STONY BROOK, N.Y.--(BUSINESS WIRE)--Applied DNA Sciences, Inc. (NASDAQ: APDN; “Applied DNA”, “the Company”), today announced the renewal of their contract to provide SigNature® DNA via Safesolution SmartDNA AB, its Swedish Distributor, to a prestige German car manufacturer to prevent vehicle theft.
This announcement builds on the success of our previous contract, which proved highly effective in preventing vehicle theft of marked vehicles, and aiding in the recovery and identification of stolen parts. The continuation of the program will ensure new vehicles imported into Sweden will be protected.
As part of the program, high value components for all of the manufacturer’s new cars are tagged with SigNature DNA (known as Smart DNA® in Sweden) as they enter the country. Each vehicle is tagged with a unique molecular code, enabling police to trace stolen vehicles and components back to the original owner. The program aims to keep insurance costs low for car owners and to protect cars from criminals.
Tagging vehicles with SmartDNA has proved to be a powerful tool for police. In the previous two years, DNA tagging has helped police in a number of countries to gather forensic evidence and intelligence on criminal networks.
“We are also working to deliver further value with our data analytical capability to assist stakeholders in the reduction of vehicle crime including vehicle owners, manufacturers, insurers and law enforcement. This will add to the already powerful deterrence value of SmartDNA,” said Tony Benson, Managing Director of Applied DNA Sciences Europe.
Safesolution SmartDNA AB has been Applied DNA’s Swedish distributor for the last 7 years. “The Prestige German Car Manufacturer is a very demanding client who requires the very highest service offerings for their customers. It is a great pleasure to work with them and we are delighted to have been given the opportunity to continue to build our relationship. We plan to continually improve and enhance our service offerings to exceed their expectations,” commented Leif Svensson, Founder and Chairman of Safesolution SmartDNA AB.
SigNature DNA has been used in Europe since 2008 to deter crime and convict criminals. To date, SigNature DNA evidence has been used in conviction of over 115 criminals, leading to more than 540 years of prison time. Many more cases are still pending.
About Applied DNA Sciences
Applied DNA is a provider of molecular technologies that enable supply chain security, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics and therapeutics.
We make 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, test, and track products, to help assure authenticity, origin, traceability, sustainability and quality of products.
SigNature® DNA describes the core technology ingredient that is at the heart of a family of uncopiable, 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.
The Company’s common stock is listed on NASDAQ under the symbol APDN, and its warrants are listed under the symbol APDNW.
The statements made by Applied DNA 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 Applied DNA’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 Applied DNA’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, May 11, 2017, and August 10, 2017 which are available at www.sec.gov. Applied DNA 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.