Sernova Corp

Sernova Corp

March 02, 2010 06:00 ET

Sernova Advances Cell Pouch System™ Into Non-Human Primate Studies


LONDON, ONTARIO--(Marketwire - March 2, 2010) - Sernova Corp. (TSX VENTURE:SVA) today announced that it has entered into a research agreement with the University of Illinois at Chicago's Transplant Biology Research Laboratory to conduct studies with its proprietary Cell Pouch System™ in non-human primates. Initial studies in the collaboration will evaluate the pouches sized for humans which were previously shown to form "organ-like" networks of microvessels and tissue incorporation in porcine models and represents a key validation step toward the initiation of future human clinical trials. "We are excited to be involved in the pre-clinical evaluation and advancement of Sernova's Cell Pouch System™," said Dr. Amelia Bartholomew, Chief of Translational Research at UIC.

"UIC is a leading research and clinical centre for organ transplantation including islet transplantation for diabetes and it can conduct GLP-quality preclinical studies to support our future regulatory filings in preparation for clinical studies," said Dr. David White, Chair of Sernova's Scientific Advisory Board.

The Cell Pouch System™ is a proprietary medical device which may offer a revolutionary improvement over the current practice of injecting therapeutic cells into blood vessels. Based on previous pre-clinical research, the Cell Pouch System™ becomes a vascularised organ-like structure when placed in the body, providing the microcirculation thought to be essential to early function and long-term survival of therapeutic cells. Sernova believes that the Cell Pouch System™ has the potential for a wide range of uses in cell therapy including the treatment of diabetes, haemophilia, spinal cord injury, Parkinson's disease and other chronic debilitating diseases.

"Establishing this first premier collaboration represents a key milestone in our strategy to work closely with leading transplant centers worldwide for the validation and commercialization of the Cell Pouch System™," said Dr. Philip Toleikis, President & CEO of Sernova Corp.

According to the American Diabetes Association approximately 9 million Americans require insulin injections and it is the sixth leading cause of death in the United States. One out of every 8 dollars spent on health care in the United States is spent on treating diabetes and its complications. Worldwide expenditures on insulin alone are estimated to be $15 billion annually and growing.

About Sernova

Sernova Corp. is a Canadian-based health sciences company focused on product development and commercialization of innovative proprietary platform medical technologies in the cell therapy arena such as the Cell Pouch System™ to provide a safe and efficacious environment for therapeutic cells and Sertolin™, a technology which, when combined with cell therapy, may protect therapeutic cells without the need for patients to take anti-rejection drugs.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirement of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including availability of funds, the results of financing efforts, the results of research and product development activities -- that could cause actual results to differ materially from Sernova's expectations are disclosed in Sernova's documents filed from time to time on SEDAR (see Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, 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.

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