Applied DNA Sciences, Patronus Systems Sign Five-Year Exclusivity Agreement

Applied DNA Sciences, Inc. APDN signed a five-year exclusivity agreement with Patronus Systems Ltd, a company based in West Sussex, UK, Under the terms of the agreement, Applied DNA Sciences will supply its SigNature® DNA for use with Patronus Systems' new bonding agent for the Cash Handling Industry. The bonding agent is very efficient and uses a relatively small amount of liquid per ATM cassette / cash container. Once activated, it bonds bank notes together, forming a solid block within seconds. Approximately 60 percent of the bank notes are bonded, allowing National Banks to count and give credit for any returned bonded bank notes. Patronus Systems will be adding SigNature DNA to every single ATM cassette / cash container to ensure recovered monies can be returned to owners and that law enforcement agencies have the forensic evidence to help them convict criminals. To date, the use of SigNature DNA in the Cash Handling Industry has allowed Applied DNA Sciences to facilitate the convictions of more than 100 criminals involved in Cash in Transit crime with new cases continuing to be added each month. Duncan Grant, Director of Patronus Systems Ltd, said, "The use of SigNature DNA in combination with Patronus Systems' unique bonding agent takes cash protection systems to a whole new level. I am relatively new to the cash handling industry and it struck me at a very early stage that for a theft deterrent system to be effective, one must first 'remove the prize' from the criminal, and secondly, be able to identify recovered cash so it may be returned to its legal owner. The use of our bonding agent, in combination with SigNature DNA, accomplishes both these things. Leading banks across Europe are working with us in adapting this new technology." UK-based Cennox Plc, represented by their subsidiary company Sterling Bank Services in the USA, have been awarded the sole global distribution rights for the bonding agent system for use in the ATM industry from Patronus Systems Limited. Tony Benson, Managing Director for Applied DNA Sciences covering Europe, the Middle East and Africa, said, "The decision by Patronus Systems, to utilize SigNature DNA as a complement to its bonding agent, is a testament to the reputation of our product." James Hayward, Chairman and CEO of Applied DNA Sciences, commented, "We look forward to working with Partners Patronus Systems Ltd on yet another product which will make the world a safer place to live."