Pacific Software Inc. Announces a Landmark Asset Acquisition from Dreamaderm Inc.
Pacific Software Inc. (OTC: PFSF) on February 26th announced the acquisition of certain business assets of Dreamaderm Inc., a pioneer in dermatological innovation.
DANA POINT, Calif., May 06, 2024 (GLOBE NEWSWIRE) — Pacific Software Inc. (“PFSF”) acquired certain assets of Dreamaderm Inc. (“Dreamaderm”) through a Plan of Acquisition, dated January 24, 2024. PFSF will now be the exclusive holder of a patented, first-in-class cosmeceutical asset, branded as Dermatrix. This groundbreaking technology boosts natural collagen production through a novel mechanism of action: preserving insulin within the skin. PFSF believes that Dermatrix will have broad utility for numerous dermatological applications, ranging from cosmetic treatments to acute and chronic wound care, and advanced medical aesthetics procedures.
Dermatrix prevents the breakdown of insulin by blocking the action of insulin-degrading enzyme (IDE), a peptidase that is abundant within the skin. Insulin directly stimulates collagen production, thus Dermatrix has the effect of maximizing the body’s own natural collagen-producing processes. By blocking IDE, Dermatrix also maintains the levels of other peptides vital to skin health and repair processes, such as keratinocyte growth and migration. By virtue of these unique properties, Dermatrix is ideal for a considerable variety of products in both the skin care and wound healing sectors.
Dermatrix is the result of over $6 million in research and development conducted over a period of two decades by Dr. Malcolm A. Leissring, chief science officer of Dreamaderm. Dr. Leissring is an award-winning biomedical researcher currently at the University of California, Irvine (UCI) who is a leading expert on the biology and pharmacology of IDE. The research was conducted at prestigious institutes, including Harvard Medical School, The Scripps Research Institute, Mayo Clinic, and UCI, culminating in a cosmeceutical that is ideally suited for topical use. As the assignee of the patent on Dermatrix, the Regents of the University of California will become an equity stakeholder in PFSF.
“We are excited to have acquired these assets of Dreamaderm,” stated Harrysen Mittler, CEO of PFSF. “As a publicly quoted company we expect to access the capital markets in order to implement and accelerate the innovative Dermatrix cosmeceutical technology and commercialize its retail offerings. The technology has the potential to create a new industry category promising significant growth in the cosmetics and skin care sector, creating value for shareholders.”
In 2023, Dreamaderm was selected as a finalist and invited to exhibit its Dermatrix technology at “Golden Passport Demo Day,” an aesthetics start-up competition program hosted by University Lab Partners and sponsored by Allergan Aesthetics, a division of AbbVie Inc. In January 2024, Dreamaderm was selected as one of six presenters at the Aesthetics Technology Forum (ATF), an annual event organized by the business accelerator, Octane OC, which featured a select audience of leading aesthetics and skin care companies, private aesthetics practitioners, as well as accredited investors.
Dr. Leissring, who will become president of PFSF, stated that “the significance of Dermatrix is difficult to overstate, because it represents an exciting new branch of pharmacology with great promise for an incredibly diverse variety of dermatological applications, both in aesthetics and in wound care.”
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimates,” “projects,” “intends,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, PFSF’s ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various scientific and manufacturing programs, changes in future customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond PFSF’s control. Except as may be required by law, Pacific Software, Inc. undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this release.
Contact Information:
Harrysen Mittler, CEO
Pacific Software Inc.
34145 Pacific Coast Hwy, Suite 196
Dana Point, CA 92629
Email: [email protected]
Website: http://www.dreamaderm.com/
