SOURCE: Applied DNA Sciences

Applied DNA Sciences

May 10, 2016 05:30 ET

Applied DNA Sciences Signs Five-Year, $2.5 Million Blanket Purchase Agreement With Federal Agency

Allows DNA-Based Security Solutions to Be Quickly Ordered and Delivered

STONY BROOK, NY--(Marketwired - May 10, 2016) - Applied DNA Sciences (NASDAQ: APDN) (Twitter: @APDN), a provider of DNA-based supply-chain, anti-counterfeiting and anti-theft technology, product genotyping and product authentication solutions,announced today that it has signed a new $2.5 million contract with a U.S. government agency for use of its SigNature® DNA products. The contract vehicle is a blanket purchase agreement (BPA) with a period of performance of April 1, 2016 through March 31, 2021. The contract allows for the sale of both standard products and the development of new products over the five-year term.

The BPA is a simplified acquisition method that government agencies use to fill anticipated repetitive needs for supplies and/or services. Essentially, BPAs are like "charge accounts" set-up with trusted suppliers that have demonstrated dependable past performance and have a history of quality services and supplies. The BPA is an efficient contract vehicle because once established, repeat purchases are easy for both sides.

The contract vehicle also allows Applied DNA Sciences the ability to develop new products and solutions for the contracting agency at an accelerated deployment pace compared with traditional contract-development paths. Rapid adoption of "bleeding edge" DNA-tracing technologies can provide the US government with a robust Safeguards response to manage the risks associated with the supply chain for Mission Critical infrastructure components.

"Our performance record at the federal level speaks for itself and is one of our best selling tools," said Dr. James Hayward, Chairman, President and CEO of APDN. "As our reputation spreads within and across agencies, as engaged creative solution providers and partners, we gain new federal customers. This BPA will allow rapid deployment with new applications without the need to negotiate individual contracts. We are thrilled to continue to be of service to our government."

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. Our patented DNA-based solutions can be used to identify, tag, track, and trace products, to help assure authenticity, traceability and quality of products. SigNature® DNA describes the platform ingredient that 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. We are also engaged in the large-scale production of specific DNA sequences using the polymerase chain reaction.

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 14, 2015, and our subsequent quarterly report on Form 10-Q filed on February 10, 2016 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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