Sernova Shares Jump With AstraZeneca Collaboration
May 03 2023 - 10:31AM
Dow Jones News
By Robb M. Stewart
Sernova's shares rallied Wednesday after the biotechnology
company entered a preclinical research collaboration with
AstraZeneca to evaluate the use of its Cell Pouch System in
combination with AstraZeneca's novel therapeutic cells.
In morning trading, the shares were 18% higher at C$1.07,
widening the year-to-date advance to 35%.
Sernova said AstraZeneca is exploring the use of the Cell Pouch
System as a potential platform for integration with its development
of the next wave of cell therapies for various indications. Under
the terms of the collaboration, AstraZeneca will lead and
completely fund the development of the cell technologies and
preclinical activities in conjunction with Sernova. The discovery
work is being funded and conducted at AstraZeneca, Sernova
said.
Preclinical research outcomes will determine the feasibility of
potential therapeutic applications and subsequent product
development activities between the two companies, said Sernova,
which has developed a cell therapy approach for the potential
treatment of insulin-dependent diabetes, hypothyroidism and
hemophilia A.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
May 03, 2023 11:16 ET (15:16 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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