2020 Press Releases Communiqués de presse

September 10, 2020 10 September, 2020

Sernova to Participate in Cell and Gene Therapies for Chronic Conditions Panel at the Virtual 2020 Cell & Gene Meeting on the Mesa Conference

September 9, 2020 9 September, 2020

Sernova Announces Up to $3 Million Private Placement Financing with a Lead Order of $2 Million

August 4, 2020 4 August, 2020

Sernova Enters into Exclusive Worldwide License Agreement with University of Miami for Therapeutic Cell Immune Protection Technologies

July 16, 2020 16 July, 2020

Dr. Anke M. Schulte Joins Sernova Global Advisory Board

June 18, 2020 18 June, 2020

Sernova Highlights Positive Results Presented at the American Diabetes Association s Virtual 80th Scientific Sessions

June 15, 2020 15 June, 2020

Sernova Completes Acquisition of Cellular Local Immune Protection Technology

June 8, 2020 8 June, 2020

Sernova to Acquire Cellular Local Immune Protection Technology Accelerating Expansion of its Regenerative Medicine Therapeutics Platform

June 3, 2020 3 June, 2020

Sernova to Present Clinical Validation of the Cell Pouch as a Viable, Safe Site for Diabetes Cell Therapy at the American Diabetes Association Virtual

May 29, 2020 29 May, 2020

AgeX Therapeutics and Sernova to Collaborate to Engineer Universal Locally Immune Protected Cell Therapies for Type I Diabetes and Hemophilia A

May 26, 2020 26 May, 2020

SERNOVA ANNOUNCES CHANGE OF LOCATION OF ANNUAL MEETING OF SHAREHOLDERS

May 19, 2020 19 May, 2020

Sernova Highlights Achievements of the HemAcure Hemophilia Cell Therapy Program Presented at ASGCT

May 12, 2020 12 May, 2020

Sernova Announces Presentation of HemAcure Hemophilia Program Results at 23rd Annual Meeting of the American Society of Gene and Cell Therapy

April 27, 2020 27 April, 2020

Sernova Advances Annual General Meeting and CEO Teleconference to Friday May 29

April 21, 2020 21 April, 2020

Important COVID-19 Safety Measures for Sernova s 2020 Annual Meeting of Shareholders

March 24, 2020 24 March, 2020

Sernova Provides Corporate Update and Outlook for 2020

February 17, 2020 17 February, 2020

Sernova to Present Corporate Update at Noble Capital Markets Investor Conference

February 13, 2020 13 February, 2020

Sernova Achieves Positive Efficacy Endpoint in Phase I/II Clinical Trial for Type 1 Diabetes

February 10, 2020 10 February, 2020

Sernova Announces Positive DSMB Review and Recommendation for Continuation of Phase I/II Diabetes Clinical Trial of Cell Pouch

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Press Release Communiqué de presse - September 10, 2020 10 September, 2020

Sernova to Participate in Cell and Gene Therapies for Chronic Conditions Panel at the Virtual 2020 Cell & Gene Meeting on the Mesa Conference


Sernova to also present Corporate Update as part of Company Presentations

September 10, 2020 9:00 a.m. EDT

LONDON, ONTARIO – September 10, 2020 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical-stage regenerative medicine company, announced today that Dr. Philip Toleikis, President and CEO, will be a member of the Cell and Gene Therapies for Chronic Conditions panel at the virtual 2020 Cell & Gene Meeting on the Mesa. The panel session will be available on-demand to attendees as of Thursday, October 15, 2020. Dr. Toleikis will also provide an update on Sernova’s clinical and research programs as part of the 2020 Company Presentations segment of the conference.

The panel will discuss the latest developments in Cell and Gene therapies for chronic conditions and will be moderated by Paul Laikind, Ph.D., President, and CEO of ViaCyte, Inc. In addition to Drs. Toleikis and Laikind, panelists are Pavan Cheruvu, M.D., CEO, Axovant Gene Therapies; Jane Lebkowski, Ph.D., President of R&D, Regenerative Patch Technologies, Inc.; and Emile Nuwaysir, Ph.D., President and CEO, BlueRock Therapeutics. The panel will also participate in one of only two daily Live Streaming Sessions with Questions and Answers from participants on October 13, 2020 from 12:00 – 1:00pm PST.

Sernova’s Corporate Update presentation will be available on-demand to attendees of the Virtual Cell & Gene Meeting on the Mesa throughout the conference. For more details on the panel and Sernova’s presentation, please visit www.meetingonthemesa.com.

ABOUT SERNOVA CORP. Sernova Corp is developing regenerative medicine therapeutic solutions using a medical device (Cell Pouch™) and immune protected therapeutic cells/tissues (i.e. human donor cells, corrected human cells, and stem cell- derived 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 cellular production of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device, upon implantation, is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins, hormones, or other factors as required to treat disease. Sernova is currently conducting a Phase I/II study at the University of Chicago and has demonstrated encouraging early safety and efficacy indicators. The Cell Pouch, in combination with therapeutic cells/tissues, has been shown to provide long-term safety and efficacy in preclinical models of diabetes, hemophilia A and other indications supporting our therapeutics platform.

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp. Tel: (519) 858-5126 dominic.gray@sernova.com 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.sedar.com 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 - September 09, 2020 9 September, 2020

Sernova Announces Up to $3 Million Private Placement Financing with a Lead Order of $2 Million


THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Source: Sernova Corp

September 9, 2020 9:00 a.m. EST

LONDON, ONTARIO – September 9, 2020 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical-stage regenerative medicine therapeutics company, is pleased to announce that the Company has secured a $2 million lead order in connection with a proposed non-brokered private placement.

“Strategic investors approached Sernova management following successful achievement of key milestones to provide additional financing to accelerate our recently acquired cellular local immune protection technology to the clinic with the goal to eliminate the need for systemic immune protection medications for cell therapy therapeutic applications as well as further support our U.S. Phase I/II diabetes clinical trial at the University of Chicago,” said Dr. Philip Toleikis, President & CEO Sernova Corp. “The favourable terms of the lead order also reflect investors’ optimism for Sernova’s clinical trial progression.”

Up to 10 million units of the Company would be issued in the private placement at a price of $0.30 per unit for up to $3.0 million. Each unit would consist of one common share and one full warrant. Each warrant would be exercisable into a common share at a price of $0.35 per share for a period of 24 months from the date of issue, subject to abridgment of the exercise period if the 10-day volume-weighted average price of the Company’s shares exceeds $0.50 per share.

Investors qualified under applicable securities laws interested in participating in the private placement may contact the Company (see the contact information provided below). The terms and conditions of any subscription, including qualification criteria under applicable securities laws, will be set out in the subscription agreement for the private placement.

Offering proceeds will be used to accelerate development of our recently acquired cellular local immune protection technology, further our immune-protected diabetes stem cell-derived program and support the Company’s U.S. Phase I/II diabetes clinical trial.

All securities issued in connection with the private placement will be subject to a statutory hold period of four months. Completion of the private placement is subject to the receipt of customary approvals, including approval of the TSX Venture Exchange.

This news 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 state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ABOUT SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic solutions using a medical device (Cell Pouch™) and immune protected therapeutic cells/tissues (i.e. human donor cells, corrected human cells, and stem cell- derived 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 cellular production of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device, upon implantation, is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins, hormones, or other factors as required to treat disease. Sernova is currently conducting a Phase I/II study at the University of Chicago and has demonstrated encouraging early safety and efficacy indicators. The Cell Pouch, in combination with therapeutic cells/tissues, has been shown to provide long-term safety and efficacy in preclinical models of diabetes, hemophilia A and other indications supporting our therapeutics platform.

For further information contact:

Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com 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.sedar.com 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 - August 04, 2020 4 August, 2020

Sernova Enters into Exclusive Worldwide License Agreement with University of Miami for Therapeutic Cell Immune Protection Technologies


Sernova expands its intellectual property portfolio and capabilities to develop first-in-class cell therapy solutions for type 1 diabetes and other chronic diseases that eliminate the need for life-long immunosuppression drugs

August 4, 2020 7:00 a.m. EDT

LONDON, ONTARIO – August 4, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical-stage regenerative medicine company developing a ‘functional cure’ for type 1 diabetes and other chronic diseases, announced today it has entered into an exclusive, worldwide license with the University of Miami at Coral Gables, Florida, for the commercial rights to novel conformal coating immune protection technologies. The technologies were developed by Dr. Alice Tomei, Dr. Jeffrey Hubbell, and Aaron Stock (Graduate Student). Dr. Tomei is a leading international expert in immunoprotection and diabetes immunoengineering, of the renowned Diabetes Research Institute (DRI), a designated Center of Excellence at the University of Miami Miller School of Medicine. Dr. Hubbell is the Eugene Bell Professor of Tissue Engineering at the University of Chicago and leading international researcher in immunoengineering.

This exclusive worldwide license agreement is important to Sernova because it broadens the technology scope of Sernova’s immune protection conformal coating technologies and related intellectual property. Furthermore, it adds to a series of recent strategic acquisitions and collaborations for the Company and builds on our goal of protecting Sernova’s therapeutic cells or tissues transplanted into Sernova’s Cell Pouch™ from a detrimental auto-immune system response while eliminating the need for immunosuppressive drugs in treated patients.

“Sernova is further advancing development of its novel Cell Pouch System™ as a therapeutic platform to provide cell therapy solutions to patients with chronic diseases, such as type 1 diabetes, without the current need for life-long immunosuppressive drugs. We believe, with the addition of local immune protection, our breakthrough technologies will have the potential to significantly expand access to and the availability of therapeutic solutions to millions of people as a ‘functional cure’ for the chronic diseases from which they are suffering,” said Dr. Philip Toleikis, President and CEO of Sernova Corp.

Dr. Toleikis continued, “As we continue to advance our first-in-class technologies, we have diligently selected complementary technologies developed by recognized experts in the field such as those by Dr. Tomei and colleagues to add to our Cell Pouch™ platform. With the continued expansion of our regenerative medicine therapeutics platform, we are positioning the Company at the forefront in the development of safe, functional regenerative medicine therapeutics.”

Dr. Alice Tomei, the Director of the Islet Immunoengineering Laboratory at DRI stated, “Following my postdoctoral training in Dr. Hubbell’s laboratory at École Polytechnique Fédérale de Lausanne, Switzerland, I joined the University of Miami where I have focussed my academic career in the pursuit and development of novel cellular immune protection technologies to advance the field of cell therapy. With Sernova’s goal of a ‘functional cure’ for diabetes, supported by its positive preclinical and more recent, emerging clinical safety and efficacy data from the University Chicago clinical trial, I am excited to contribute to the addition of local immune protection technologies provided by conformal coatings as the next important step towards this ultimate goal.”

ABOUT SERNOVA CORP. Sernova Corp is developing regenerative medicine therapeutic solutions using a medical device (Cell Pouch™) and immune protected therapeutic cells/tissues (i.e., human donor cells, corrected human cells and stem cell- derived 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 cellular production of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT SERNOVA’S CELL POUCH™ SYSTEM The Cell Pouch™, as part of the Cell Pouch™ System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch™, along 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 in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago.

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp. Tel: (519) 858-5126 dominic.gray@sernova.com 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.sedar.com 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 - July 16, 2020 16 July, 2020

Dr. Anke M. Schulte Joins Sernova Global Advisory Board


Veteran Pharmaceutical Executive in Regenerative Medicine Therapeutics to Contribute Corporate Development/ Strategic Expertise to Sernova

July 16, 2020 9:00 a.m. EDT

LONDON, ONTARIO – July 16, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage regenerative medicine company, announced today the creation of a Global Advisory Board, and the addition to the advisory board of Dr. Anke M. Schulte. Dr. Schulte is an internationally acclaimed expert in diabetes and cell therapy regenerative medicine and a 19-year veteran of Sanofi, a global pharmaceutical leader.

Sernova Global Advisory Board members will provide knowledge, experience and strategic insights to support the continued development and future commercialization of Sernova’s novel regenerative medicine cell therapy therapeutics platform. They will also provide advice on our clinical development programs, expansion plans for the Company, acquisition of additional technologies, as well as pharma collaborations and partnering. Said Dr. Philip Toleikis, President and CEO of Sernova, “Through years of scientific teamwork, persistence and dedication, the Sernova team has developed, refined and systematically de-risked our cell therapy therapeutics platform by generating strong preclinical data and an expanding confirmatory human clinical data set for our implantable Cell Pouch™ device and immune protected cell technologies. We believe the new Global Advisory Board, which will include international experts who are visionary leaders, will help us in transforming the promise and potential of our platform into a ‘functional cure’ for a number of serious chronic diseases.”

Toleikis added, “As its inaugural member, Dr. Schulte brings an impressive career of excellence in innovation, experience and passion in the field, and importantly has witnessed the potential of Sernova’s diabetes technologies. Dr. Schulte’s 19 years of experience in progressive positions at Sanofi, in islet biology and in the regenerative medicine cell therapy field will be invaluable in contributing to our strategic decision making as we continue to advance our technologies to commercialization.”

“In the capacity of regenerative medicine lead with Sanofi, overseeing Type 1 diabetes-related collaborations and partnering, I have been closely following the preclinical and clinical advancements of Sernova’s novel cell therapy technology platform approach for a number of years. I am honored and thrilled to join Sernova’s Global Advisory Board as I believe Sernova is on the precipice of a ‘functional cure’ for several disease indications. I look forward to serving in this important and exciting new role while working alongside talented individuals and providing my expertise as these regenerative medicine products are commercialized,” remarked Dr. Anke M. Schulte.

Dr. Schulte’s recent career highlights and achievements at Sanofi:

• Scientific Project Lead of Type 1 Diabetes (T1D) Collaborations within the Diabetes R&D unit • Leader of a Beta Cell Development Collaboration with Evotec A.G. • Project Head of the Sanofi Beta Cell Replacement Therapy program • Project Leader of the Innovative Medicines Initiative IMI2 private public partnership INNODIA: “Translational approaches to disease modifying therapy of type 1 diabetes: an innovative approach towards understanding and arresting type 1 diabetes” • Head of the Islet Biology Cluster within the Diabetes R&D unit responsible for the development of novel innovative treatment modalities, including cell therapy

Dr. Schulte earned her PhD in Biochemistry at the Technical University of Darmstadt, Department of Chemistry, and was a Postdoctoral Fellow at Georgetown University. She joined Georgetown University, Department of Pharmacology Research Faculty and was then appointed Assistant Professor at the Lombardi Cancer Center at Georgetown University. In addition to being a pharmaceutical executive, Dr. Schulte is a scholar in her own right with over 30 peer reviewed top tier scientific publications/book chapters and has presented multiple peer reviewed presentations at international scientific symposia and conferences.

ABOUT SERNOVA CORP. Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem cell-derived 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 SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along 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 in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago.

ABOUT SERNOVA’S CLINICAL TRIAL Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial at the University of Chicago to assess the safety and tolerability of islet transplantation into the company’s patented Cell Pouch in diabetic subjects with hypoglycemia unawareness. The secondary objective is to assess efficacy through a series of defined measures. Patients enrolled in Sernova’s clinical trial are incapable of producing c-peptide, a biomarker for insulin produced by islet cells. Eligible subjects are implanted with Cell Pouches. Following the development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression, and a dose of purified islets, under strict release criteria, are transplanted into the Cell Pouch. A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision is made regarding the transplant of a second islet dose with subsequent safety and efficacy follow up. Patients are then further followed for one year to assess longer-term safety and efficacy. For more information on this clinical trial, please visit www.clinicaltrials.gov/ct2/show/NCT03513939. For more information on enrollment and recruitment details, please visit www.pwitkowski.org/sernova. FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp. Tel: (519) 858-5126 dominic.gray@sernova.com 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.sedar.com 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 - June 18, 2020 18 June, 2020

Sernova Highlights Positive Results Presented at the American Diabetes Association s Virtual 80th Scientific Sessions


June 18, 2020 9:00 a.m. EDT

LONDON, ONTARIO – June 18, 2020 – Ontario – June 18, 2020 -- Sernova Corp. (TSX-V: SVA)(OTCQB: SEOVF)(FSE: PSH), a clinical-stage regenerative medicine therapeutics company, highlights positive results from its submitted abstract entitled “Clinical Validation of the Implanted Pre-Vascularized Cell Pouch™ as a Viable, Safe Site for Diabetes Cell Therapy,” selected for presentation at the American Diabetes Association’s (ADA) 80th Scientific Sessions held virtually June 12-16, 2020.

“Sernova was honored that its abstract was selected under peer review to be presented at the prestigious ADA Scientific Sessions. The findings reported in diabetic patients, demonstrate that human donor islets transplanted into Sernova’s Cell Pouch consistently demonstrate islet survival and the ability to produce the array of hormones required to treat diabetes,” said Dr. Philip Toleikis, President and CEO of Sernova.

The following provides the background of our scientific presentation:

• Cellular transplantation therapy has the potential to treat severe, chronic diseases such as Type 1 Diabetes (T1D). The transplantation site and device approach are major factors influencing successful clinical outcomes; • With new cell-based emerging technologies, there continues to be a need to find a safe, retrievable, biologically compatible device for cellular transplantation and we believe Sernova’s Cell Pouch System may provide such a solution;

• The transplantation of insulin-producing islets is a cellular replacement therapy for severe T1D in patients who experience life-threatening severe hypoglycemia unawareness events;

• In this clinical indication, Sernova has conducted a physician sponsored first-in-human study in Canada and currently has an ongoing company-sponsored Phase I/II human clinical study at the University of Chicago. In both clinical studies, patients with T1D were implanted with both sentinel (small devices removed to assess cell survival) and larger therapeutic devices, anywhere between 1 to 6 months;

• After being placed on immunosuppression, islets were isolated from donor pancreata and transplanted into patients within the device chambers. When possible, a pre-transplant sample of islets was saved for comparison to post-explant Cell Pouch islets; and

• Cell Pouches were explanted from patients, anywhere between 14-90 days post-transplant. The Cell Pouches were prepared, and sections were stained and imaged, and then reviewed by an independent clinical pathologist to assess the transplanted tissue for micro-vessel formation and vascularization; the presence of islets with insulin, C-peptide, and other endocrine hormones (such as glucagon and somatostatin); and exocrine tissue (such as pancreatic ductal tissue).

The data presented clinically demonstrate that the vascularized Cell Pouch provides a consistently safe and biologically suitable, retrievable environment for the transplantation and survival of functional islets. Specific findings based on a detailed histopathological analysis of nine Sernova Cell Pouches explanted from patients with T1D diabetes include:

• Explanted Cell Pouches show abundant, viable, organized islet cells intimately associated with blood vessels within a natural collagen matrix following transplantation without obvious rejection or infection;

o 100% showed present or abundant blood vessels;

o 89% showed present or abundant insulin;

o 78% showed present or abundant endocrine cells;

o 100% showed present or abundant ductal tissue;

• Islet cells required to control diabetes within the Cell Pouches consistently express insulin and other endocrine hormones, such as glucagon, somatostatin, and C-peptide, when identified histologically;

• Pre-transplant islet samples that show strongly expressed insulin, as well as other endocrine markers, were similarly identified in the explanted Cell Pouches following transplant; and

• The amount of islet/exocrine tissue within pre-transplanted samples was similar to that found in the Cell Pouch following transplantation.

In summary, the transplanted samples, when explanted and examined, demonstrate healthy, surviving islets with multiple cell types within the islets capable of producing the hormones that control blood sugar levels when housed in the vascularized tissue matrix of the Cell Pouch. Exocrine ductal tissue, when transplanted, also survived. The findings demonstrate the pre-transplant samples are consistent with the histology observed upon explantation of the Cell Pouch at different time points. These clinical findings demonstrate that the Cell Pouch is a viable, safe site for diabetes cell therapy.

Dr. Toleikis said, “The positive results reported in patients in this diabetes indication, implanted with Sernova’s Cell Pouch and transplanted with islets, continue to validate our Cell Pouch System cell therapy therapeutics approach. Within the emerging cell therapy field, Sernova, with its advancing cell therapies including locally immune protected stem cell-derived cells, continues to position itself as a leader in the development of a ‘functional cure’ for all patients with diabetes and other chronic diseases.“

A recording of Sernova’s ADA Scientific Session presentation is available at www.sernova.com/updates.

ABOUT SERNOVA’S CLINICAL TRIAL Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial at the University of Chicago to assess the safety and tolerability of islet transplantation into the company’s patented Cell Pouch in diabetic subjects with hypoglycemia unawareness. The secondary objective is to assess efficacy through a series of defined measures. Patients enrolled in Sernova’s clinical trial are incapable of producing c- peptide, a biomarker for insulin produced by islet cells.

Eligible subjects are implanted with Cell Pouches. Following the development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression, and a dose of purified islets, under strict release criteria, are transplanted into the Cell Pouch.

A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision is made with regard to the transplant of a second islet dose with subsequent safety and efficacy follow up. Patients are then further followed for one year to assess longer-term safety and efficacy.

For more information on this clinical trial, please visit www.clinicaltrials.gov/ct2/show/NCT03513939. For more information on enrollment and recruitment details, please visit www.pwitkowski.org/sernova.

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along 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 in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago.

ABOUT SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem cell-derived 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.

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp. Tel: (519) 858-5126 dominic.gray@sernova.com 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.sedar.com 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 - June 15, 2020 15 June, 2020

Sernova Completes Acquisition of Cellular Local Immune Protection Technology


June 15, 2020 9:00 a.m. EDT

LONDON, ONTARIO – June 15, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage regenerative medicine therapeutics company, is pleased to announce it has completed the acquisition of cellular local immune protection technology from Converge Biotech, Inc. (“Converge”).

“This acquisition is a strategic accelerator for expansion of Sernova’s total regenerative medicine cell therapy therapeutics platform,” stated Dr. Philip Toleikis, Sernova’s President and Chief Executive Officer. “Local immune protection technologies to cloak therapeutic cells have the potential to protect cells from immune system attack within Sernova’s Cell Pouch™ through different and independent mechanisms to eliminate the need for life-long immunosuppression medications.”

Pursuant to the asset acquisition, Sernova acquired all intellectual property associated with Converge’s conformal coating cell encapsulation technology (“Conformal Coating Technology”), including issued patents, patent applications, and know-how.

ABOUT SERNOVA’S CONFORMAL COATING TECHNOLOGY The Conformal Coating Technology consists of a thin proprietary coating layer that effectively cloaks coated therapeutic cells to protect them from an auto-response attack by one’s own immune system post cell transplantation into the body.

The advantages and potential benefits of this novel cell encapsulating technology are as follows:

• provides protection of therapeutic cells from immune system attack locally within Sernova’s Cell Pouch, potentially avoiding the need for life-long immunosuppression medications, that are currently required after cell transplantation;

• enables intimate contact of therapeutic cells with the vascularized tissue matrix of the Cell Pouch improving essential physiological interactions of the cells for survival and function, unlike other micro and macro-encapsulation technologies;

• improves the diffusion of small molecules and biomolecules (i.e., glucose, insulin, and other proteins or hormones), providing a physiological glucose-stimulated insulin response without delay that occurs with other encapsulation technologies; and

• with improved diffusion of biomolecules, may require a smaller load of therapeutic cells to achieve the desired therapeutic effect in comparison to standard microcapsules.

Sernova has also completed its announced $1,000,000 unsecured convertible debenture financing, with the proceeds used to fund the Conformal Coating Technology acquisition. The debenture is repayable on December 9, 2022, unless earlier converted or redeemed, and carries an 8% interest rate. The Company also issued 3,000,000 non-transferable share purchase warrants, each warrant being exercisable into one common share at a price of $0.20 per share up to December 9, 2022. The debenture holder will have the right to convert the principal amount of the debenture into common shares of Sernova at a conversion price of $0.25 per share. The debenture and warrants are subject to a four-month hold period under securities regulations.

Neither the debenture or warrants have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and such securities may therefore not be offered or sold in the United States or to or for the account or benefit of a person in the United States or a U.S. Person (as defined in Regulation S of the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the debenture units in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along 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 SERNOVA CORP. Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem-cell-derived 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

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

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.

FORWARD-LOOKING INFORMATION This news release contains 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. While Sernova considers these assumptions to be reasonable, these assumptions are inherently subject to significant scientific, business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause Sernova’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release.

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 beliefs about the effect on company operations and capital markets of events related to the COVID-19 pandemic, the conduct and outcome of discussions with strategic partners, and expected progress in preclinical programs, clinical trials and technology development. 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 - June 08, 2020 8 June, 2020

Sernova to Acquire Cellular Local Immune Protection Technology Accelerating Expansion of its Regenerative Medicine Therapeutics Platform


June 8, 2020 8:00 a.m. EDT

LONDON, ONTARIO – June 8, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical-stage regenerative medicine therapeutics company, announced today its acquisition of an innovative cellular immune protection technology. This acquisition represents a strategic accelerator for expansion of Sernova’s total regenerative medicine cell therapy therapeutics platform.

Said Dr. Philip Toleikis, President and CEO Sernova Corp., “This is a game-changer for Sernova. We have strategically focused on adding local immune protection technologies to our portfolio as they represent the last essential pillar for our cell therapy therapeutics platform. This technology acquisition, in addition to our recently announced collaboration with AgeX Therapeutics, Inc. to use their UniverCyte™ gene-editing technology to protect cells, positions Sernova with multiple potential approaches to guard therapeutic cells within our Cell Pouch against host immune-response across multiple clinical applications.”

Pursuant to an asset purchase agreement with Converge Biotech, Inc. (“Converge”), Sernova is acquiring all intellectual property associated with Converge’s conformal coating cell encapsulation technology (“Conformal Coating Technology”), including issued patents, patent applications, and know-how. The transaction is expected to close by June 11, 2020.

“Conformal coating technology could be very synergistic with the Sernova Cell Pouch, as it could confer protection from the immune attack, decreasing or eliminating the need for immunosuppressive drugs. The minimal volume of the conformal capsules makes it possible to include immuno-protected insulin-producing cells in the Sernova Cell Pouch. If the combination of these technologies proves successful, it will represent an important step towards elimination of the need for immunosuppressive medications, bringing a functional cure closer to reality for patients suffering from this debilitating disease,” said Dr. Camillo Ricordi, Stacy Joy Goodman Professor of Surgery and Chief, Division of Cellular Transplantation, Distinguished Professor of Medicine, Professor of Biomedical Engineering, Microbiology and Immunology and Director, Diabetes Research Institute and Cell Transplant Center. The Diabetes Research Institute (DRI) is a designated Center of Excellence at the University of Miami Miller School of Medicine.

Why is the Conformal Coating Technology Important?

The Conformal Coating Technology consists of a thin proprietary coating layer that effectively cloaks coated therapeutic cells to protect them from an auto-response attack by one’s own immune system post cell transplantation into the body.

The advantages and potential benefits of this cell encapsulating technology are as follows: • provides protection of the therapeutic cells from immune system attack locally within the Cell Pouch chambers potentially avoiding the need for life-long immunosuppression medications, that are typically required after cell transplantation; • enables close contact of the transplanted therapeutic cells with the vascularized tissue matrix within the Cell Pouch to enable closer interactions unlike standard microencapsulation technologies in which the capsules are significantly larger than the cells limiting required tissue interactions; • improves the diffusion of small molecules and biomolecules (i.e., glucose, insulin, and other proteins or hormones), providing a physiological glucose-stimulated insulin response without delay that occurs with other encapsulation technologies; and • due to the improved diffusion of biomolecules, it may require a smaller load of therapeutic cells to achieve the desired therapeutic effect in comparison to standard microcapsules.

Local immune protection technologies to cloak cells, such as the Conformal Coating Technology and the UniverCyte™ gene technology, have the potential to protect cells from immune system attack within Sernova’s Cell Pouch through different and independent mechanisms.

“The potential to eliminate antirejection medications with these complementary technologies to our proprietary Cell Pouch, both for human donor and stem cell-derived cells, will enable us to increase patient safety and quality of life, and significantly expand the number of treatable patients suffering from chronic diseases. With extensive preclinical studies already conducted at DRI, we look forward to the possibility of advancing this local immune protection technology into human trials following successful preclinical proof-of-concept testing. We believe that this could accelerate Sernova’s opportunity to be first-to-market to provide a functional cure to the many diabetic patients worldwide. Our vision is to bring a new standard of care approach for chronic debilitating diseases to the healthcare landscape,” said Dr. Philip Toleikis.

Acquisition Funding To fund the Conformal Coating Technology acquisition, Sernova will issue to a strategic investor a $1,000,000 convertible debenture that is unsecured, repayable in 30 months (unless earlier converted or redeemed), and carries an 8% interest rate (the “Debenture”). The Company will also issue 3,000,000 non-transferable share purchase warrants (the “Warrants”) to the strategic investor, each Warrant being exercisable into one common share at a price of $0.20 per share for 30 months. The Debenture holder will have the right to convert the principal amount of the Debenture into common shares of Sernova at a conversion price of $0.25 per share. “Securing the debenture financing commitment on these favorable terms when Sernova’s Covid-19 impacted shares were trading in the range of $0.13-0.15 was strategic to reduce our cost of capital and minimize both dilution and any impact on existing cash resources,” said David Swetlow, Sernova’s CFO.

Neither the Debenture or Warrants have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and such securities may therefore not be offered or sold in the United States or to or for the account or benefit of a person in the United States or a U.S. Person (as defined in Regulation S of the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the debenture units in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along 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 SERNOVA CORP. Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem-cell-derived 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

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

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.

FORWARD-LOOKING INFORMATION This news release contains 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, and include statements about the closing of the Conformal Coating Technology acquisition and the Debenture issuance and funding. 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. While Sernova considers these assumptions to be reasonable, these assumptions are inherently subject to significant scientific, business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause Sernova’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release.

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 beliefs about the effect on company operations and capital markets of events related to the COVID-19 pandemic, the conduct and outcome of discussions with strategic partners, and expected progress in preclinical programs and clinical trials. 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 - June 03, 2020 3 June, 2020

Sernova to Present Clinical Validation of the Cell Pouch as a Viable, Safe Site for Diabetes Cell Therapy at the American Diabetes Association Virtual 80th Scientific Sessions


LONDON, ONTARIO – June 3, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical-stage regenerative medicine therapeutics company, is pleased to announce that its submitted abstract entitled “Clinical Validation of the Implanted Pre-Vascularized Cell Pouch as a Viable, Safe Site for Diabetes Cell Therapy” has been selected for presentation at the upcoming American Diabetes Association’s (ADA) Virtual 80th Scientific Sessions to be held June 12-16, 2020. Sernova’s presentation (ePoster 205-LB) will be available to conference attendees beginning June 13, 2020, at 11:00 am EDT.

“We are pleased to have the opportunity to present these scientific results at the ADA’s Virtual 80th Scientific Sessions,“ said Dr. Philip Toleikis, President and CEO of Sernova.

All information contained in the submitted abstract should be considered preliminary and subject to change until the study is fully presented at the 80th Scientific Sessions. All information is subject to embargo until June 13, 2020, at 11:00 am EDT.

ABOUT SERNOVA’S CLINICAL TRIAL Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial at the University of Chicago to assess the safety and tolerability of islet transplantation into the company’s patented Cell Pouch in diabetic subjects with hypoglycemia unawareness. The secondary objective is to assess efficacy through a series of defined measures. Patients enrolled in Sernova’s clinical trial are incapable of producing c- peptide, a biomarker for insulin produced by islet cells.

Eligible subjects are implanted with Cell Pouches. Following the development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression, and a dose of purified islets, under strict release criteria, are transplanted into the Cell Pouch.

A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision is made with regard to the transplant of a second islet dose with subsequent safety and efficacy follow up. Patients are then further followed for one year to assess longer-term safety and efficacy.

For more information on this clinical trial, please visit www.clinicaltrials.gov/ct2/show/NCT03513939. For more information on enrollment and recruitment details please visit www.pwitkowski.org/sernova.

ABOUT SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along 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 in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago.

ABOUT SERNOVA CORP. Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem cell-derived 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.

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp. Tel: (519) 858-5126 dominic.gray@sernova.com 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.sedar.com 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 29, 2020 29 May, 2020

AgeX Therapeutics and Sernova to Collaborate to Engineer Universal Locally Immune Protected Cell Therapies for Type I Diabetes and Hemophilia A


Sernova to utilize AgeX’s UniverCyteTM gene technology to generate transplantable, universal immune- protected therapeutic cells for Sernova’s Cell Pouch™ Platform

May 29, 2020 8:00 a.m. EDT

ALAMEDA, California & LONDON, Ontario -- May 29, 2020 -- AgeX Therapeutics, Inc. (“AgeX”: NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, and Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical-stage regenerative medicine therapeutics company, announced today a research collaboration where Sernova will utilize AgeX’s UniverCyteTM gene technology to generate immune-protected universal therapeutic cells for use in combination with Sernova’s Cell PouchTM for the treatment of type I diabetes and hemophilia A. The goal is to eliminate the need for immunosuppressive medications following Cell Pouch cell transplantation.

The research collaboration will evaluate whether Sernova’s pluripotent stem cell-derived pancreatic islet beta cells engineered with AgeX’s UniverCyte technology can evade human immune detection. The complementary combination of technologies could enable the transplantation of therapeutic cells in patients with type I diabetes in an off-the-shelf manner using Sernova’s Cell Pouch, without human leukocyte antigen (HLA) tissue matching or concurrent administration of immunosuppressive medications. With a similar intent, pluripotent stem cell-derived or adult donor-derived human Factor VIII-releasing cells modified with AgeX’s UniverCyte will be evaluated in Sernova’s hemophilia A program.

Under the terms of the agreement, Sernova has been granted a time-limited, non-exclusive research license by AgeX. A commercial license for Sernova to utilize UniverCyte to engineer cellular products for therapeutic and commercial purposes may be negotiated between the companies pending successful study outcomes.

The UniverCyte technology aims to mask therapeutic cells derived from pluripotent stem cells or adult donors from human immune detection to allow for off-the-shelf cellular products without the need for immunosuppressant medications which may have potent side effects, or HLA-matching between donor and patient. UniverCyte uses a novel, modified form of HLA-G, a potent immunomodulatory molecule, which in nature protects an unborn child from their mother’s immune system. In almost all human cells, native HLA-G expression is silenced after birth. AgeX’s modified HLA-G shows evidence of being resistant to this silencing, thereby potentially allowing for long-term, stable and high expression of the immunomodulatory effect.

Sernova plans to utilize the universal therapeutic cells generated through this research collaboration with its Cell Pouch System, a proprietary, scalable, implantable macro-encapsulation device, which, upon implantation, incorporates with tissue and forms highly vascularized chambers. These chambers become a natural environment in the body to house and favor long-term survival and function of therapeutic cells. The Cell Pouch System has shown initial safety and efficacy indicators in an ongoing Phase I/II clinical study at the University of Chicago and in a preclinical model of hemophilia A when assessed with human cells corrected to produce Factor VIII.

“We are thrilled with our collaboration with Sernova, which is at the forefront of cellular therapies for diabetes and hemophilia and is already in the clinic for the former. The combination of AgeX’s UniverCyte to cloak cells from a patient’s immune system and Sernova’s Cell Pouch technologies to permit cells to function long-term upon transplantation would be a landmark for regenerative medicine. This deal marks another important step in AgeX’s collaboration and licensing strategy to work with the very best people, companies and institutions in the world of regenerative medicine,” said Dr. Nafees Malik, Chief Operating Officer of AgeX.

“We look forward to working with AgeX and its outstanding team as we continue to identify and evaluate technologies complementary to Sernova’s therapeutic platform and expand our immune protection offerings. AgeX’s UniverCyte technology is a significant advancement in the field of cell therapy and a perfect fit with Sernova’s Cell Pouch technologies and therapeutic pipeline with its potential benefit over current immunosuppressive strategies for regenerative medicine therapeutics,” said Dr. Philip Toleikis, President and CEO of Sernova Corp.

About AgeX Therapeutics AgeX Therapeutics, Inc. (NYSE American: AGE) is focused on developing and commercializing innovative therapeutics for human aging. Its PureStem® and UniverCyte™ manufacturing and immunotolerance technologies are designed to work together to generate highly defined, universal, allogeneic, off-the-shelf pluripotent stem cell-derived young cells of any type for application in a variety of diseases with a high unmet medical need. AgeX has two preclinical cell therapy programs: AGEX-VASC1 (vascular progenitor cells) for tissue ischemia and AGEX-BAT1 (brown fat cells) for Type II diabetes. AgeX’s revolutionary longevity platform induced Tissue Regeneration (iTR™) aims to unlock cellular immortality and regenerative capacity to reverse age-related changes within tissues. AGEX-iTR1547 is an iTR-based formulation in preclinical development. HyStem® is AgeX’s delivery technology to stably engraft PureStem cell therapies in the body. AgeX’s core product pipeline is intended to extend human healthspan. AgeX is seeking opportunities to establish licensing and collaboration arrangements around its broad IP estate and proprietary technology platforms and therapy product candidates. For more information, please visit www.agexinc.com or connect with the company on Twitter, LinkedIn, Facebook, and YouTube.

About Sernova Corp. Sernova Corp is developing regenerative medicine therapeutic technologies using the Cell Pouch System, a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem-cell-derived 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 Forward-Looking Statements for AgeX Certain statements contained in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not historical fact including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates” should also be considered forward-looking statements. Forward-looking statements involve risks and uncertainties. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the business of AgeX Therapeutics, Inc. and its subsidiaries, particularly those mentioned in the cautionary statements found in more detail in the “Risk Factors” section of AgeX’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commissions (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. AgeX specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Forward-Looking Statements for Sernova 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 including those related to the potential of Univercyte combined with Sernova’s technologies 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 beliefs about the effect on company operations of the COVID- 19 virus and conduct and outcome of discussions, clinical programs, and our clinical trials. 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.

Media Contact for AgeX: Jeffrey Janus VP, Sales and Marketing jjanus@agexinc.com

Media Contact for Sernova: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

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Press Release Communiqué de presse - May 26, 2020 26 May, 2020

SERNOVA ANNOUNCES CHANGE OF LOCATION OF ANNUAL MEETING OF SHAREHOLDERS


May 26, 2020 - For Immediate Release

LONDON, ONTARIO – May 26, 2020 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF)(FSE:PSH) (the "Corporation" or "Sernova") announces that the Board of Directors of the Corporation have considered current COVID-19 public health restrictions and determined it to be in the best interests of the Corporation and its shareholders to change the location of the Corporation's annual meeting of shareholders ("AGM") to the offices of Sernova at 700 Collip Circle, Suite 114, London, Ontario N6G 4X8. The AGM will be held on Friday, May 29, 2020, at 12:00 p.m. (Eastern Time). Shareholders are reminded to submit their votes by proxy before the proxy deadline of 12:00 p.m. (Eastern Time) on Wednesday, May 27, 2020. Shareholders may choose to attend the meeting by teleconference but will not be able to vote via teleconference. All other matters of the AGM remain the same as published in the AGM proxy materials mailed to the shareholders and posted at www.sedar.com.

The conference call details for shareholders to call into the AGM are set out below.

US Toll-Free: + 1-877-366-0711 Canada Toll-Free: + 1-866-627-1651 Int’l Toll-Free: + 1-302-709-8446 The conference participant passcode is 109 985 50.

Following the AGM, Sernova will hold a CEO conference call at 1:00 p.m. (Eastern Time) for its shareholders and investors. The CEO conference call details are set out below.

https://zoom.us/j/96039720141?pwd=TThubnVBSE1kb2hudzQ1TVZ0OEovUT09 Meeting ID: 960 3972 0141 Password: Sernova

A recording will be available following the meeting at www.sernova.com/investor/agm

About Sernova's Cell Pouch System The Cell Pouch™, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macroencapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along 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 Sernova Corp. Sernova Corp. is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem-cell-derived 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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com

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Press Release Communiqué de presse - May 19, 2020 19 May, 2020

Sernova Highlights Achievements of the HemAcure Hemophilia Cell Therapy Program Presented at ASGCT


Sernova’s Cell Pouch transplanted with Factor VIII corrected human cells shows robust functional blood clotting improvement demonstrating a novel first-in-class ex vivo gene therapy cell-based approach for the treatment of hemophilia A

May 19, 2020 9:00 a.m. EDT LONDON, ONTARIO – May 19, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical-stage regenerative medicine therapeutics company, highlights positive results associated with the development of a novel, safe cell therapy approach, including our proprietary Cell Pouch™, for the treatment of hemophilia A as presented on May 15, 2020, by the Horizon 2020 HemAcure Consortium at the American Society of Gene and Cell Therapy’s 23rd Annual Meeting (ASGCT).

The aim of the HemAcure three-year project was to develop a permanent safe therapeutic solution for those living with hemophilia A in the form of a novel ex vivo gene therapy, cell-based approach within Sernova’s proprietary Cell Pouch. This combination therapy strives to permanently replace missing clotting human factor VIII (FVIII) in the patient’s own Blood Outgrowth Endothelial Cells (BOECs) transplanted into the Cell Pouch. These corrected cells are to function to release FVIII into the bloodstream restoring the ability for blood clotting to occur during periods of bleeding.

The following are highlights of the results presented • BOECs were safely isolated and grown from a small sample of circulating peripheral blood of volunteer Hemophilia A patients unable to express the required FVIII for clotting. • To regain the function of the BOECs ability to produce clotting FVIII, techniques were successful in safely inserting the gene responsible for the correction and production of human FVIII into the patient’s BOECs, and these corrected cells were safely multiplied to increase their number. • Tests were conducted to ensure the safety, and the newly corrected BOECs produced enough human FVIII both in the laboratory and in an initial preclinical animal model deficient of FVIII. FVIII blood levels reached up to 10%, a therapeutically relevant level of FVIII. • To further test cell dose-response, in the preclinical model of hemophilia A, animals originally unable to clot their blood were implanted with a small vascularized Cell Pouch and transplanted with two different doses of human BOECs corrected for the ability to produce human FVIII. • To assess the safety of the combined product, the Cell Pouch and corrected human FVIII BOECs derived from the volunteer participants with hemophilia A were examined using histological analyses. Importantly, histology showed healthy tissue represented by the presence of stromal growth and new blood vessel formation within the Cell Pouch. • Further, histological investigation of the transplanted Cell Pouch sections demonstrated long-term survival of human FVIII BOECs present within the vascularized Cell Pouch achieved through co-staining for blood vessels (von Willebrand Factor stain) and the presence of the patients corrected human cells (HLA-ABC stain). • In both experimental doses, human FVIII was detected in circulating peripheral blood up to 16 weeks following transplantation, with more human FVIII present in peripheral blood using the higher dose of corrected BOECs. • Data further confirmed functional clotting improvement in the blood at the four months time point where FVIII BOECs transplanted into the hemophilia A mouse model restored the animals FVIII activity at a therapeutic level in the Cell Pouch.

In summary, these results demonstrate the success of the HemAcure Consortium team in developing a novel approach for the treatment of hemophilia A using an ex vivo gene therapy, cell-based technology that could lead to improved efficacy and quality of life of people suffering from hemophilia A.

“These promising results of the HemAcure consortium are paving the way for future human clinical testing in hemophilia A patients using Sernova’s technologies transplanted with corrected FVIII cells developed by this prestigious international team. This initiative continues to support the value of collaborative efforts involving Sernova’s regenerative medicine technologies in both diabetes and now rare diseases such as hemophilia A,” said Dr. Philip Toleikis, President and CEO of Sernova Corp.

ABOUT HEMACURE The overall objective of the HemAcure Project is to develop and refine the tools and technologies for a novel ex vivo prepared cell-based therapy to treat the bleeding disease, hemophilia A (caused by a genetic deficiency in clotting factor VIII) that should ultimately lead to improved quality of life of the patients. The European Union’s Horizon 2020 Research and Innovation program awarded approximately €5.5 million (~CDN$8.5 million) to support the project. International consortium members include the University Hospital Würzburg (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. For more information, visit www.hemacure.eu

ABOUT SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along 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 SERNOVA CORP. Sernova Corp. is developing regenerative medicine cell therapy therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem cell-derived 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.

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp. Tel: (519) 858-5126 dominic.gray@sernova.com 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, including those pertaining to the development of a therapeutic product to treat hemophilia A 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.sedar.com 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 12, 2020 12 May, 2020

Sernova Announces Presentation of HemAcure Hemophilia Program Results at 23rd Annual Meeting of the American Society of Gene and Cell Therapy


May 12, 2020 9:00 a.m. EDT

LONDON, ONTARIO – May 12, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical-stage regenerative medicine therapeutics company, is pleased to announce that the Horizon 2020 HemAcure Consortium will present scientific results of the consortium’s research in an abstract entitled Combined Gene and Cell Therapy for the Treatment of Hemophilia A within an Implantable Therapeutic Device in an oral presentation during the ASGCT 23rd Annual Meeting, which is being held in virtual format May 12-15, 2020. The abstract will be presented on May 15 at 11:30 am EDT.

The abstract being presented describes scientific results of the HemAcure Consortium’s research to develop a novel ex vivo cell-based therapy for the treatment of Hemophilia A using Sernova’s Cell Pouch™ and paves the way for future clinical testing. Abstract 1359 can be viewed at: https://www.asgct.org/global/documents/abstract-pdf-final-4-30?_zs=S2i4b&_zl=U9052

“The Horizon 2020 grant program enabled international experts and innovators in their field, including the Sernova team, to form the HemAcure Consortium to advance the next-generation cell-based regenerative medicine therapy aimed to improve the quality of life for people with hemophilia A. We are excited for members of the HemAcure team to present additional scientific updates at the ASGCT Annual Meeting that further supports Sernova’s technologies and their potential in a novel future therapeutic treatment for hemophilia A,” said Dr. Philip Toleikis, President and CEO of Sernova Corp.

ABOUT HEMACURE The overall objective of the HemAcure project is to develop and refine the tools and technologies for a novel ex vivo prepared cell-based therapy to treat the bleeding disease, hemophilia A (caused by a genetic deficiency in clotting factor VIII (FVIII)) that should ultimately lead to improved quality of life of the patients. The European Union’s Horizon 2020 research and innovation program has awarded approximately €5.5 million (CDN$8.5) to support the project. International consortium members include the University Hospital Würzburg (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. For more information, visit www.hemacure.eu

ABOUT SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along 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 SERNOVA CORP. Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells ( i.e., human donor cells, corrected human cells and stem cell-derived 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.

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp. Tel: (519) 858-5126 dominic.gray@sernova.com 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.sedar.com 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 27, 2020 27 April, 2020

Sernova Advances Annual General Meeting and CEO Teleconference to Friday May 29


April 27, 2020 9:00 a.m. EDT

LONDON, ONTARIO – April 27, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH) announced today, with its continued COVID-19 vigilance, social gathering size restrictions in effect imposed by public health authorities and the now anticipated near term relaxation of certain COVID-19 public health-related restrictions, the Annual General Meeting (AGM) and CEO teleconference call originally scheduled for Thursday, April 30, 2020, has been adjourned to May 29, 2020, at 9:00 a.m. and 10:00 a.m. (Pacific Time), respectively. All other aspects of the AGM remain the same as published in the AGM materials, filed on www.sedar.com and available on www.sernova.com/investor/agm.

“Sernova has historically encouraged its shareholders to attend our AGM in person. Given the current restrictions imposed by the Canadian and provincial governments to reduce the spread of COVID-19, including restrictions on social gatherings, and travel, and feedback from our shareholders desiring to attend, we have decided to adjourn the AGM for 30 days to ensure the safety of everyone who may want to attend the meeting and to continue doing our part to help “flatten the curve.” We continue to monitor the COVID-19 situation actively and update our company policies accordingly to make proactive adjustments, and we appreciate our shareholders’ support while we safely continue our operations,” stated Dr. Philip Toleikis, President and CEO of Sernova.

The conference call details for the Annual Meeting of Shareholders are set out below.

US Toll-Free: + 1-877-366-0711

Canada Toll-Free: + 1-866-627-1651

Int’l Toll-Free: + 1-302-709-8446

The conference participant passcode is 109 985 50. Following the conference call, a recording will be available at www.sernova.com/investor/agm

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch™, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along 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 SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem-cell-derived 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

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com 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 are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the effect on company operations of the COVID-19 virus and conduct and outcome of discussions, clinical programs, and our clinical trials. 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 21, 2020 21 April, 2020

Important COVID-19 Safety Measures for Sernova s 2020 Annual Meeting of Shareholders


April 21, 2020 9:00 a.m. EDT

LONDON, ONTARIO – April 21, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical-stage regenerative medicine therapeutics company, announced today that it is implementing safety measures for its upcoming Annual Meeting of Shareholders (“AGM”) to be held in Vancouver, BC on April 30, 2020, in response to public health authority guidelines issued concerning the COVID-19 pandemic.

Public health authorities across Canada continue to advise that both in-person contact and the congregation of groups be minimized in order to mitigate the risk of COVID-19 exposure or infection. Accordingly, shareholders are requested and strongly encouraged to vote electronically or by proxy on the matters before the meeting rather than attending the AGM in person. Voting instructions have been mailed to shareholders, and AGM related documents are accessible at www.sernova.com/investor/agm/. Immediately following the formal AGM, Sernova will host a conference call, and Dr. Philip Toleikis, President and CEO, will provide an update on Sernova’s activities and respond to shareholder questions. Questions may be submitted to info@sernova.com prior to the call.

“The health and well-being of our shareholders, employees, collaborators, and communities, as well as preventing the spread of the COVID-19 virus is of utmost importance. We have been closely monitoring the COVID-19 situation and updating our company policies accordingly to make proactive adjustments and continue operations while doing our part to help ‘flatten the curve.’ We appreciate our shareholders’ cooperation and understanding as the world navigates through these unprecedented times,” said Dr. Philip Toleikis, President and CEO of Sernova Corp.

The conference call details for the Annual Meeting of Shareholders are set out below.

US Toll-Free: + 1-877-366-0711

Canada Toll-Free: + 1-866-627-1651

Int’l Toll-Free: + 1-302-709-8446

The conference participant passcode is 109 985 50. Following the conference call, a recording will be available at www.sernova.com/investor/agm

ABOUT SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along 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 SERNOVA CORP. Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem-cell-derived 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

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com 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 are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the effect on company operations of the COVID-19 virus and conduct and outcome of discussions, clinical programs, and our clinical trials. 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 24, 2020 24 March, 2020

Sernova Provides Corporate Update and Outlook for 2020


March 24, 2020 9:00 a.m. EDT

LONDON, ONTARIO – March 24, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage regenerative medicine therapeutics company, today provided a corporate update and outlook for 2020.

Dr. Philip Toleikis, President and CEO of Sernova Corp., remarked, "The past year has been one of significant advancement and success for Sernova's clinical and preclinical programs. We are pleased with the progress, including increased patient enrollment and early observations from our US Phase I/II clinical trial for people with type 1 diabetes and severe hypoglycemia unawareness. Advancements have also been made with preclinical initiatives for our Cell Pouch System™ platform relating to the development of stem cell-derived islets toward the ultimate goal of developing an unlimited source of therapeutic cells for diabetes, factor VIII producing cells for hemophilia A and a novel treatment for people with hypothyroid disease. We also continue to evolve and make progress with our pharma and academic collaborations. Despite the current COVID-19 environment, we are encouraged with the path ahead for Sernova and what we expect to achieve in 2020 to enhance long-term shareholder value."

The following enumerates recent progress and achievements for Sernova's pipeline by therapeutic indication and area of interest.

Diabetes

We are currently conducting a US Phase I/II clinical trial in type 1 diabetic patients with severe hypoglycemia unawareness – entitled "Safety, Tolerability and Efficacy Study of Sernova's Cell Pouch™ for Clinical Islet Transplantation" - at the University of Chicago ("US Phase I/II Cell Pouch Clinical Trial").

Key requirements for a successful diabetes regenerative medicine approach have been our focus, more specifically, these include first ensuring robust survival of insulin-producing cells within our Cell Pouch and proof of insulin release into the bloodstream in subjects with no ability to produce insulin prior to Cell Pouch transplant.

The following represents significant achievements for the US Phase I/II Cell Pouch Clinical Trial:

• Increased number of patients enrolled and transplanted in our clinical trial. In the most advanced patient treated with the Cell Pouch and insulin-producing islets, abundant and surviving vascularized insulin-producing islets were confirmed in the sentinel Cell Pouch by independent pathologist assessment following 90 days transplant.

 Why is this important? This early efficacy endpoint within the sentinel Cell Pouch is an indicator of transplanted islet health in the therapeutic Cell Pouches remaining in the patient, including the islets ability to read blood sugar and produce insulin into the bloodstream.

• Enduring bloodstream levels of insulin from the Cell Pouch transplanted islet cells in the fasting patient was shown through detection of C-peptide, a biomarker of insulin produced by the islet cells.

 Why is this important? This finding, combined with glucose-stimulated C-peptide and other early efficacy indicators observed, is an indication of a normalizing response by the Cell Pouch therapeutic cells to the body's varied need for insulin production, i.e. an indicator and evidence of ongoing islet survival within the vascularized environment of the Cell Pouch.

• The independent Data Safety Monitoring Board (DSMB) completed its first review of our US Phase I/II Cell Pouch Clinical Trial. No safety concerns were raised, and continuation of the clinical study was recommended.

 Why is this important? Independent DSMB review of the trial on a yearly basis in compliance with FDA guidelines and confirmation of favorable safety profile of the Cell Pouch and islets.

Hemophilia A

• The HemAcure Consortium, a collaboration including Sernova and a team of European academic investigators that received €5.6M funding from the EU Horizon 2020 program, successfully completed its objective to research and develop a therapeutic approach that would provide constant delivery of factor VIII to normalize blood levels in an effort to significantly improve the quality of life of patients suffering from hemophilia A.

• A series of breakthroughs were achieved demonstrating success in correcting cells from the blood of patients with hemophilia A to produce the required factor VIII protein within the implanted Cell Pouch resulting in improvement in blood clotting in an animal model of hemophilia A in preparation for future completion of formal preclinical studies and potential advancement to human clinical trials. Hypothyroid Disease

• Sernova has established a collaboration with Dr. Sam Wiseman of the University of British Columbia for development of a novel Cell Pouch Cell Therapy approach with the goal to reverse the serious effects of hypothyroidism, which occurs following removal of the thyroid gland in over 150,000 patients each year in the US.

• This collaboration, supported by Sernova and a Transplant Research Foundation (TRF) of British Columbia Transplant Venture grant award, has made important advancements, and study results are anticipated for release in 2020.

Local Immune Protection Technologies

• Local immune protection of therapeutic cells within the Cell Pouch would represent a major advance in cell therapy as it would reduce or eliminate the need for immunosuppression drugs and reduce both the potential of side effects and risk profile for cell therapy patients.

• We are continuing to evaluate local immune protection approaches with the objective of providing locally immune protected therapeutic cells within our Cell Pouch to improve current cell therapy treatment options.

Collaborations

• Sernova's current collaborations with leading pharma, medtech, and academic researchers are progressing according to plan. We continue to field collaboration inquiries from other international and large regional pharma companies.

• Current collaborations include the assessment of safety and efficacy of combined technologies in preclinical studies, which could lead to strategic development or commercial partnership opportunities for diabetes and our other platform technologies.

2020 Outlook

Some of our key initiatives for 2020 include:

• Focusing on patient enrollment completion which includes Cell Pouch implantation and the continued advancement of our US Phase I/II Cell Pouch Clinical Trial;

• Evolving stem cell-derived islet technologies, with the end goal to provide an unlimited supply of stem cell-derived islet cells for the anticipated treatment of any person inflicted with insulin-dependent diabetes;

• Continuing the evaluation of alternative novel local immune protection technologies for therapeutic cells, to be used in conjunction with our Cell Pouch technologies, for potential in-licensing or acquisition;

• Advancing further IND enabling preclinical proof of concept studies for the treatment of postoperative hypothyroid disease;

• Developing additional collaborations with pharma companies; and

• Releasing results of our research through publications in peer-reviewed scientific journals and conferences.

"While COVID-19 has introduced uncertainties for all people and businesses worldwide, we are proactively evolving how we operate and are adopting alternative methods and approaches to enable us to carry on our business and the US Phase I/II Cell Pouch Clinical Trial with the goal of mitigating potential impact. We are also continuing to advance our scientific, clinical and business activities within the context of the COVID-19 situation and are committed to following the evolving guidelines recommended by WHO, CDC, and the Federal and Provincial Governments of Canada to protect the safety of our employees and families, collaborators and business partners," said Dr. Philip Toleikis. He continued, "Despite the current environment, we are focused and committed to build upon our recent clinical and preclinical program achievements towards further important advancements in 2020 to deliver long-term value to our shareholders."

ABOUT SERNOVA'S CLINICAL TRIAL

Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial to assess the safety and tolerability of islet transplantation into the company's patented Cell Pouch in participants with diabetes and hypoglycemia unawareness. The secondary objective is to assess efficacy through a series of defined measures. Importantly, patients enrolled in Sernova's clinical trial are incapable of producing C- peptide, a marker of insulin produced by islet cells prior to implantation of Sernova's Cell Pouch and therapeutic cells.

Eligible subjects are implanted with Cell Pouches. Following the development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression and a dose of purified islets, under strict release criteria, transplanted into the Cell Pouch.

A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision is made with regards to the transplant of a second islet dose with subsequent safety and efficacy follow up. Patients are then further followed for one year to assess longer term safety and efficacy.

For more information on this clinical trial, please visit www.clinicaltrials.gov/ct2/show/NCT03513939. For more information on enrollment and recruitment details, please visit www.pwitkowski.org/sernova.

ABOUT SERNOVA'S CELL POUCH SYSTEM

The Cell Pouch as part of the Cell Pouch System is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells which then release proteins and hormones as required to treat disease. The Cell Pouch along 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 SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells, i.e. human donor cells, corrected human cells and stem cell derived 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

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com 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 future 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 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.sedar.com 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 - February 17, 2020 17 February, 2020

Sernova to Present Corporate Update at Noble Capital Markets Investor Conference


February 17, 2020 9:00 a.m. EDT

LONDON, ONTARIO – February 17, 2020 – Sernova Corp (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical- stage regenerative medicine therapeutics leader announced today that President and CEO Dr. Philip Toleikis will present at NobleCon16 on February 18th at 2:00 p.m. NobleCon16 is Noble Capital Markets' 16th Annual Investor Conference featuring emerging growth companies being held at the Seminole Hard Rock Hotel & Casino, Hollywood, Florida from February 17-18th, 2020.

A high-definition, video webcast of the presentation will be available the following day on Sernova’s website www.sernova.com and available at www.nobleconference.com and on Channelchek, Noble’s investor portal www.channelchek.com.

ABOUT SERNOVA’S CLINICAL TRIAL

Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial to assess the safety and tolerability of islet transplantation into the company’s patented Cell Pouch in diabetic subjects with hypoglycemia unawareness. The secondary objective is to assess efficacy through a series of defined measures. Patients enrolled in Sernova’s clinical trial are incapable of producing C-peptide, a biomarker for insulin produced by islet cells.

Eligible subjects are implanted with Cell Pouches. Following the development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression and a dose of purified islets, under strict release criteria, transplanted into the Cell Pouch.

A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision is made with regards to the transplant of a second islet dose with subsequent safety and efficacy follow up. Patients will be then further followed for one year to assess longer-term safety and efficacy.

For more information on the clinical trial A Safety, Tolerability and Efficacy Study of Sernova's Cell Pouch™ for Clinical Islet Transplantation, please visit www.clinicaltrials.gov/ct2/show/NCT03513939. For more information on enrollment and recruitment details please visit www.pwitkowski.org/sernova.

ABOUT SERNOVA CORP Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived 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

For further information contact: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com 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 are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. 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 - February 13, 2020 13 February, 2020

Sernova Achieves Positive Efficacy Endpoint in Phase I/II Clinical Trial for Type 1 Diabetes


Most advanced subject in the clinical trial continues to show positive indicators of islet function following islet transplant into the Cell Pouch

February 13, 2020 9:00 a.m. EDT

LONDON, ONTARIO – February 13, 2020 – Sernova Corp (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage company and regenerative medicine therapeutics leader, is pleased to announce that Sernova’s first treated patient in its Phase I/II clinical trial of its Cell Pouch with therapeutic cells for type 1 diabetes at the University of Chicago, has demonstrated survival of endocrine tissue (insulin-producing islets) in the sentinel Cell Pouch following 90 days transplant.

This efficacy outcome, namely, survival of endocrine tissue (insulin-producing islets) in the sentinel Cell Pouch following 90 days transplant, is measured by positive staining of islets during histological analysis. According to the independent pathologist who conducted the analysis, “The explanted sentinel pouch shows abundant viable, organized islet cells intimately associated with blood vessels within a collagen matrix after 90 days of transplantation. These surviving islet cells strongly express insulin.” A representative histological image from the islet-transplanted mini-sentinel Cell Pouch explanted from a patient at 90 days post-transplant. Islets with positive insulin staining (red), and new blood vessels (green) are detected. (A Safety, Tolerability and Efficacy Study of Sernova's Cell Pouch™ for Clinical Islet Transplantation.)

This achievement is important because it is an indicator of transplanted islet health in the therapeutic Cell Pouches remaining in the subject, including the islets ability to produce insulin into the bloodstream. This has been demonstrated by our previous reported findings of blood levels of both glucose-stimulated and fasting C- peptide as well as other efficacy indicators in this patient who had no measurable levels of this biomarker of insulin prior to the Cell Pouch islet transplant.

“We believe these accumulating positive results continue to validate our Cell Pouch technologies as a viable regenerative medicine therapeutic platform for humans in insulin-dependent diabetes and other chronic diseases,” said Dr. Philip Toleikis, President and CEO of Sernova Corp. “With these encouraging results and the positive review and recommendation from the Data Safety and Monitoring Board (DSMB), we are excited to continue the clinical trial and carry on compiling safety and efficacy data from our current and future treated patients.”

ABOUT SERNOVA’S CLINICAL TRIAL

Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, Company-sponsored trial to assess the safety and tolerability of islet transplantation into the company’s patented Cell Pouch in diabetic subjects with hypoglycemia unawareness. The primary objective of the study is to assess the safety of the Cell Pouch following implantation and transplantation. The secondary objective is to assess efficacy through a series of defined measures. Patients enrolled in Sernova’s clinical trial are incapable of producing C-peptide, a biomarker for insulin produced by islet cells.

Eligible subjects are implanted with Cell Pouches. Following the development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression and a dose of purified islets, under strict release criteria, is transplanted into the Cell Pouch.

A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision will be made with regards to the transplant of a second islet dose with subsequent safety and efficacy follow up. Patients will be then further followed for one year to assess longer-term safety and efficacy.

For more information on the clinical trial, please visit www.clinicaltrials.gov/ct2/show/NCT03513939. For more information on enrollment and recruitment details please visit www.pwitkowski.org/sernova.

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch System including the Cell Pouch, which is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long- term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells which then release proteins and hormones as required to treat disease. The Cell Pouch along 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. In early assessments of its ongoing Phase I/II clinical trial, Sernova has shown in its first treated patient presence of blood levels of C-peptide both during glucose tolerance tests as well as under fasting conditions. Clinical testing is ongoing at the University of Chicago.

ABOUT SERNOVA CORP

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived 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

For further information contact: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements in this press release 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. Forward-looking statements include statements about subsequent clinical activity, including enrolment of patients and continuing results therefrom, and the potential benefits, safety, and efficacy of the Cell Pouch for various indications, including type 1 diabetes.

While Sernova considers these assumptions to be reasonable, these assumptions are inherently subject to significant scientific, business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause Sernova’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. Readers should not place undue reliance on these statements or the scientific data presented and should refer to the risk factors identified in the company’s continuous disclosure filed on SEDAR. 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 - February 10, 2020 10 February, 2020

Sernova Announces Positive DSMB Review and Recommendation for Continuation of Phase I/II Diabetes Clinical Trial of Cell Pouch


Ongoing Safety of Sernova’s Clinical Trial Confirmed

February 10, 2020 9:00 a.m. EDT

LONDON, ONTARIO – February 10, 2020 – Sernova Corp (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage company and leader in regenerative medicine therapeutics is pleased to announce that the independent Data Safety Monitoring Board (“DSMB”) completed its first interim analysis of the ongoing Safety, Tolerability and Efficacy Study of Sernova's Cell Pouch™ for Clinical Islet Transplantation Phase I/II clinical trial in patients with severe hypoglycemia unawareness.

The DSMB did not raise any concerns regarding safety and recommended the continuation of the study. “We are very pleased with the recommendation of the DSMB. In light of this positive assessment, Sernova continues the trial as we carry on compiling safety and efficacy results from our treated patients along with advancing further patient enrollment at the University of Chicago,” said Dr. Philip Toleikis, President and CEO of Sernova. “We thank the DSMB for its diligence, guidance, and support as we continue moving forward with our mission to provide people suffering from diabetes and other chronic diseases improved treatment options and a better quality of life.”

The DSMB is an independent group of clinical research experts who review the accumulated safety data throughout the clinical trial to safeguard the safety and interests of participating patients while ensuring the scientific validity and integrity of the trial. This interim analysis was the first of three planned DSMB reviews of this clinical trial.

ABOUT SERNOVA’S CLINICAL TRIAL

Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial to assess the safety and tolerability of islet transplantation into the company’s patented Cell Pouch in diabetic subjects with hypoglycemia unawareness. The secondary objective is to assess efficacy through a series of defined measures. Patients enrolled in Sernova’s clinical trial are incapable of producing c-peptide, a biomarker for insulin produced by islet cells.

Eligible subjects are implanted with Cell Pouches. Following the development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression and a dose of purified islets, under strict release criteria, transplanted into the Cell Pouch.

A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision will be made with regards to the transplant of a second islet dose with subsequent safety and efficacy follow up. Patients will be then further followed for one year to assess longer-term safety and efficacy.

For more information on this clinical trial, please visit www.clinicaltrials.gov/ct2/show/NCT03513939. For more information on enrollment and recruitment details please visit www.pwitkowski.org/sernova.

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch system including the Cell Pouch, which is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long- term survival and function of therapeutic cells. The device is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells which then release proteins and hormones as required to treat disease. The Cell Pouch along 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. In early assessments of its ongoing Phase I/II clinical trial, Sernova has shown presence of blood levels of c-peptide both during glucose tolerance tests as well as under fasting conditions. Clinical testing is ongoing at the University of Chicago.

ABOUT SERNOVA CORP

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived 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

For further information contact: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com 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 are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. 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.