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.
Sernova Corp. has engaged Carson Seabolt and Network IR to develop and execute a comprehensive investor communications program to raise awareness of the company within North American and international investment communities.
"Carson Seabolt and his team at Network IR are well-respected and will assist in the capital and institutional markets as we approach important Company milestones including anticipated clinical trial results in 2014," said Dr. Philip Toleikis, Sernova Corp Chief Executive Officer.
"Our team is very excited to begin working with Sernova and its Management. It is a very rare opportunity to find a clinical-stage company that is working towards building such a worthwhile and potentially game-changing portfolio of products. I feel strongly that Dr. Toleikis and the entire Sernova team have the ability to deliver to the market, future patients and society a better way of treating what were once considered lifelong illnesses," said Andrew Mugridge of Network IR.
"There is a lot to like about Sernova at this exciting juncture, and CEO Philip Toleikis is committed to ensure Sernova's story is told to an ever-discerning retail audience. Attracting Carson Seabolt and NIR is a testament to Dr. Toleikis's intuitive understanding that capital markets require an engaging, supportive retail ecosystem in the fruition of great projects. I credit Philip's commitment to his stakeholders as we march into a promising 2014,"said Ray Matthews, Strategic Advisor.
Under the terms of the Company's agreement with Network IR, the Company will pay to Network a cash fee of $6,000 per month for six months and grant to Network a total of 300,000 incentive stock options, each option being exercisable, once vested, into one common share of the Company at a purchase price of $0.15 per share. The options shall vest in four equal quarterly installments, and will be governed by the Company's option plan and the policies of the TSX Venture Exchange.