SVA:CC - Sernova Welcomes Dr. Bernd Muehlenweg as Evotec's Nominee for its Board of Directors
(TheNewswire)
Dr.Daniel Mahony to step down to pursue new commitment
LONDON, Ontario; BOSTON, Massachusetts – April 22,2024 – 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 Dr. Bernd Muehlenweg, SeniorVice President of Global Business Development at Evotec SE (FrankfurtStock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO),has been appointed to its Board of Directors. Evotec recently sharedthat due to the impending departure of Dr. Daniel Mahony, its currentSernova Board delegate, who is leaving to pursue a new professionalundertaking, they would be nominating a new Board representative. With heartfelt gratitude, we wish Dan all the very best in his futureendeavors.
Dr. Muehlenweg will join Sernova’s Board of Directorseffective immediately. Sernova expects the brief period of overlapwith Dr. Daniel Mahony will assist in the transition bringing Dr.Muehlenweg rapidly up to speed on Sernova’s operational andstrategic matters.
Bernd Muehlenweg's work experience includes varioussenior leadership positions in the biotech and pharmaceutical industrywith a concentration on business development and alliance managementroles. At Evotec, he leads the company's partnering and out-licensingefforts in their focus areas including iPSC-based Cell Therapy,Panomics-driven drug discovery, Oncology, Immunology &Inflammation, Infectious Diseases, Predictive Safety and EnablingTechnologies.
Prior to joining Evotec, he held the position of ChiefBusiness Officer and served on the Executive Board of Nanobiotix, aFrench clinical stage oncology company. Bernd co-founded PanoptesPharma GmbH, an Austrian biotech company focused on developingtherapies for eye diseases, which was later acquired by EyegatePharmaceuticals. Additionally, at Wilex AG, he played a key role inthe company's growth and expansion. He began his career as a GroupLeader at the Technical University of Munich, Germany.
Bernd Muehlenweg graduated with a Ph.D. from theoncology research group at the Department of Gynecology at theTechnical University of Munich in 2000. He further attended managementclasses at the Switzerland based St. Galler Business School in 2006.
“Sernova’s Cell Pouch and Evotec’s iPSC derivedislet like clusters are a powerful combination, offering a potentialfunctional cure for type 1 diabetes (T1D) in the not-too-distantfuture. My personal goal is to foster sustainable, fruitful anddurable partnerships to advance scientific innovations into approvedtreatments. I have tremendous confidence that the strategiccollaboration between Evotec and Sernova will provide a strongfoundation to potentially achieve this objective” said BerndMuehlenweg, Sernova’s new Board Director.
“At Sernova, we will continue to pursue opportunitiesto improve the lives of patients with unmet needs while buildinglong-term value for shareholders in multiple ways. I cannot stressenough the importance of the Cell Pouch System as the anchor for ourongoing T1D trial. In addition to its long-term payload survival,containment and retrievability characteristics, we believe that theCell Pouch is a key differentiator in delivering clinically meaningfuloutcomes, including insulin independence and normalized HbA1c countsamongst others, to several patients in our ongoing Phase 1/2 trial. Weare pleased to welcome Bernd as he joins us on our mission to build afuture where chronic conditions are no longer insurmountableobstacles.” said Cynthia Pussinen, CEO of Sernova.
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 potentialto be a ‘functional cure’ for people with T1D in an ongoing Phase1/2 clinical study at the University 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 andannual filings available on 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.