ALACHUA, Fla., Jan. 17, 2017 /PRNewswire/ -- Sid Martin Biotechnology Institute, the leading biotechnology incubator at the University of Florida, announced today that Applied Food Technologies (AFT), a molecular diagnostics company focused on the development and commercialization of products and services for the food industry, has graduated from the UF/Sid Martin Biotechnology Institute's Program for startup companies. AFT's new location remains close to home as the company has acquired space in Progress Park, the North Central Florida center for business and innovation.
Combating Fish Fraud in U.S. Commerce
AFT specializes in seafood species identification and verification to help combat "fish fraud," the mislabeling of fish and seafood that defrauds consumers, restaurants, distributors, retail and food industry organizations. The company's seafood species DNA identification method is unique in the commercial marketplace in that its foundation is based solely on taxonomically validated reference material. To AFT's knowledge it is the only such system in the U.S.
Having worked with the seafood industry and regulatory agencies for more than a decade, AFT has developed and refined advanced diagnosticsutilized in testing services for seafood species identification. Building on a trusted reputation, AFT now works with several of the world's largest seafood companies to insure quality seafood on every plate.
During the last seven years while growing the company in the Sid Martin Biotechnology Institute Program, AFT received several NOAA federal grants and contracts. In June 2016 AFT received its sixth USDA SBIR Phase II award.
LeeAnn Applewhite, Founder and President of Applied Food Technologies, said, "Working in the Institute's incubation program was the best environment for AFT to develop and commercialize our cutting-edge technology. We are proud to be able to offer superior testing solutions to the challenges the food industry faces today."
Mark S. Long, Director of the Sid Martin Biotechnology Institute, commented, "The Institute's substantial resources assisted AFT in bringing their technology innovations in molecular science to the marketplace. We are pleased to see them graduate to success and progressing to even greater success."
The Sid Martin Biotechnology Institute has facilitated the launch and acceleration of more than 60 successful companies that have garnered over $1.6 billion in venture capital and revenues. The Institute offers startups collaborative, open laboratory workspace combined with financial, technical and human resources to nurture startups' growth and commercialization.
About Applied Food Technologies, Inc.
Applied Food Technologies (AFT) is a molecular diagnostics company engaged in the research, development and commercialization of products and services for the food industry. AFT specializes in seafood species identification and verification, and follows FDA's validated method for DNA barcoding for the species identification of fish. The company's seafood species DNA identification method is unique in the commercial marketplace in that its foundation is based solely on taxonomically validated reference material. To AFT's knowledge, it is the only such system in the U.S. AFT has been working with the seafood industry and regulators for more than a decade to ensure the diagnostics developed and utilized in its testing services are comprised of the 'best available science' for seafood species identification. For more information, visit http://www.appliedfoodtechnologies.com.
About the Sid Martin Biotechnology Institute at the University of Florida
The Sid Martin Biotechnology Institute is the leading biotechnology incubator headquartered at the University of Florida in Alachua, Florida at Progress Park. It has been honored with national and international awards for incubator excellence and achievements in technology commercialization, funding access, job creation and technology-based economic development. The Institute is dedicated to mentoring and accelerating the growth of innovative early-stage bioscience and biotechnology companies, and supporting the economic growth of the North Central Florida region. For more information, visit http://www.sidmartinbio.org.
Reference: "Consumer Product Fraud: Deterrence and Detection," 2010 Study by the Grocery Manufacturers Association (GMA) and A.T. Kearney.
Founder and President, Applied Food Technologies, Inc.
Assistant Director, Sid Martin Biotechnology Institute
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SOURCE Sid Martin Biotechnology Institute