Project Aims to Scale-Up Commercial Platform for DNA Marking of Bearings
STONY BROOK, N.Y. -- (Business Wire)
Applied
DNA Sciences, Inc. ("Applied DNA," "the company," NASDAQ:APDN), is
commencing production-scale DNA marking of bearings with a global leader
in the manufacture of bearings, at a domestic manufacturing facility.
The work will be performed under the newly awarded Rapid Innovation Fund
(RIF) contract issued by the Office of the Secretary of Defense (OSD) on
behalf of the Defense Logistics Agency (DLA), and reflects Applied DNA’s
efforts to commercialize processes and methodologies developed for the
Department of Defense and apply them to commercial OEMs.
This production-scale project is a follow-up to successful pilot
conducted under Applied DNA’s prior OSD RIF contract, completed in
August of 2016. Through collaborative efforts led by the R&D team of the
US-based bearing manufacturer, along with DLA Aviation’s subject matter
experts from Richmond, VA, Applied DNA scientists tested and qualified
blending SigNature® DNA into preservative lubricants used in the
manufacturing of bearings. This innovative solution for DNA marking of
bearings should provide little to no impact on the manufacturing
process, which will be confirmed in the initial phase of production
testing.
The immediate goal of the project is to assist in securing the
Department of Defense supply chain, but Applied DNA believes the
platform can easily be leveraged by commercial stakeholders, globally.
Preservative lubricants are used in wide-ranging industrial
applications, tool manufacturing, pneumatic equipment and small arms.
Bob MacDowell, Applied DNA Director, Government and Military Program
Sales commented, “Our DNA-based solutions provide significant value in
many different applications, allowing traceability to source along a
supply chain. The most effective deployment of the DNA is at the point
of manufacture, which creates the broadest platform possible and enables
all stakeholders to benefit from the solution.”
“Agriculture, industrial equipment and the automotive industry are all
focus markets for the bearings industry at large, which align well with
Applied DNA’s roadmap for current markets to penetrate. We are hopeful
the success of this production project, will secure DLA’s bearing supply
chain, and lead to larger opportunities in additional markets where both
the bearing manufacturer and their customers can mutually benefit,”
stated Dr. James Hayward, president and CEO of Applied DNA.
The aerospace bearings market was valued at $7.88 billion in 2016 and is
projected to reach $11.19 billion by 20221. The overall
global market for bearings, currently valued at greater than $84
billion, is projected to grow by 67 percent to $140 billion by 20222.
1. http://www.marketsandmarkets.com/Market-Reports/aerospace-bearing-market-191707655.html
2. https://www.alliedmarketresearch.com/bearings-market
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 uncopyable, 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.
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The Company’s common stock is listed on NASDAQ under the symbol APDN,
and its warrants are listed under the symbol APDNW.
Forward Looking Statements
The statements made by APDN 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 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 6, 2016, and our subsequent quarterly reports on Form
10-Q filed on February 9, 2017, and May 11, 2017 which are available at www.sec.gov.
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, unless
otherwise required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170810005129/en/
Contacts:
Investors:
LHA Investor Relations
Sanjay Hurry, 212-838-3777
shurry@lhai.com
or
Media:
Dian
Griesel Int’l
Susan Forman, 212-825-3210
sforman@dgicomm.com
or
Program:
Applied
DNA Sciences
Bob MacDowell, 631-240-8823
bob.macdowell@adnas.com
web:
www.adnas.com
twitter:
@APDN
Source: Applied DNA Sciences, Inc.
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