibit
EX-99.1 2 t1700405_ex99-1.htm EXHIBIT 99.1     Exhibit 99.1     Applied DNA Sciences Signs New Licensing Agreement with Himatsingka America. New Agreement to Empower Large Scale Supply Chain Security within the Cotton Industry   STONY BROOK,…
To view the full exhibit click here
About Applied DNA Sciences, Inc. (NASDAQ:APDN)

Applied DNA Sciences, Inc. is engaged in creating security solutions addressing the challenges of modern commerce. The Company is also engaged in the large-scale production of specific deoxyribonucleic acid (DNA) sequences using the polymerase chain reaction (PCR). Its principal technology platform includes SigNature DNA, SigNature T DNA, fiberTyping, DNAnet, digitalDNA, SigNify and Beacon. Its SigNify IF portable DNA reader provides definitive real-time authentication of SigNature DNA in the field-DNA becomes a solution for supply chain integrity. SigNature DNA is the Company’s platform ingredient, at the core of all its security solutions. It provides forensic power and protection for a range of applications. SigNature T DNA is a tagging and authentication system specifically designed for textiles and apparel. DNAnet is a DNA marker that can be used to definitively link evidence and offenders to specific crime scenes and help return stolen or lost property to its rightful owner.