STONY BROOK, NY--(Marketwire - September 18, 2012) - 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 entered into a Development Agreement with Inventionland Corporation. The two companies will collaborate on the development of innovative loss-prevention products, based upon APDN's botanical DNA-marking platform. Inventionland will participate in product development with APDN and take the resultant new products and applications to its customers.
The agreement between APDN and Inventionland follows closely the launch by APDN of smartDNA®, a system designed to mark offenders and to prevent theft. The system has been deployed internationally to protect banks, retailers, jewelers and pharmacies. APDN also launched its digitalDNA platform this year that combines DNA-based security with secure-cloud technology, mobile computing and authentication on-the-fly.
Inventionland Corporation (www.Inventionland.com) is America's largest invention factory. Over 1,000 different retailers and on-line stores have sold its innovations. Inventionland builds 2,000-2,400 new product samples for corporations and retailers to review for their shelves each year. With some retailers facing large asset loss from their stores, Inventionland was asked to invent new products to help eliminate loss in a more innovative and effective manner. Inventionland's founder, George Davison, is an APDN stockholder. After Mr. Davison contacted APDN, both organizations began collaborating to offer a retailer solution that would help eliminate asset loss.
Mr. Davison, renowned for his novel approaches to product development, and himself the subject of a profile on the U.S. cable TV channel History (formerly The History Channel), stated: "I was a long-standing fan of Applied DNA Sciences' novel technology and enormous breadth of application, as well as Dr. Hayward's already-validated approach to managing biotechnology development. Inventionland is now pleased to be able to take this platform to our market-leading retailers."
Dr. Hayward commented: "Biotech companies can benefit from Inventionland's innovative approach and unmatchable speed-to-market. We are thrilled to partner with Inventionland on some very original and unique applications for DNA marking."
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 8, 2011 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.
Inventionland (http://www.inventionland.com) is America's largest invention factory, Inventionland, turns out 2,000-2,400 new inventions each year. Employees at Inventionland work in 16 unique themed sets, such as a shipwrecked pirate ship, a faux cave, a giant robot and a castle complete with turrets and drawbridge. The inspiring setting includes three running waterfalls, life-like trees and butterflies and chirping birds. In the rear of Inventionland is a red carpet that leads to a state-of-the art audio, video, and animation studio complete with sound room and one of the largest green screens in the tri-state area. Metalworking, woodworking, molding, laser cutting, prototyping, circuit board construction, and more take place in a state-of-the-art product sample construction facility. Hundreds of new ideas come to life every month at Inventionland, where Davison's award-winning team sets an example of America's can-do spirit and ingenuity.