Applied DNA Sciences Inc. of Stony Brook expects to get about $1 million in orders in 2011 from a single client, a European maker of luxury goods, the company said Wednesday.
The company markets its unique botanical genetic markers as an anti-counterfeiting tool.
Applied DNA said another $7.7 million in orders is expected in following years from the same customer, with the per-year amounts increasing after 2011. The company did not name its client or provide details on the client’s products.
"Unique botanical DNA authentication codes will be used to mark luxury products and link them to specific owners," the company, which trades on the OTC stock exchange as APDN, said in a news release Wednesday.
"On signing of the agreement, APDN received purchase orders for multiple botanical DNA authentication codes. These purchase orders have already been filled, with repeat orders shipped back to the client."
James Hayward, above left, Applied DNA's chief executive, said in a statement, "Our agreement has been working incredibly smoothly and has opened up new possibilities for our client to develop new products that are totally unique and can be marketed and sold to satisfy an elite customer base."
The company’s products are also used in special dye packs in the United Kingdom that can help trace stolen banknotes back to robbers. Its DNA markers are also used to mark microchips for security-sensitive manufacturers, to ensure that foreign-made knockoffs aren’t introduced into the manufacturing process. And its markers are also widely used in Britain’s high-end wool suit making industry in Yorkshire, where “DNA suits” are already in production.
Here's a profile of Hayward
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