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 DSS Biomedical International, Inc. (“DSS
Biomedical”), a subsidiary of Impact BioMedical, Inc., a wholly
owned subsidiary of the Company, completed an equity investment in
Vivacitas Oncology, Inc. (“Vivacitas”), a clinical-stage company
focused on difficult to treat cancers.
Vivacitas was co-founded in 2015 by Dr. Joseph
Rubinfeld and Infusion51a with an eye toward redesigning
well-known chemotherapies that have already been demonstrated to
have beneficial effects, but which may also possess potency,
toxicity, stability, and/or pharmacokinetic issues that limit their
use. To this end, Vivacitas has been laser-focused on acquiring its
three pipeline assets, made possible by leveraging the robust
professional network that Dr. Rubinfeld fostered over a lifetime in
the industry. As a result, Vivacitas was able to complete the
acquisitions of its three major programs within a 12-month
period.
Contributing to the impressive asset acquisition track record is
Vivacitas' partnership with International Infusion Advisors,
LLC via its investment arm, Infusion 51A, a relationship
that is anchored in a common mission - to develop disruptive
technologies aimed at improving the quality of life of cancer
patients.
Vivacitas' assets are organized into two separate, yet related
platforms: a development platform centered around advancing
next-generation Camptothecins in various cancers, and an innovation
platform focused on applying new formulations and modified
chemistries to compounds to potentially improve tolerability and
efficacy.
“Impact BioMedical continues to demonstrate its commitment to
addressing unmet needs in human healthcare and wellness,” stated
Frank D. Heuszel, CEO of DSS. “With a rich pipeline of promising
assets, Vivacitas provides significant upside potential.”
Jeffrey Stephens, Founder, Chief Investment Officer, and
Director of Infusion51a and a Vivacitas Oncology Director, said,
“Vivacitas Oncology is delighted to welcome Impact BioMedical as a
new investor and contributor to our efforts to develop new
treatment options for cancer patients.”
As part of its equity investment in Vivacitas, DSS Biomedical
received the right to appoint two members to the board of directors
of Vivacitas.
Separately, DSS Biomedical acquired Impact Oncology Pte Ltd
(“Impact Oncology”) from Alset EHome International Limited, Inc.
The principal assets of Impact Oncology consist of equity in
Vivacitas. The Chairman of DSS is also the Chairman of Alset EHome
International.
About Impact BioMedical, Inc.Impact BioMedical,
Inc. ("Impact BioMedical") is a wholly owned subsidiary of DSS and
a unique technology source, developer, and business partner in
addressing unmet needs in human healthcare and wellness. 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, CEORedChip Companies
Inc.407-491-4498Dave@redchip.com
About Vivacitas Oncology,
Inc.
A privately held biopharmaceutical company
co-founded in 2015 by Dr. Joseph Rubinfeld and Infusion 51a,
LP. Vivacitas is focused on acquiring mid-to-late-stage
oncology assets with the goal to make the chemotherapy more
effective for patients.
For further information please
visit www.vivaoncology.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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