Press Release
Communiqué de presse
–
September 10, 2019
10 September, 2019
Sernova Completes Oversubscribed Private Placement of $4,684,564
Source: Sernova Corp
September 10, 2019 9:00 a.m. EDT
LONDON, ONTARIO –September 10, 2019 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH)
announces it has completed on Monday a non-brokered private placement of $4.685 million, pursuant to which
Sernova issued a total of 23,422,822 Units in three closings (August 16, 2019, August 30, 2019 and September
9, 2019).
Net proceeds from the private placement will be used to support funding of Sernova’s clinical program
including its FDA cleared US Phase I/II regenerative medicine clinical trial, “Safety, Tolerability and Efficacy
Study of Sernova’s Cell Pouch(TM) for Clinical Islet Transplantation” and to advance internal preclinical
development programs and corporate/academic collaborations utilizing the Company’s platform technologies
to treat diabetes, hemophilia and other serious disease conditions, as well as for investor relations and general
corporate purposes.
Each Unit in the Offering is priced at $0.20 per Unit and consists of one common share and one common share
purchase warrant (“Warrant”). Each Warrant will be exercisable into one share at a price of $0.30 per share for
a period of 36 months.
The private placement has received approval of the TSX Venture Exchange. Pursuant to applicable Canadian
securities laws, the securities issued under the Private Placement are subject to a four-month hold period from
the time of closing of the Private Placement. The hold periods for this Private Placement expire on December
17, 2019, December 31, 2019, and January 10, 2020.
The Company compensated finders by way of cash fees of $78,225 and 391,125 non-transferable finder
warrants, each such finder warrant having the same terms as the Unit warrants.
About Sernova’s US Clinical Study
The approved protocol is a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial, where
diabetic subjects with hypoglycemia unawareness enroll into the study. Participants are then 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 will be 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
then be further followed for one year. The primary objective of the study is to demonstrate safety and
tolerability of islet transplantation into the Cell Pouch. The secondary objective is to assess efficacy through a
series of defined measures.
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 Corp
Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune
protected therapeutic cells to improve the treatment and quality of life of people with chronic metabolic
diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated
through replacement of proteins or hormones missing or in short supply within the body. For more information,
please visit www.sernova.com
For further information contact:
Dominic Gray
Sernova Corp
Tel: (519) 858-5126
Fax: (519) 858-5099
Toll-Free: (877)-299-4603
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 belief 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.