Applied DNA Secures Grant from National Grid Partnered with the New York State MEP to Support Manufacture of COVID-19 Diagnos...
June 09 2020 - 11:33AM
Business Wire
- Funds to be Used for Manufacturing Capacity
Expansion of Commercially Available Testing Kit and to Support
Pathway to Production of Vaccine Candidate(s) for Clinical Trials
-
Applied DNA Sciences Inc. (NASDAQ: APDN) (“Applied DNA” or the
“Company,” “our”) announced today it secured a $40,000 economic
development grant from National Grid to support the Company’s
efforts associated with the manufacture of COVID-19-related
therapeutics and diagnostics programs. National Grid is one of the
largest investor-owned energy companies in the U.S. and serves more
than 20 million customers throughout New York, Massachusetts, and
Rhode Island.
National Grid’s grants focus on supporting businesses that make
critical products for healthcare providers, governments, and other
community organizations to navigate through the COVID-19 pandemic.
National Grid collaborates with New York State Manufacturing
Extension Partnership centers to evaluate business need and offer
funding of up to $40,000 to reimburse recipients for costs
associated with the transition, upgrade, and implementation of lean
manufacturing principles at their existing facilities in the fight
against COVID-19.
“We are grateful for National Grid and New York State’s focus on
the Long Island community in this time of crisis. This funding will
be used to increase our capacity to deliver quantities of our
RT-PCR test for COVID-19 that was recently approved under Emergency
Use Authorization by the FDA for clinical use, and to support the
pathway toward human trials of selected vaccine candidates we have
jointly developed with Takis Biotech,” said Dr. James Hayward,
president and CEO at Applied DNA. “Our orchestrated approach to our
development programs aimed at vanquishing COVID-19 we believe is
unique, and we share a deep motivation as fellow Long Islanders to
support local communities and governments, that are working
tirelessly to manage within the pandemic.”
More information on the National Grid grant program is on its
website at www.shovelready.com. More information about Applied
DNA’s COVID-19 programs are on the Company’s website at
www.adnas.com.
About Applied DNA Sciences, Inc.
Applied DNA is a provider of molecular technologies that enable
supply chain security, anti-counterfeiting and anti-theft
technology, product genotyping, diagnostics and pre-clinical
nucleic acid-based therapeutic drug candidates.
Visit adnas.com for more information. Follow us on Twitter and
LinkedIn. Join our mailing list.
The Company’s common stock is listed on NASDAQ under ticker
symbol ‘APDN’, and its publicly traded warrants are listed on OTC
under ticker symbol ‘APPDW’.
Forward-Looking Statements
The statements made by Applied DNA in this press release may be
“forward-looking” in nature within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of
1995. Forward-looking statements describe Applied DNA’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 Applied DNA. Actual results
could differ materially from those projected due to the possibility
of a failure to make timely payment on its outstanding secured
convertible notes and resulting enforcement by noteholders of
remedies on collateral which includes substantially all of Applied
DNA’s assets, its history of net losses, limited financial
resources, limited market acceptance, the uncertainties inherent in
research and development, future clinical data and analysis,
including whether any of Applied DNA’s or its partners diagnostic
or therapeutic candidates will advance further in the preclinical
research or clinical trial process, including receiving clearance
from the U.S. Food and Drug Administration or equivalent foreign
regulatory agencies to conduct clinical trials and whether and
when, if at all, they will receive final approval from the U.S. FDA
or equivalent foreign regulatory agencies, the unknown outcome of
any applications to U.S. FDA or equivalent foreign regulatory
agencies, the unknown duration of an EUA approval, disruptions in
the supply of raw material and supplies, and various other factors
detailed from time to time in Applied DNA’s SEC reports and
filings, including our Annual Report on Form 10-K filed on December
12, 2019 and our subsequent quarterly report on Form 10-Q filed on
February 6, 2020 and May 14, 2020, and other reports we file with
the SEC, which are available at www.sec.gov. Applied DNA undertakes
no obligation to update publicly any forward-looking statements to
reflect new information, events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events, unless
otherwise required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200609005617/en/
investor contact: Sanjay M. Hurry, LHA Investor
Relations, 212-838-3777, shurry@lhai.com program contact:
Judy Murrah, Applied DNA, 631-240-8819, judy.murrah@adnas.com
web: www.adnas.com twitter: @APDN
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