LONDON, ONTARIO--(Marketwired - Nov. 27, 2013) - Sernova Corp (TSX VENTURE:SVA) today is pleased to announce it has engaged Carson Seabolt and Network IR ("Network") to develop and execute a comprehensive investor communications program to raise awareness of the Company within North American and International investment communities.
"Carson Seabolt and his team at Network IR are well-respected and will assist in the capital and institutional markets as we approach important Company milestones including anticipated clinical trial results in 2014," said Dr. Philip Toleikis, Sernova Corp Chief Executive Officer.
"Our team is very excited to begin working with Sernova and its Management. It is a very rare opportunity to find a clinical-stage company that is working towards building such a worthwhile and potentially game-changing portfolio of products. I feel strongly that Dr. Toleikis and the entire Sernova team have the ability to deliver to the market, future patients and society a better way of treating what were once considered lifelong illnesses," said Andrew Mugridge of Network IR.
"There is a lot to like about Sernova at this exciting juncture, and CEO Philip Toleikis is committed to ensure Sernova's story is told to an ever-discerning retail audience. Attracting Carson Seabolt and NIR is a testament to Dr. Toleikis's intuitive understanding that capital markets require an engaging, supportive retail ecosystem in the fruition of great projects. I credit Philip's commitment to his stakeholders as we march into a promising 2014,"said Ray Matthews, Strategic Advisor.
Under the terms of the Company's agreement with Network IR, the Company will pay to Network a cash fee of $6,000 per month for six months and grant to Network a total of 300,000 incentive stock options, each option being exercisable, once vested, into one common share of the Company at a purchase price of $0.15 per share. The options shall vest in four equal quarterly installments, and will be governed by the Company's option plan and the policies of the TSX Venture Exchange.
Sernova Corp is a clinical stage company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia and other diseases to replace proteins or hormones in short supply within the body. Sernova is developing the Cell Pouch(TM), an implantable medical device which when placed under the skin forms an environment rich in tissue matrix and microvessels, ideal for placing therapeutic cells which then release proteins and/or hormones as required. The therapeutic cells are protected from immune attack by Sernova's proprietary technology Sertolin(TM) which provides an immune-protected environment for the therapeutic cells.
About the Cell Pouch(TM)
The Cell Pouch(TM) is a proprietary scalable medical device which has been contract manufactured (ISO13485) to meet international regulatory standards. It is placed under the skin, and forms an ideal environment rich in microvessels and tissue matrix for the placement and function of therapeutic cells. The Cell Pouch(TM) is currently being evaluated in clinical trials at the University of Alberta with Dr. James Shapiro as principal investigator in patients with Type 1 diabetes receiving an islet transplant.
About Sertoli Cells
Sertoli cells when co-localized with donor therapeutic cells release protective factors that can provide a non-toxic, immune-protected environment that may reduce or eliminate the need for daily anti-rejection drugs that currently must be used by patients with transplanted tissues and organs. Sernova is currently conducting preclinical studies to optimize sertoli cells and islets within the Cell Pouch(TM) through a NRC-IRAP contribution agreement provided by the Government of Canada.
About Clinical Islet Transplantation Program
Please view www.islet.ca for more information on the Clinical Islet Transplantation Program at the University of Alberta.
About Network IR
Network IR is one of Canada's premier full service investor relations companies. Network IR provides its client companies with exposure, presence and access to the heart of the public markets. To date, the Network team have assisted in raising over $100 Million in equity finance and have helped numerous client companies reach their development goals and significant market capitalization. For more information on Network IR, visit their corporate website at http://www.networkir.com/.
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. 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Philip Toleikis, Ph.D.
President and CEO
Ray Matthews & Associates Inc.
Suite 601-128 West Cordova Street
Vancouver, BC V6B 0E6
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here