Frank Holler Joins Sernova's Board of Directors
February 11 2014 - 5:00AM
Marketwired
Frank Holler Joins Sernova's Board of Directors
Experienced Biotech Entrepreneur and Investor to Bring Strategic
Growth Expertise to Sernova
LONDON, ONTARIO--(Marketwired - Feb 11, 2014) - Sernova Corp.
(TSX-VENTURE:SVA), a clinical stage company developing medical
technologies for the long-term treatment of chronic debilitating
metabolic diseases including diabetes, blood disorders such as
haemophilia and other diseases, today announced the appointment of
Mr. Frank Holler to its Board of Directors. A Vancouver-based
entrepreneur and investor, Holler brings 25 years of success-driven
experience in the biopharma and technology sectors to Sernova's
board. He has been directly involved in the founding and
development of some of Canada's most successful biopharma companies
including ID Biomedical, Angiotech Pharmaceuticals and Xenon
Pharmaceuticals.
"Frank possesses the ideal combination of coveted bio-science
experience and strategic relationships with institutions and pharma
to guide Sernova's strategic advancement," stated Dr. George Adams,
Sernova's Board Chair.
"I am pleased to be joining the board of Sernova," said Mr.
Holler. "Sernova's CEO, Dr. Philip Toleikis is a former Angiotech
colleague and I am looking forward to working with him and the
Sernova team as we advance Sernova's therapeutic cell-based product
development programs and drive value for shareholders."
Mr. Holler previously served as President & CEO of Xenon
Pharmaceuticals, Inc., a genetics-based drug development company
focused on the treatment of rare inherited medical conditions,
President & CEO of ID Biomedical Corporation, a vaccine
development company sold to GlaxoSmithKline in 2005, and was a
founding director of Angiotech Pharmaceuticals, a TSX/NASDAQ-listed
biotechnology company. He was also an investment banker with
Merrill Lynch Canada and Wood Gundy, Inc. (now CIBC World Markets)
and former director of the British Columbia Biotechnology
Association (now LifeSciences BC), and in 2003 received the BC
Biotech Award for Vision and Leadership.
"Frank's extensive industry experience, capital markets
expertise and strategic insights will be very helpful as Sernova
continues to advance its programs," said Dr. Philip Toleikis,
President and CEO of Sernova. "In particular, I believe his
background in corporate finance, strategic partnering and M&A
will be a good fit for Sernova as we continue to build out the
Company's leading position in regenerative medicine."
Sernova also announces that it has granted an aggregate of
150,000 incentive stock options on February 11, 2014 to certain
directors of the Company to purchase common shares in the capital
stock of the Company subject to approval of the TSX Venture
Exchange. Each option entitles the holder to purchase one common
share of the Company at an exercise price of $0.15, for a period of
5 years, in accordance with the provisions of the Sernova Stock
Option Plan.
About
Sernova
Sernova Corp is a clinical stage regenerative medicine company
developing medical technologies for the treatment of chronic
debilitating metabolic diseases such as diabetes, blood disorders
including haemophilia and other diseases treated through
replacement of proteins or hormones missing or in short supply
within the body. Sernova is developing the Cell Pouch™, an
implantable medical device for therapeutic cells (donor, xenogeneic
or stem cells) which then release proteins and/or hormones as
required. The therapeutic cells are protected from immune attack by
Sernova's proprietary technology, Sertolin™.
About the Cell
Pouch™
The Cell Pouch™ is a proprietary scalable biocompatible medical
device, contract manufactured (ISO13485) to meet international
regulatory standards. It is inserted 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™ 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
Sertolin™
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™ 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.
Forward-Looking Information
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.
Sernova CorpPhilip Toleikis, Ph.D.President and CEO(604)
961-2939philip.toleikis@sernova.cominfo@sernova.comSernova
CorpCathy Steiner, CPA CA MSc MBACFO(416)
566-7870cathy.steiner@sernova.comwww.sernova.comRay Matthews &
AssociatesSuite 601-128 West Cordova Street,Vancouver, BC V6B
0E6(604) 818-7778www.raymatthews.ca
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