DSS Announces Licensing of Impact BioMedical’s Linebacker Portfolio to ProPhase Labs
July 21 2022 - 5:00PM
DSS, Inc. (NYSE American: DSS), a
multinational company operating businesses within nine divisions
and strategically acquiring and developing assets to enrich the
value of its shareholders through calculated IPO spinoffs and a
parametric share distribution strategy, today announced Global
BioLife, Inc. (“Global BioLife”), a subsidiary of the Company’s
wholly owned subsidiary Impact BioMedical, Inc. (“Impact
BioMedical”), executed a license agreement with ProPhase BioPharma,
Inc. (“PBIO”), a subsidiary of ProPhase Labs, Inc. (Nasdaq: PRPH),
a rapidly growing and diversified diagnostics, genomics and biotech
company, for Global BioLife’s Linebacker portfolio (LB-1 and LB-2),
two patented small molecule PIM kinase inhibitors with significant
potential across multiple therapeutic indications.
Ted Karkus, ProPhase Lab’s Chief Executive Officer, commented in
a press release issued on July 21, 2022, “We believe the Linebacker
platform has multi-billion-dollar potential in oncology as well as
significant potential in other fields. In the near term, we intend
to initiate further development and studies of LB-1 as a potential
cancer co-therapy.”
“The compounds that ProPhase licensed have enormous potential
and represent years of scientific research. I truly believe that
the Linebacker portfolio represents a potential breakthrough in
cancer research. I am thrilled to continue to work on these
compounds with ProPhase toward commercialization to ultimately
improve the health and save the lives of so many,” commented Daryl
Thompson, President of GRDG.
“The execution of this licensing agreement represents is a
significant milestone for Impact BioMedical and its robust
portfolio of development opportunities,” said Frank D. Heuszel, CEO
of DSS. “This is the second license agreement with ProPhase this
year, and we are excited to deepen our work together as they apply
their nearly three decades of experience enhancing the health of
the public.”
LineBacker is a platform of small molecule X-bonded polyphenols.
X-bonding is a molecular tuning technique that modifies a natural
compound to induce potency, efficacy, bioavailability, and
trans-membrane permeability while maintaining safety, toxicity, and
tolerability. Natural polyphenols have demonstrated strong
potential in treating and preventing a range of diseases by
inhibiting TNF- and indication specific causes (e.g. neurology,
anti-inflammatory, oncology). Two novel discrete LineBacker
molecules have been synthesized and characterized including in
vitro testing.
LineBacker is anticipated to be effective in crossing the
blood-brain barrier and would be delivered orally. Significant
pre-clinical testing has been completed in neurology,
anti-inflammatory, oncology, anti-infective, and viral disease
states to demonstrate response to LineBacker.
Daryl Thompson and GRDG plan to work with ProPhase to continue
the development of the Linebacker portfolio, as well as on other
important compounds in the future.
About DSS, Inc.
DSS is a multinational company operating businesses within nine
divisions: Product Packaging, Biotechnology, Direct Marketing,
Commercial Lending, Securities and Investment Management,
Alternative Trading, Digital Transformation, Secure Living, and
Alternative Energy. DSS strategically acquires and develops assets
to enrich the value of its shareholders through calculated IPO
spinoffs and a parametric share distribution strategy. Since 2019,
under the guidance of new leadership, DSS has built the necessary
foundation for achievable growth through the formation of a
diversified portfolio of companies positioned to drive
profitability in multiple high growth sectors. These companies
offer innovative, flexible, and real-world solutions that not only
provide mutual benefits for businesses and their customers, but
also create sustainable value and opportunity for
transformation.
For more information on DSS
visit http://www.dssworld.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.
Investor Relations Contact:
Dave GentryRedChip Companies Inc.1-800-RED-CHIP (733-2447)Or
407-491-4498DSS@redchip.com
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