HENRIETTA, N.Y., June 07, 2022 (GLOBE NEWSWIRE) -- DSS, Inc. (“DSS” or the “Company”) (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 division of the Company’s wholly owned subsidiary Impact BioMedical, was granted a patent (No. 2020119933780) from the China National Intellectual Property Administration (“CNIPA”) for 3F™, a Functional Fragrance Formulation (3F™) technology that is effective as a mosquito repellant through a fragrant compound derived from botanical oils. This complements the corresponding U.S. patent granted (U.S. 11,246,310)
3F™ is an extremely effective mosquito repellant. The repellant is believed to incapacitate two of the three receptors that mosquitoes use to find sources of nutrition.
“While existing mosquito repellants target only the gustatory receptors in insects, 3F™ uses a multiple receptor approach by targeting ionotropic, gustatory and olfactory receptors in insects to provide a synergistic action to repel insects as well as inhibit the ability of insects to detect and seek prey,” says Daryl Thompson, Director of Scientific Initiatives at Global BioLife and founder of advanced research company GRDG Sciences, LLC (“GRDG”).
While 3F™ has far-reaching applications for everyday life, the most important application could be saving lives. According to the National Institutes of Health, mosquitos are responsible for more than a million deaths each year because they can host a variety of diseases including malaria, dengue, West Nile yellow fever, Zika, chikungunya, and lymphatic filariasis.
“3F™ is an innovative solution for real-world problems that can be integrated into a wide variety of everyday products by major brands,” said Frank Heuszel, President of Impact BioMedical. “The potential for this technology in the vast market of China is immense, and we look forward to executing a licensing and commercialization strategy around this product that drives strong value for our shareholders while positively impacting consumers in their everyday lives.”
The global mosquito repellant market was estimated at $6.9 billion in 2021 and expected to reach $10.9 billion by the end of 2028, according to data from Zion Market Research. China is a leading market globally for the sale of insect repellant products, with an increasing demand for plant-based insect repellants being a key driver of market growth in recent years, according to GMA, a Shanghai-based consumer marketing agency.
During the past year, Impact BioMedical has laid the groundwork for a future that is focused on scientifically tested, high-impact solutions to global problems that humans are facing from food preservation to antibiotics to creating new ways to develop medicines. Impact Biomedical and GRDG announced a U.S. patent (US 10,966,424) allowance for 3F™DB in June 2021.
About Impact BioMedical, Inc.
Impact BioMedical drives mission-oriented research, development, and commercialization of solutions for medical advances in human wellness and healthcare. By leveraging technology and new science with strategic partnerships, Impact BioMedical provides advances in drug discovery for the prevention, inhibition, and treatment of neurological, oncology and immuno-related diseases. Other exciting technologies include a breakthrough alternative sugar aimed to combat diabetes and functional fragrance formulations aimed at the industrial and medical industry. For more information on Impact BioMedical visit http://impbio.com/.
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.
Investor Contact:
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
DSS@redchip.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.
