Full Press Release Details
DNA Sciences Acquires Applied DNA Sciences Europe Ltd.
BROOK, N.Y., April 4, 2007 /Business Wirel/ -- Applied DNA Sciences, Inc. (OTC
Bulletin Board: APDN), a DNA security solutions company, today announced that
Applied DNA Sciences Europe Ltd., an English private limited company, is now
wholly owned subsidiary of Applied DNA Sciences, Inc. In July 2003, APDN,
Biowell Technology, Inc. and G.A. Corporate Finance Ltd. entered into a
Sub-License Agreement that provided G.A. Corporate Finance a license to market
and sell APDN's products in the U.K., among other things. G.A. Corporate Finance
formed Applied DNA Sciences Europe Ltd. in April 2003 in anticipation of this
agreement. On March 30, 2007, the parties terminated this agreement. All rights
to market and sell APDN products in the U.K. were returned to APDN, and all
G.A. Corporate Finance's interests in Applied DNA Sciences Europe Ltd. were
transferred to APDN.
company moves forward and continues to establish business relationships with
only U.S., but also European and other companies worldwide, we thought it was
important to consolidate rights for our technologies and have direct control
our business in the U.S. and Europe," stated Dr. James A. Hayward, CEO of
Applied DNA Sciences. "We hope that this strategic move will position the
company well for its next phase of growth and will allow APDN to maximize the
opportunities we will have in the years ahead."
Applied DNA Sciences, Inc.
DNA Sciences, Inc. provides botanical DNA encryption, embedment and
authentication solutions that can help protect companies, governments and
consumers from counterfeiting, fraud, piracy, product diversion, identity theft
and unauthorized intrusion into physical locations and databases. APDN's common
stock is listed on the Over-The-Counter Bulletin Board under the symbol "APDN".
statements made by APDN may be forward-looking in nature and are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
1995. 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 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-KSB, filed on January 16, 2007 and our subsequent
quarterly report on Form 10-QSB. APDN undertakes no obligation to update
publicly any forward-looking statements to reflect new information, events
circumstances after the date hereof to reflect the occurrence of unanticipated
Applied DNA Sciences, Inc.
Debbie Bailey, 631-444-8090, fax: 631-444-8848/
Contact: info@adnas.com /
site: http://www.ADNAS.com