STONY BROOK, NY (PRWEB) April 03, 2014
Applied DNA Sciences, Inc. (OTCQB: APDN), (Twitter: @APDN), an industrial biotech firm that provides DNA-based authentication and security solutions, announced today that on March 31, 2014, APDN and a provider of polyolefins signed a term sheet for mutual development and cooperation regarding the supply of markers – and related additives - for polyolefin products. Today’s global polyolefin market has a size of about 140 billion kilograms per year.
The cooperation between the parties will explore and test the feasibility of the project. The contract provides for initial payments to APDN, comprised of development and exclusivity fees. The payment of further installments is dependent on achieving specific performance goals over a defined period of less than one year.
About Applied DNA Sciences
APDN is a provider of botanical-DNA based security and authentication solutions that can help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA describes the uncopyable marker that is at the heart of all of our security and authentication solutions. SigNature DNA is at the core of a family of products such as DNAnet®, our antitheft product, and digitalDNA®, providing powerful track and trace. All 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, 2013 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.