Business Editors
LOS ANGELES--(BUSINESS WIRE)--Jan. 28, 2003
Applied DNA Sciences, Inc. (OTCBB:APDN):
-- Wehr's Experience Taking U.S. Companies Overseas to Markets
Including Japan, Hong Kong, Singapore as Well as European
Markets, Including Germany,
Has Proved Valuable in Accelerating Investment Flow
Applied DNA Sciences, Inc. (OTCBB:APDN), a provider of proprietary DNA-embedded biotechnology solutions that protect corporate and government intellectual property from counterfeiting and fraud, today announced the appointment of Gerhard H. Wehr as chief financial officer. Wehr has established proven success at blending Asian with U.S. business culture into an international professional environment, by utilizing innovative strategies to lead teams in securing alliances, providing value added products, and accelerating investment flow. In addition, Wehr served as one of the regulators at Singapore's Securities Industry Council by invitation of Minister of Finance from 1985 through 1986.
Most recently, Wehr has been serving as president and chief operating officer of VO Management, LLC, a Reno, Nevada-based holding company that raises funds for the acquisition of high tech assets through global merger, turnaround and leveraged buy-out investments. He is also a managing member of Convergence Group, LLC, a Beverly Hills-based management company dealing with planned private equity funding.
Wehr's experience taking U.S. companies overseas to markets includes Japan, Hong Kong, Singapore as well as European markets, including Germany, Switzerland, the U.K., and France. His influence has proved invaluable in accelerating investment flow. Wehr previously held executive management positions for Chemical Bank Trust and Investment (Singapore & Hong Kong), as managing director, and as managing director and representative director of Barclay's Trust and Banking, Co., Japan, Ltd. Tokyo, where he generated over $900 million in assets under management within 12 months by transforming the conventional trust banking unit into a first-class investment banking entity.
At Banque Nationale de Paris Asset Management (Japan) Ltd., Tokyo, as managing director and representative director, which he founded, Wehr established five mutual funds and garnered close to U.S. $500 million in asset under management within 12 months by attracting risk-adverse investors to alternative investment instead of conventional products. On merger with Banque Paribas, Wehr, in 2000, became president of BNP Paribas Asset Management (Japan) Ltd.
At Dresdner Securities, Asia, Ltd., Tokyo, as chief executive officer and representative director, Wehr achieved 18 percent return on equity against difficult market conditions by leading a team of Japanese and French investment specialists in systematically building investment product and capturing market.
"Gerhard Wehr is a results-driven executive with superior ability at developing U.S. companies in overseas markets," said Larry Lee, president and chief executive officer of Applied DNA Sciences, Inc. "He has extensive experience in identifying capital partners and launching new products and technologies in the global markets. I am confident that his skills will assist our company in reaching our goal to become the leader in providing a total security solution to protect corporate and intellectual property from counterfeiting and fraud."
About Applied DNA Sciences, Inc. (ADNAS)
Applied DNA Sciences, Inc. (OTCBB:APDN) provides proprietary DNA-embedded biotechnology solutions that confirm authenticity and protect corporate and government agencies from counterfeiting, fraud, piracy, product diversion, and unauthorized intrusion. ADNAS has an exclusive licensing and partnership agreement covering North America and Europe with Biowell Technology, Inc. (http://www.biowell.com.tw/eng/home.htm) of Taiwan. The company provides sales, marketing, and sub-licensing of the DNA products, which are accompanied by monitoring and enforcement support to identify, deter, and apprehend global counterfeiting organizations.
ADNAS' patented technology addresses the more than $350 billion of counterfeit products sold globally each year. Corporations spend approximately $6 billion annually on anti-counterfeit and anti-fraud solutions. DNA tagging provides an extremely high counterfeit barrier, because the unique DNA sequence that identifies a tagged object is virtually impossible for a counterfeiter to replicate. Industries benefiting from ADNAS solutions include: corporations, federal government, information technology, security and surveillance, entertainment, the arts, cosmetics, pharmaceutical and biometrics, and vertical retail markets.
The company is headquartered at 9255 W. Sunset Blvd., Los Angeles, CA 90069; Tel: 310/860-1DNA (1362); Fax: 310/246-1760 or visit www.ADNAS.com.
The statements made by Applied DNA Sciences, Inc. (the company) may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe The Company'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 Sciences, Inc. Actual results could differ materially from those projected due to changes in interest rates, market competition, changes in the local and national economies, and various other factors. The company 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.