SVA:CC - Jonathan Rigby Appointed as Executive Chairman for Sernova
(TheNewswire)
LONDON, Ontario; BOSTON, Massachusetts – TheNewswire - July 15, 2024– SernovaCorp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stagebiotechnology company focused on the development of regenerativemedicine cell therapies for treatment of chronic diseases such as Type 1 Diabetes, today announced that the Board of Directors hasappointed Jonathan Rigby, who previously joined as a Director in May,as Executive Chairman effective immediately. Brett Whalen, who waspreviously Chairman, has resigned from the Board. These changescontinue carefully curated management and Board transitions aimed atpositioning Sernova to enter the next phase of the Company’s growthand evolution.
As Executive Chairman Mr. Rigby will focus onpartnering with company leadership on capital markets efforts forSernova as well as leadership of the Board. Cynthia Pussinen, theCompany’s Chief Executive Officer, will continue in her role asoriginally defined managing Sernova’s day to day business strategyand operations; she will continue to report to the Board.
“We welcome Jonathan to his expanded role asExecutive Chairman to increase our focus on capital markets where hehas a demonstrated track record of success through multiple capitalraises, Nasdaq listings and successful exits of several biotechcompanies,” said James Parsons, Director of Sernova. “The Boardfully supports the leadership team and Jonathan will further augmentour overall Company strength. We are grateful to Brett for hisChairmanship.”
“I am delighted to serve the Company and itsshareholders as Executive Chairman with passion and enthusiasm. As asufferer myself, I will do all I can to help the Company give livesback to patients suffering from diseases such as Type 1 Diabetes”said Jonathan Rigby, Executive Chairman. “I have financed andgrown multiple companies through to exits and my goal is quite clear,I will work tirelessly with the team to do the same for Sernova andits shareholders.
Mr. Rigby has held several CEO roles and currentlyserves on the Board of Directors of cancer therapy company OncolyticsBiotech Inc. (NASDAQ: ONCY) and IM Therapeutics and was formerly onthe board of Xeris Pharmaceuticals (NASDAQ: XERS). Mr. Rigby holds adegree in Biological Sciences from the University of Sheffield, UK,and has a Master of Business Administration degree from the Universityof Portsmouth, UK.
Sernova Corp continues to collaborate closely withleading academic, pharmaceutical and clinical institutions to expandthe scope and impact of its technology. The company anticipatesfurther advancements as it progresses through additional cohorts andtrials, with the ultimate goal of offering a scalable solution forinsulin-dependent diabetes plus other chronic diseases.
ABOUT SERNOVA AND ITS CELL POUCHSYSTEM PLATFORM FOR CELL THERAPY
Sernova Corp. is a clinical-stage biotechnology companythat is developing therapeutic cell technologies for chronic diseases,including insulin-dependent diabetes, thyroid disease, and blooddisorders that include hemophilia A. Sernova is currently focused ondeveloping a ‘functional cure’ for insulin-dependent diabetes withits lead technology, the Cell Pouch System, a novel implantable andscalable medical device with immune protected therapeutic cells.
On implantation, The Cell Pouch forms a natural,vascularized tissue environment in the body allowing long-termsurvival and function of therapeutic cells that release essentialfactors that are absent or deficient in the bodies of patients withcertain chronic diseases. Sernova’s Cell Pouch System hasdemonstrated its potential to be a ‘functional cure’ for peoplewith T1D in an ongoing Phase 1/2 clinical study at the University ofChicago.
Sernova partnered with Evotec to develop an implantableoff-the-shelf iPSC (induced pluripotent stem cells) based isletreplacement therapy. This partnership provides Sernova a potentiallyunlimited supply of insulin-producing cells to treat millions ofpatients with insulin-dependent diabetes (type 1 and type 2).Sernova’s development pipeline that uses its Cell Pouch System alsoincludes: a cell therapy for hypothyroid disease resulting fromthyroid gland removal and an ex vivo lentiviral Factor VIII genetherapy for hemophilia A.
FOR FURTHER INFORMATION, PLEASECONTACT:
Christopher Barnes
VP, Investor Relations
Sernova Corp.
Tel: +1 519-902-7923
Email: christopher.barnes@sernova.com
Website: www.sernova.com
FORWARD-LOOKING INFORMATION
This release contains statements that, to the extentthey 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 thecompany. Wherever possible, but not always, words such as"expects", "plans", "anticipates","believes", "intends", "estimates","projects", "potential for" and similarexpressions, or that events or conditions "will","would", "may", "could" or"should" occur are used to identify forward-lookingstatements. These statements reflect management’s beliefs withrespect to future events and are based on information currentlyavailable to management on the date such statements were made. Manyfactors could cause Sernova’s actual results, performances orachievements to not be as anticipated, estimated or intended or todiffer materially from those expressed or implied by theforward-looking statements contained in this news release. Suchfactors could include, but are not limited to, the company’s abilityto secure additional financing and licensing arrangements onreasonable terms, or at all; ability to conduct all requiredpreclinical and clinical studies for the company’s Cell Pouch Systemand or related technologies, including the timing and results of thosetrials; ability to obtain all necessary regulatory approvals, or on atimely basis; ability to in-license additional complementarytechnologies; ability to execute its business strategy andsuccessfully compete in the market; and the inherent risks associatedwith 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. Investorsshould consult the company’s quarterly and annual filings availableon www.sedarplus.ca for additionalinformation on risks and uncertainties relating to the forward-lookingstatements. Sernova expressly disclaims any intention or obligation to update or revise any forward-lookingstatements, whether as a result of new information, future events orotherwise.
Copyright (c) 2024 TheNewswire - All rights reserved.