Applied DNA Sciences Ramps Up Production, Ships Additional DermalRx Order; Scheduled to Present at Annual Health and Beauty Association Meeting March 4 in New York City
STONY BROOK, N.Y.--(BUSINESS WIRE)--Applied DNA Sciences, Inc. (OTC Bulletin Board: APDN), a provider of DNA-based security solutions, today announced that it has begun to ramp up production and has shipped another order for DermalRx™. DermalRx™, an ingredient used to promote exfoliation without any of the negative effects (irritation or inflammation) associated with chemical peeling, is being developed for use in a new skin care product for a top selling label of a large multinational company. It is anticipated that one additional order for pilot development and evaluation will be required prior to commercialization. This product is expected to be launched before the end of 2008.
“This order highlights our continued commitment to the ingredients business as a viable means of generating income for the company,” commented Dr. James A. Hayward, President and CEO of Applied DNA Sciences. “The management team has demonstrated its ability to succeed in this area in the past, and we will continue to develop this business along with our SigNature™ DNA and Fibertyping™ businesses. This will enable us to build a strong company better able to weather the different sales cycles of these industries.”
Applied DNA Sciences will be presenting and exhibiting at the Annual Health and Beauty Association Meeting in New York City March 4, 2008. This meeting, which takes place at the Jacob Javits Center, brings together decision makers from the cosmetic, fragrance and personal care industries and is renowned for providing cutting edge information to the industry. Dr. Hayward’s talk, scheduled for 10:20 a.m. and titled “DNA Technology Derived from Plants: Proving Authenticity, Product Integrity and Foiling Counterfeits,” will introduce our SigNature™ DNA to this important market.
Counterfeit cosmetics, estimated to be a $3 billion market, can seriously damage the health of consumers. Diversion is an equally daunting problem for cosmetics manufacturers where many brands rely on the cache of their name to sell products. Counterfeit or diverted products can tarnish the image of the brand, often making it difficult to repair. The benefit of forensic authentication is that it can assist in tracking product and ultimately in the criminal prosecution of the offending parties. Using SigNature™ DNA to mark products can significantly reduce the risk of counterfeiting and diversion. SigNature™ DNA marked products are currently in use by an international chemical manufacturer to help protect the authenticity of a key ingredient used in skin and hair care products.
“It gives me great pleasure to be a part of a company that works to protect the intellectual property and brand identity of companies and the health and safety of their customers,” commented Dr. Hayward. “I look forward to sharing our knowledge and experience to date and offering solutions to these industry leaders in their daily battle against counterfeiting and diversion.”
About Applied DNA Sciences, Inc.
Applied DNA Sciences, Inc. provides botanical DNA encryption, embedment and authentication solutions that can help protect companies, governments and consumers from counterfeiting, fraud, piracy, product diversion, identity theft and unauthorized intrusion into physical locations and databases. APDN’s common stock is listed on the Over-The-Counter Bulletin Board under the symbol "APDN."
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-KSB, filed on January 15, 2008 and our subsequent quarterly reports on Form 10-QSB. 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.