Full Press Release Details
DNA Sciences Enters Textile Markets with Champion Thread
BROOK, N.Y., May 10, 2007 /BusinessWire/ - Applied DNA Sciences, Inc. (OTC
Bulletin Board: APDN), a provider of DNA-based security solutions, today
announced that it has entered into an agreement with Champion Thread Company
(CTC), a leading supplier of industrial sewing threads, under which CTC will
become the exclusive reseller of APDN's SigNature DNA Markers in CTC's markets
worldwide. APDN and CTC will work together to develop, commercialize and
distribute SigNature DNA marked products to the textile industry. This Agreement
supersedes and replaces a previously signed Reseller Agreement between APDN
terms of the Agreement, CTC will be granted exclusive worldwide rights to be
reseller for the thread, yarn, woven labels, and printed labels for textiles
markets for an initial period of four years with automatic annual renewals
thereafter, subject to either party's right not to renew. APDN will receive
certain royalties on all sales made by CTC.
industry is a key component of the U.S. economy, contributing $60 billion to
U.S. gross domestic product in 2002 (National Council of Textile Organizations).
Counterfeit items are a significant and growing problem with all kinds of
consumer goods, especially in the retail and apparel industries. In the United
States, $1.29 billion worth of seizures and losses were incurred as a result
counterfeit apparel and other consumer products. Approximately 30% of
counterfeit goods seized throughout the world are textile products (Organization
for Economic Cooperation and Development, Jan. 2007), indicating a large market
with a strong need for additional security measures. APDN SigNature DNA Thread
can help textile vendors, clothing and accessory manufacturers and governments
authenticate thread, yarn and fabric at any stage in the supply chain. The
effectiveness of Signature DNA Markers in authenticating sewing thread has
independently verified by Idaho National Laboratories which is managed and
operated by Battelle Energy Alliance LLC for the Department of
Thread strives to be at the forefront of technology and innovation in our
industry and this agreement underscores that commitment once again." commented
Bob Poovey, Champion's president. "We are excited about working with Applied DNA
Sciences and the use of DNA-embedded sewing threads."
James A. Hayward, CEO of Applied DNA Sciences added, "We are pleased
to enhance our relationship with Champion Thread, one of the leading sewing
thread suppliers in the country. With this OEM relationship in place, we are
better able to service the anti-counterfeiting needs of textile and luxury
owners. This is one more indication of the many ways in which SigNature DNA
be utilized to authenticate a wide variety of products and provides entr e into
another important market where counterfeiting continues to grow."
Champion Thread Company
Thread Company is a privately owned supplier, developer, and marketer of
industrial sewing threads. CTC has been a supplier of sewing thread for over
quarter century. Headquartered in Gastonia, NC, CTC distributes to customers
worldwide. CTC offers customers technical support, outstanding quality
assurance, and premium products. Priding itself with innovative solutions to
technical problems, CTC guarantees excellent customer satisfaction and support.
Applied DNA Sciences, Inc.
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
Registration Statement on Form SB-2 as amended, 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 or circumstances after the date
hereof to reflect the occurrence of unanticipated events.
Applied DNA Sciences, Inc.
Debbie Bailey, 631-444-8090, fax:
/FCMN Contact: info@adnas.com /