SOURCE: Applied DNA Sciences

Applied DNA Sciences

August 17, 2011 08:30 ET

Applied DNA Sciences Appoints Four New Members of the Board of Directors

New Diversity and Expertise Prepare Company for Growth

STONY BROOK, NY--(Marketwire - Aug 17, 2011) - Applied DNA Sciences, Inc. (OTCBB: APDN), a provider of DNA-based security, anti-counterfeiting technology and product authentication solutions, announced the election of four new members to its Board of Directors: John Bitzer III, President & Chief Executive Officer of ABARTA, Inc.; Gerald Catenacci, Neustrada Capital LLC; Karol Gray, Vice President for Finance & Administration and the Chief Financial Officer at the University at Stony Brook and Charles Ryan, Sr. Vice President and Chief Intellectual Property Counsel at Forest Laboratories.

"The expansion of APDN's Board of Directors ensures the company will continue to benefit from a diversity of experience and opinions. After an extensive search, we determined these were the best candidates because of their proven leadership skills, broad management experience in established companies, and their reputation as independent thinkers," stated Dr. James Hayward, President and CEO, APDN.

Dr. Charles Ryan earned a doctorate in oral biology and pathology from SUNY Stony Brook and a law degree from Western New England College School of Law. Dr. Ryan is the Sr. Vice President, and Chief Intellectual Property Counsel at Forest Laboratories, where he has been employed since 2003. Forest, with a market capitalization of nearly $10 billion, develops branded drugs, including Lexapro and Celexa, used to treat depression, Benicar, for hypertension and Aerobid, a metered dose inhaler for asthma.

Karol Gray is Chief Financial Officer of the Stony Brook Foundation and the Vice President for Finance & Administration at Stony Brook University, an organization she has served for over 33 years. As Chief Financial Officer for the Stony Brook Foundation, Ms. Gray provides financial direction and support for the Budget, Investment, and Realty Committees. Ms. Gray is responsible for the University financial operation as well as the Foundation's net assets of $200 million. She is active on several committees, including the Brookhaven National Laboratory Audit Committee, the Presidential Budget Working Group, and the Investment Subcommittee of the Research Foundation of the State University of New York, and is a member of the Executive Committee of the State University of New York Business and Officers Association. Ms. Gray has a Bachelor in Business Administration from Hofstra University and currently serves as Treasurer of Faculty Student Association.

John Bitzer, III, is President & Chief Executive Officer of ABARTA, Inc., a private, fourth-generation family holding-company with operations in the soft drink beverages, newspaper publishing, oil and gas exploration and development, and frozen food industries. In 1985, Mr. Bitzer began his career in sales for the Cleveland Coca-Cola Bottling Company. He has been Publisher of Atlantic City Magazine in Atlantic City, N.J. In 1994 he founded the ABARTA Media Group and held the position of Group Publisher. In 1997 he was named President & Chief Operating Officer of ABARTA, Inc. and has been President & Chief Executive Officer since 1999. He is a director of the Institute for Entrepreneurial Excellence at the University of Pittsburgh. Mr. Bitzer has a degree from the University of Southern California and an MBA from the University of Michigan. Mr. Bitzer stated: "I look forward to working with Dr. Hayward and the rest of the Applied DNA Sciences board in making our vision for the company a reality."

Gerald Catenacci is the Founder and President of Neustrada Capital, LLC, a private investment fund. Mr. Catenacci obtained a Bachelor of Science in Civil Engineering from McMaster University in 1985, and has spent his career in equity management. Mr. Catenacci was the Founding Partner and Managing Director Principled Capital Management, a successful hedge fund that operated in New York City from 1998 to 2010.

These additions increase the number of APDN directors to seven. Dr. James Hayward, chairman, president and chief executive officer of Applied DNA Sciences, Dr. Yacov Shamash, Vice President of Economic Development and Dean of the College of Engineering at the State University of New York at Stony Brook, and Dr. Sanford Simon, Professor of Biochemistry, Cell Biology and Pathology at the State University of New York at Stony Brook continue to serve on the Board.

About APDN
APDN sells patented DNA security solutions to protect products, brands and intellectual property from counterfeiting and diversion. SigNature DNA is a botanical mark used to authenticate products in a unique manner that essentially cannot be copied. Our mark provides a forensic chain of evidence that can be used to prosecute perpetrators. To learn more, go to www.adnas.com where APDN routinely posts all press releases.

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 15, 2010 and our subsequent quarterly reports on Form 10-Q. 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.

Contact Information

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