Never heard that name, but according to their safety data sheet [1] it is 95+ % dimethylformamide [2]. Not too different from acetone, with a additional dimethylamin group. Acetone-free nail polish remover usually contains primarily ethyl acetate [3] which is also structurally similar.
Wow, speaking of safety -- I just looked it up to see if Un-Cure superglue/CA debonder would be safe enough to use on hands, or would just cause the chemicals to be broken down and absorbed through the skin at a fast rate too (which I personally wouldn't want), and the initial results I see say that it's ok to use on hands. Wow again.
I sensitised my hands with a single exposure to acetone, and now even isoprop gives me painful flaky fingers for days. I wish I'd worn chemical gloves.
As a chemist it’s a highly polar, very high boiling point solvent that is the “go to” when you can’t find a solvent your reactants dissolve in.
Acetone is less polar, more chemically reactive and lower boiling point. It’s rarely used as a reaction solvent due to its reactivity, but it is common in crystallizations.
Both are quite non-toxic (your body makes small amounts of acetone!), but I recall a cancer risk with high exposures of DMF (the example was tannery workers who sprayed it without any safety gear and got soaked).