STONY BROOK, NY--(Marketwired - Sep 12, 2013) - Applied DNA Sciences, Inc. (OTCBB: APDN), (Twitter: @APDN), a provider of DNA-based anti-counterfeiting technology and product authentication solutions, announced today that it has signed an agreement with L-3 Power Paragon, a subsidiary of L-3 Communications, for the use of SigNature DNA marking technology to proactively protect against counterfeit electronic parts. L-3 Power Paragon supplies microcircuits in the category FSC 5962 to the U.S. Defense Logistics Agency (DLA), and so becomes "SigNature DNA Compliant," playing an important role in the DLA effort to prevent counterfeit electronics.
Twenty-one electronics companies have now signed agreements, and most are actively SigNature DNA-marking their parts supplied to DLA. Thirty-four more are in serious negotiations, both categories together comprising a pipeline of 53 companies for the program. APDN has also revealed its Technology Roadmap, showing its support for delivery to electronics and aerospace businesses of any size, including those impacted by the anti-counterfeiting language in the National Defense Authorization Acts (NDAA) of Fiscal Years 2012 and 2013. The presence of prime contractors on this list, company officials said, is a special indicator of forward progress, since it is in the interest of primes to encourage their own suppliers to mark with SigNature DNA, a process known as flowing down requirements.
L-3 Power Paragon supplies power systems for defense, governmental and advanced industrial applications. It is a prime contractor for the U.S. Department of Defense (DoD) and numerous other government and commercial end users. The company's technology is virtually the "service standard" for the U.S. Navy, while also delivering innovative airborne products. Many of its systems are intensively dependent on precision electronics.
"We are proud to have this smart and effective company as a business partner," stated Dr. James A. Hayward, CEO and President of APDN. "APDN believes that its SigNature DNA customers, such as L-3 Power Paragon, will be greatly helped along the road to compliance with the NDAA anti-counterfeiting legislation. We are confident that this agreement marks the beginning of a long, productive partnership with L-3 Power Paragon in the efforts by DLA and our company against counterfeits."
"We are delighted that L-3 Power Paragon, as an advanced technology prime contractor, has lent its support and prestige to the DLA effort to protect our warfighters from the plague of counterfeit electronic parts," said Janice Meraglia, Vice-President of Government and Military Programs at APDN. "We are sure that its military, national security and other end users will benefit, and are confident that other primes will be encouraged to also join the effort."
"L-3 Power Paragon is known for both the excellence and importance of its power products," said Bob MacDowell, Senior Account Manager for Government and Military Programs at APDN. "We look forward to working with L-3 Power Paragon and DLA to become even more proactive in our joint efforts."
"L-3 Power Paragon is committed to going the extra mile to support our warfighters from any risk of counterfeit parts, and we look forward to working with DLA to become more proactive in this effort," said Scott Utka, Director of Materials at L-3 Power Paragon.
About L-3 Power Paragon
L-3 Power Paragon is a worldwide leader in the engineering, development, manufacture and integration of power conversion and distribution systems for defense, governmental and advanced industrial applications. The company's power conversion, power conditioning and power protection solutions can be found in a wide range of demanding military and commercial environments around the world. Power technology systems from Power Paragon are virtually the "service standard" for the United States Navy and many international navies. L-3 Power Paragon also provides innovative airborne products to solve difficult power problems. The company's power conversion equipment delivers reliable AC or DC power to a variety of output loads with power demands of up to 15 kVA. These devices can be found in many military and commercial fixed-wing aircraft and helicopters.
About Applied DNA Sciences
APDN is a provider of botanical-DNA based security and authentication solutions that can help protect products, brands and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA and smartDNA, our principal anti-counterfeiting and product authentication solutions that essentially cannot be copied, 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, 2012 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.