LONDON, Ontario and BOSTON, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Sernova Biotherapeutics, (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a leading regenerative medicine company focused on developing its Cell Pouch bio-hybrid organ as a functional cure for Type 1 diabetes (T1D), today announced the appointment of Ross Haghighat as Chair of the Board. With a proven track record in driving successful innovations, strategic growth and mergers and acquisitions in the biotechnology and life sciences sectors, Mr. Haghighat brings a wealth of financing and deal experience to Sernova's Board and leadership team.
Jonathan Rigby, President and CEO of Sernova, stated, "We are thrilled to welcome Ross Haghighat as our new Chair of the Board. His deep industry knowledge and visionary leadership make him the perfect fit to guide Sernova as we advance our pipeline of transformative therapies. His appointment underscores our commitment to fulfilling our mission of bringing solutions to patients in need.”
Mr. Haghighat has over three decades of experience in founding, funding, and scaling technology ventures in healthcare, an asset that will support Sernova's strategic direction and innovation objectives. He is known for his long-term strategic insights and the execution thereof, as evidenced in successfully driving multiple companies to achieve significant milestones and growth.
Commenting on his appointment, Mr. Haghighat remarked, "I am honored to join Sernova and support its journey toward approval of its Cell Pouch bio-hybrid organ as a functional cure for T1D. The company's pioneering work in cell therapy is truly inspiring. I look forward to working with Jonathan, the Board, and the entire team to advance Sernova's mission and deliver on our goals.”
Sernova's Board of Directors expressed unanimous support for Mr. Haghighat's appointment.
The Company is also pleased to report that it will complete the continuance of its corporate jurisdiction into British Columbia this week and the Company will become a corporation existing under the Business Corporations Act (British Columbia). The continuance of the Company's corporate jurisdiction (which was formerly under the Canada Business Corporations Act) was approved by a special resolution of shareholders at the Company's annual and special general meeting held on January 10, 2025.
In connection with the continuance and to better communicate the nature of the business, the Company has changed its name from Sernova Corp. to Sernova Biotherapeutics Inc. No changes are expected in the Company's ticker symbols.
ABOUT SERNOVA BIOTHERAPEUTICS
Sernova Biotherapeutics is a clinical-stage company developing regenerative medicine therapeutics combining its Cell Pouch with human donor cells or stem cells to create a bio-hybrid organ. A bio-hybrid organ refers to a medical device designed to be implanted into the human body, where it integrates with existing living tissue to replicate or enhance the function of a natural organ, essentially aiming to restore normal organ function by combining living cells with non-living materials to mimic the properties of the original organ and seamlessly interact with surrounding tissues. This innovative approach aims to deliver a potentially revolutionary treatment for patients with chronic diseases, initially focusing on Type 1 diabetes and thyroid disorders.
FOR FURTHER INFORMATION, PLEASE CONTACT:
David Burke VP, Investor Relations (917) 751-5713 Email: [email protected] Website: https://sernova.com/
The TSX has not reviewed this news release and does not accept responsibility for the accuracy or adequacy of this news release.
FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements in this press release include our belief that our technology could lead to a functional cure for T1D. With respect to the forward-looking statements contained in this press release, Sernova has made numerous assumptions regarding, among other things: the company's ability to secure additional financing on reasonable terms, or at all; and the ability to conduct all required preclinical and clinical studies for the company's Cell Pouch, including the timing and results of those trials. A more complete discussion of the risks and uncertainties facing Sernova appears in Sernova's Annual Information Form for the year ended October 31, 2023 filed with Canadian securities authorities and available at www.sedarplus.ca, as updated by Sernova's continuous disclosure filings, which are available at www.sedarplus.ca. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and Sernova disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.
