DSS - DSS Inc. Is Spinning Off Its Biotech Subsidiary After Signing A Major Licensing Agreement
(NewsDirect)
By David Willey, Benzinga
DSS, Inc. (NYSEAmerican: DSS) is finalizing the long-anticipated spin-off of its biotech subsidiary, ImpactBiomedical, Inc. The spin-off will reward DSS investors withshares from Impact, and it will come after an Impact subsidiary signeda licensing agreement with a pharmaceutical company.
Investors who own DSSshares as of June 30 will receive four (4) Impact Biomedical sharesfor every one of their DSS shares, as part of the spin-off.
The spin-off is coming after ImpactBiomedical’s subsidiary, Global BioLife, Inc. , signed alicensing agreement with ProPhase BioPharma, Inc. , a subsidiaryof ProPhase Labs, Inc. (NASDAQ: PRPH) for GlobalBioLife’s Linebacker portfolio of treatments, LB-1 and LB-2 .Prophase Labs is a growing diagnostic, genomics and biotech companywith a diversified portfolio.
Impact’s Success InBiotech
Linebacker is a platformof small molecule X-bonded polyphenols , and LB-1 and LB-2 aretreatments that are expected to be effective in crossing theblood-brain barrier. Linebacker could prove to be a treatment with arange of applications, including in neurology, anti-inflammatory andoncology diseases.
With this licensing agreement, ProPhase will continuedeveloping Linebacker as a potential therapeutic. In fact, on June 1, ProPhaseannounced that “Harvard scientists at the Dana Farber CancerInstitute, in two separate lung and colon cancer clonogenic models,have successfully demonstrated Linebacker’s ability to inhibitcancer cell growth, an exciting development for the polyphenolcompound.” The company already believes that LB-1may be an effective therapy for hard-to-treat cancers andother types of cancer.
Frank D. Heuszel, CEO of DSS, commented on the agreement,“The execution of this licensing agreement represents a significantmilestone for Impact BioMedical and its robust portfolio ofdevelopment opportunities. This is the second license agreement withProPhase this year, and we are excited to deepen our work together asthey apply their nearly three decades of experience enhancing thehealth of the public.”
Ted Karkus,ProPhase Lab's CEO, commented on the partnership in July 2022,“We believe the Linebacker platform has multi-billion-dollarpotential in oncology as well as significant potential in otherfields.”
4 Shares In Spin-Off For Every DSS Share
DSS could offer apotentially lucrative opportunity to investors looking to diversifytheir portfolios. This is not the only spin-off opportunity that DSSwill offer, as the company operates nine divisions and 40subsidiaries.
DSShas plans to spin off two other of its successful subsidiaries laterin 2023. These are the medical real estate investment trust, AAMI/AMRE , aswell as the financial services company, AmericanPacific Bancorp .
By incubating and eventually spinning off companies, DSSdevelops companies like Impact Biomedical to increase shareholdervalue. All shareholders of record on June 30, will receive four (4)shares in Impact Biomedical to be distributed on July 14.
Learn more about what DSS, Inc. isdoing to support and spinoff businesses .
DSS is amultinational company operating businesses within nine divisions:Product Packaging, Biotechnology, Direct Marketing, CommercialLending, Securities and Investment Management, Alternative Trading,Digital Transformation, Secure Living, and Alternative Energy. DSSstrategically acquires and develops assets to enrich the value of itsshareholders through calculated IPO spinoffs and a parametric sharedistribution strategy. Since 2019, under the guidance of newleadership, DSS has built the necessary foundation for achievablegrowth through the formation of a diversified portfolio of companiespositioned to drive profitability in multiple high growth sectors.These companies offer innovative, flexible, and real-world solutionsthat not only provide mutual benefits for businesses and theircustomers, but also create sustainable value and opportunity fortransformation.
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