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London, ON-TheNewswire -
Protect your investment in
Sernova by voting FOR all of Sernova Management’s director nominees.ISS and Glass Lewis, independent third-party proxy advisory firms, both recommend that shareholders vote FOR Sernova’s eight management nominees and not to vote for the dissident nominees.
The deadline to submit WHITE management proxies is
Tuesday April 25, 2023 at10:00 a.m. (Pacific time) Shareholders who have questions or need assistance with voting their shares voting should contact Sernova Corp.’s strategic advisor and proxy solicitation agent
Laurel Hill Advisory Group by telephone at 1-877-452-7184 or by email atassistance@laurelhill.com
Shareholders are encouraged to read Sernova’s management information circular, the letter to shareholders the Corporation recently mailed to all shareholders and press releases by visiting
Sernova’s Board Nominees – The Right Team with the Right Experience
Sernova’s nominees,
Significant expertise and experience in leading biotech companies. Sernova’s nominees all have significant breadth and depth of expertise and experience in directing public biotech, pharmaceutical, and healthcare sector companies in
Canada and elsewhere.Director Qualifications. Sernova’s nominees each have deep biotechnology industry experience encompassing relevant capabilities in finance, product and corporate development. The board has been developed and refreshed over time against a specific skills matrix with currently 50% of the board having served for less than 4 years.
Strong Financial and Cash Position.
Sernova ended Q1 2023 with a strong balance sheet including cash resources of$45.6 million . Since theApril 2022 annual meeting of shareholders, proceeds of$8 million were raised from the full exercise of the remaining outstanding 2019 and 2020 private placement common share purchase warrants. Additionally, the Company completed a private placement with strategic partner Evotec resulting in a total equity investment of$27 million .
In addition, withinthe last year, Sernova’s Board and management team have made significant progress with a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System (“CPS”),a novel implantable medical device with immune protected therapeutic cells. With a strong management and Board of Directors in the last 12 months the Company has:
In May, 2022 - Entered into a global strategic partnership with Evotec SE (“Evotec”) to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides
Sernova a potentially unlimited supply of insulin-producing islet clusters to treat millions of patients with insulin-dependent diabetes (both type 1 and type 2).In June, 2022 - Transitioned the Company from the
TSX Venture Exchange to the TSX as part of the Company’s capital markets strategy to access a broader base of investors and position the Company more favourably for institutional investment.In
January 2023 - The Company announced the confirmation of its hypothyroid program proof-of concept, demonstrating that thyroid auto-transplantation in the Cell Pouch can compensate for removal of the thyroid gland and restore normal thyroid hormone production – potentially a lifechanging treatment for patients who have gone through the thyroid gland removal procedure.
Vote FOR your Management Nominees using ONLY Management’s WHITE Proxy
Voting is easy. We encourage you to vote online or by telephone using the information on your WHITE proxy. Shareholders who have voted using the dissident’s GOLD proxy and wish to support Sernova’s management nominees still have the right to change their vote by simply voting FOR Sernova’s management nominees using the WHITE proxy. A later dated WHITE proxy will replace a previously submitted vote.
YOUR VOTE HAS NEVER BEEN MORE IMPORTANT. VOTE YOUR SHARESFORSERNOVA’S MANAGEMENT NOMINEES AS SOON AS POSSIBLE, REGARDLESS OF THE NUMBER OF SHARES YOU OWN
Shareholders are encouraged to vote your shares as soon as possible. The deadline for voting your shares is at
Sernova’s board of directors recommends that shareholders vote FOR all of the management director nominees and meeting resolutions using only the WHITE proxy.
Shareholder Questions
Shareholders who have any questions or require assistance with voting may contact Sernova’s proxy solicitation agent and shareholder communications advisor:
Toll Free: 1-877-452-7184 (for shareholders in
International: +1 416-304-0211 (for shareholders outside
By Email: assistance@laurelhill.com
ABOUT
FOR FURTHER INFORMATION, PLEASE CONTACT:
Corporate | Investors | Media |
VP, Investor Relations christopher.barnes@sernova.com Tel: 519-902-7923 www.sernova.com | cdavis@lifesciadvisors.com Tel: 212-915-2577 | emiller@lifescicomms.com Tel: 646-791-9705 |
FORWARD-LOOKING INFORMATION
This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements.
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