Applied DNA Sciences Inc., a Stony Brook maker of anti-counterfeiting products using DNA from plants, has reported more than $400,000 in additional revenue following the acquisition of large-scale DNA producer Vandalia Research Inc.
Vandalia, a West Virginia-based spinoff of Marshall University, sold its customer portfolio, intellectual and physical assets to Applied DNA for $1.5 million in September, including 10 Triathlon machines capable of making billions of strands of DNA used by pharmaceutical researchers. Applied DNA has shipped orders of the research-grade DNA to suppliers and two international customers, according to a company announcement this week.
"It happened a little bit faster than we were expecting," Applied DNA president and CEO James A. Hayward said in reference to the added revenue stream. Hayward added that his company is "making a concerted effort to increase the number of customers" and that the DNA buyers are "very open minded" about utilizing some of Applied DNA's anti-counterfeiting and product verification offerings as well.
So far, the company has moved about half of the DNA manufacturing machines to Long Island. The full integration of Vandalia's technology into Applied DNA's operations is expected to be complete before the end of the year, Hayward said.