ROCHESTER, N.Y., Aug. 02, 2021 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. ("DSS" or the "Company") (NYSE American: DSS), a multinational company operating business segments in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, and securitized digital assets, announced today that its subsidiary, DSS Biomedical International, Inc. ("DSS Biomedical"), completed a $1 million equity investment in Vivacitas Oncology, Inc. ("Vivacitas"), a clinical-stage company focused on difficult-to-treat cancers.
"We continue to demonstrate our commitment to addressing unmet needs in human healthcare and wellness through key strategic investments," stated Frank D. Heuszel, CEO of DSS. "With a rich pipeline of promising assets, Vivacitas provides significant upside potential."
Vivacitas Oncology Inc. focuses on developing new treatment options to treat cancers resistant to currently available therapies. It originated in 2015 with the vision of Dr. Joseph Rubinfeld (co-founder of Amgen) and the endorsement of Infusion 51a, LP ( infusion51a.com), an impact investment fund designed to create value in underappreciated companies from the Precision Medicine and BioTech industry.
Vivacitas' lead development candidate (AR-67) is a novel lipophilic next-generation camptothecin (Topiosomerase-1 enzyme inhibitor) compound with the potential to deliver improved efficacy and tolerability, employing a proprietary synthesis method.
AR-67 has in vitro, Phase I, and Phase II data in multiple solid tumor types. For instance, it has demonstrated potential improvement in progression-free survival (6-29 months) in glioblastoma patients, while significantly reducing severe side effects usually associated with this drug class (e.g., grade 4 diarrhea).
Jeffrey Stephens, founder, CEO and director of Infusion 51a and board member of Vivacitas Oncology said, "Vivacitas Oncology is excited to work with DSS and the Impact BioMedical team as we continue to execute on our efforts to expand Vivacitas operations and develop new treatment options for cancer patients worldwide."
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 business segments in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, 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, 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.
About Vivacitas Oncology, Inc.
Vivacitas Oncology is a private clinical stage biopharmaceutical company focused on combating those cancers that have proven to be frustratingly resistant to current treatment modalities. It originated with the vision of Dr. Joseph Rubinfeld (co-founder of Amgen) and Infusion 51a, LP with the intent to improve upon well-known chemotherapies with demonstrated effect, but which also possess challenges with potency, toxicity, stability, and other issues limiting their use. Through an enduring spirit, Vivacitas continues to apply clarity, tenacity, and vision in our fight against intractable cancers and our pursuit of new treatment options for patients and their families worldwide.
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.