STONY BROOK, NY--(Marketwired - April 23, 2013) - Applied DNA Sciences, Inc. (OTCBB: APDN), (Twitter: @APDN), a provider of DNA-based anti-counterfeiting technology and product authentication solutions, announced today that it has been awarded a Phase I research grant by the United States Missile Defense Agency (MDA) for approximately $150,000, for advanced development of APDN's anti-counterfeiting platform for military electronics.
The award, granted by the MDA Small Business Innovative Research program (SBIR), aims to develop advanced and innovative methods of placing markings or coatings onto original parts at the time of manufacture, to enable customers at later stages in the supply chain to confirm that the component is authentic.
The project expands on, but is separate from the research and testing supported by the Defense Logistics Agency, a project which prepared the platform now required by DLA for all items in a class of electronics provided by contractors to the agency.
Dr. James A. Hayward, President and CEO of Applied DNA Sciences, commented:
"The SBIR research award from the Missile Defense Agency is another highly important sign that our company's technology has awakened widespread interest in the military and its suppliers. It builds on the momentum of the ongoing requirement by the Defense Logistics Agency (DLA) which requires use of our product by trusted suppliers to DLA. The research for MDA will aid our ongoing work in expanding the range of applications of SigNature® DNA, further compressing the time used to mark and authenticate items, and opening up the ability to use still more and varied carriers for our mark."
The award is a Phase I (feasibility) grant, typically followed by a competition for Phase II (implementation) and Phase III (commercialization) grants. Said Dr. Hayward: "We are optimistic that we will be able to take this research project through implementation and move to the commercialization stage."
The MDA Small Business Innovative Research program distributes over $1 billion annually, in order to harness the creativity of smaller businesses in the service of its unmatched technological platform, and in defense of the country.
Approved for Public Release
13-MDA-7255 (19 April 13)
About Applied DNA Sciences
APDN is a provider of botanical-DNA based security and authentication solutions that can help protect products, brands and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA and smartDNA™, our principal anti-counterfeiting and product authentication solutions that essentially cannot be copied, provide a forensic chain of evidence and can be used to prosecute perpetrators.
The statements made by APDN may be forward-looking in nature. 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 20, 2012, 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.