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The Path to a Regenerative Cure Le chemin vers un traitement régénérateur

The Path to a Regenerative Cure Le chemin vers un traitement régénérateur

Sernova is a regenerative medicine therapeutics company Sernova est une société de traitement en médecine régénérative

Developing therapeutics platform technologies to treat chronic diseases through a regenerative medicine approach. Sernova’s primary focus is the development of technologies for the treatment of patients with insulin-dependent (T1) diabetes, hemophilia A and thyroid disease. Développer des technologies de plate-forme thérapeutique pour traiter les maladies chroniques grâce à une approche de médecine régénérative. L’objectif principal de Sernova est la mise au point de technologies de traitement du diabète insulino-dépendant (T1), de l’hémophilie A et de la thyroïde.

About Sernova, Corp. À propos de Sernova, Corp.

Sernova is committed to the development and clinical advancement of its products for metabolic, hematological and other chronic diseases using therapeutic cells transplanted into a patented implanted medical device, which forms an organ-like environment promoting long-term function and survival of the therapeutic cells. Sernova s'engage dans le développement et l'avancement clinique de ses produits contre les maladies métaboliques, hématologiques et autres maladies chroniques utilisant des cellules thérapeutiques transplantées dans un dispositif médical implanté breveté, qui forme un environnement semblable à un organe favorisant la fonction et la survie à long terme des cellules thérapeutiques.

The company’s management believes in building strong and long-lasting collaborations and partnerships that would lead to the rapid advancement of Sernova’s portfolio of products into the market, improving global health and bringing value to patients and society, in concert with our clinical development programs. La direction de la société croit à la mise en place de collaborations et de partenariats solides et durables qui permettraient au portefeuille de produits de Sernova de progresser rapidement sur le marché, d’améliorer la santé mondiale et d’apporter une valeur ajoutée aux patients et à la société, de concert avec nos programmes de développement clinique.

Indications: Les indications:


Diabetes Diabète

Haemophilia A Hémophilie A

Thyroid disease Maladie thyroïdienne

Clinical studies: Etudes cliniques:


Diabetes US phase I/II clinical study cleared by the FDA Etude clinique de phase I / II sur le diabète, approuvée par la FDA

First-in-human study in Diabetic subjects with hypoglycemia unawareness Première étude chez l'homme chez des sujets diabétiques peu conscients de l'hypoglycémie

Cell Pouch System™


Sernova’s Cell Pouch System™ is a novel implantable and scalable medical device which forms a highly vascularized organ-like environment in the body for the housing, function and long-term survival of therapeutic cells. These therapeutic cells release necessary proteins or hormones missing from the body to treat chronic diseases as an alternative to daily administration of drugs. Le Cell Pouch System™ est un nouveau dispositif médical préalablement implanté et formant un environnement naturel hautement vascularisé afin d’y loger des cellules thérapeutiques, favorisant leur bon fonctionnement et leur survie dans le corps. Ces cellules thérapeutiques libèrent les protéines ou les hormones nécessaires pour traiter les maladies chroniques comme alternative a l’administration quotidienne de médicaments.


Immune Protection Protection immunitaire


We have shown that cells can be protected using medications that prevent immune system attack within the Cell Pouch™. Nous avons montré que les cellules peuvent être protégées en utilisant des médicaments qui empêchent les attaques du système immunitaire dans la Cell Pouch™.

Microencapsulation technologies house cells within the Cell Pouch chambers and protect the cells from immune system attack. Les technologies de microencapsulation hébergent les cellules dans les chambres à cellules et les protègent des attaques du système immunitaire.

Technologies are in development to make transplanted cells unrecognizable to the immune system. Des technologies sont en cours de développement pour rendre les cellules greffées méconnaissables du système immunitaire.

Sernova’s Cell Pouch™, combined with immune protected therapeutic cells, offers protection from immune system attack creating an effective, safe, long-term and convenient therapeutic option for patients with chronic diseases who seek to improve their quality of life. Le Cell Pouch™ de Sernova, associé à des cellules immunitaires protégées, offre une protection contre le système immunitaire avec une option thérapeutique efficace, sûre, à long terme et pratique pour les patients atteints de maladies chroniques qui cherchent à améliorer leur qualité de vie.


Featured News Nouvelles en vedette

October 5, 2023 5 October, 2023

Sernova Business Update

June 30, 2023 30 June, 2023

Marek Sutherland of CTV News London - Cure for type one diabetes getting closer, London company says

June 30, 2023 30 June, 2023

Noah Stansfield of CGT Live - Patients With T1D Achieve Insulin Independence Following Implantation of Cell Pouch System and Islet Transplant

June 28, 2023 28 June, 2023

Sean Whooley and Danielle Kirsh of Fast Five- Teleflex has a Class I recall, Boston Scientific appoints two new board directors (Sernova discussed in the podcast recording from 1:00-2:58 time marks)

June 26, 2023 26 June, 2023

Lei Lei Wu of EndPoints News - Sernova says five diabetes patients have now been taken off insulin after 'cell pouch' therapy

June 26, 2023 26 June, 2023

Shane Whooley of MassDevice - Sernova reports positive interim data for Cell Pouch System


News Releases Communiqués de presse

June 11, 2024 11 June, 2024

Sernova Announces Marketed Public Offering of Units

May 28, 2024 28 May, 2024

Sernova Appoints Jonathan Rigby to its Board of Directors

May 1, 2024 1 May, 2024

Sernova Announces AGM Voting Results

April 25, 2024 25 April, 2024

Sernova Provides Organizational Update

Invest with Sernova Investir dans Sernova

If you are a shareholder, investor, broker, analyst, journalist, investment advisor, or looking to develop business opportunities, please feel free to contact us by email or telephone. Si vous êtes actionnaire, investisseur, courtier, analyste, journaliste, conseiller en placement ou souhaitez développer des opportunités d’affaires, n'hésitez pas à nous contacter par email ou par téléphone.

Sernova is a regenerative medicine company developing therapeutic technologies with multibillion-dollar market potential for each of its clinical indications. Sernova est une société de médecine régénérative développant des technologies thérapeutiques offrant un potentiel de marché de plusieurs milliards de dollars pour chacune de ses indications cliniques.

 

Diabetes patients Patients diabétiques

 

Hemophilia Orphan Indication Indication orpheline de l'hémophilie

 

Sernova is traded on: Sernova est échangé sur:

Sernova is a Collaborative Team Sernova, c’est aussi les collaborations

We believe in advancing our clinical programs and building strong and long-lasting collaborations and partnerships that will lead to the rapid advancement of Sernova’s portfolio of products into the market, improving global health and bringing value to patients and society. Nous croyons en la promotion de nos programmes cliniques et en la mise en place de collaborations et de partenariats solides et durables qui permettront au portefeuille de produits de Sernova de progresser rapidement sur le marché, d'améliorer la santé mondiale et d'apporter de la valeur aux patients et à la société.

 

Privacy PolicyPolitique de confidentialité

Updated July 6, 2018

Please read this Policy carefully along with our Legal Notice that describes our Terms of Use for the Website.

By accessing www.sernova.com (the “Website”) you hereby agree with the practices described in this Privacy Policy (the “Policy”)

This Policy applies to all information gathered through the Website and/or any related marketing technique or events.



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The information collected is limited to the information that you decide to share with us through the News Dispatch Service, when participating at event or activities or in the general course of business by expressing an interest in obtaining information about Sernova Corp. and our products, such as name, email, phone number, and similar contact information. This information is stored through MailChimp (please refer to MailChimp Privacy Policy at https://mailchimp.com/legal/privacy/).



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Sernova Corp. is the sole owner of any information collected on the Website. We do not sell, share or rent this information to others.



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Sernova Corp. maintains log files of the traffic on www.sernova.com. This information is not linked to any personal information that you have provided us. Logs are used to manage traffic, identify content accessed, and IT requirements. Information logged and automatically collected includes without being limited to IP addresses and browser types. This information does not reveal your specific identity.



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Updates

This Policy is a living document and may be amended or updated from time to time without further notice. We encourage you to review the Policy periodically.



Contact

If you have any questions or comments about our policy, you can email us at info@sernova.com or by phone at 1(877) 299-4603 or by mail at

Sernova Corp.
700 Collip Circle, Suite 114
London, ON Canada N6G 4X8

Mis à jour le 6 juillet 2018

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Contact

Si vous avez des questions ou des commentaires sur notre politique, vous pouvez nous envoyer un courriel à info@sernova.com ou par téléphone au 1 (877) 299-4603 ou par courrier à

Sernova Corp.
700 Collip Circle, Suite 114
London, ON Canada N6G 4X8

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Press Release Communiqué de presse - June 11, 2024 11 June, 2024

Sernova Announces Marketed Public Offering of Units


NEWS RELEASE Sernova Announces Marketed Public Offering of Units

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

LONDON, Ontario; BOSTON, Massachusetts – June 6, 2024, Sernova Corp. (“Sernova” or the “Company”) (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH) is pleased to announce that it has filed a preliminary short form prospectus in connection with a best efforts marketed public offering (the “Offering”) of units of the Company (the “Units”). The Offering is being led by Stifel Nicolaus Canada Inc., as lead agent (the “Lead Agent”) and joint bookrunner with Leede Jones Gable Inc., on behalf of a syndicate of agents that includes Ventum Financial Corp., Raymond James, Research Capital Corporation and Roth Canada, Inc. (together with the Lead Agent, the “Agents”) and is for minimum gross proceeds of $6,500,000 and up to maximum gross proceeds of $10,000,000. Each Unit will be offered at a price of $0.33 per Unit (the “Offering Price”), and shall consist of one (1) common share of the Company (each, a “Common Share”) and one (1) Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share (each, a “Warrant Share”) at an exercise price of $0.40 per Warrant Share for 36 months. It is expected that a definitive agency agreement will be entered into between the Company and the Agents following the successful marketing of the Offering.

The Company has agreed to grant the Agents an option (the “Over-Allotment Option”) to sell up to an additional number of Units at the Offering Price as is equal to 15% of the number of Units issued pursuant to the Offering, exercisable in whole or in part, at any time and from time to time on or prior to the date that is 30 days following the Closing Date (as defined below) to cover over-allotments, if any, and for market stabilization purposes. The Over-Allotment Option shall be exercisable for any number of Units, Common Shares, Warrants, or any combination thereof at a price equal to the Offering Price for a Unit and a price to be agreed upon for the Common Shares and Warrants.

The Company plans to use the net proceeds from the offering to expand enrollment in the Company’s phase I/II Human Donor Islet clinical study, to support the Company’s R&D activities and for general corporate purposes. In addition Sernova would like to announce that Evotec SE, its largest shareholder and collaboration partner, will participate in the offering.

The Offering is scheduled to close on or about June 20, 2024 (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange (the “Exchange”).

A preliminary short form prospectus containing important information relating to the Offering has been filed with the securities regulatory authorities in each of the provinces in Canada, other than the Province of Québec, and is still subject to completion or amendment. The preliminary short form prospectus is available via SEDAR+ at www.sedarplus.ca. Alternatively, the Company, any Agent or any dealer participating in the Offering will arrange to send you the preliminary short form prospectus upon request from the Lead Agent at ecmcanada@stifel.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws and may not be offered or sold to or for the account or benefit of persons in the “United States” or “U.S. persons” (as such terms are defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ABOUT SERNOVA AND ITS CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead technology, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells.

On implantation, the Cell Pouch forms a natural, vascularized tissue environment in the body allowing long- term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago.

Sernova partnered with Evotec to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin- producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova’s development pipeline that uses its Cell Pouch System also includes: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

For further information, please contact:

Christopher Barnes VP, Investor Relations Sernova Corp. christopher.barnes@sernova.com 519-902-7923 www.sernova.com

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Press Release Communiqué de presse - May 28, 2024 28 May, 2024

Sernova Appoints Jonathan Rigby to its Board of Directors


Sernova Appoints Jonathan Rigby to its Board of Directors

LONDON, Ontario; BOSTON, Massachusetts – May 28, 2024 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage biotechnology company focused on the development of regenerative medicine cell therapies for treatment of chronic diseases, announces today that Jonathan Rigby will join Sernova’s Board of Directors effective immediately.

“We are excited to welcome Jonathan to Sernova’s Board of Directors. With more than 30 years of diverse experience across the biopharmaceutical landscape, Jonathan brings a track record of substantial contributions across our sector as a biotech CEO and Board member. He will both complement and augment the expertise and composition of our current Board,” said Cynthia Pussinen, Chief Executive Officer of Sernova. “We welcome Jonathan’s passion for improving the lives of patients and his guidance on accelerating delivery of our development programs.”

Mr. Rigby has a breadth of industry knowledge and productive experience having served as President and CEO of Revolo Biotherapeutics where he took the company through multiple financings and two Phase 2 clinical trials, as well as serving as Chairman and Chief Business Officer of BIOS Acquisition Corporation (NASDAQ: BIOS), with an oversold IPO. Mr. Rigby served as the CEO for SteadyMed Therapeutics (NASDAQ: STDY), which he listed on Nasdaq prior to its acquisition by United Therapeutics (NASDAQ: UTHR), and was co-founder of Zogenix (NASDAQ:ZGNX), which was also acquired by UCB (Euronext: UCB) after completing a NASDAQ listing.

In addition, Mr. Rigby currently serves on the Board of Directors of cancer therapy company Oncolytics Biotech Inc. (NASDAQ: ONCY) and IM Therapeutics which is developing therapies for Type 1 diabetes (T1D). He is a past Board Member of Thermalin Inc., which engineered new forms of insulin to improve patient lives and outcomes for the treatment of T1D and was formerly on the board of Xeris Pharmaceuticals (NASDAQ: XERS) which developed and commercialised a therapy to treat T1D severe hypoglycemia. Mr. Rigby holds a degree in Biological Sciences from the University of Sheffield, UK, and has a Master of Business Administration degree from the University of Portsmouth, UK.

“As an individual with T1D, I am acutely aware of the challenges of living with this life changing condition and the need to effectively cure the disease. Given Sernova’s vision of a future where chronic conditions are no longer insurmountable obstacles, and their foundational work on delivering a ‘functional cure’ for T1D, I am especially excited to join the Board and work hard to progress the company forward. Sernova represents a new era of development for cell therapy treatments and I look forward to working with the Board and the leadership team in advancing Sernova’s groundbreaking technology and therapies,” said Mr. Rigby.

ABOUT SERNOVA AND ITS CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead technology, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova partnered with Evotec to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova’s development pipeline that uses its Cell Pouch System also includes: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT: Christopher Barnes VP, Investor Relations Sernova Corp. Tel: +1 519-902-7923 Email: christopher.barnes@sernova.com Website: www.sernova.com

FORWARD-LOOKING INFORMATION

This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedarplus.ca for additional information on risks and uncertainties relating to the forward- looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - May 01, 2024 1 May, 2024

Sernova Announces AGM Voting Results


SERNOVA ANNOUNCES AGM VOTING RESULTS

LONDON, Ontario; BOSTON, Massachusetts – May 1, 2024, Sernova Corp. (“Sernova” or the “Corporation”) (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH) a clinical-stage biotechnology company focused on the development of regenerative medicine cell therapies for treatment of chronic diseases, is pleased to announce results from its Annual General Meeting of Shareholders (the “AGM”) held virtually via live audio webcast, on April 30, 2024. At the Meeting, a total of 88,316,160 common shares were voted, representing 29.11% of the votes attached to all outstanding common shares as of the record date. The voting results were as follows:

Director% of Votes For% of Votes Against
Cynthia Pussinen95.62%4.38%
James T. Parsons98.63%1.37%
Dr. Steven Sangha96.43%3.57%
Brett A. Whalen73.91%26.09%




Accordingly, Cynthia Pussinen, James T. Parsons, Dr. Steven Sangha and Brett A. Whalen were elected to the board of directors for the ensuing year. In addition, Bernd Muehlenweg was appointed to the board of directors following the AGM. Bertram von Plettenberg resigned from the board of directors prior to the AGM and did not stand for election at the AGM.

Shareholders also approved (with 99.79% of the votes approving) the re-appointment of KPMG LLP, Chartered Professional Accountants as the Company’s auditor for the ensuing year, and approved (with 82.57% of the votes approving) the amendments to the Option Plan and DSU Plan and the increase in the maximum number of Common Shares reserved for issuance.

ABOUT SERNOVA AND ITS CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead technology, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells.

On implantation, The Cell Pouch forms a natural, vascularized tissue environment in the body allowing long- term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago.

Sernova partnered with Evotec to develop an implantable o􀆯-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin- producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova’s development pipeline that uses its Cell Pouch System also includes: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Christopher Barnes VP, Investor Relations Sernova Corp. christopher.barnes@sernova.com 519-902-7923 www.sernova.com

FORWARD-LOOKING INFORMATION

This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to di􀆯er materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedarplus.ca for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - April 25, 2024 25 April, 2024

Sernova Provides Organizational Update


Sernova Provides Organizational Update

• Dr. Philip Toleikis to retire as of April 30, 2024

• Cost savings from restructuring and strategic transformation anticipated to extend runway

• Board rebuild underway

LONDON, Ontario; BOSTON, Massachusetts – April 25, 2024 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage biotechnology company focused on the development of regenerative medicine cell therapies for treatment of chronic diseases, today announced the retirement of Chief Technology Officer (CTO), Dr. Philip Toleikis along with progress on strategic transformation efforts including a restructuring of operations and a workforce reduction of approximately 35%.

Commenting on his retirement, Dr. Toleikis said, “It has been a tremendous honor and privilege to serve Sernova since 2009, initially as the President, CEO and director, and more recently as its CTO. Significant progress has been made and there is exciting work ahead that I am confident will be realized by the team, under the guidance of our CEO, Ms. Pussinen.” Dr. Toleikis further states, “I am pleased to provide continued support to Sernova as a consultant. I am proud of the Company’s advancements towards redefining the way chronic diseases will be treated using a cell therapy-based approach while importantly contributing to improving the lives of those living with chronic diseases.”

“Philip’s contributions to Sernova’s research and development, and fund-raising efforts have been foundational to the Company’s evolution into a next-generation regenerative medicine company,” said Brett Whalen, Chairman of the Sernova Board. “He will leave a company which is well-positioned to foster the next wave of innovations in stem cell therapies. On behalf of the Board of Directors and the entire company, I would like to thank Dr. Philip Toleikis for his contributions and unwavering dedication to the Company. We wish him all the best for his future.”

As communicated in early April, following a review of the company’s therapeutic pipeline and emerging opportunities for its Cell Pouch system platform technologies, Sernova confirmed key priorities including its lighthouse program in insulin dependent Type 1 Diabetes plus its intention to advance an IND filing for its post- operative hypothyroidism program. “The pipeline and platform review and associated strategy refresh highlighted several ways by which to optimize financial resources, extending the Company’s cash runway. We continue to seek ways to raise additional capital to strengthen our financial foundation,” said Cynthia Pussinen, Chief Executive Officer of Sernova. “In connection with the strategic transformation, we will pause on any new investments into the conformal coating program to reallocate funds. In parallel, we continue to evaluate alternative approaches to obviate the need for immunosuppressive regimens for our allogeneic therapies.”

Sernova has implemented a plan to fortify the balance sheet and cash position, including a workforce restructuring, representing a key step towards streamlining the organization while ensuring the ability to secure core competencies needed to drive further progress in key clinical and pre-clinical assets. “Decisions to scale back or to rebalance headcount are extremely difficult. I want to express my heartfelt appreciation and gratitude to those impacted for their invaluable contributions, dedication to helping patients and impact to furthering the Company’s vision of a future where chronic conditions are no longer insurmountable obstacles”, said Ms. Pussinen.

The Company confirms the completion and closure of all internal investigation efforts, previously announced with respect to its former CFO and potentially a second employee of the Company. No new findings were revealed and there will be no further action on the matter. The investigation confirmed that there have been no securities violations and that findings bore no material impact to financial statements and operations.

Lastly, Sernova Director Mr. Bertram von Plettenberg has retired from the Company’s Board, effective April 23rd. “The Board and Management sincerely thank Mr. von Plettenberg for his past year of service to the Company, and wish him well in future endeavors,” said Ms. Pussinen. “The evolution and composition of the Board will continue, as we look to enhance our life sciences industry specific strength, to better serve our patients and shareholders.”

ABOUT SERNOVA’S ANNUAL GENERAL MEETING

Sernova’s Annual General Meeting will be held on Tuesday April 30, 2024 starting at 1:00 PM ET. The meeting will be conducted virtually, via live webcast and accessible online at https://virtualmeetings.tsxtrust.com/1571.

Please note that this site may not be fully accessible on all internet browsers, and it is advisable to use a browser other than Internet Explorer for optimal experience. If you are unable to join the meeting through your usual web browser, we suggest trying an alternate browser.

For investors who wish to submit questions via the TSX Trust portal voting control numbers will be needed. For attendees who would simply like to listen to the meeting conduct, you can register as a guest.

ABOUT SERNOVA AND ITS CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead technology, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells.

On implantation, The Cell Pouch forms a natural, vascularized tissue environment in the body allowing long- term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago.

Sernova partnered with Evotec to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin- producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova’s development pipeline that uses its Cell Pouch System also includes: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A. FOR FURTHER INFORMATION, PLEASE CONTACT: Christopher Barnes VP, Investor Relations Sernova Corp. Tel: +1 519-902-7923 Email: christopher.barnes@sernova.com Website: www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedarplus.ca for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - April 22, 2024 22 April, 2024

Sernova Welcomes Dr. Bernd Muehlenweg as Evotec’s Nominee for its Board of Directors


Dr. Daniel Mahony to step down to pursue new commitment

LONDON, Ontario; BOSTON, Massachusetts – April 22, 2024 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage biotechnology company focused on the development of regenerative medicine cell therapies for treatment of chronic diseases, announces today that Dr. Bernd Muehlenweg, Senior Vice President of Global Business Development at Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO), has been appointed to its Board of Directors. Evotec recently shared that due to the impending departure of Dr. Daniel Mahony, its current Sernova Board delegate, who is leaving to pursue a new professional undertaking, they would be nominating a new Board representative. With heartfelt gratitude, we wish Dan all the very best in his future endeavors.

Dr. Muehlenweg will join Sernova’s Board of Directors effective immediately. Sernova expects the brief period of overlap with Dr. Daniel Mahony will assist in the transition bringing Dr. Muehlenweg rapidly up to speed on Sernova’s operational and strategic matters.

Bernd Muehlenweg's work experience includes various senior leadership positions in the biotech and pharmaceutical industry with a concentration on business development and alliance management roles. At Evotec, he leads the company's partnering and out-licensing efforts in their focus areas including iPSC-based Cell Therapy, Panomics-driven drug discovery, Oncology, Immunology & Inflammation, Infectious Diseases, Predictive Safety and Enabling Technologies.

Prior to joining Evotec, he held the position of Chief Business Officer and served on the Executive Board of Nanobiotix, a French clinical stage oncology company. Bernd co-founded Panoptes Pharma GmbH, an Austrian biotech company focused on developing therapies for eye diseases, which was later acquired by Eyegate Pharmaceuticals. Additionally, at Wilex AG, he played a key role in the company's growth and expansion. He began his career as a Group Leader at the Technical University of Munich, Germany.

Bernd Muehlenweg graduated with a Ph.D. from the oncology research group at the Department of Gynecology at the Technical University of Munich in 2000. He further attended management classes at the Switzerland based St. Galler Business School in 2006. “Sernova’s Cell Pouch and Evotec’s iPSC derived islet like clusters are a powerful combination, offering a potential functional cure for type 1 diabetes (T1D) in the not-too-distant future. My personal goal is to foster sustainable, fruitful and durable partnerships to advance scientific innovations into approved treatments. I have tremendous confidence that the strategic collaboration between Evotec and Sernova will provide a strong foundation to potentially achieve this objective” said Bernd Muehlenweg, Sernova’s new Board Director. “At Sernova, we will continue to pursue opportunities to improve the lives of patients with unmet needs while building long-term value for shareholders in multiple ways. I cannot stress enough the importance of the Cell Pouch System as the anchor for our ongoing T1D trial. In addition to its longterm payload survival, containment and retrievability characteristics, we believe that the Cell Pouch is a key differentiator in delivering clinically meaningful outcomes, including insulin independence and normalized HbA1c counts amongst others, to several patients in our ongoing Phase 1/2 trial. We are pleased to welcome Bernd as he joins us on our mission to build a future where chronic conditions are no longer insurmountable obstacles.” said Cynthia Pussinen, CEO of Sernova.

ABOUT SERNOVA AND ITS CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead technology, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells.

On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago.

Sernova partnered with Evotec to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova’s development pipeline that uses its Cell Pouch System also includes: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Christopher Barnes VP, Investor Relations Sernova Corp. Tel: +1 519-902-7923 Email: christopher.barnes@sernova.com Website: www.sernova.com

FORWARD-LOOKING INFORMATION

This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedarplus.ca for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - April 02, 2024 2 April, 2024

Sernova Provides Positive Clinical and Platform Portfolio Update


Sernova Provides Positive Clinical and Platform Portfolio Update

  • Type 1 diabetes (T1D) Cohort 2 patient data demonstrates favorable islet engraftment and long-term survival of human donor islets in the Cell Pouch
  • First treated Cohort 1 patient in the T1D clinical trial to celebrate four years of insulin independence and normalized HbA1c
  • With recent positive findings in post-surgical hypothyroidism large animal study, Sernova anticipates filing an Investigational New Drug (IND) application in 2024
  • Additional chronic disease indications identified for further pipeline expansion with a focus on endocrine disorders


  • LONDON, Ontario; BOSTON, Massachusetts – April 2, 2024 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage biotechnology company focused on the development of regenerative medicine cell therapies for treatment of chronic diseases, today provided a business update. Following a review of the company’s therapeutic pipeline and emerging opportunities for its Cell Pouch system platform technologies, Sernova confirms key priorities including its lighthouse program in insulin dependent Type 1 Diabetes plus its intention to advance an IND filing for its post-operative hypothyroidism program.



    Data from a patient in Cohort 2 of the company’s lead clinical program for insulin dependent Type 1 diabetes (T1D) confirms histologic evidence of long-term (one year) robust survival of abundant human donor islets throughout the Cell Pouch. Additional Cohort 2 findings are specific to an advanced immunosuppression regimen planned for use in its upcoming Phase I/II trial with stem cell-derived islets under co-development with Evotec.



    Cohort 2 patients treated with an advanced immunosuppression protocol avoided graft rejection and experienced minimal side e􀆯ects in comparison to those patients observed in Cohort 1. None of the six patients in Cohort 2 treated with the advanced regimen have tested positive for donor specific antibodies (DSAs), a marker of graft rejection, in comparison to three of six patients who developed DSAs under the conventional immunosuppression regimen in Cohort 1. Ancillary medication, used in some Cohort 2 patients, demonstrated highly favorable graft survival and function for islets transplanted to the Cell Pouch and has been integrated into the updated regimen and implemented for all subsequent patient trial enrollments. The company anticipates reporting additional data from Cohort 2 of its ongoing Phase 1/2 clinical trial of its expanded 10-channel Cell Pouch during the second half of the year at major medical conferences. Sernova is pleased to report that this month marks the four-year anniversary of the first patient in Cohort 1 of this Phase 1/2 study who will celebrate insulin independence and normalized blood sugar levels, based on two transplants of human donor islets to the Cell Pouch plus a marginal portal vein top up.



    “Based on the favorable results we are observing in ongoing pre-clinical studies, we have concluded that our hypothyroidism program represents another compelling opportunity by which to improve patients’ lives. We look forward to completing our pre-clinical work, engaging with regulatory agencies, and preparing for an IND filing later this year, with the goal of advancing a second indication into the clinic, further demonstrating the Cell Pouch as a drug delivery vehicle platform technology. Also of note, in addition to allowing for long term payload survival, our Cell Pouch has powerful containment and retrievability capabilities that we expect will have tremendous value for pharmaceutical companies looking to treat patients with cell therapies,” said Cynthia Pussinen, Chief Executive O􀆯icer of Sernova.



    “In parallel with these activities, and our ongoing hemophilia A work, we have identified several high value indications with unmet medical needs that could potentially benefit from our platform Cell Pouch technology, with an initial focus on endocrine disorders. In the coming months, we will be conducting commercial assessments to prioritize those areas where we can best extend our reach to more patients while creating enduring value for our shareholders. I am excited for what we are poised to achieve this year and look forward to providing further updates in the future,” Ms. Pussinen concluded.



    ABOUT SERNOVA AND ITS CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY



    Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead technology, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago.



    Sernova partnered with Evotec to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova’s development pipeline that uses its Cell Pouch System also includes: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.



    FOR FURTHER INFORMATION, PLEASE CONTACT:

    • Christopher Barnes
    • VP, Investor Relations
    • Sernova Corp.
    • Tel: +1 519-902-7923
    • Email: christopher.barnes@sernova.com
    • Website: www.sernova.com



    FORWARD-LOOKING INFORMATION



    This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to di􀆯er materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedarplus.ca for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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    Press Release Communiqué de presse - March 11, 2024 11 March, 2024

    Sernova Announces Management Developments


    LONDON, Ontario; BOSTON, Massachusetts – March 11, 2024 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company focused on providing regenerative medicine therapeutics to patients with chronic conditions, today announced that Nicholas J. Rossettos, CPA has joined Sernova on a consulting basis as interim Chief Financial Officer (CFO).

    With a wealth of experience in financial leadership within the biotech industry, Nick brings a fresh perspective and a strong track record of success to the Sernova team during this transition period. The company has initiated a formal search for a permanent CFO and is also actively recruiting additional talent to fill key leadership roles and strengthen its senior executive team, which started with the additions of Cynthia Pussinen as the Chief Executive Officer and Modestus Obochi as Chief Business Officer. The goal is to ensure that Sernova has the expertise to execute its strategic vision and drive the company forward by delivering life- changing therapies to patients worldwide.

    David Swetlow, Chief Financial Officer, is no longer with the company. Mr. Swetlow’s employment was terminated for cause after the Board received and considered findings made by independent legal counsel in connection with an ongoing investigation into alleged misconduct. Another senior officer of the company has been placed on administrative leave pending the final outcome of the investigation. None of the allegations, if substantiated, are expected to materially change or impact the Company's financial statements or its reporting obligations. The Sernova mission remains unchanged: to improve the lives of patients through groundbreaking innovation and compassionate care. The board and the senior leadership team are deeply grateful for the dedication and hard work of the Company’s employees, partners, and stakeholders, and remains steadfast in its commitment to maintaining the highest standards of integrity, transparency, and accountability in all aspects of our operations.

    ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

    Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

    FOR FURTHER INFORMATION, PLEASE CONTACT: Christopher Barnes VP, Investor Relations Sernova Corp. christopher.barnes@sernova.com Tel: 519-902-7923 www.sernova.com

    FORWARD-LOOKING INFORMATION

    This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedarplus.ca for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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    Press Release Communiqué de presse - January 29, 2024 29 January, 2024

    Sernova Provides Recap of 2023 Accomplishments and Anticipated 2024 Milestones


    - Recently completed recruitment of all 7 patients in Cohort 2

    - Anticipates additional data from Cohort 2 of Phase 1/2 clinical trial evaluating its enhanced 10-channel Cell Pouch in patients with type 1 diabetes (T1D) in Q1/24

    - Expects to report preclinical data supporting an IND application to evaluate the use of therapeutic cells in combination with Cell Pouch in patients with post-operative hypothyroidism

    LONDON, Ontario; Boston, Massachusetts – January 29, 2024 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, today provided a business update, including a recap of 2023 accomplishments and a preview of certain milestones anticipated in 2024.

    “In 2023, we added to the compelling and expanding set of data demonstrating the safety and efficacy of our novel cell therapy platform for chronic diseases, including our higher capacity 10-channel Cell Pouch that is being evaluated in our ongoing Phase 1/2 human donor islet clinical trial in T1D,” said Cynthia Pussinen, Chief Executive Officer of Sernova. “We also made significant progress with our hemophilia A program, including receipt of both Orphan Drug and Rare Pediatric Disease designations from the U.S. Food and Drug Administration (FDA). Lastly, we announced an exciting preclinical research collaboration with AstraZeneca that has the potential to significantly expand the use of the Cell Pouch in additional high-value indications.”

    “Looking ahead to 2024, we anticipate additional patient data from Cohort 2 of our T1D human donor islet trial, as well as important data from our thyroid disease program as we work to further our preclinical pipeline. We continue to advance plans for our next T1D Phase 1/2 clinical study utilizing Evotec’s iPSC-derived islet like clusters (ILCs) in our Cell Pouch. Use of iPSCs provides significant advantages over human donor islets, including the ability to scale this promising treatment to commercially viable levels enabling the treatment of millions of patients. Throughout 2024 our strategic partner, Evotec, will continue to optimize and advance the development of iPSC derived ILCs for use in additional IND enabling studies and clinical trials. Given the complexity around scaling-up of iPSCs and therapeutic cell manufacturing, as well as the relative nascency of the entire advanced therapeutics field, timelines have extended, and we now anticipate initiating a clinical trial evaluating our Cell Pouch with iPSC-derived ILCs in the fourth quarter of 2025.” Ms. Pussinen added.

    “I am encouraged with our progress and believe we have built a solid foundation consisting of a portfolio of fundamentally transformational medical treatments for patients living with chronic conditions that will result in multiple potentially value-creating milestones this year and next,” Ms. Pussinen concluded. 2023 Achievements:

    • Announced senior leadership additions, including Cynthia Pussinen as new Chief Executive Officer, and Dr. Modestus Obochi, Ph.D., MBA, as Chief Business Officer

    • Received both Orphan Drug Designation (ODD) and Rare Pediatric Disease Designation (RPDD) from the U.S. FDA for the Company’s hemophilia A program

    • Announced positive interim data from Cohorts 1 and 2 of the ongoing Phase 1/2 human donor islet clinical trial of its Cell Pouch System™ in patients with T1D at the 2023 IPITA-IXA-CTRMS Joint Congress. Notably, five of the six patients in Cohort 1 were able to discontinue insulin therapy following islet transplantation, and all six patients achieved HbA1c values in the non-diabetic range (<6.5%). In Cohort 2, the first six of seven planned patients received the higher capacity 10-channel Cell Pouch and five patients received a first islet transplant. Stable fasting and stimulated serum C-peptide levels were observed following a single islet transplant into the 10-channel Cell Pouch in the first assessable Cohort 2 patient who subsequently achieved insulin independence with a modest portal vein top-up.

    • Announced positive results from its conformal coating immune protection technology program that is used in combination with the Cell Pouch System™ and is intended to eliminate the need for chronic immunosuppression medications.

    • Presented preclinical data supporting the planned Phase 1/2 clinical trial of Evotec’s “off-the-shelf” iPSC- derived ILCs in combination with Sernova’s Cell Pouch System for the treatment of patients with T1D. Specifically, data demonstrated that Evotec’s iPSC-derived ILCs generated robust and durable insulin independence with blood C-peptide levels and glucose tolerance test results equivalent to a test group with human islets. A separate study showed sustained normalization of blood sugar levels in diabetic mice throughout the 320-day term of the study. Human testing is anticipated to begin in late 2025.

    • Announced a research collaboration with AstraZeneca to evaluate the use of Sernova’s Cell Pouch System in combination with AstraZeneca’s novel therapeutic cells for various indications. The discovery work is being funded and conducted by AstraZeneca.

    • Completed recruitment of all 7 patients in Cohort 2 of the ongoing Phase 1/2 trial using the 10-channel Cell Pouch.

    Anticipated Select 2024 Milestones:

    • Additional data from Cohort 2 of the ongoing U.S. Phase 1/2 clinical trial, which is evaluating its enhanced 10-channel Cell Pouch in patients with T1D, are expected beginning in Q1.

    • Additional preclinical data to support an IND application to evaluate the Company’s autograft thyroid cells in patients suffering from thyroid disease, with no immunosuppressive regimen required.

    • Completion of thyroid disease market study validating the current market size and detailing the unmet medical need.

    • Potential engagement with additional life sciences focused companies, academic institutions and external parties through partnership and collaboration opportunities, which could be announced over the course of 2024.

    • Additional funding to support growth through strategic alliances, credit facilities and/or institutional equity financings with the goal of maximizing shareholder value.

    Fiscal Year 2023 Financials

    Today, Sernova filed its financial results on SEDAR for the fiscal year 2023.

    ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

    Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A. FOR FURTHER INFORMATION, PLEASE CONTACT: Christopher Barnes VP, Investor Relations Sernova Corp. christopher.barnes@sernova.com Tel: 519-902-7923 www.sernova.com

    FORWARD-LOOKING INFORMATION

    This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. Forward looking statements in this news release include, without limitation, statements relating to the timing of clinical trials, the timing with respect to the receipt of data from on-going clinical trials, timing with respect to preclinical data, the completion of thyroid disease market study, statements with respect to the potential future engagement with additional universities, life sciences focus companies and external parties and the timing thereof.

    These statements reflect the current expectations, assumptions and beliefs of management currently available to it on the date such statements were made, including Sernova’s ability to secure additional financing and licensing arrangements; the timing with respect to the engineering and scaling-up of Sernova’s technologies; the ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies; the timing and results of preclinical and clinical trials; the ability to obtain all necessary regulatory approvals on a timely basis; the ability to in-license additional complementary technologies; and the ability of Sernova to execute its business strategy, attract additional partners and successfully compete in the market.

    Although the Company believes that the assumptions inherent in these forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be placed on such statements. Forward-looking statements are subject to a number of risks and uncertainties, some that are similar to biotechnology companies and some that are unique to Sernova. The actual results may differ materially from those expressed or implied by the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Sernova. Sernova’s annual information form dated January 29, 2024, its annual management's discussion and analysis for the year ended October 31, 2023, and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge by referring to the company's profile on SEDAR+ at www.sedarplus.ca. All forward-looking statements speak only as of the date on which they were made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise.

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    Press Release Communiqué de presse - November 27, 2023 27 November, 2023

    Sernova Receives Orphan Drug and Rare Pediatric Disease Designations for its Hemophilia A Program from FDA


    Sernova announces research collaboration with Professor Antonia Follenzi, expert in hemophilia A at the University of Piemonte Orientale

    LONDON, Ontario; WINDHAM COUNTY, Connecticut – November 27, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, today announced the U.S. Food and Drug Administration (FDA) has granted both Orphan Drug Designation (ODD) and Rare Pediatric Disease Designation (RPDD) for the company’s Hemophilia A program.

    The FDA grants orphan designation, also referred to as orphan status, to therapies intended for the treatment of rare diseases that affect fewer than 200,000 people in the US. This designation provides certain benefits, including tax credits for qualified clinical testing, waiver or partial payment of FDA application fees and seven years of market exclusivity, if approved. Separately, rare pediatric disease designations are granted for rare diseases that primarily affect children under 18 years old with recipients of this designation being awarded a priority review voucher, upon approval. The priority review voucher may be redeemed, transferred, or sold.

    “We are pleased with the FDA’s decision to grant these designations for our novel treatment for Hemophilia A, which uses the Cell Pouch™ in combination with cells corrected for the production of Factor VIII,” commented Cynthia Pussinen, Chief Executive Officer of Sernova. “Hemophilia A is a serious, life limiting condition and we are committed to advancing development of the program, with a hope to positively impact patients around the world who are waiting for improved treatments.”

    About Sernova’s Hemophilia A Cell Pouch System Program

    Sernova’s Hemophilia A program combines the Sernova Cell Pouch™ with a patient’s own cells and will not require the use of immunosuppression medications. This therapy is intended to replace Factor VIII (FVIII) - an essential blood-clotting protein that is deficient or absent in patients with hemophilia A; this is accomplished by correcting the patient’s own Blood Outgrowth Endothelial Cells (BOECs) and subsequently returning them to the patient via the Cell Pouch™. These modified cells function to release FVIII into the bloodstream, restoring the patient’s ability for clotting during periods of bleeding.

    Sernova and research partners, through a Horizon 2020 grant which is part of the EU's research and innovation funding program in proof-of-concept work, successfully corrected human blood cells from patients with hemophilia A to produce Factor VIII using a novel first-in-class gene and cell therapy approach where the corrected cells were transplanted into the pre-implanted, vascularized Cell Pouch in a preclinical model of Hemophilia A. The work demonstrated an improvement in blood clotting using the combined technologies (Efficient and safe correction of hemophilia A by lentiviral vector-transduced BOECs in an implantable device; Molecular Therapy: Methods & Clinical Development Vol.23, Dec 2021).

    Collaboration with the University of Piemonte Orientale

    The company is pleased to announce a collaboration with the University of Piemonte Orientale, Italy under the direction of Antonia Follenzi MD, Ph.D. Professor of Histology and Cell and Gene therapy. Dr. Follenzi is a pioneer of cell and gene therapy approaches to cure Hemophilia A. Her laboratory has expertise in the generation of BOECs from Hemophilic patients and correcting the FVIII gene using Lentiviral vectors.

    The purpose of the new collaboration is to optimize the technology using lentiviral vectors to drive the expression of FVIII transgene under the control of novel promoters into BOECs of hemophilia patients to achieve optimal sustained production of FVIII using an optimized cell dose within the Cell Pouch in an animal model of Hemophilia A. The overall goal of the collaboration is to develop a product combination along with pre-clinical results that support advancing into clinical trials in patients with Hemophilia A.

    Professor Follenzi stated, “I am pleased to be working with the Sernova team on these advanced technologies for a new and safe treatment of patients with Hemophilia A using a gene and cell therapy approach within the Cell Pouch. Our goal is to advance these new technologies to further maximize the release of FVIII into the bloodstream and to extend the duration of that release for a sufficient duration of time to eliminate the need for weekly infusions of FVIII and to significantly improve the lives of people with Hemophilia A.”

    BENEFITS OF ODD AND RPDD

    Combined benefits of these designations include exclusive marketing rights for a seven-year period, after marketing approval, a 25% federal tax credit for clinical research expenses incurred in the US which is applicable for up to 20 years, waiver of Prescription Drug User Fee Act (PDUFA) fees for orphan drugs (currently worth >US$3 million), ability to qualify to compete for research grants from the Office of Orphan Products Development (OOPD) to support clinical studies for the orphan indication, and eligibility to receive regulatory assistance and guidance from FDA to design the development plan.

    Furthermore, once the therapy is approved for marketing, it cannot be copied and sold in the US for 7 years regardless of patent life and the sponsor will be granted a Priority Voucher which can be used to receive approximately 4 months reduction time of the standard FDA review period or sold.

    ABOUT HEMOPHILIA A

    Hemophilia encompasses a group of inherited disorders that alter blood coagulation. Classical hemophilia, also known as hemophilia A, is a hereditary hemorrhagic disorder resulting from a congenital deficit of FVIII that manifests as protracted and excessive bleeding either spontaneously or secondary to trauma. 1 Hemophilia A is the most common form of Hemophilia and is a genetic disorder caused by missing or defective FVIII, a blood clotting protein. Severe Hemophilia A occurs in about 60% of cases where the deficiency of FVIII is less than 1% of normal blood concentration. While it is passed down from parents to children, about 1/3 of cases are caused by a spontaneous change in the gene.

    According to the US Centers for Disease Control and Prevention, Hemophilia A occurs in about 1 in 5,000 births. Prolonged bleeding, in areas such as the brain, of a person with Hemophilia A, can be fatal. Prolonged bleeding in joints can cause inflammatory responses and permanent joint damage. Approximately 20,000 people in the United States, 2,500 in Canada and 10,000 in Europe have moderate to severe forms of Hemophilia A. Though there is no cure for the disease, Hemophilia A can be controlled with regular infusions of recombinant clotting FVIII. Treatment costs per patient are as high as US $200,000 or more each year, with an aggregate therapeutic cost of over US$ 10 billion per year.

    ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

    Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A. FOR FURTHER INFORMATION, PLEASE CONTACT: Corporate: Christopher Barnes VP, Investor Relations Sernova Corp. christopher.barnes@sernova.com Tel: 519-902-7923 www.sernova.com

    Investors: Corey Davis, Ph.D. LifeSci Advisors, LLC cdavis@lifesciadvisors.com Tel: 212-915-2577

    Media: Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com Tel: 619-723-4326 FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedarplus.ca for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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    Press Release Communiqué de presse - October 30, 2023 30 October, 2023

    Sernova Announces New Advancements of Conformal Coating Technology in Combination with the Cell Pouch System™ at the 2023 IPITA-IXA-CTRMS Joint Congress


    LONDON, Ontario; WINDHAM COUNTY, Connecticut – October 30, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, today announced an update on its conformal coating immune protection technology program, that is used in combination with the Cell Pouch™.

    The goal of the program is to eliminate the need for chronic immunosuppression medications, currently used in islet cell transplantation for type 1 diabetes (T1D) treatment.

    The update was presented by Dr. Alice Tomei, of the University of Miami, at the International Pancreas and Islet Transplant Association (IPITA)-International Xenotransplantation Association (IXA)-Cell Transplant and Regenerative Medicine Society (CTRMS) Joint Congress, taking place from October 26-29 in San Diego, California.

    The presentation showcased positive advancement in the refinement of the coating composition and process, outcomes of preclinical studies with the Cell Pouch as well as rationale and historical development of the technology.

    The following summarizes key advancements presented: • The final conformal coating composition exhibits significantly improved cell compatibility and overall biocompatibility, representing evolution across years of process development work and preclinical testing. • Coating process enhancements resulted in a 500% increase in conformal coating production capacity (number of starting islets to be coated) and an 89% overall islet encapsulation yield (ratio of conformal coated islets to initial islets). These enhancements have a direct positive impact on the in vitro and in vivo efficacy of the coated islets. • The final conformal coated product was purified using a process to contain 98% conformal coated islets and only 2% empty capsules. This enables an increase in the number of functional coated islets that are transplanted within the Cell Pouch chambers and minimization of graft volume. • Using these composition and process development improvements, the coated islets were tested, in combination with the Cell Pouch, in a syngeneic gold standard animal model of T1D to assess the safety and efficacy of the combined product. o Biocompatibility of the coated islets within the Cell Pouch was confirmed histologically demonstrating healthy islets within the vascularized tissue matrix; o Importantly, normal physiological transfer of glucose-stimulated insulin from the conformal coated islets within the Cell Pouch was confirmed; o Diabetic animals that received conformal coated islets within the Cell Pouch exhibited controlled blood glucose to non-diabetic levels - which reversed upon removal of the Cell Pouch - proving function of the conformal coated islets. • A series of pilot studies using conformal coated islets, in combination with the Cell Pouch, in an allogeneic rat model of T1D established the optimal conditions to achieve diabetes reversal. These conditions, which are being used in confirmatory allogeneic studies in additional upcoming preclinical work, included: o Drug kinetic studies which identified the optimal dose and frequency of a single selective immune response agent to be used in combination with conformal coated islets; o Islet dose-dependent glucose control was demonstrated using conformal coated islets in the Cell Pouch with the selective immune response agent.

    • The release criteria essential for clinical manufacturing have been developed, including coating conformality, completeness, stiffness, thickness, and selective permeability. Using these criteria, the conformal coating material showed long term mechanical stability, durability and selective permeability to insulin and glucose molecules but not to antibodies or inflammatory cells. These are key requirements for long-term function of the conformal coating technology in vivo.

    • Significant progress was achieved in manufacturing of the coating scale up equipment. Prototype devices are manufactured, and testing is in progress. Final system design will provide fully automated, GMP- compliant coating applied to transplantable coated islets. The system function will involve conformal coating, washing, counting and production monitoring.

    “We have made significant advancements in the evolution of the conformal coating technology in our collaboration with Sernova and are confident we have the final formulation. I look forward to our continuing studies and presenting more results,” said Dr. Alice Tomei, Miami Engineering Career Development Associate Professor of Biomedical Engineering at the University of Miami and director of the Islet Immunoengineering Lab at the Miller School of Medicine Diabetes Research Institute.

    “We understand that eliminating the standard immune suppression regimen is key to Sernova delivering a ‘functional cure’ for all T1D patients,” said Cynthia Pussinen, Chief Executive Officer at Sernova. “Our goal is to continue to drive this technology ahead and ultimately bring a local immune-protected cell product into the clinic combined with the Sernova Cell Pouch and iPSC islet-like clusters.”

    RELEVANT PRESENTATION DETAILS

    Title: Transplantation of Conformal Coated Islets in a Pre-Vascularized Cell Pouch™ Device for Beta Cell Replacement in Diabetic Rats Session: Islet Transplantation: Engineering the Islet Site Session Date: Friday, October 27, 2023

    ABOUT THE CONFORMAL COATING TECHNOLOGY

    The conformal coating technology is a proprietary, mechanically stable, thin, biocompatible, and cross-linked polymer hydrogel that coats the outside of each individual islet housed within the Cell Pouch. The conformal coating technology offers selective permeability, with immuno-protective capability, while not interfering with the kinetics of insulin and glucose release. Importantly, the conformal coating configuration also allows for the physiological transfer of oxygen and nutrients needed for islet survival and long-term function within the pre- vascularized Cell Pouch. ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

    Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A. FOR FURTHER INFORMATION, PLEASE CONTACT:

    Corporate: Christopher Barnes VP, Investor Relations Sernova Corp. christopher.barnes@sernova.com Tel: 519-902-7923 www.sernova.com

    Investors: Corey Davis, Ph.D. LifeSci Advisors, LLC cdavis@lifesciadvisors.com Tel: 212-915-2577

    Media: Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com Tel: 619-723-4326 FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedarplus.ca for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.



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