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Applied DNA Sciences Signs Global Luxury Brand Agreement
Will Supply DNA Markers and Authentication for Luxury Brands
| Quelle: Applied DNA Sciences, Inc.
STONY BROOK, NY--(Marketwire - January 7, 2010) - Applied DNA Sciences (OTCBB : APDN )
announced that it has signed an exclusive Supply Agreement with a renowned
luxury brand with global distribution, headquartered in Europe. In the
Agreement, APDN has committed to supply the Company with proprietary DNA
Authentication Marks exclusively for the brand-owner's customers. APDN
will receive a fee for each unique Authentication Mark purchased, with
additional fees paid to APDN for authentications. In exchange for exclusive
rights in the specified field, the brand-owner has agreed to minimum-volume
purchases for each year of the Agreement.
The initial term of the agreement is for five years. APDN's DNA
Authentication Marks will be used to mark unique luxury goods and link them
to specific owners. On signing of the Agreement, APDN received purchase
orders for multiple DNA Authentication Marks. These purchase orders have
already been filled and shipped back to the brand-owner.
"Premier brands are using DNA both to protect their brand and to offer
customized products for individual customers. Proof of authenticity is a
central tenet of brand integrity, and there is no better proof than DNA. We
were approached by this brand-owner, interested in providing a unique means
of protection for their customers, and we were able to quickly turn this
inquiry into a working agreement," commented Dr. James Hayward, President
and CEO of APDN. "The DNA Authentication Marks were prepared and shipped
within ten business days of receiving the initial orders, showing once
again the agility of APDN in responding to the needs of its customers."
About Applied DNA Sciences, Inc.
APDN sells patented DNA security solutions to protect products, brands and
intellectual property from counterfeiting and diversion. SigNature DNA is a
botanical mark used to authenticate products in a unique manner that
essentially cannot be copied. APDN also provides BioMaterial GenoTyping by
detecting genomic DNA in natural materials to authenticate finished
products. Both technologies protect brands and products in a wide range of
industries and provide a forensic chain of evidence that can be used to
prosecute perpetrators. To learn more, go to www.adnas.com where APDN
routinely posts all press releases.
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-K, filed on December 23, 2009 and
our subsequent quarterly reports on Form 10-Q. 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.