STONY BROOK, NY--(Marketwired - December 07, 2016) - Applied DNA Sciences, Inc. (NASDAQ: APDN) ("Applied DNA" or the "Company"), a provider of DNA-based supply-chain, anti-counterfeiting and anti-theft technology, product genotyping and product authentication solutions, is continuing its quest to protect automobiles in Scandinavia.
During fiscal 2016, Applied DNA realized revenues of approximately $500,000 from DNA marking of European luxury automobiles imported into Scandinavia. Revenue in fiscal 2017 is anticipated to increase, as more cars will be protected with its SmartDNA® product.
Working with insurers, Applied DNA conducted extensive pilots in Scandinavia during fiscal year 2015 that resulted in a reduction in thefts of vehicles protected with SmartDNA of 80 percent. Earlier this year, stolen parts from some of the marked vehicles were recovered by police and sent to Applied DNA's laboratories for forensic analysis. The expert witness reports the Company issued to the police helped convict active criminal teams to further reinforce the deterrent effect, demonstrating the effectiveness of SmartDNA.
Dr. James Hayward, president and CEO of Applied DNA, said, "We are encouraged by the success of the automobile protection program in Scandinavia and are pleased with the increasing revenue stream from this program. Based on the successes and support we have been receiving, we look forward to growing the program with more brands and more countries."
As a result of the success of Applied DNA's program, a Scandinavian car manufacturer will be promoting the Company's SmartDNA to more than one million customers, urging them to adopt the SmartDNA marking program to help protect their cars.
Applied DNA's products have helped arrest and convict a growing number of criminals. To date, a total of 106 criminals have been convicted in the UK, Netherlands and Sweden, on sentences exceeding 500 years in total as a result of the evidence presented from the company's products.
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 6, 2016, which is 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.