DSS Expands its Healthcare Segment through Investment in Vivacitas Oncology
ROCHESTER, N.Y., April 08, 2021 (GLOBE NEWSWIRE) -- 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 Infusion 51a, LP 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 Infusion 51a 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.
Dave Gentry, CEO
RedChip Companies Inc.
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.
Released April 8, 2021