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 entered into a Development Agreement with Inventionland Corporation. The two companies will collaborate on the development of innovative loss-prevention products, based upon APDN’s botanical DNA-marking platform. Inventionland will participate in product development with APDN and take the resultant new products and applications to its customers.
The agreement between APDN and Inventionland follows closely the launch by APDN of smartDNA®, a system designed to mark offenders and to prevent theft. The system has been deployed internationally to protect banks, retailers, jewelers and pharmacies. APDN also launched its digitalDNA platform this year that combines DNA-based security with secure-cloud technology, mobile computing and authentication on-the-fly.
Inventionland Corporation (www.Inventionland.com) is America’s largest invention factory. Over 1,000 different retailers and on-line stores have sold its innovations. Inventionland builds 2,000-2,400 new product samples for corporations and retailers to review for their shelves each year. With some retailers facing large asset loss from their stores, Inventionland was asked to invent new products to help eliminate loss in a more innovative and effective manner. Inventionland’s founder, George Davison, is an APDN stockholder. After Mr. Davison contacted APDN, both organizations began collaborating to offer a retailer solution that would help eliminate asset loss.
Mr. Davison, renowned for his novel approaches to product development, and himself the subject of a profile on the U.S. cable TV channel History (formerly The History Channel), stated: “I was a long-standing fan of Applied DNA Sciences’ novel technology and enormous breadth of application, as well as Dr. Hayward’s already-validated approach to managing biotechnology development. Inventionland is now pleased to be able to take this platform to our market-leading retailers.”
Dr. Hayward commented: “Biotech companies can benefit from Inventionland’s innovative approach and unmatchable speed-to-market. We are thrilled to partner with Inventionland on some very original and unique applications for DNA marking.”