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Sernova Corp.: Appointment of Dr. Annemarie Moseley to the Sernova Business Advisory Board

^{Published on 2009-08-06 05:39:55, Last Modified on 2009-08-06 05:40:04 - Market Wire}
 

LONDON, ONTARIO--(Marketwire - Aug. 6, 2009) - Sernova Corp. (TSX VENTURE:SVA) -

Dr. George Adams, Chairman of the Board of Directors and Dr. Philip Toleikis, President and CEO of Sernova Corp. are pleased to announce the appointment of Dr. Annemarie Moseley to the Corporation's Business Advisory Board.

In reference to the appointment, Dr. Adams said "I am pleased to welcome Dr. Moseley to the Sernova team. She brings a wealth of technical and business experience in the cell therapy arena that will be of significant benefit to our company."

Dr. Toleikis said "Dr. Moseley's depth of experience in cell-based product development, clinical and regulatory affairs as well as financing and partnering will be a great asset from a strategic perspective. We anticipate that she will play a key supportive role as we advance our cell therapy programs toward commercialization and consider partnering opportunities. On behalf of the Corporation's shareholders and the other Board members, I am pleased to welcome her to Sernova's Business Advisory Board."

Dr. Moseley earned a Ph.D. in Physiology and Biochemistry from Utah State University, and an M.D. from Baylor College of Medicine. Her corporate career began as Vice President, Clinical Research for Applied Immune Sciences from 1992 to 1995, overseeing clinical development of stem cell therapies for HIV, bone marrow transplantation and gene therapy. Subsequently, in her role as Director of Clinical Gene Therapy at SyStemix/Novartis, Dr. Moseley managed a stem cell-based HIV gene therapy program. In 1997, Dr. Moseley joined Osiris Therapeutics as Senior Vice President of Clinical and Regulatory affairs, leading development activities for mesenchymal stem cell-based products in oncology, orthopaedics, cardiovascular and lysosomal storage disorders. Later as President, CEO and a Director of Osiris Therapeutics, Inc., she participated in extensive fundraising and partnering activities. In 2002 Dr. Moseley founded Cognate Therapeutics, Inc. with Toucan Capital and as President and CEO led the development of a cellular therapy for glioblastoma. She has acted as a strategic consultant on cellular therapies to a number of medical device companies and as commercialization advisor to the Canadian Stem Cell Network. Dr. Moseley is currently Chairman and CEO of REPAIR Technologies, Inc., a startup biotech company focused on enhancing repair and regeneration of injured tissue.

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^TM and its patented Sertolin^TM 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.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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