Click here to close now.

SYS-CON MEDIA Authors: Roger Strukhoff, Pat Romanski, Elizabeth White, Liz McMillan, Kelly Murphy

News Feed Item

Sernova Provides Corporate Update and Results of 2014 Annual General Meeting

LONDON, ONTARIO -- (Marketwired) -- 06/03/14 -- Sernova Corp. (TSX VENTURE:SVA), a clinical stage company developing medical technologies for the long-term treatment of chronic debilitating metabolic diseases including diabetes and haemophilia today provides a corporate update and results of its 2014 Annual General Meeting (AGM).

Dr. Philip Toleikis, CEO of Sernova, commented, "This is an exciting time for Sernova. We are continuing our Cell Pouch(TM) clinical trial with Dr. James Shapiro of the University of Alberta for the treatment of Type I diabetes, and have reached agreement with Medicyte Gmbh for the initiation of proof of concept studies of our Cell Pouch(TM) with Factor VIII producing cells to treat haemophilia. We have also increased our board membership and brought on several seasoned business development members to assist the Sernova team as we further develop the Company."

Dr. Toleikis further stated, "Along with our current programs, we are seeking to develop additional clinical applications for the Cell Pouch(TM), and our new business development team is in discussions with other potential corporate and academic partners to further expand the depth of our technologies. These advances should continue to build shareholder value and benefit patients with chronic diseases."

Selected 2013 and 2014 Corporate Developments

Following are highlights of significant developments at Sernova during the past year:


--  Released positive interim results from our human clinical trial of the
    Cell Pouch(TM) with insulin producing islets for the treatment of Type I
    diabetes, demonstrating biocompatibility and safety for up to 6 months,
    as well as proof of 30 day islet survival within the Cell Pouch(TM)
    following islet transplant. The clinical trial is ongoing. 
--  Established an agreement with Medicyte GmbH and initiated preclinical
    studies to jointly evaluate the use of Medicyte's upcyte® cells in
    Sernova's Cell Pouch(TM) to treat patients with haemophilia A. 
--  Received the first patent allowance for Methods and Devices for Cellular
    Transplantation from the Australian Patent Office. 
--  Continued evaluation of our Sertolin(TM) local immune protection
    technology within the Cell Pouch(TM) for treatment of chronic diseases
    following receipt of a contribution agreement for up to $254,300 from
    the National Research Council of Canada for continued research and
    development. 
--  Closed non-brokered private placement of $2 million, comprising 10
    million units at a price of $0.20. Each unit consisted of 1 common share
    and 1 common share purchase warrant exercisable at $0.35 for the first
    24 months and $0.40 for the subsequent 12 months. 
--  Appointed biopharma entrepreneur and investor Frank Holler to the Board
    of Directors. 
--  Established a world class business development team of Kevin Egan and
    Nick Borrelly to establish corporate partners for Sernova's programs and
    to expand Sernova's proprietary technologies through academic and
    corporate partnerships. 
--  Appointed Mr. David Garland CPA CA, CPA CMA, MAcc, BA(Hon) as interim
    CFO to replace Ms. Cathy Steiner, who has moved on to pursue other
    business interests. Mr. Garland has extensive public company experience
    and has been CFO of Highcourt Partners, LTD, Mash Media Solutions, Inc.,
    and Wi-LAN V-chip Corp and has worked as VP Finance and/or Controller at
    Pathways to Education, Certicom Corp, and Delano Technology Corporation.

2014 AGM Appointments


--  Dr. George Adams (Chair), Frank Holler, Jeffrey Bacha, James Parsons,
    Bruce Weber and Dr. Philip Toleikis, were elected as the directors of
    the Company to hold office until the next annual general meeting of
    shareholders. 
--  Davidson & Company, Chartered Accountants, was appointed auditor of the
    Company until the close of the next annual general meeting of
    shareholders, at a remuneration to be fixed by the Directors. 

About Sernova

Sernova Corp is a clinical stage regenerative medicine company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including haemophilia and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch(TM), an implantable medical device for therapeutic cells (donor, xenogeneic or stem cells) which then release proteins and/or hormones as required. The therapeutic cells are protected from immune attack by Sernova's proprietary technologies.

Forward Looking Information

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Sernova's management on the date such statements were made. 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Most companies hope for rapid growth so it's important to invest in scalable core technologies that won't demand a complete overhaul when a business goes through a growth spurt. Cloud technology enables previously difficult-to-scale solutions like phone, network infrastructure or billing systems to automatically scale based on demand. For example, with a virtual PBX service, a single-user cloud phone service can easily transition into an advanced VoIP system that supports hundreds of phones and ...
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @Things...
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use c...
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefits. The Modern Enterprise model is presented as a newer way to think of enterprise IT, which takes a more holistic approach to embracing modern technologies.
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
“Oh, dev is dev and ops is ops, and never the twain shall meet.” With apoloies to Rudyard Kipling and all of his fans, this describes the early state of the two sides of DevOps. Yet the DevOps approach is demanded by cloud computing, as the speed, flexibility, and scalability in today's so-called “Third Platform” must not be hindered by the traditional limitations of software development and deployment. A recent report by Gartner, for example, says that 25% of Global 2000 companies will b...
Software-driven innovation is becoming a primary approach to how businesses create and deliver new value to customers. A survey of 400 business and IT executives by the IBM Institute for Business Value showed businesses that are more effective at software delivery are also more profitable than their peers nearly 70 percent of the time (1). DevOps provides a way for businesses to remain competitive, applying lean and agile principles to software development to speed the delivery of software that ...
JFrog on Thursday announced that it has added Docker support to Bintray, its distribution-as-a-service (DaaS) platform. When combined with JFrog’s Artifactory binary repository management system, organizations can now manage Docker images with an end-to-end solution that supports all technologies. The new version of Bintray allows organizations to create an unlimited number of private Docker repositories, and through the use of fast Akamai content delivery networks (CDNs), it decreases the dow...
Big Data is amazing, it's life changing and yes it is changing how we see our world. Big Data, however, can sometimes be too big. Organizations that are not amassing massive amounts of information and feeding into their decision buckets, smaller data that feeds in from customer buying patterns, buying decisions and buying influences can be more useful when used in the right way. In their session at Big Data Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positi...
More organizations are embracing DevOps to realize compelling business benefits such as more frequent feature releases, increased application stability, and more productive resource utilization. However, security and compliance monitoring tools have not kept up and often represent the single largest remaining hurdle to continuous delivery. In their session at DevOps Summit, Justin Criswell, Senior Sales Engineer at Alert Logic, Ricardo Lupo, a Solution Architect with Chef, will discuss how to ...
Thanks to Docker, it becomes very easy to leverage containers to build, ship, and run any Linux application on any kind of infrastructure. Docker is particularly helpful for microservice architectures because their successful implementation relies on a fast, efficient deployment mechanism – which is precisely one of the features of Docker. Microservice architectures are therefore becoming more popular, and are increasingly seen as an interesting option even for smaller projects, instead of bein...
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects - scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e....
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understand...