ROCHESTER, N.Y., July 21, 2022 (GLOBE NEWSWIRE) -- 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 Gentry
RedChip Companies Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
DSS@redchip.com
