Applied DNA Sciences (NASDAQ: APDN), a provider of DNA-based supply-chain, anti-counterfeiting and anti-theft technology, product genotyping and product authentication solutions,announced today that it has signed a new $2.5 million contract with a U.S. government agency for use of its SigNature® DNA products. The contract vehicle is a blanket purchase agreement (BPA) with a period of performance of April 1, 2016 through March 31, 2021. The contract allows for the sale of both standard products and the development of new products over the five-year term.
The BPA is a simplified acquisition method that government agencies use to fill anticipated repetitive needs for supplies and/or services. Essentially, BPAs are like "charge accounts" set-up with trusted suppliers that have demonstrated dependable past performance and have a history of quality services and supplies. The BPA is an efficient contract vehicle because once established, repeat purchases are easy for both sides.
The contract vehicle also allows Applied DNA Sciences the ability to develop new products and solutions for the contracting agency at an accelerated deployment pace compared with traditional contract-development paths. Rapid adoption of "bleeding edge" DNA-tracing technologies can provide the US government with a robust Safeguards response to manage the risks associated with the supply chain for Mission Critical infrastructure components.
"Our performance record at the federal level speaks for itself and is one of our best selling tools," said Dr. James Hayward, Chairman, President and CEO of APDN. "As our reputation spreads within and across agencies, as engaged creative solution providers and partners, we gain new federal customers. This BPA will allow rapid deployment with new applications without the need to negotiate individual contracts. We are thrilled to continue to be of service to our government."
Source: Applied DNA Sciences
Date: May 10, 2016