Applied DNA Sciences and Smiths Detection Sign Memorandum of Understanding to Provide Rapid Portable Forensic Testing for SigNature™ DNA
STONY BROOK, N.Y.--(BUSINESS WIRE)--Applied DNA Sciences (OTCBB: APDN) announced today that it has signed a memorandum of understanding (MOU) with Smiths Detection (Smiths), part of the global technology business of Smiths Group. Under the terms of the MOU, Smiths will provide APDN with exclusive use of the Bio-seeq™PLUS platform, centered upon a portable, DNA-verifying device for authentication, anti-counterfeiting and anti-diversion. When used in combination with APDN’s SigNature™ DNA markers, the Bio-seeq™PLUS will provide rapid forensic authentication in the field.
The BioSeeq™ platform was originally developed by Smiths for use by first responders to test for biological agents, where reliability and precision are essential. The Bio-seeq™PLUS is a new version of the system which uses LATE PCR (Linear After The Exponential PCR) a technique for detecting and analyzing small amounts of nucleic acid. Smiths hold an exclusive license to LATE PCR from Brandeis University. Bio-seeq™PLUS uses a system of disposable reagent cartridges, which allow use in the field with little technical training. The device is a handheld, fully field-portable PCR identifier that can provide results in as little as 20 minutes depending on the type of assay developed. It supports up to 6 independent simultaneous assays.
Dr. James Hayward, APDN President & CEO stated: “The Bio-seeq™PLUS rounds out our three-pronged offering for authenticating originality: nearly instantaneous optical screening, backed up by in-field forensic marker verification, and ultimately supported when required for legal reasons, by in-lab DNA sequencing. We are committed 100% to ensuring that products and documents that have our unique SigNature™ DNA markers can be quickly and forensically authenticated anywhere in the world. More than a deterrent, our SigNature™ marks will catch counterfeiters and enable effective prosecution by manufacturers and Intellectual Property owners.”
Stephen Phipson, Group Managing Director of Smiths Detection, said, “Smiths Detection’s growth strategy is focused on the provision of sophisticated detection systems in regulated markets and the enhancement of global security is a core element in that growth. Our collaboration with Applied DNA Sciences is an opportunity for us to explore new markets for the Bio-seeq™PLUS by protecting ownership, commerce and governments.” Bio-seeq™PLUS has the capability to generate rapid results and provide forensic-level identification of products.
“We are gratified by our partnership with Smiths Detection, who recognize our SigNature™ platform as a market leader,“ commented Dr. Hayward. The marketplace needs a device capable of automated field authentication with minimal training. We anticipate strong interest from governments who want to protect trade interests, from companies who have tired of counterfeiters stealing their sales, and from financial institutions who must verify the veracity of financial instruments. Revenue opportunities will stem from the sale of the device and the supply of consumables that contain reagents developed by APDN’s scientific team.”
About Smiths Detection
Smiths Detection is part of the global technology business Smiths Group. It offers advanced integrated security solutions for customers in civil and military markets worldwide and is a leading technology developer and manufacturer of sensors that detect and identify explosives, chemical and biological agents, weapons, and contraband. Its advanced technology security solutions also include Smiths Heimann x-ray imaging systems, millimeter-wave technology and a specialist software supply business for the management of large sensor and video surveillance networks. Separate business units focus on related products for the life sciences, and food manufacturing industries. For more information visit www.smithsdetection.com
About Smiths Group
Smiths is a global technology company, listed on the London Stock Exchange. Smiths Group is a world leader in the practical application of advanced technologies. Its products and services make the world safer, healthier and more productive. Smiths Group has three divisions focused on the high growth detection, medical devices, energy and communications markets. It employs more than 20,000 people in over 50 countries. For more information visit www.smiths.com
About Applied DNA Sciences, Inc.
Applied DNA Sciences markets and sells DNA encrypted and embedded solutions that are forensically authenticated by machine readable devices. These solutions can be easily integrated with a range of inks, threads, varnishes, adhesives as well as thermal ribbon, inkjet and laser ink. Applied DNA Sciences’ products can help protect the brands and intellectual property that can easily be eroded by counterfeiting, product diversion and fraud. Our common stock is registered under Section 12(g) of the Securities Exchange Act of 1934 and is listed on the Over-The-Counter Bulletin Board under the symbol "APDN".
The statements made by Applied DNA Sciences, Inc. 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 our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in Applied DNA Sciences’ SEC reports and filings, including our Registration Statement on Form S-1/A as amended, our Annual Report on Form 10-KSB, filed on January 15, 2008 and our subsequent quarterly reports on Form 10-QSB. 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.
