STONY BROOK, NY--(Marketwired - August 18, 2015) - Applied DNA Sciences, Inc. (APDN) (Twitter: @APDN), a provider of DNA-based anti-counterfeiting technology and product authentication solutions, announced today that it has entered into a two-year contract with another U.S. government agency. Terms of the contract, including the scope of services, are confidential.
Dr. James A. Hayward, President and CEO of APDN stated, "This new contract is a testament to our success in building awareness within U.S. government agencies of the power of SigNature® DNA to provide supply-chain assurance and security. Our platform is flexible, unique and functions with the security and scale that government agencies need. By validating the effectiveness of SigNature DNA, we hope to create a significant opportunity from this contract for our DNA marking technology to become the regulatory standard used to enforce applicable federal law."
In addition to the contract announced today, Applied DNA is working with four agencies within the U.S. government sector where its DNA marks are used to establish forensic traceability to prevent the intrusion of counterfeit parts into government supply chains, including the Defense Logistics Agency (DLA). Current contracts with the Missile Defense Agency (MDA), and the Office of the Secretary of Defense (OSD) require the company to expand production scope and scale of production to accommodate as many as 100 component manufacturers, and to develop methodologies and commercial relationships capable of DNA-marking diversified parts ranging from O-rings to fasteners and electrical wire with historical DLA procurement volume of nearly 150,000,000 items.
About Applied DNA Sciences
We make life real and safe by providing botanical-DNA based security and authentication solutions and services that can help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA describes the platform ingredient that is at the heart of all of our security and authentication solutions. SigNature DNA is at the core of a family of uncopyable products such as DNAnet®, our anti-theft product, SigNature®T and fiberTyping®, targeted toward textiles, and digitalDNA®, providing powerful track and trace. All provide a forensic chain of evidence and can be used to prosecute perpetrators.
Applied DNA Sciences common stock is listed on NASDAQ under the symbol APDN, and its warrants are listed under the symbol APDNW.
Forward Looking Statements
The statements made by APDN in this press release may be “forward-looking” in nature within the meaning of the Private Securities Litigation Act of 1995. Forward-looking statements describe APDN’s future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN’s SEC reports and filings, including our Annual Report on Form 10-K filed on December 15, 2014, as amended on March 6, 2015, and our subsequent quarterly reports on Form 10-Q filed on February 9, 2015, May 11, 2015 and August 10, 2015, which are available at www.sec.gov. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events, unless otherwise required by law.