Welcome!

News Feed Item

Sernova Agrees on Terms to Gain Access to Proprietary Stem Cell Technology For the Treatment of Diabetes

Sernova's advanced technologies aim to provide individuals with insulin-dependent diabetes freedom from insulin injections, pumps and daily blood glucose monitoring

LONDON, ONTARIO -- (Marketwired) -- 07/15/14 -- Sernova Corp. (TSX VENTURE:SVA) a clinical stage company developing medical technologies for the long-term treatment of chronic metabolic diseases including diabetes, blood disorders such as haemophilia and other diseases announced today it has agreed on key terms with the University Health Network of Toronto (UHN) to gain access to worldwide, exclusive rights to certain patent-pending technologies developed by distinguished UHN researchers, Dr. Cristina Nostro and Dr. Gordon Keller, for the advancement of insulin-producing stem cells for the treatment of patients with insulin-dependent diabetes.

Sernova and UHN have entered into a Term Sheet with an exclusive negotiation period which outlines the terms of the definitive license agreement for the granting of an exclusive license to Sernova covering all patent rights relating to the UHN stem cell technologies including for the treatment of diabetes. A product development program is also being designed to advance the technologies from preclinical proof-of-concept studies through to human testing on an expedited basis.

Sernova believes the proprietary product - insulin producing stem cells, protected locally from immune system attack and placed within Sernova's prevascularized Cell Pouch(TM) - has the potential to provide a significant break-through in the quality of treatment for the millions of people suffering from insulin-dependent diabetes, following successful preclinical and clinical testing. Such individuals could essentially be liberated from their current onerous regime of daily blood glucose testing and insulin administration delivered through injections or electronic means which is expected to materially improve their quality of life while also reducing short term and longer term health care costs.

Dr. Philip Toleikis, CEO of Sernova remarked, "Upon execution of the definitive licensing agreement, Sernova will have exclusive rights to the UHN stem cell technologies. With this agreement we will have access to the full complement of technologies necessary to develop an advanced cell-based treatment for the millions of people who have insulin-dependent diabetes. Current standard of care for islet transplantation is limited to only the sickest of people with diabetes due to both a lack of cadaveric donor islet cells and a requirement for life-long use of toxic anti-rejection drugs."

Dr. Toleikis continued, "Markedly improving the standard of care for insulin dependent diabetes is an important objective for our Company and a key interest for the families who have been seeking a break-through in the quality of treatment for many years. We believe that combining the expertise and experience of Sernova's internal R&D team, UHN's stem cell team, and diabetes clinicians and researchers, such as Dr. James Shapiro and other investigators, will serve to maximize the probability of bringing this advanced treatment to commercialization."

Remarked Kevin Egan, Chair of Sernova's Business Advisory Board, "Combining Sernova's regenerative medicine technologies with those of the UHN stem cell program could produce the next generation of islet transplant therapy for insulin-dependent diabetes patients. We anticipate that Sernova's therapy should also open up new avenues for partnering discussions with pharmaceutical and biotechnology companies developing new breakthrough treatments for this debilitating disease."

Sernova's rights to the UHN stem cell technologies are subject to negotiation and execution of a definitive license agreement with UHN based on the signed term sheet.

About Diabetes

The worldwide incidence of diabetes is approximately 370 million people. Sernova's potential addressable market which includes Type-1 patients and those Type-2 patients requiring insulin is over 30 million people. Although there is no cure for diabetes, blood glucose levels are currently being controlled with frequent blood glucose testing combined with regular injections of insulin via syringe or insulin pump. However, blood glucose control using this treatment approach can be poor, leading to side effects such as heart, kidney and eye diseases as well as ischemia-induced amputations. According to the Juvenile Diabetes Research Foundation, annual health care costs for the treatment of diabetes and its debilitating side effects are estimated to be over US $245 billion per year in North America (http://jdrf.org/).

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(TM), 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 technologies.

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. Forward-looking information in this news release includes the expectation of completing a definitive license agreement with UHN and Sernova's ability to successfully combine our product with UHN technology to improve the lives of diabetes patients while lowering healthcare costs. 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.

Contacts:
Philip Toleikis, Ph.D., President and CEO
Tel: (604) 961-2939
[email protected]
[email protected]
www.sernova.com

Ray Matthews & Associates
Ray Matthews
Suite 601-128 West Cordova Street
Vancouver, BC V6B 0E6
Tel: (604) 818-7778
www.raymatthews.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Dhiraj Sehgal works in Delphix's product and solution organization. His focus has been DevOps, DataOps, private cloud and datacenters customers, technologies and products. He has wealth of experience in cloud focused and virtualized technologies ranging from compute, networking to storage. He has spoken at Cloud Expo for last 3 years now in New York and Santa Clara.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.