Sernova Corp

Sernova Corp

November 10, 2009 06:00 ET

Appointment of Hans Mader to the Sernova Business Advisory Board

LONDON, ONTARIO--(Marketwire - Nov. 10, 2009) - Sernova Corp. ("Sernova" or the "Company" or the "Corporation") (TSX VENTURE:SVA).

Dr. George Adams, Chairman of the Board of Directors is pleased to announce the appointment of Mr. Hans Mader to the Corporation's Business Advisory Board.

Dr. Adams stated, "The appointment of Mr. Mader represents continued success in our efforts to attract world-class talent to Sernova's advisory Board. His involvement will bring international recognition to Sernova's product development platform and support the evolution of the company's cell-therapy products into clinical development."

"I am pleased to welcome Mr. Mader to Sernova." said Dr. Philip Toleikis, President and CEO of Sernova. "His 31 years in the biopharmaceutical field brings a wealth of experience in operations, manufacturing, marketing, sales, fundraising and M&A which will be beneficial as we continue to implement Sernova's product and business development strategy."

During his distinguished career, Mr. Mader has held senior positions with major pharmaceutical companies including President and CEO of Sandoz/Novartis Pharmaceuticals, Inc. Canada and Head of Global Marketing Services, Novartis Pharmaceuticals, Inc. where he was responsible for implementing global marketing services and creation of global brand strategy for Novartis' multi-billion dollar product portfolio. Mr. Mader was instrumental in establishing the Cal Stiller-Novartis Research Chair in xenotransplantation at the University of Western Ontario during his tenure at Novartis. More recently, Mr. Mader served as President and CEO of Procyon Biopharma, Inc. where he successfully raised over $92M from major venture capital and investment funds, conducted the company's TSX listing and consummated several partnership and licensing transactions, and as President and CEO of Ambrilia Biopharma, Inc. where he made multiple acquisitions and completed a $230 million licensing agreement with Merck and Co.

About Sernova

Sernova Corp. is a Canadian-based, health-sciences company focused on commercializing medical technologies. Sernova is currently developing a platform technology for a number of serious disease indications, starting with a novel treatment for insulin-dependent diabetes, using the novel Cell Pouch System™ and its patented Sertolin™ cell technology. 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.

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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.

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