SOURCE: Applied DNA Sciences

Applied DNA Sciences

September 28, 2010 08:30 ET

Veteran Three-Star Vice Admiral Edward M. Straw Joins Forces With APDN

Supply Chain Expertise and Forensic ID Technology Come Together

STONY BROOK, NY--(Marketwire - September 28, 2010) -  Applied DNA Sciences, Inc. (OTCBB: APDN), a provider of DNA-based security solutions, is honored to announce a working partnership with Vice Admiral Edward M. Straw. Vice Admiral Straw enjoyed a distinguished career in the U.S. Navy where he held various leadership positions before becoming Director and CEO of the Defense Department's Defense Logistics Agency (DLA), the largest military logistics command supporting the U.S. Armed Forces (Army, Navy, Air Force and Marines). Vice Admiral Straw is known for his successful history of developing and managing large, complex and global logistics/supply chain operations in the military and private sector. Throughout his career, safeguarding against counterfeit products has been a common goal, but one for which there has not been a definitive solution.

"I have had the benefit of working with some outstanding organizations," stated Vice Admiral Straw. "While these agencies and companies span a wide range of disciplines, they share a remarkably similar supply chain foundation within which counterfeits and grey market diversion weigh heavily. Since my first meeting with Dr. Hayward and his team, I see daily situations that would benefit from the absolute solutions APDN offers. I am excited to help this team further commercialize their botanical DNA markers to stop counterfeits from penetrating genuine supply chains," continued Vice Admiral Straw.

A well-managed supply chain is of paramount importance in the battle against counterfeiting. Experts warn that fakes find their way into product shipment at any of the many stops a product makes on its way from the manufacturer to the end-user, such as: distributors, wholesalers, sub-assembly plants, warehouses, etc. Even more dangerous is the case of the military, where the last stop could be the battlefield. Separate studies this year by the Commerce Department and the Government Accountability Office concluded that the U.S. Armed Forces, which use chips in everything from communications and radar systems, to warplanes and missiles, are alarmingly vulnerable to fakes. 

"This alliance will allow us to leverage Admiral Straw's supply chain expertise," stated APDN President and CEO, Dr. James A. Hayward. "When combined with our ability to distinguish genuine products from counterfeits, his knowledge and relationships will solidify APDN's ability to achieve long-term growth goals and highlight the critical, forensic strength that will separate us from all other security firms."

Vice Admiral Straw is currently an Executive Vice President with PRTM Management Consultants, and has held senior executive level positions in many corporations including President of Global Operations for Estee Lauder, Senior Vice President, Global Manufacturing and Supply Chain Management at Compaq Computer Corporation (at the time, the world's largest computer company) and President of Ryder Integrated Logistics, Inc., then the leading provider of supply chain services in North America.

Vice Admiral Straw currently serves on the Board of Directors for the MeadWestvaco Corporation, Panther Expedited Services, Inc., Performance Equity Management, LLC, and is the Chairman of the Board of Odyssey Logistics & Technology, and Document Capture Technologies.

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, and provide a forensic chain of evidence that can be used to prosecute perpetrators. To learn more, go to where APDN routinely posts all press releases.

The statements made by APDN may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform 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 23, 2009 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.

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