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.

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
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these idea...
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...