Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE
American: DSS), a multinational company operating businesses
focusing on brand protection technology, blockchain security,
direct marketing, healthcare, real estate, and securitized digital
assets, today announced its wholly owned subsidiary Impact
BioMedical, Inc. (“Impact BioMedical”), through its subsidiary
Global BioLife, Inc. (“Global BioLife”), completed efficacy testing
of its proprietary 3F Antiviral Biofragrance (“3F Biofragrance) at
a biosafety level 3 containment facility at an independent
university. The study demonstrated a 10-fold reduction in COVID-19
viral population on surfaces using 3F Biofragrance.
“We’re extremely excited with the results of the
study, which was based on a quantifiable, robust model and designed
to treat high levels of the COVID-19 virus,” stated Daryl Thompson,
Global BioLife’s Director of Scientific Initiatives and founder of
advanced research company GRDG Sciences, LLC (“GRDG”). “As the
world continues to battle COVID-19, common antimicrobial compounds
have the potential to be overused, leading to new health concerns.
We designed 3F Biofragrance to solve this issue through a
multi-focal approach to inhibiting viruses that reduces the chances
of developing resistance as seen with other antimicrobials.”
3F Biofragrance was designed for the Open Air
Defense Initiative, a strategy to protect locations where large
numbers of people gather or transit such as airports, containment
areas, train stations, convention centers, hospitals, and ports of
entry. The Open Air Defense Initiative was created as a solution
for Event 201, a pandemic exercise conducted in 2019 by the Johns
Hopkins Center for Health Security, the World Economic Forum and
the Bill and Melinda Gates Foundation. Event 201 highlighted areas
where public/private partnerships are vital to respond to a severe
pandemic. In addition to COVID-19, 3F Biofragrance is effective
against E. coli, MRSA, Influenza, Rhinovirus, and Tuberculosis.
In the latest study, 3F Biofragrance
demonstrated success as a surface disinfectant, killing the
COVID-19 virus in concentrations as low as 1/5000 or 0.02%. In
comparison, typical antimicrobial surface disinfectants have
concentrations of 0.1% to 1.8%.
Impact BioLife is currently in joint development
with multiple global cosmetics and consumer products companies for
the commercialization of the 3F Biofragrance technology.
“3F Biofragrance has the potential to transform
typical consumer products into weapons against the spread of
COVID-19 and other viruses, and we look forward to providing
updates on ongoing negotiations for global licensing and royalty
agreements of this innovative technology,” continued Thompson.
The global market for antimicrobial additives,
estimated at $2.2 billion in 2020 and growing at a CAGR of 8.4%, is
expected to reach $4.3 billion in 2027, according to Grandview
Research, and the global fragrance ingredients market is expected
to reach $16.1 billion by 2027, up from $13.6 billion in 2019,
according to data from Allied Market Research.
GRDG’s Chief Scientific Advisor Dr. Roscoe M.
Moore, Jr., the former United States Assistant Surgeon General and
former Epidemic Intelligence Service Officer at Centers for Disease
Control and Prevention or CDC commented, “This latest study affirms
our belief that our 3F Biofragrance technology can play an
important role in the battle against COVID-19 through a wide
variety of consumer applications.”
“As a result of the profound and unprecedented
global experiences surrounding the ongoing COVID-19 pandemic,
consumers around the world now have a newly heightened awareness of
the importance of microbial-resistant products and surfaces, and 3F
Biofragrance could provide an extremely effective and safe
alternative to meet this growing demand,” added GRDG’s Chief
Strategy Advisor, Lieutenant Colonel William H. Lyerly Jr., retired
U.S. Army Medical Service Corps Officer who also served as a senior
official in the U.S. Department of Health and Human Services, the
U.S. Agency for International Development, and the U.S. Executive
Office of the President (White House).
GRDG is a specialized research team that focuses
on developing solutions for biodefense under the guidelines of the
Project BioShield Act, Event 201, and Potomac Institute for Policy
Studies.
GRDG performs rapid analysis and research by
using advanced algorithms and the most complete databases in the
world. The team operates in a lean and efficient manner and when
necessary utilizes the top contract research organizations to
deliver solid results that are robust and accurate.
About Impact BioMedical,
Inc.Impact BioMedical, Inc. ("Impact BioMedical") is a
wholly owned subsidiary of DSS. Impact BioMedical strives to
leverage its scientific know-how and intellectual property rights
to provide solutions that have been plaguing the biomedical field
for decades. By tapping into the scientific expertise of GRDG
Sciences, LLC, Impact BioMedical pledges to undertake a concerted
effort in the R&D, drug discovery and development for the
prevention, inhibition, and treatment of neurological, oncological
and immuno related diseases. For more information on Impact
BioMedical visit http://impbio.com/.
About Document Security Systems, Inc.
DSS is a multinational company operating
businesses focused on brand protection technology, blockchain
security, direct marketing, healthcare, real estate, and
securitized digital assets. Its business model is based on a
distribution sharing system in which shareholders will receive
shares in its subsidiaries as DSS strategically spins them out into
IPOs. Its historic business revolves around counterfeit deterrent
and authentication technologies, smart packaging, and consumer
product engagement. DSS is led by its Chairman and largest
shareholder, Mr. Fai Chan, a highly successful global business
veteran of more than 40 years specializing in corporate
transformation while managing risk. He has successfully
restructured more than 35 corporations with a combined value of $25
billion.
For more information on DSS
visit http://www.dsssecure.com.
Investor Contact:
Dave Gentry, CEO RedChip Companies Inc. 407-491-4498
Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements include, but are not limited to,
statements related to the Company's intended use of proceeds and
other statements that are not historical facts. Forward-looking
statements are based on management's current expectations and are
subject to risks and uncertainties that may cause actual results or
events to differ materially from those projected. These risks and
uncertainties, many of which are beyond our control, include: risks
relating to our growth strategy; our ability to obtain, perform
under and maintain financing and strategic agreements and
relationships; risks relating to the results of development
activities; our ability to attract, integrate and retain key
personnel; our need for substantial additional funds; patent and
intellectual property matters; competition; as well as other risks
described in the section entitled "Risk Factors" in the prospectus
and in our other filings with the SEC, including, without
limitation, our reports on Forms 8-K and 10-Q, all of which can be
obtained on the SEC website at www.sec.gov. Readers are cautioned
not to place undue reliance on the forward-looking statements,
which speak only as of the date on which they are made and reflect
management's current estimates, projections, expectations and
beliefs. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our
expectations or any changes in events, conditions or circumstances
on which any such statement is based, except as required by
law.
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