Applied DNA Signs New Contract with U.S. Defense Logistics Agency
Applied DNA Sciences (NASDAQ: APDN) has secured a new firm fixed-price indefinite delivery contract valued at up to $1.04 million with the Defense Logistics Agency’s Product Test Center in Columbus, Ohio. This contract aims to support the DLA's counterfeit mitigation efforts by providing unique DNA marking services and quality control testing. This collaboration builds on their long-standing partnership since 2014, ensuring the integrity of products in critical sectors.
- New contract with DLA valued at up to $1.04 million enhances revenue potential.
- Continues a long-term partnership since 2014, reinforcing customer relationships.
- Focus on counterfeit mitigation supports growth in critical government sectors.
- None.
Applied DNA Sciences, Inc. (NASDAQ: APDN) (Applied DNA or the “Company”), a leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing, today announced it has entered into a new contract with the Defense Logistics Agency’s (DLA) Land and Maritime’s Product Test Center (PTC) in Columbus, Ohio. The firm fixed-price, indefinite delivery contract (IDC) provides for a maximal contract value to the Company of
“This new contract enables DLA to maintain continuity of services at the PTC in service of the nation’s warfighting capabilities and further reinforces the application of our forensic DNA mark as a secure, high-resolution taggant to track provenance and ensure authenticity,” said, Judy Murrah, chief operating officer, Applied DNA.
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 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 therapies), DNA vaccines (anti-viral and cancer), RNA therapies, clustered regularly interspaced short palindromic repeats (CRISPR) based therapies, and gene therapies. Applied DNA has also established a COVID-19 diagnostic and testing offering that is in the early stages of commercialization and is grounded in the Company’s deep expertise in DNA.
The LinearDNA platform also has non-biologic applications, such as supply chain security, anti-counterfeiting and anti-theft technology. Key end-markets include Gov/Mil, textiles, pharmaceuticals and nutraceuticals, and cannabis, among others.
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The Company’s common stock is listed on NASDAQ under ticker symbol ‘APDN,’ and its publicly traded warrants are listed on OTC under 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 resou
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