SVA:CC - Sernova Appoints Jonathan Rigby to its Board of Directors
(TheNewswire)
LONDON, Ontario; BOSTON, Massachusetts – May 28, 2024– TheNewswire – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF)(FSE/XETRA:PSH), a clinical-stage biotechnology company focused on thedevelopment of regenerative medicine cell therapies for treatment ofchronic diseases, announces today that Jonathan Rigbywill join Sernova’s Board of Directors effective immediately.
“We are excited to welcome Jonathan to Sernova’sBoard of Directors. With more than 30 years of diverse experienceacross the biopharmaceutical landscape, Jonathan brings a track recordof substantial contributions across our sector as a biotech CEO andBoard member. He will both complement and augment the expertise andcomposition of our current Board,” saidCynthia Pussinen, Chief Executive Officer of Sernova . “We welcome Jonathan’s passion for improving thelives of patients and his guidance onaccelerating delivery of our development programs.”
Mr. Rigby has a breadth of industry knowledge andproductive experience having served as President and CEO of RevoloBiotherapeutics where he took the company through multiple financingsand two Phase 2 clinical trials, as well as serving as Chairman andChief Business Officer of BIOS Acquisition Corporation (NASDAQ: BIOS),with an oversold IPO. Mr. Rigby served as the CEO for SteadyMedTherapeutics (NASDAQ: STDY), which he listed on Nasdaq prior to itsacquisition by United Therapeutics (NASDAQ: UTHR), and was co-founderof Zogenix (NASDAQ:ZGNX), which was also acquired by UCB (Euronext:UCB) after completing a NASDAQ listing.
In addition, Mr. Rigby currently serves on the Board ofDirectors of cancer therapy company Oncolytics Biotech Inc. (NASDAQ:ONCY) and IM Therapeutics which is developing therapies for Type 1diabetes (T1D). He is a past Board Member of Thermalin Inc., whichengineered new forms of insulin to improve patient lives and outcomesfor the treatment of T1D and was formerly on the board of XerisPharmaceuticals (NASDAQ: XERS) which developed and commercialised atherapy to treat T1D severe hypoglycemia. Mr. Rigby holds a degreein Biological Sciences from the University of Sheffield, UK, and has aMaster of Business Administration degree from the University ofPortsmouth, UK.
“As an individual with T1D, I am acutely aware of thechallenges of living with this life changing condition and the need toeffectively cure the disease. Given Sernova’s vision of a futurewhere chronic conditions are no longer insurmountable obstacles, andtheir foundational work on delivering a ‘functional cure’ for T1D,I am especially excited to join the Board and work hard to progressthe company forward. Sernova represents a new era of development forcell therapy treatments and I look forward to working with the Boardand the leadership team in advancing Sernova’s groundbreakingtechnology and therapies,” said Mr. Rigby.
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 naturalvascularized tissue environment in the body for long-term survival andfunction of therapeutic cells that release essential factors that areabsent or deficient in the bodies of patients with certain chronicdiseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ forpeople with T1D in an ongoing Phase 1/2 clinical study at theUniversity of Chicago.
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 toupdate or revise any forward-looking statements, whether as a resultof new information, future events or otherwise.
Copyright (c) 2024 TheNewswire - All rights reserved.