STONY BROOK, NY--(Marketwired - December 04, 2014) - Applied DNA Sciences, Inc. (APDN), (Twitter: @APDN), a provider of DNA-based anti-counterfeiting technology and product authentication solutions, announced today that it has signed an agreement for use of its SigNature® DNA anti-counterfeiting technology with a government agency. The initial agreement is valued at upwards of $250,000.
The agency would be the fourth government agency to sign with APDN. The company already has long-standing relationships with the Defense Logistics Agency (DLA), the Missile Defense Agency (MDA), and the Office of the Secretary of Defense (OSD). DLA is engaged in a commercial supply contract, while both the MDA and the OSD have signed two-year development contracts aimed at demonstrating capacity to greatly expand the use of the company's technology.
"Our platform is flexible, unique, and functions with the security and scale that government agencies need," said Janice Meraglia, Vice President of Government and Military Programs for APDN. "We believe we will continue to attract government interest, and are honored to add value to military and other agencies," she added.
Dr. James A. Hayward, President and CEO of APDN stated: "The nature of our work is to provide assurance and security to governments, industries and consumers. SigNature DNA has the power to do so with amazing versatility and strength, more than any other technology available."
About Applied DNA Sciences
APDN is a provider of 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 uncopyable marker that is at the heart of all of our security and authentication solutions. SigNature DNA is at the core of a family of products such as DNAnet®, our anti-theft product, SigNature® T, targeted toward textiles, and digitalDNA®, providing powerful track and trace. All provide a forensic chain of evidence and can be used to prosecute perpetrators.
The statements made by APDN may be forward-looking in nature. 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 20, 2013 (amended on May 1, 2014) and our subsequent quarterly reports on Form 10-Q/A (for the quarterly period ended December 31, 2013) and Form 10-Q for the quarterly periods ended March 31, 2014 and June 30, 2014. 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.