SOURCE: Applied DNA Sciences

Applied DNA Sciences

November 04, 2015 05:30 ET

Applied DNA Sciences Awarded Contract Extension By the U.S. Defense Logistics Agency (DLA) For DNA-Marking With SigNature® DNA

STONY BROOK, NY--(Marketwired - November 04, 2015) - Applied DNA Sciences, Inc. (NASDAQ: APDN) (Twitter: @APDN), a provider of DNA-based supply chain, authentication and product identification solutions, anti-counterfeiting and anti-theft technology, and product genotyping solutions, announced that the U.S. Defense Logistics Agency (DLA) has awarded the company a one-year extension of its current contract through November 12, 2016. Under the terms of the current contract, Applied DNA provides DLA with SigNature® DNA marks, related equipment, services and training at DLA's Electronic Product Test Center in Columbus, OH, with a focus on microcircuits to support existing systems.

Dr. James Hayward, President and CEO of Applied DNA Sciences, stated, "The U.S. government defense sector represents a substantial opportunity for Applied DNA Sciences and our customers, who now number five different federal agencies and are important early adopters of our technology. Our DNA-based technology offers DLA the means through which to provide supply-chain assurance and security."

Applied DNA continues to implement additional federal contracts:

  • Phase II Small Business Innovation Research (SBIR) contract from the U.S. Missile Defense Agency awarded July 2014 to develop more efficient methods of high volume SigNature DNA application, accommodate as many as 100 original component manufacturers and develop an optical reader for in-field, rapid detection of the SigNature DNA ink marked on a component.
  • Rapid Innovation Fund (RIF) contract from the Office of the Secretary of Defense awarded August 2014 to develop a single authentication platform -- Applied DNA's "SigNature® DNA" and complementary technologies -- to identify authentic products and deter the infiltration of counterfeits in six Department of Defense (DOD) Federal Supply Groups (FSGs). These FSGs encompass 66 classes of commodities, including electronic and vehicular equipment components, bearings, engine accessories, pipes, tubing, hoses, and fittings, hardware and abrasives. Under this contract, Applied DNA Sciences will also perform services such as development, test and evaluation, field trials, and transition to government operations.
  • Both are non-recurring contracts. However they represent opportunities for future revenue.
  • Two non-defense federal agencies maintain relationships with Applied DNA. The scope of services that the company provides, and financial terms, are confidential.
  • The company is exploring additional government relationships and potential future contracts.

Janice Meraglia, Vice President of Government and Military Programs at Applied DNA Sciences commented, "The three DOD contracts are impressive on their own, and in combination underscore the inherent flexibility of our platform and its unique functionality at a scale that government agencies need. The current DLA contract has a focus on maintenance and repair components already manufactured to support existing systems in theater; the SBIR is more targeted to newly manufactured parts and the RIF calls out for a single authentication platform across a broad range of commodities. Together, they illustrate the breadth and depth of applications of our technology to our defense and federal customers."

About Applied DNA Sciences

Applied DNA Sciences makes life real and safe by providing biotechnology-driven solutions to help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. Patented botanical DNA solutions can be used to identify, tag, track, and trace products, to help assure authenticity, traceability and quality of products. SigNature DNA is at the heart of a family of uncopyable, security and authentication solutions such as SigNature® T and fiberTyping®, targeted toward textiles and apparel, DNAnet®, for anti-theft and loss prevention, and digitalDNA®, providing powerful track and trace. All provide a forensic chain of evidence, and can be used to prosecute perpetrators.

Go to adnas.com for more information, events and to learn more about how Applied DNA Sciences makes life real and safe. Common stock listed on NASDAQ under the symbol APDN, and 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.

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