Applied DNA Awarded NYC-Based ‘Return-to-Office’

Rhea-AI Summary

Applied DNA Sciences (NASDAQ: APDN) has secured a safeCircle™ health services contract with a New York City investment firm for PCR-based COVID-19 testing. Starting in April 2022, the contract includes testing services for employees returning to in-person work. The safeCircle platform offers a comprehensive health testing solution, managing sample distribution, results reporting, and variant tracking. Mike Munzer from Applied DNA emphasized the importance of managing COVID-19 exposure as companies transition back to the office environment.

Positive

• Secured a health services contract for COVID-19 testing.
• The safeCircle platform offers a comprehensive suite of services for health management.
• Services are set to begin in April 2022, indicating immediate revenue potential.

Negative

• Contract terms were not disclosed, leaving uncertainty about financial impact.
• Dependence on continued need for COVID-19 testing services may impact long-term revenue sustainability.

Health Services Contract

STONY BROOK, N.Y.--(BUSINESS WIRE)-- Applied DNA Sciences, Inc. (NASDAQ: APDN) (the “Company”), a leader in cell-free, enzymatic DNA production, announced today that its wholly-owned clinical laboratory subsidiary, Applied DNA Clinical Labs, LLC (ADCL), has been awarded a safeCircle™ health services contract from a New York City-based investment management firm. Contract terms were not disclosed. The contract provides for PCR-based COVID-19 testing and associated services for employees of the client who are returning to in-person work, with services slated to begin in April 2022. safeCircle is a fully integrated health testing platform that offers a customized suite of services to institutions and their personnel/members that encompasses: program design, RT-PCR and rapid antigen testing, sample kit distribution and collection, test site management, results reporting to individuals and program administrators, facilities access management, variant tracking, and vaccination documentation management.

“After two years of remote work amid the COVID-19 pandemic, corporations are moving to resume in-person work supported by workforce health policies prioritizing health, safety, and wellbeing. As mask mandates expire, safeCircle can help manage workers’ increased risk of exposure. We believe that managing the spread of current and any future COVID-19 variants through testing even in an era of vaccine availability remains critical if offices are once again to be destinations for collaboration and connection,” stated Mike Munzer, executive director of Diagnostic Sales at Applied DNA. “safeCircle is a rapidly deployed, integrated, and cost-effective testing platform that can accommodate companies’ unique return-to-work policies to help mitigate exposure and give employees and employers peace of mind.”

To learn more about safeCircle™: click here

About Applied DNA Sciences

Applied DNA is commercializing LinearDNA™, its proprietary, large-scale polymerase chain reaction ("PCR")-based manufacturing platform that allows for the large-scale cell-free production of specific DNA sequences.

The LinearDNA platform has utility in the nucleic acid-based in vitro diagnostics and preclinical nucleic acid-based drug development and manufacturing market. The platform is used to manufacture DNA for customers as components of in vitro diagnostic tests and for preclinical nucleic acid-based drug development in the fields of adoptive cell therapies (CAR T and TCR T therapies), DNA vaccines (anti-viral and cancer), RNA therapies, clustered regularly interspaced short palindromic repeats (CRISPR) based therapies, and gene therapies.

The LinearDNA platform also has non-biologic applications, such as supply chain security, anti-counterfeiting and anti-theft technology. Key end-markets include textiles, pharmaceuticals and nutraceuticals, among others.

Leveraging its deep expertise in nucleic acid-based technologies, the Company has also established safeCircle™, a high- turnkey solution for population-scale COVID-19 testing. safeCircle is designed to look for infection within defined populations or communities utilizing high throughput testing methodologies that increase testing efficiencies and provide for rapid turn-around-times.

Visit adnas.com for more information. Follow us on Twitter and LinkedIn. Join our mailing list.

The Company's common stock is listed on NASDAQ under the ticker symbol 'APDN,' and its publicly traded warrants are listed on OTC under the ticker symbol 'APPDW.'

Applied DNA is a member of the Russell Microcap® Index.

Forward-Looking Statements

The statements made by Applied DNA in this press release may be "forward-looking" in nature within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform 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 Applied DNA. Actual results could differ materially from those projected due to its history of net losses, limited financial resources, limited market acceptance, the possibility that Applied DNA's assay kits or testing services could become obsolete or have their utility diminished and the unknown amount of revenues and profits that will results from Applied DNA's testing contracts. Further, the uncertainties inherent in research and development, future data and analysis, including whether any of Applied DNA's or its partner's future diagnostic candidates will advance further in the research process or receiving authorization, clearance or approval from the FDA, equivalent foreign regulatory agencies and/or the New York State Department of Health (NYSDOH), and whether and when, if at all, they will receive final authorization, clearance or approval from the FDA, equivalent foreign regulatory agencies and/or NYSDOH, the unknown outcome of any applications or requests to FDA, equivalent foreign regulatory agencies and/or the NYSDOH, the unknown limited duration of any EUAs from the FDA, changes in guidance promulgated by the CDC, FDA, CMS an/or NYSDOH relating to COVID-19 testing, disruptions in the supply of raw materials and supplies, continued mutations of the SARS-CoV-2 virus, shifting review priorities of FDA for COVID-19 EUA requests and when, if at all, any EUA request will be reviewed by FDA, 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 9, 2021, its Quarterly Report on Form 10-Q filed on February 10, 2022 and other reports we file with the SEC, 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 or to reflect the occurrence of unanticipated events, unless otherwise required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220406005123/en/

Investor Relations: Sanjay M. Hurry, 917-733-5573, sanjay.hurry@adnas.com

Program: Mike Munzer, 631-240-8814, mike.munzer@adnas.com

Web: www.adnas.com

Twitter: @APDN

Source: Applied DNA Sciences, Inc

FAQ

What is the recent contract awarded to Applied DNA Sciences regarding COVID-19 testing?

Applied DNA Sciences secured a safeCircle health services contract for PCR-based COVID-19 testing for a New York City investment firm.

When will the services from the safeCircle health services contract begin?

The services are scheduled to begin in April 2022.

What are the key components of the safeCircle health services platform?

The safeCircle platform includes program design, testing, sample management, results reporting, and variant tracking.

How does the award of the contract impact Applied DNA Sciences (APDN)?

The contract may provide immediate revenue potential, but its undisclosed terms create uncertainty regarding the financial impact.