Applied DNA Sciences Announces Appointment of Scott L. Anchin to Board of Directors
November 08 2019 - 3:22PM
Business Wire
Appointment
follows resignation of Director Dr. Charles Ryan
Applied DNA Sciences, Inc. (NASDAQ: APDN) (“Applied DNA” or the
“Company”) a leader in Polymerase Chain Reaction (PCR)-based DNA
manufacturing for product authenticity, traceability solutions and
nucleic acid-based biotherapeutic research, today announced the
appointment of Scott L. Anchin to its Board of Directors following
the resignation of Director Dr. Charles Ryan. The Company expects
Mr. Anchin will also be engaged as a strategic advisor to the
Company.
Mr. Anchin is a restructuring professional with more than twenty
years of leadership experience spanning a variety of industries.
Mr. Anchin is currently a partner at Cormont Strategic Services,
LLC and formally worked for Alvarez & Marsal North America,
LLC, a global professional services firm specializing in turnaround
and interim management and performance improvement. Mr. Anchin
started his career in public accounting with Anchin, Block &
Anchin LLP, where he audited financial statements for
manufacturing, real estate, retail and consumer products companies.
Mr. Anchin has advised on many notable restructuring engagements
including Lehman Brothers Holdings Inc., Fieldwood Energy, Vanguard
Natural Resources, Chaparral Energy, Cengage Learning and O.W.
Bunker, among others.
Mr. Anchin has a Bachelor of Science in Accounting from the
Wharton School of Business at the University of Pennsylvania and an
MBA with a concentration in Management from Columbia Business
School. He is also a non-active Certified Public Accountant
(CPA).
“Dr. Ryan has been a trusted colleague and advisor for many
years, and we thank him for his thoughtful service on our Board,”
said Dr. James A. Hayward, President, Chairman and Chief Executive
Officer of Applied DNA. “It has been an honor and a privilege to be
associated with Dr. Ryan and we wish him all the best in his next
endeavor.”
“When one door closes, another opens, and we are thrilled to
have Mr. Anchin join our Board and look forward to him starting
work as a strategic advisor. Mr. Anchin has a demonstrated track
record of driving performance improvements and increasing
shareholder value,” said Dr. Hayward. “We are pleased to welcome
Mr. Anchin at this important next stage of Applied DNA’s
evolution.”
“Having spent many years advising emerging companies, I am
extremely pleased to join Applied DNA, which I believe has the
potential to transform the track-and-trace and nucleic acid-based
biotherapeutics markets,” said Scott Anchin. “I look forward to
working with the Applied DNA team to build a world-class
company.”
About Applied DNA Sciences
Applied DNA is a provider of molecular technologies that enable
supply chain security, anti-counterfeiting and anti-theft
technology, product genotyping, and pre-clinical nucleic acid-based
therapeutic drug candidates.
Applied DNA makes life real and safe by providing innovative,
molecular-based technology solutions and services that can help
protect products, brands, entire supply chains, and intellectual
property of companies, governments and consumers from theft,
counterfeiting, fraud and diversion.
Visit adnas.com for more information. Follow us on Twitter and
LinkedIn. Join our mailing list.
Common stock listed on NASDAQ under the symbol APDN, and
warrants are listed under the symbol APDNW.
Forward-Looking Statements
The statements made by Applied DNA in this press release may be
“forward-looking” in nature within the meaning of 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 substantial doubt
relating to Applied DNA’s ability to continue as a going concern,
our ability to successfully enter into commercial contracts for the
implementation of our CertainT® platform, the possibility of
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, the Company’s 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 product 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, uncertainties relating to its ability to maintain its
NASDAQ listing in light of delisting notices received and its
recent hearing, 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 18, 2018, as amended, and our
subsequent quarterly reports on Form 10-Q filed on February 7,
2019, May 9, 2019 and August 13, 2019, 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 to reflect the occurrence of unanticipated
events, unless otherwise required by law.
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investor contact: Sanjay M. Hurry, LHA Investor Relations,
212-838-3777, shurry@lhai.com web: www.adnas.com twitter:
@APDN
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