Sernova Corp. completes technology acquisition

The new technology is a strategic accelerator for the firm’s patented cell therapy therapeutics platform

Photo: Sernova Corp. president and CEO, Dr. Philip Toleikis

LONDON-BASED  SERNOVA Corp., a clinical- stage regenerative medicine therapeutics company, announced this week that it has completed the acquisition of cellular local immune protection technology from Converge Biotech, Inc.

Sernova acquired all intellectual property associated with Converge’s conformal coating cell encapsulation technology, including issued patents, patent applications and know-how. The conformal coating technology consists of a thin proprietary coating layer that effectively cloaks coated therapeutic cells to protect them from an auto-response attack by one’s own immune system post cell transplantation into the body.

“This acquisition is a strategic accelerator for expansion of Sernova’s total regenerative medicine cell therapy therapeutics platform,” said Dr. Philip Toleikis, Sernova’s president and CEO. “Local immune protection technologies to cloak therapeutic cells have the potential to protect cells from immune system attack within Sernova’s Cell Pouch through different and independent mechanisms to eliminate the need for life-long immunosuppression medications.”

Sernova is developing regenerative medicine therapeutic technologies using a medical device (Sernova’s patented Cell Pouch System) and immune protected therapeutic cells (human donor cells, corrected human cells and stem-cell derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin- dependent diabetes and blood disorders through replacement of proteins or hormones missing or in short supply within the body.

Sernova also announced the completion of $1-million unsecured convertible debenture financing, with the proceeds used to fund the acquisition. The company also issued 3,000,000 non-transferable share purchase warrants.