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ROCHESTER, N.Y., Sept. 17, 2020 (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 its wholly owned subsidiary Impact BioMedical, Inc. (“Impact BioMedical”), through its subsidiary Global BioLife, Inc. (“Global BioLife”), completed efficacy testing of its proprietary 3F Antiviral Biofragrance (“3F Biofragrance) at a biosafety level 3 containment facility at an independent university. The study demonstrated a 10-fold reduction in COVID-19 viral population on surfaces using 3F Biofragrance.
“We’re extremely excited with the results of the study, which was based on a quantifiable, robust model and designed to treat high levels of the COVID-19 virus,” stated Daryl Thompson, Global BioLife’s Director of Scientific Initiatives and founder of advanced research company GRDG Sciences, LLC (“GRDG”). “As the world continues to battle COVID-19, common antimicrobial compounds have the potential to be overused, leading to new health concerns. We designed 3F Biofragrance to solve this issue through a multi-focal approach to inhibiting viruses that reduces the chances of developing resistance as seen with other antimicrobials.”
3F Biofragrance was designed for the Open Air Defense Initiative, a strategy to protect locations where large numbers of people gather or transit such as airports, containment areas, train stations, convention centers, hospitals, and ports of entry. The Open Air Defense Initiative was created as a solution for Event 201, a pandemic exercise conducted in 2019 by the Johns Hopkins Center for Health Security, the World Economic Forum and the Bill and Melinda Gates Foundation. Event 201 highlighted areas where public/private partnerships are vital to respond to a severe pandemic. In addition to COVID-19, 3F Biofragrance is effective against E. coli, MRSA, Influenza, Rhinovirus, and Tuberculosis.
In the latest study, 3F Biofragrance demonstrated success as a surface disinfectant, killing the COVID-19 virus in concentrations as low as 1/5000 or 0.02%. In comparison, typical antimicrobial surface disinfectants have concentrations of 0.1% to 1.8%.
Impact BioLife is currently in joint development with multiple global cosmetics and consumer products companies for the commercialization of the 3F Biofragrance technology.
“3F Biofragrance has the potential to transform typical consumer products into weapons against the spread of COVID-19 and other viruses, and we look forward to providing updates on ongoing negotiations for global licensing and royalty agreements of this innovative technology,” continued Thompson.
The global market for antimicrobial additives, estimated at $2.2 billion in 2020 and growing at a CAGR of 8.4%, is expected to reach $4.3 billion in 2027, according to Grandview Research, and the global fragrance ingredients market is expected to reach $16.1 billion by 2027, up from $13.6 billion in 2019, according to data from Allied Market Research.
GRDG’s Chief Scientific Advisor Dr. Roscoe M. Moore, Jr., the former United States Assistant Surgeon General and former Epidemic Intelligence Service Officer at Centers for Disease Control and Prevention or CDC commented, “This latest study affirms our belief that our 3F Biofragrance technology can play an important role in the battle against COVID-19 through a wide variety of consumer applications.”
“As a result of the profound and unprecedented global experiences surrounding the ongoing COVID-19 pandemic, consumers around the world now have a newly heightened awareness of the importance of microbial-resistant products and surfaces, and 3F Biofragrance could provide an extremely effective and safe alternative to meet this growing demand,” added GRDG’s Chief Strategy Advisor, Lieutenant Colonel William H. Lyerly Jr., retired U.S. Army Medical Service Corps Officer who also served as a senior official in the U.S. Department of Health and Human Services, the U.S. Agency for International Development, and the U.S. Executive Office of the President (White House).
GRDG is a specialized research team that focuses on developing solutions for biodefense under the guidelines of the Project BioShield Act, Event 201, and Potomac Institute for Policy Studies.
GRDG performs rapid analysis and research by using advanced algorithms and the most complete databases in the world. The team operates in a lean and efficient manner and when necessary utilizes the top contract research organizations to deliver solid results that are robust and accurate.
About Impact BioMedical, Inc.
Impact BioMedical, Inc. ("Impact BioMedical") is a wholly owned subsidiary of DSS. Impact BioMedical strives to leverage its scientific know-how and intellectual property rights to provide solutions that have been plaguing the biomedical field for decades. By tapping into the scientific expertise of GRDG Sciences, LLC, Impact BioMedical pledges to undertake a concerted effort in the R&D, drug discovery and development for the prevention, inhibition, and treatment of neurological, oncological and immuno related diseases. 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.
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.