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Press release Communiqué de presse

June 30, 2021 30 June, 2021

Industry Veteran Frank Shannon Joins Sernova as VP Clinical Development and Regulatory Affairs

25-Year Industry Veteran in Clinical/Regulatory Therapeutics Development Joins Sernova’s Executive Team

June 30, 2021 6:00 AM EDT

LONDON, ONTARIO – June 30, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, today announced that pharmaceutical industry executive, Frank Shannon has joined Sernova as Vice President, Clinical Development and Regulatory Affairs.

"In his distinguished career focused on North American and International clinical development and regulatory affairs of therapeutic products, Mr. Shannon has developed extensive knowledge and experience in a number of therapeutic areas,” said Dr. Philip Toleikis, President & CEO Sernova Corp. “Importantly, he has worked in both smaller emerging biopharma companies as well as with international pharmaceutical conglomerates and his experience in the execution of combination product clinical development will be invaluable for Sernova’s novel cell therapy development programs."

Dr. Toleikis continued, "With Sernova’s clinical success to date in type 1 diabetes (T1D), we look forward to leveraging Mr. Shannon’s strategic expertise to further progress our ongoing T1D program, including our current US Phase I/II Cell Pouch™ clinical trial, and our local immune protection and stem cell technology initiatives as well as driving clinical development of our other therapeutic programs in thyroid disease and hemophilia A.”

Mr. Shannon has a track record of more than 25 years of proven experience in clinical development and regulatory affairs. He has served in senior level positions within the international medical device, pharmaceutical, and biologic industries where he achieved commercial goals through innovative risk management and execution strategies, to obtain marketing approval of products.

Mr. Shannon most recently served as VP Clinical Development, Regulatory Affairs and Quality at Ripple Therapeutics, a spin-out of Interface Biologics where he served in the same capacity since 2006. Prior to these appointments, he held various senior clinical/regulatory positions at Baxter International, St. Jude Medical, Boehringer-Ingelheim, Hoffmann-La Roche/Roche Laboratories, Inc., Genentech Canada, Inc., and Ciba-Geigy Canada, Ltd.

"I am thrilled to be joining Sernova at such an exciting time in its development,” said Frank Shannon. “I look forward to bringing the learnings from all of my experiences to positively impact Sernova’s expanding clinical programs as the company advances its novel leading regenerative medicine therapeutic programs."

ABOUT SERNOVA Sernova is developing regenerative medicine therapeutic technologies using its Cell Pouch medical device, therapeutic cells (i.e., human donor cells, corrected human cells, stem cell-derived cells and tissues) and immune protection technologies to improve the treatment and quality of life of people living 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: Investor Relations Sernova Corp. Tel: (519) 858-5126 investorrelations@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, including results of clinical trials, 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. 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.