SVA Sernova Corp

Sernova Corp. (TSX VENTURE:SVA) a clinical stage company developing medical
technologies for the long-term treatment of chronic metabolic diseases including
diabetes, blood disorders such as haemophilia and other diseases announced today
it has agreed on key terms with the University Health Network of Toronto (UHN)
to gain access to worldwide, exclusive rights to certain patent-pending
technologies developed by distinguished UHN researchers, Dr. Cristina Nostro and
Dr. Gordon Keller, for the advancement of insulin-producing stem cells for the
treatment of patients with insulin-dependent diabetes.


Sernova and UHN have entered into a Term Sheet with an exclusive negotiation
period which outlines the terms of the definitive license agreement for the
granting of an exclusive license to Sernova covering all patent rights relating
to the UHN stem cell technologies including for the treatment of diabetes. A
product development program is also being designed to advance the technologies
from preclinical proof-of-concept studies through to human testing on an
expedited basis. 


Sernova believes the proprietary product - insulin producing stem cells,
protected locally from immune system attack and placed within Sernova's
prevascularized Cell Pouch(TM) - has the potential to provide a significant
break-through in the quality of treatment for the millions of people suffering
from insulin-dependent diabetes, following successful preclinical and clinical
testing. Such individuals could essentially be liberated from their current
onerous regime of daily blood glucose testing and insulin administration
delivered through injections or electronic means which is expected to materially
improve their quality of life while also reducing short term and longer term
health care costs.


Dr. Philip Toleikis, CEO of Sernova remarked, "Upon execution of the definitive
licensing agreement, Sernova will have exclusive rights to the UHN stem cell
technologies. With this agreement we will have access to the full complement of
technologies necessary to develop an advanced cell-based treatment for the
millions of people who have insulin-dependent diabetes. Current standard of care
for islet transplantation is limited to only the sickest of people with diabetes
due to both a lack of cadaveric donor islet cells and a requirement for
life-long use of toxic anti-rejection drugs." 


Dr. Toleikis continued, "Markedly improving the standard of care for insulin
dependent diabetes is an important objective for our Company and a key interest
for the families who have been seeking a break-through in the quality of
treatment for many years. We believe that combining the expertise and experience
of Sernova's internal R&D team, UHN's stem cell team, and diabetes clinicians
and researchers, such as Dr. James Shapiro and other investigators, will serve
to maximize the probability of bringing this advanced treatment to
commercialization."


Remarked Kevin Egan, Chair of Sernova's Business Advisory Board, "Combining
Sernova's regenerative medicine technologies with those of the UHN stem cell
program could produce the next generation of islet transplant therapy for
insulin-dependent diabetes patients. We anticipate that Sernova's therapy should
also open up new avenues for partnering discussions with pharmaceutical and
biotechnology companies developing new breakthrough treatments for this
debilitating disease." 


Sernova's rights to the UHN stem cell technologies are subject to negotiation
and execution of a definitive license agreement with UHN based on the signed
term sheet.


About Diabetes 

The worldwide incidence of diabetes is approximately 370 million people.
Sernova's potential addressable market which includes Type-1 patients and those
Type-2 patients requiring insulin is over 30 million people. Although there is
no cure for diabetes, blood glucose levels are currently being controlled with
frequent blood glucose testing combined with regular injections of insulin via
syringe or insulin pump. However, blood glucose control using this treatment
approach can be poor, leading to side effects such as heart, kidney and eye
diseases as well as ischemia-induced amputations. According to the Juvenile
Diabetes Research Foundation, annual health care costs for the treatment of
diabetes and its debilitating side effects are estimated to be over US $245
billion per year in North America (http://jdrf.org/).


About Sernova 

Sernova Corp is a clinical stage regenerative medicine company developing
medical technologies for the treatment of chronic debilitating metabolic
diseases such as diabetes, blood disorders including haemophilia and other
diseases treated through replacement of proteins or hormones missing or in short
supply within the body. Sernova is developing the Cell Pouch(TM), an implantable
medical device for therapeutic cells (donor, xenogeneic or stem cells) which
then release proteins and/or hormones as required. The therapeutic cells are
protected from immune attack by Sernova's proprietary technologies. 


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.
Forward-looking information in this news release includes the expectation of
completing a definitive license agreement with UHN and Sernova's ability to
successfully combine our product with UHN technology to improve the lives of
diabetes patients while lowering healthcare costs. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Philip Toleikis, Ph.D., President and CEO
Tel: (604) 961-2939
philip.toleikis@sernova.com
info@sernova.com
www.sernova.com


Ray Matthews & Associates
Ray Matthews
Suite 601-128 West Cordova Street
Vancouver, BC V6B 0E6
Tel: (604) 818-7778
www.raymatthews.ca

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