2017 Press Releases Communiqués de presse

December 11, 2017 11 December, 2017

Sernova Receives US FDA IND Allowance to Initiate a US Clinical Trial of its Cell Pouch for the Treatment of Type 1 Diabetes

August 15, 2017 15 August, 2017

Sernova Retains FronTier Merchant Capital for North America Investor Relations and Marketing

July 24, 2017 24 July, 2017

Sernova-HemAcure Consortium Announce Significant Progress in Development of First in World Regenerative Medicine Therapy for Treatment of Hemophilia

June 5, 2017 5 June, 2017

Sernova Provides Company Outlook on Corporate and Clinical Developments

May 5, 2017 5 May, 2017

Sernova Receives Approval to Extend Term of Warrants

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Press Release Communiqué de presse - December 11, 2017 11 December, 2017

Sernova Receives US FDA IND Allowance to Initiate a US Clinical Trial of its Cell Pouch for the Treatment of Type 1 Diabetes


Source: Sernova Corp December 11, 2017, 6:00 a.m. EDT

LONDON, ONTARIO – (Globe Newswire – Monday December 11, 2017) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical stage company developing regenerative medicine technologies for the long-term treatment of diseases including diabetes and hemophilia, is pleased to announce it has received US Food and Drug Administration (FDA) notice of allowance for its IND for a new human clinical trial with the Cell Pouch System (TM) (CPS) in the United States. The Company will host a conference call for shareholders with Dr. Philip Toleikis, President and CEO on Monday, December 11th at 10:00am Eastern Standard Time to discuss the trial.

Sernova plans to initiate the new clinical trial under this US IND to investigate the Cell Pouch for treatment of type 1 diabetes (T1D) in individuals with hypoglycemia unawareness. The trial is a Phase I/II prospective single arm study of islets transplanted into the subcutaneously implanted Cell Pouch. The primary objective of the study is to demonstrate safety and tolerability of islet transplantation into the Cell Pouch and the secondary objective is to assess efficacy through a series of defined measures.

JDRF has previously committed to provide Sernova up to $2.45 million USD to support the clinical trial.

“Hypoglycemia unawareness is a serious consequence of type 1 diabetes,” said Derek Rapp, President & CEO, JDRF International. “We are excited to see progress in this and other potentially life-saving JDRF-funded research, which could help prevent people with hypoglycemia unawareness from experiencing dangerous lows, as we strive to achieve our vision of a world without T1D.”

“We are extremely enthusiastic about the promise of Sernova’s regenerative medicine platform to provide a new therapeutic option for diabetes patients with hypoglycemia unawareness. We believe Sernova’s multiple advancing cell based therapies have the potential to deliver significant improvement in the quality of life of patients suffering from diabetes and other debilitating diseases,” said Dr. Philip Toleikis, Sernova’s president & CEO.

About the Trial

The study is a Phase I/II single site, single arm, Company sponsored trial. Following approval by the Institutional Review Board, patients with hypoglycemia unawareness will be enrolled into the study under informed consent. Patients will then be implanted with the Cell Pouch including sentinel devices. Following vascularized tissue development, a dose of purified islets under strict release criteria will be transplanted into the Cell Pouch and patients followed for safety and efficacy measures for approximately six months. At this point a decision will be made whether to transplant a second islet dose with subsequent safety and efficacy follow up. Patients will then be further followed for one year.

“Sernova’s FDA clearance to commence human clinical trials in the United States is an exciting step forward in diabetes research, initially focused to reduce the risk of hypoglycemia unawareness, a complication in which a patient is unaware of a deep drop in blood sugar that can have life threatening consequences,” said Dave Prowten, President and CEO of JDRF Canada. “This is also an example of the international collaboration fostered by JDRF-funded projects to accelerate transformative research to benefit the T1D community,” added Mr. Prowten.

About Sernova’s Cell Pouch

The Cell Pouch is a novel, proprietary, scalable, implantable macroencapsulation device for the long-term survival and function of therapeutic cells (donor, stem cell derived cells and xenogeneic cells) which then release proteins and/or hormones as required to treat disease. The device is designed upon implantation to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells. The device with therapeutic cells has been shown to provide long term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin producing cells in humans.

About Diabetes

T1D is a life-threatening disease in which the body's immune system mistakenly attacks and kills the pancreatic cells that produce insulin—a hormone that is essential for life because of its role to help the body use glucose. The existing standard of care for patients with TID is suboptimal. To date, there is no cure for T1D, and people living with the disease are dependent on exogenous insulin therapy to help keep their blood-sugar levels from spiking too high, which can lead to long-term complications such as kidney and heart diseases or an acute, potentially deadly health crisis. Present-day insulin therapy is, however, an imperfect treatment method that requires people with T1D to carefully monitor their blood sugar throughout the day and take multiple, calculated doses of insulin based on food intake, exercise, stress, illness and other factors. A miscalculation or unexpected variable leading to high or low blood sugar episodes are daily threats, and only a third of people with T1D achieve their long-term blood glucose targets, placing them at risk for T1D-related health complications.

Conference Call Details

To participate in this live conference call, please dial + 1-877-858-5743 prior to the scheduled conference call time. International callers should dial +1-858-609-8959. The conference participant pass code is 355 040. Following the conference call a recording will be available at www.sernova.com

About Sernova Corp

Sernova Corp is developing disruptive regenerative medical technologies using a medical device and immune protected therapeutic cells to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com

About JDRF

JDRF is the leading global organization funding type 1 diabetes (T1D) research. Our mission is to accelerate life-changing breakthroughs to cure, prevent and treat T1D and its complications. To accomplish this, JDRF has invested nearly $2 billion in research funding since our inception. We are an organization built on a grassroots model of people connecting in their local communities, collaborating regionally for efficiency and broader fundraising impact, and uniting on a national stage to pool resources, passion, and energy. We collaborate with academic institutions, policymakers, and corporate and industry partners to develop and deliver a pipeline of innovative therapies to people living with T1D. Our staff and volunteers throughout the United States and our six international affiliates are dedicated to advocacy, community engagement and our vision of a world without T1D. For more information, please visit jdrf.org or follow us on Twitter: @JDRF

For further information contact:

Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778\ www.raymatthews.ca ray@raymatthews.ca

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, which include our belief about the conduct and outcome of clinical trials and that Sernova will be able to raise additional capital to fund its clinical programs including its planned US FDA clinical trial. 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 - August 15, 2017 15 August, 2017

Sernova Retains FronTier Merchant Capital for North America Investor Relations and Marketing


Sernova Engages IR and Marketing Firm as Anticipated Event-Driven Catalysts Approach

LONDON, ONTARIO – (Marketwire – Tuesday August 15, 2017) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a leading clinical stage regenerative medicine company, is pleased to announce that it has engaged FronTier Merchant Capital Group to provide North American investor relations (IR) and strategic marketing services to the financial community and media across North America with the goal to build shareholder value.

Sernova President and CEO Dr. Philip Toleikis commented, "We are pleased to select FronTier Merchant Capital to work with us and serve as our North American investor relations advisors. FronTier’s extensive expertise and experience with impactful media channels and reach into the investment community is expected to greatly enhance the scope and quality of our domestic and US investor relations programs through strategic messaging and investor outreach.”

Using its extensive network, comprised of financial industry professionals, active investors and marketing service providers, FronTier will help to effectively communicate Sernova’s investment potential and corporate vision. With important anticipated catalysts such as near term initiation of a US clinical trial of its Cell Pouch technologies, expanding pharma collaborations, and subsequent expected upgrade of its US listing to a senior exchange, FronTier will assist the company by increasing market awareness through financial market communications, including facilitating in-person introductions for the company with institutional and retail brokers in Canada and throughout the United States, and through media distribution on national television, radio and multiple on-line channels. FronTier has offices in Toronto, Montreal and Calgary.

Under the terms of the engagement, FronTier has been retained for a 12-month period at $80,000 per annum plus direct expenses.

In other developments, Sernova’s board of directors has approved an amendment to the company’s Option Plan & Deferred Share Unit Plan (the “Amended Plan”) to increase the maximum number of Deferred Share Units (“DSUs”) issuable by an additional 660,222 DSUs to a maximum of 1,975,000 DSUs.

Further to the Amended Plan, Sernova has granted 3,735,000 stock options to certain officers, employees and consultants of the company, each such option being exercisable into a common share at a price of $0.25 per share for a period of 10 years, and conditionally granted 900,000 DSUs to its board of directors. The DSU grants are subject to the company obtaining shareholder approval and TSX Venture Exchange approval.

About Sernova

Sernova Corp is a clinical stage leading regenerative medicine Company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing its Cell Pouch System, an implantable medical device and therapeutic cells (donor, xenogeneic or stem cell derived therapeutic cells). Sernova’s Cell Pouch System, following implantation, is thought to form a vascularized tissue environment for the housing and long-term survival and function of therapeutic cells. Following transplantation of cells it is believed the device, through its design does not result in fibrosis, a common issue with implantable medical devices. It is anticipated that these therapeutic cells may release necessary proteins or hormones missing from the body to treat chronic diseases as an alternative to daily administration of drugs. For more information, visit www.sernova.com

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778 ray@raymatthews.ca www.raymatthews.ca

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, which include our beliefs about the functionality of the Cell Pouch and our cell technologies, clinical trials, collaborations and therapeutic indications 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.



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Press Release Communiqué de presse - July 24, 2017 24 July, 2017

Sernova-HemAcure Consortium Announce Significant Progress in Development of First in World Regenerative Medicine Therapy for Treatment of Hemophilia A Patients


Breakthrough scientific progress is made in development of a disruptive personalized regenerative medicine therapy within Sernova’s Cell Pouch(TM) for treatment of Hemophilia A validated by European Commission’s confirmation of next stage of funding of the €5.6Million EU Horizon 2020 Grant Award to the HemAcure Consortium

Source: Sernova Corp

Monday July 24, 2017, 6:00 a.m. EDT

LONDON, ONTARIO – (Marketwire – July 24, 2017) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical stage regenerative medicine company, announced today significant scientific progress achieved in the development of a ‘first in world’ personalized regenerative medicine therapy for the treatment of Hemophilia A patients by the HemAcure Consortium and confirmation of the second phase of funding of the Consortium by the European Commission. The therapy being developed by international scientific Consortium members consisting of three European academic institutions, an enterprise for quality management and Sernova Corp is to treat severe Hemophilia A, a serious genetic bleeding disorder caused by missing or defective clotting factor VIII in the blood stream. This therapy consists of Sernova’s implanted Cell Pouch(TM) device transplanted with therapeutic cells, corrected to produce Factor VIII at a level sufficient to significantly reduce the side effects of the disease and improve patient quality of life.

“The international HemAcure Consortium team members are pleased with the ground breaking scientific advances achieved at this point and are on track for this regenerative medicine solution to advance into human clinical evaluation,” remarked Dr. Philip Toleikis, Sernova President and CEO. Toleikis added, “Sernova’s Cell Pouch platform technologies are achieving important world first milestones in both diabetes and now hemophilia, two significant clinical indications which are being disrupted by its regenerative medicine approach aimed at significantly improving patient quality of life.”

“We are thrilled with the approval by the European Union of the next stage of funding for the HemAcure program based on our quality interim report. This is a strong validation of the Consortium’s dedication and teamwork and the importance of this regenerative medicine approach,” said Dr. Joris Braspenning, HemAcure Program Coordinator.

In summary, the following ground-breaking developments have been achieved by the Consortium:

• A reliable procedure has been implemented to isolate and maintain required endothelial cells from a sample of the patient’s blood. • Using a novel gene correction process, the cells have been corrected and tuned to reliably produce the required Factor VIII to treat Hemophilia A. • The cells have been successfully scaled up to achieve the required therapeutic number, and cryopreserved for shipping and future transplant into the implanted Cell Pouch. • A preliminary study confirmed survival of the Factor VIII corrected human cells injected into the hemophilia model, achieving sustained therapeutic Factor VIII levels. This preliminary work is being used to aid in dosing of these cells in the Cell Pouch. • Safe Cell Pouch surgical implant and cell transplant procedures have been developed in the hemophilia A model in preparation for use in hemophilia patients. • Development of Cell Pouch vascularized tissue chambers suitable for Factor VIII producing cell transplant has been demonstrated in the hemophilia A model, expected to mimic the predicted findings in human patients. • In combination, this work is in preparation for safety and efficacy studies of the human hemophilia corrected Factor VIII producing cells in the Cell Pouch in a preclinical model of hemophilia.

This combination of advances by the HemAcure team represents a ‘first in world’ achievement towards developing a regenerative medicine therapy for the treatment of severe hemophilia A patients.

“In this regard, these fundamental advancements have set the stage for further optimization and implementation of cell production processes under controlled GMP conditions,” stated Martin Zierau, IMS member consortium team leader responsible for coordination of GMP processes. With Factor VIII corrected cells, studies are ongoing to optimize cell dosing within the Cell Pouch and for study of safety and efficacy of hemophilia corrected Factor VIII cells in the hemophilia model. These studies are in support of the current extensive regulatory package already assembled for the Cell Pouch in anticipation of human clinical evaluation of the Cell Pouch with hemophilia corrected Factor VIII producing cells.

Sernova has developed its proprietary highly innovative Cell Pouch technologies for the placement and long-term survival and function of immune protected therapeutic cells. It has proven to be safe and efficacious in multiple small and large animal preclinical models and has demonstrated safety alone and with therapeutic cells in a clinical trial in humans for another therapeutic indication. We believe the Cell Pouch platform is the first such patented technology proven to become incorporated with blood vessel enriched tissue-forming tissue chambers without fibrosis for the placement and long-term survival and function of immune protected therapeutic cells.

About Hemophilia A

People with Hemophilia have prolonged abnormal bleeding as a result of trauma. Hemophilia A, also called factor VIII (FVIII) deficiency is the most common form of Hemophilia and is a genetic disorder caused by missing or defective FVIII, a blood clotting protein. Severe hemophilia 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 occurs in about 1 in 5,000 births. If the prolonged bleeding occurs in the brain of a person with hemophilia, it can be fatal. Prolonged bleeding in joints can cause inflammatory responses and permanent joint damage. Approximately 20,000 people in the United States and 10,000 in Europe have the moderate or severe form of hemophilia A, as well as approximately 2,500 in Canada. All races and ethnic groups are equally affected by hemophilia A. Though there is no cure for the disease, it can be controlled with regular infusions of recombinant clotting FVIII. Annual costs for the treatment of the disease for each patient may range from $60,000 to $260,000 US for a total cost of between $2-5B per year in North America and Europe.

About Horizon 2020 Programme

Horizon 2020 is the biggest EU Research and Innovation program ever with nearly €80 billion of funding available over seven years (2014 to 2020). It promises more breakthroughs, discoveries and world-firsts by taking great ideas from the lab to the market. The project is funded as part of societal challenges “personalizing health and care” in a specific call about innovative treatments and technologies. New therapies, such as gene or cell therapies, often require technological innovation in the form of development of specific component tools and techniques such as isolation and multiplication of a cell or development of a scaffold, delivery of the therapy to the patient and for following-up the effect of the therapy in the patient. In particular, achieving therapeutic scale production and GMP standards at reasonable cost is often underestimated. The European Union aims to improve the development of advanced methods and devices for targeted and controlled delivery, and to bring these innovative treatments to the patient.

About HemAcure

HemAcure is the name of the consortium developing a product for hemophilia A. This project has received funding from the European Union's Horizon 2020 research and innovation program under grant agreement No 667421. The consortium members include the University Hospital Wuerzburg (Coordinating Institute), Germany, IMS - Integrierte Management, Heppenheim, Germany, Università del Piemonte Orientale “Amedeo Avogadro,” Novara, Italy, Loughborough University, Loughborough, United Kingdom, ARTTIC International Management Services, Munich, Germany and Sernova Corp., London, Ontario, Canada. The main objective of the HemAcure project is to develop and refine the tools and technologies for a novel ex vivo prepared cell based therapy within Sernova’s prevascularized Cell Pouch to treat this bleeding disorder that should ultimately lead to improved quality of life of the patients. www.hemacure.eu; twitter.com/HemAcure_EU

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 hemophilia 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 and therapeutic cells (donor, xenogeneic or stem cell derived therapeutic cells) which then release proteins and/or hormones as required.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778 ray@raymatthews.ca www.raymatthews.ca

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, which include our beliefs about the functionality of the Cell Pouch and our expectations of the potential benefits of the consortium and the Horizon 2020 hemophilia project including but not limited to projected timelines and potential for entry into human clinical trials, are based on the beliefs, estimates and opinions of Sernova’s management on the date such statements were made. Furthermore, there are no assurances that there will be a clinical evaluation of a product developed from the consortium. 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.

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Press Release Communiqué de presse - June 05, 2017 5 June, 2017

Sernova Provides Company Outlook on Corporate and Clinical Developments


Sernova reports on active pharma collaboration, upcoming clinical trial and fertile BD pipeline to advance scale of diabetes and hemophilia programs

LONDON, ONTARIO – (Marketwire – Monday, June 5, 2017) – Sernova Corp. (TSX-V: SVA) (FSE: PSH), a clinical stage company developing medical technologies for the long-term treatment of chronic metabolic diseases including diabetes, blood disorders such as hemophilia and other diseases, today provided a brief company outlook on corporate and clinical developments.

“During the first half of 2017, we have achieved significant progress in advancing our diabetes and hemophilia programs and have continued to build our intellectual property portfolio reaching new milestones in the development of our global patent portfolio, including coverage of leading indications in major markets,” stated President and CEO, Dr. Philip Toleikis. “We look forward to advancing our ongoing collaboration with a leading, global pharmaceutical company and are confident in our ability to execute on multiple fronts including our upcoming U.S. clinical study earmarked for the second half of 2017, and additional notable collaborations to bring the most innovative and effective regenerative medicine combination products to the forefront,” he added.

Our product development program plans for 2017 includes the following:

Commence a Phase I/II clinical study of our Cell Pouch(TM) in the United States to support our positive results in diabetic patients with hypoglycemia unawareness using human donor islets to further develop the safety and efficacy of our regenerative medicine combination product;

As a member of the HemAcure Consortium who will continue development of IND-enabling cell production and preclinical studies for personalized medicine treatment of hemophilia A consisting of factor VIII releasing therapeutic cells transplanted within Sernova’s implanted prevascularized Cell Pouch. (The HemAcure Consortium is the name of the consortium developing a product for hemophilia A);

Conduct IND-enabling preclinical studies for treatment of hypo-thyroid disease consisting of thyroid hormone releasing tissue transplanted within Sernova’s Cell Pouch;

Production of human stem cell derived cells for diabetes and proof of principle assessment of these differentiated human stem cells for their safety and efficacy within Sernova’s Cell Pouch for the treatment of insulin-dependent diabetes;

Development of novel local immune protection technologies within the Cell Pouch, to further develop and advance Sernova’s therapeutic vision for diabetes of a product consisting of locally immune protected therapeutic cells within the Cell Pouch; and,

Continue to collaborate with pharmaceutical companies to assess safety and efficacy of our combined technologies in preclinical studies for potential negotiation of a licensing arrangement and commercial development partnership for our diabetes and hemophilia programs.

As of January 31, 2017, Sernova had $5.5 million in cash, cash equivalents, and bank deposits. The company’s net cash used for operating activities was $0.6 million for this quarter. Notably, Management recently purchased a total of 2,044,000 shares as reflected on www.sedar.ca

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 hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing its Cell Pouch System, an implantable medical device and therapeutic cells (donor, xenogeneic or stem cell derived therapeutic cells). Sernova’s Cell Pouch System, following implantation, is thought to form a vascularized tissue environment for the housing and long-term survival and function of therapeutic cells. It is anticipated that these therapeutic cells may release necessary proteins or hormones missing from the body to treat chronic diseases as an alternative to daily administration of drugs. HemAcure is the name of the consortium developing a product for hemophilia A. This project has received funding from the European Union's Horizon 2020 research and innovation program under grant agreement No 667421. For more information, visit www.sernova.com

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, which include our beliefs about the functionality of the Cell Pouch and our cell technologies, clinical trials, collaborations and therapeutic indications 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.

For further information, contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778 / www.raymatthews.ca

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Press Release Communiqué de presse - May 05, 2017 5 May, 2017

Sernova Receives Approval to Extend Term of Warrants


LONDON, Ontario, May 5, 2017– Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical stage regenerative medicine company, is pleased to announce that it has received TSX Venture Exchange acceptance, to extend the expiry date of 5,745,633 share purchase warrants that are exercisable to purchase up to 5,745,633 common shares of Sernova at an exercise price of $0.30 per share, from May 8, 2017 to November 8, 2017.

The Company also obtained approval from the TSX Venture Exchange to extend the expiry date of 3,043,256 share purchase warrants that are exercisable to purchase up to 3,043,256 common shares of Sernova at an exercise price of $0.30 per share, from May 14, 2017 to November 14, 2017. All other terms of the Warrants will remain unchanged, including the exercise period, as extended, being subject to abridgement on 30 days notice to holders in the event that the twenty-day volume weighted price of the Company’s shares exceeds $0.50.

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 hemophilia 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 and therapeutic cells (donor, xenogeneic or stem cell derived therapeutic cells) which then release proteins and/or hormones as required.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca

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, which include our beliefs about the functionality of the Cell Pouch and our cell technologies, 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.