LONDON, ONTARIO--(Marketwired - Sept. 11, 2013) - Sernova Corp. (TSX VENTURE:SVA), is pleased to announce that it is has engaged Ray Matthews & Associates Inc. ('RM&A') to provide capital markets and advisory services, including investor relations activities.
"Ray Matthews and his team have a proven track record in providing strategic counsel for emerging growth companies," stated Dr. Philip Toleikis, President and CEO of Sernova Corp. "Ray Matthews and Associates joins Sernova at an exciting time with the Company focused on partnering and monetizing our pipeline. Our Company will benefit from RM&A's broad range of experience in strategic planning, corporate development, investor relations and operational consultation," Dr. Toleikis added.
"Sernova has a pipeline and IP portfolio which has the potential to achieve substantial shareholder value. I am excited to be able to add value and help attract additional talent and networks to help Sernova achieve its full potential," commented Ray Matthews.
Among other things, RM&A will facilitate communications between the Company and its shareholders and prospective investors and implement programs to raise awareness of the Company's business among prospective investors and the investment community. For more information on RM&A Inc., please visit www.raymatthews.ca.
Under the terms of the Company's agreement with RM&A, the Company will pay to RM&A a cash fee of $4,750 per month for six months and grant to RM&A a total of 160,000 incentive stock options, each option being exercisable, once vested, into one common share of the Company at a purchase price of $0.15 per share. The options shall vest in four equal quarterly installments, with the first 45,000 options vesting on December 5, 2013, and will be governed by the Company's option plan and the policies of the TSX Venture Exchange.
Sernova Corp is a clinical stage company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia and other diseases to replace proteins or hormones in short supply within the body. Sernova is developing the Cell Pouch™, an implantable medical device which when placed under the skin forms an environment rich in tissue matrix and microvessels, ideal for placing therapeutic cells which then release proteins and/or hormones as required. The therapeutic cells are protected from immune attack by Sernova's proprietary technology Sertolin™ which provides an immune-protected environment for the therapeutic cells.
About the Cell Pouch™
The Cell Pouch™ is a proprietary scalable medical device which has been contract manufactured (ISO13485). It is placed under the skin, and forms an ideal environment rich in microvessels and tissue matrix for the placement and function of therapeutic cells. The Cell Pouch™ is currently being evaluated in clinical trials at the University of Alberta with Dr. James Shapiro as principal investigator in patients with Type 1 diabetes receiving an islet transplant.
About Sertoli Cells
Sertoli cells when co-localized with donor therapeutic cells release protective factors that can provide a non-toxic, immune-protected environment that may reduce or eliminate the need for daily anti-rejection drugs that currently must be used by patients with transplanted tissues and organs. Sernova is currently conducting studies to optimize sertoli cells and islets within the Cell Pouch™ through a NRC-IRAP contribution agreement provided by the Government of Canada.
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. 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.