The World Economic Forum (WEF) and the Harvard School of Public Health report entitled “The Global Economic Burden of Non-communicable Diseases” estimates global diseases
kill 36 million people every year and will cost upwards of US$47 trillion by 2030.
The World Health Organization's four biggest killers; cancer, heart disease, diabetes and
chronic respiratory disease are dominant in non-communicable disease (NCD) mortality
and morbidity. All four are increasing in prevalence and the cost of treatment is spiraling
out of control.
Exactly what is Diabetes?
Diabetes is a condition in which blood sugar levels are too high.
Much of the food you eat is broken down into a simple sugar called glucose. In response
to a rise in glucose levels after a meal the islets beta-cells in the pancreas read blood glucose
levels and secrete insulin into the blood. Insulin acts to open the gates of cells allowing the
glucose to move from the blood stream into the cells where it can be utilized for energy.
A Type 1 diabetes diagnosis means the pancreatic beta cells that read glucose levels and secrete
insulin have been damaged or destroyed. Thus glucose cannot move from the bloodstream into the cells.
A Type 2 (insulin resistance) diabetes diagnosis is a far more common verdict for people than
Type 1. Insulin resistance happens because of chronically elevated blood sugar and insulin levels.
These elevated levels of sugar and insulin have the effect of "numbing" the cellular processes which
move the sugar from the blood stream to the cells - the body cannot respond to the insulin "requests" to move blood sugar into the cells. Roughly 27% of the people who start out as Type 2
diabetics, will, in the future require insulin injections similar to Type 1 diabetics.
Between Type-1 and Type-2 patients with diabetes the total number of diabetics requiring insulin
in just North America, is about nine million.
Sernova Corp. TSX:V-SVA is a Canadian-based medical device development company focused on
chronic metabolic, neurological, and haematological diseases. Due to the enormous market and
potential for significantly improved patient treatment, Sernova’s first product focus is on diabetes.
Sernova’s Cell Pouch System™ is a versatile, scalable credit card-sized device, made of FDA approved
materials that provides a natural "organ-like" environment for therapeutic cells such as insulin
producing islets for diabetics. Think of the Cell Pouch System™ as a potential natural insulin producing
pump with the added benefit of fine-tuned glucose control. Placed under the skin in a simple inexpensive
procedure it develops endocrine pancreas like characteristics when islets are placed into the device taking
over normal glucose control. A key feature of the device is its ability to stimulate natural microvessel
development, thought to be essential for long-term survival and function of therapeutic cells.
Pharma Veteran Scott Langille brings over 25 years of experience in both Canada and the United States to Sernova Source: Sernova Corp September 30, 2016, 6:00 a.m. EDT LONDON, ONTARIO – (Marketwire – September 30, 2016) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical stage company developing disruptive regenerative medicine technologies for the long-term treatment of chronic diseases including diabetes and hemophilia, is pleased to announce today the appointment of Scott Langille as Chief Financial Officer.
“Sernova is pleased to have attracted a senior executive with extensive experience in corporate and operational finance, in all facets of life sciences including brand and generic pharmaceuticals, medical devices and biotechnology with a highly developed ability to attract and manage pharma partnerships, acquisitions and mergers,” remarked Dr. Philip Toleikis, Sernova’s President and CEO.
Mr. Langille’s most recent pharma successes includes CFO of Tribute Pharmaceuticals (TSXV:TRX or OTCQX :TBUFF), a diversified healthcare company with a primary focus on the acquisition, licensing, development and promotion of healthcare products in Canada and the U.S. Mr. Langille was responsible for strategic direction, business development initiatives, investor relations, corporate financing, financial operations and supply chain, and supported Tribute to a successful M&A event with Pozen to create Aralez Pharmaceuticals.
Prior to joining Tribute in September of 2007, Mr Langille was CFO of Virexx Medical Corp., a Canadian public biotech company, where he was responsible for strategic direction, business development initiatives, investor relations, corporate financing activities and financial operations. Prior to Virexx, he was Vice President at Biovail Pharmaceuticals and earlier held management positions at AltiMed Pharmaceuticals and Zimmer Canada.
Commenting on his appointment, Mr. Langille said, “I am excited to have the opportunity to join Sernova at this important juncture and look forward to working with the management team and Board to leverage my relevant experiences to create substantial value for our shareholders.”
We wish Ralph Deiterding, Sernova’s previous CFO, well in his future endeavors.
For further information contact:
Philip Toleikis, Ph.D., President and CEO. Tel: (604) 961-2939 firstname.lastname@example.org email@example.com
Ray Matthews & Associates. Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca 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.