Dr. Toleikis further stated, "Along with our current programs, we are seeking to develop additional clinical applications for the Cell Pouch(TM), and our new business development team is in discussions with other potential corporate and academic partners to further expand the depth of our technologies. These advances should continue to build shareholder value and benefit patients with chronic diseases."
Selected 2013 and 2014 Corporate Developments
Following are highlights of significant developments at
-- Released positive interim results from our human clinical trial of the Cell Pouch(TM) with insulin producing islets for the treatment of Type I diabetes, demonstrating biocompatibility and safety for up to 6 months, as well as proof of 30 day islet survival within the Cell Pouch(TM) following islet transplant. The clinical trial is ongoing. -- Established an agreement with
Medicyte GmbHand initiated preclinical studies to jointly evaluate the use of Medicyte's upcyte(R) cells in Sernova'sCell Pouch(TM) to treat patients with haemophilia A. -- Received the first patent allowance for Methods and Devices for Cellular Transplantation from the Australian Patent Office. -- Continued evaluation of our Sertolin(TM) local immune protection technology within the Cell Pouch(TM) for treatment of chronic diseases following receipt of a contribution agreement for up to $254,300from the National Research Council of Canadafor continued research and development. -- Closed non-brokered private placement of $2 million, comprising 10 million units at a price of $0.20. Each unit consisted of 1 common share and 1 common share purchase warrant exercisable at $0.35for the first 24 months and $0.40for the subsequent 12 months. -- Appointed biopharma entrepreneur and investor Frank Hollerto the Board of Directors. -- Established a world class business development team of Kevin Eganand Nick Borrellyto establish corporate partners for Sernova'sprograms and to expand Sernova'sproprietary technologies through academic and corporate partnerships. -- Appointed Mr. David Garland CPA CA, CPA CMA, MAcc, BA(Hon) as interim CFO to replace Ms. Cathy Steiner, who has moved on to pursue other business interests. Mr. Garlandhas extensive public company experience and has been CFO of Highcourt Partners, LTD, Mash Media Solutions, Inc., and Wi-LAN V-chip Corpand has worked as VP Finance and/or Controller at Pathways to Education, Certicom Corp, and Delano Technology Corporation.
2014 AGM Appointments
George Adams(Chair), Frank Holler, Jeffrey Bacha, James Parsons, Bruce Weberand Dr. Philip Toleikis, were elected as the directors of the Company to hold office until the next annual general meeting of shareholders. -- Davidson & Company, Chartered Accountants, was appointed auditor of the Company until the close of the next annual general meeting of shareholders, at a remuneration to be fixed by the Directors.
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
FOR FURTHER INFORMATION PLEASE CONTACT:
Sernova Corp. Philip Toleikis, Ph. D. Presidentand CEO (604) 961-2939 firstname.lastname@example.org@sernova.com Ray Matthews & Associates Ray Matthews(604) 818-7778 www.raymatthews.cawww.sernova.com Source: Sernova Corp