The announcement was made by Daniel Lieberman, president and chief executive officer of Holomex, and Peter Brocklesby, president of Applied DNA Sciences. Holomex has produced security holograms to prevent counterfeiting for 20 years. The company has an extensive client base in the packaging, pharmaceuticals, electronics, consumer products, cosmetics, liquor, food and beverages industries, and with governments to protect currency, government checks, I.D.s, credit cards, passports and other documentation from forgery.
Applied DNA Sciences extracts and recombines botanical DNA codes to create a virtually foolproof method to prove product authenticity, detect fakes and protect supply chain integrity. The technology provides overt and covert protection for corporations, governments and consumers against counterfeiting, fraud, theft, piracy, product diversion and adulteration, identity theft and unauthorized intrusion into secure facilities and databases. The Chinese Government will use this DNA technology to place DNA-secured holographic labels on 500 million DVDs.
Lieberman said, "The fail-safe anti-counterfeiting technology of Applied DNA Sciences, combined with our state-of-the-art holograms, provides an impregnable layer of security for our customers. The new DNA-Holograms will be available by January 2005, when the two companies will jointly market the products to clients worldwide. Together, we provide levels of brand protection and safety never previously available."
Brocklesby pointed out that, "The combination of DNA and Holography creates powerful new security technology to protect a wide range of industries. For example, the pharmaceutical industry produces billions of packages annually. Losses to the pharmaceutical industry alone, incurred as a result of product counterfeiting and adulteration, are reported to exceed 15 billion US dollars annually, according to Reconnaissance International. Our new technologies detect, deter and prevent that loss and improve safety for consumers. A DNA-Hologram combined with RFID antenna/label technology will create a new generation of secure packaging which also contains inventory control and supply chain protection features. Increased security, greater product safety, improved supply chain management and sophisticated inventory control are the benefits that the new products developed by Holomex and Applied DNA Sciences will deliver to pharmaceutical manufacturers and other industries worldwide. The Hologram industry grew to $1.2 billion in sales, between 1998 and 2003. DNA-Holographic-RFID product/security is a new horizon with enormous potential. The combination of these technologies in a single low-cost product is available only from Holomex and Applied DNA Sciences."
Lieberman concluded, "The strategic combination of DNA-Hologram technologies and RFID, available from Holomex and Applied DNA Sciences in a single device, opens major new opportunities for the packaging industry, increased protection for brands and greater safety for consumers. We are in active discussions with several of the largest firms in the packaging industry and our new products are receiving an extremely positive reception."
About Applied DNA Sciences, Inc.
Applied DNA Sciences, Inc. provides proprietary DNA-embedded biotechnology security solutions, using botanical DNA, to verify authenticity and protect corporate and government agencies from counterfeiting, fraud, piracy, product diversion, identity theft and unauthorized intrusion. Applied DNA Sciences has an exclusive licensing and partnership agreement covering North America, Latin America, Europe and the Mid-East with Biowell Technology, Inc. (http://www.biowell.com.tw/eng) of Taiwan. The company develops, markets, and sub-licenses DNA security systems, supply-chain management systems and anti-counterfeit solutions. Applied DNA Sciences' technology addresses the more than $350 billion of counterfeit products sold each year as well as the multi-billion dollar Homeland Security market. The company is headquartered at 9229 West Sunset Boulevard, Los Angeles, CA 90069; Tel: 310.860.1362; Fax: 310.860.1303 or visit www.ADNAS.com.
The statements made by Applied DNA Sciences, Inc. (the Company) 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 the Company'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 Applied DNA Sciences, Inc. Actual results could differ materially from those projected due to changes in interest rates, market competition, changes in the local and national economies, and various other factors. The Company 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.