Click here to close now.

SYS-CON MEDIA Authors: Elizabeth White, Liz McMillan, AppDynamics Blog, Ed Featherston, Pat Romanski

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™ 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™ 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™, 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™ 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™
    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™ 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™ local immune protection
    technology within the Cell Pouch™ 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™, 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
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will address the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affec...
SYS-CON Events announced today that EnterpriseDB (EDB), the leading worldwide provider of enterprise-class Postgres products and database compatibility solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. EDB is the largest provider of Postgres software and services that provides enterprise-class performance and scalability and the open source freedom to divert budget from more costly traditiona...
Fundamentally, SDN is still mostly about network plumbing. While plumbing may be useful to tinker with, what you can do with your plumbing is far more intriguing. A rigid interpretation of SDN confines it to Layers 2 and 3, and that's reasonable. But SDN opens opportunities for novel constructions in Layers 4 to 7 that solve real operational problems in data centers. "Data center," in fact, might become anachronistic - data is everywhere, constantly on the move, seemingly always overflowing. Net...
Gartner predicts that the bulk of new IT spending by 2016 will be for cloud platforms and applications and that nearly half of large enterprises will have cloud deployments by the end of 2017. The benefits of the cloud may be clear for applications that can tolerate brief periods of downtime, but for critical applications like SQL Server, Oracle and SAP, companies need a strategy for HA and DR protection. While traditional SAN-based clusters are not possible in these environments, SANless cluste...
Software Defined Storage provides many benefits for customers including agility, flexibility, faster adoption of new technology and cost effectiveness. However, for IT organizations it can be challenging and complex to build your Enterprise Grade Storage from software. In his session at Cloud Expo, Paul Turner, CMO at Cloudian, looked at the new Original Design Manufacturer (ODM) market and how it is changing the storage world. Now Software Defined Storage companies can build Enterprise grade ...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud en...
To manage complex web services with lots of calls to the cloud, many businesses have invested in Application Performance Management (APM) and Network Performance Management (NPM) tools. Together APM and NPM tools are essential aids in improving a business's infrastructure required to support an effective web experience... but they are missing a critical component - Internet visibility. Internet connectivity has always played a role in customer access to web presence, but in the past few years u...
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager – Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, will review next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discuss how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Speaker Bios Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has b...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
SYS-CON Media named Andi Mann editor of DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Andi Mann, Vice President, Strategic Solutions, at CA Technologies, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, communicator, and thought lea...
Announced separately, New Relic is joining the Cloud Foundry Foundation to continue the support of customers and partners investing in this leading PaaS. As a member, New Relic is contributing the New Relic tile, service broker and build pack with the goal of easing the development of applications on Cloud Foundry and enabling the success of these applications without dedicated monitoring infrastructure. Supporting Quotes "The proliferation of microservices and new technologies like Docker ha...
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...