Press release Communiqué de presse
Press release Communiqué de presse
September 25, 2006 25 September, 2006
Dr. George Adams Appointed to Board of Directors to Help Commercialize Insulin Dependent Diabetes Product
Kelowna, B.C. -- Sernova Corp. ("Sernova")
pleased to announce that Dr. George Adams of
Ontario has been appointed to the Board of
assist Sernova in moving its diabetes product
development to the commercialization stage.
"Dr. Adams' success as both a scientist and an entrepreneur makes him an ideal fit for our board." said Sernova's Chairman Dr. William Cochrane. "His extensive experience in financing start-ups and effectively commercializing medical research will be very helpful."
Dr. Adams has been a founding angel investor in six start- up companies in Canada and the United States and was instrumental in obtaining venture financing for 24 companies who have raised a total of $85 million. He has also been a Director of 10 venture capital funds and 8 start-up companies.
Dr. Adams has published his work in 124 publications including 9 invited reviews, 26 full papers and 3 patents. He is a past President of the Canadian Biomaterials Society. He has been a reviewer for numerous scientific journals, national granting agencies and several national and provincial centres of excellence. He has been a principal investigator for over $40 million in private and publicly-funded research and development.
About Dr. George Adams Dr Adams obtained his Ph.D. in Medical Sciences from McMaster University after completing his B.A.Sc. and M.A.Sc. in Mechanical Engineering at the University of Waterloo. After a postdoctoral year at the Baylor College of Medicine studying vascular biology, he became a Senior Scientist in the Canadian Red Cross Blood Transfusion Service. He then accepted a position with the University of Ottawa as the Director of its Artificial Heart Development Program and an Associate Professor of Biochemistry and Surgery.
Dr. Adams left his position at the University of Ottawa to start his own company and developed a diagnostic product, which were subsequently commercialized by DuPont Canada Inc. In 1994 he became the controlling shareholder and President of Corvita Canada and financed its research program until the company was purchased by Pfizer in 1996 and later re-sold to Boston Scientific in 1998. From 1999 through 2004, Dr. Adams was Chief Executive Officer of the University of Toronto Innovations Foundation. Since 2005, he has served as the Chief Executive Officer and a Director of Amorfix Life Sciences Ltd.
About Sernova Sernova Corp. is a Canadian based, biotechnology research and development company focused on commercializing medical technologies. Current emphasis is to successfully commercialize a potential breakthrough product for insulin dependent diabetes. According to the American Diabetes Association approximately 9 million Americans require insulin injections and it is the sixth leading cause of death in the United States. Over $100 billion per year is spent in the US on treating diabetes and its complications.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
ON BEHALF OF THE BOARD "Dev Randhawa" Dev Randhawa, CEO
For further information contact: Mr. Phil Morehouse Sernova Corp. TEL: (888) 318-7062 FAX: (250) 868-8493