STONY BROOK, N.Y.--(BUSINESS WIRE)--Applied DNA Sciences, Inc. (“Applied DNA,” “the company,” NASDAQ:APDN), a provider of DNA-based supply chain, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics and therapeutics, announced that it has been awarded a two-year, approximately $1.5 million competitive-bid development contract. The award, funded by the Office of the Secretary of Defense on behalf of the Defense Logistics Agency (DLA), runs from June 1, 2017 to May 31 2019, and was granted via a Rapid Innovation Fund (RIF) that provides DLA with innovative technologies that can be rapidly inserted into acquisition programs to meet specific defense needs. Management oversight for this RIF contract will be from DLA HQ located in Fort Belvoir, Virginia.
Applied DNA is already contracted by DLA to supply the company’s SigNature® DNA to protect the supply chains of high-risk FSC 5962 microcircuits that are frequently counterfeited leading to enhanced risk of cyberattacks.
Dr. James Hayward, President and CEO of Applied DNA, stated: “Our scalable platform for securing the supply chains of large commercial ecosystems, using inalterable molecular 'certificates' and data capture that can be assessed by permissioned partners, is perfectly suited to keep systems as large and diverse as the US DoD secure from the risk of malevolent copies.”
This firm-fixed price contract follows a prior RIF contract that enabled Applied DNA to develop counterfeit mitigation technologies based upon its proprietary DNA platforms, that protect plastics, silicone elastomers, oils, bearings, fasteners and many other high-risk commodities that are procured by DLA on behalf of DoD. This contract will extend the company’s authentication platform to facilitate broader use in protecting high-risk or mission-critical material purchased by DLA.
Said Janice Meraglia, Vice President of Military and Government Projects: “It is an honor to work with DLA as it embraces innovative solutions to proactively address supply chain challenges. Our working relationship with DoD and non-DoD federal agencies, as well as diverse industry partners, provides us with unique insight for agile support.”
About Applied DNA Sciences
Applied DNA Sciences makes life real and safe by providing innovative, molecular-based technology 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. The proprietary DNA-based “CertainT™” platform can be used to identify, tag, track, and trace products, to help assure authenticity, origin, traceability and quality of products. SigNature® DNA describes the core technology 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, BackTrac™ and 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. Applied DNA Sciences is 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.
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, and our subsequent quarterly reports on Form 10-Q filed on February 9, 2017, and May 11, 2017 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.