Post by marriott on Jun 6, 2017 22:43:13 GMT
Applied DNA Wins Two-Year, $1.5 Million Competitive Development Contract from the Office of the Secretary of Defense
Award Expands Current Platforms to Improve DoD Counterfeit Risk Mitigation
STONY BROOK, N.Y. June 6, 2017 - Applied DNA Sciences, Inc. ("Applied DNA," "the company," NASDAQ: APDN), a provider of DNA-based supply chain, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics and therapeutics, announced that it has been awarded a two-year, approximately $1.5 million competitive-bid development contract. The award, funded by the Office of the Secretary of Defense on behalf of the Defense Logistics Agency (DLA), runs from June 1, 2017 to May 31 2019, and was granted via a Rapid Innovation Fund (RIF) that provides DLA with innovative technologies that can be rapidly inserted into acquisition programs to meet specific defense needs. Management oversight for this RIF contract will be from DLA HQ located in Fort Belvoir, Virginia.
Applied DNA is already contracted by DLA to supply the company's SigNature® DNA to protect the supply chains of high-risk FSC 5962 microcircuits that are frequently counterfeited leading to enhanced risk of cyberattacks.
Dr. James Hayward, President and CEO of Applied DNA, stated: "Our scalable platform for securing the supply chains of large commercial ecosystems, using inalterable molecular "certificates" and data capture that can be assessed by permissioned partners, is perfectly suited to keep systems as large and diverse as the US DoD secure from the risk of malevolent copies."
This firm-fixed price contract follows a prior RIF contract that enabled Applied DNA to develop counterfeit mitigation technologies based upon its proprietary DNA platforms, that protect plastics, silicone elastomers, oils, bearings, fasteners and many other high-risk commodities that are procured by DLA on behalf of DoD. This contract will extend the company's authentication platform to facilitate broader use in protecting high-risk or mission-critical material purchased by DLA.
Said Janice Meraglia, Vice President of Military and Government Projects: "It is an honor to work with DLA as it embraces innovative solutions to proactively address supply chain challenges. Our working relationship with DoD and non-DoD federal agencies, as well as diverse industry partners, provides us with unique insight for agile support."
Award Expands Current Platforms to Improve DoD Counterfeit Risk Mitigation
STONY BROOK, N.Y. June 6, 2017 - Applied DNA Sciences, Inc. ("Applied DNA," "the company," NASDAQ: APDN), a provider of DNA-based supply chain, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics and therapeutics, announced that it has been awarded a two-year, approximately $1.5 million competitive-bid development contract. The award, funded by the Office of the Secretary of Defense on behalf of the Defense Logistics Agency (DLA), runs from June 1, 2017 to May 31 2019, and was granted via a Rapid Innovation Fund (RIF) that provides DLA with innovative technologies that can be rapidly inserted into acquisition programs to meet specific defense needs. Management oversight for this RIF contract will be from DLA HQ located in Fort Belvoir, Virginia.
Applied DNA is already contracted by DLA to supply the company's SigNature® DNA to protect the supply chains of high-risk FSC 5962 microcircuits that are frequently counterfeited leading to enhanced risk of cyberattacks.
Dr. James Hayward, President and CEO of Applied DNA, stated: "Our scalable platform for securing the supply chains of large commercial ecosystems, using inalterable molecular "certificates" and data capture that can be assessed by permissioned partners, is perfectly suited to keep systems as large and diverse as the US DoD secure from the risk of malevolent copies."
This firm-fixed price contract follows a prior RIF contract that enabled Applied DNA to develop counterfeit mitigation technologies based upon its proprietary DNA platforms, that protect plastics, silicone elastomers, oils, bearings, fasteners and many other high-risk commodities that are procured by DLA on behalf of DoD. This contract will extend the company's authentication platform to facilitate broader use in protecting high-risk or mission-critical material purchased by DLA.
Said Janice Meraglia, Vice President of Military and Government Projects: "It is an honor to work with DLA as it embraces innovative solutions to proactively address supply chain challenges. Our working relationship with DoD and non-DoD federal agencies, as well as diverse industry partners, provides us with unique insight for agile support."