Sernova Announces Oversubscribed Non-Brokered Private Placement

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[{"type":"text","content":"Sernova Announces Oversubscribed Non-Brokered Private Placement\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n THIS NEWS RELEASE IS NOT INTENDED\nFOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION\nIN THE UNITED STATES.\n \n\n\n\n\n\n\n LONDON, ONTARIO –\n \n\n TheNewswire -\n \n\n August 29, 2024 - Sernova\nCorp. (TSX: SVA) (OTCQB: SEOVF) (FSE: PSH) is pleased to announce\nthat its non-brokered, private placement offering of $4M is\noversubscribed with $4.7M of binding agreements received. The closing\nwill occur on Tuesday September 3, 2024, subject to TSX approval.\n \n\n\n\n This news release does not constitute an offer to sell\nor a solicitation of an offer to buy any of the securities in the\nUnited States. The securities have not been and will not be registered\nunder the United States Securities Act of 1933, as amended (the\n“U.S. Securities Act”) or any state securities laws and may not be\noffered or sold within the United States unless registered under the\nU.S. Securities Act and applicable state securities laws or an\nexemption from such registration is available.\n \n\n\n\n ABOUT SERNOVA AND ITS CELL POUCH SYSTEM PLATFORM FOR\nCELL THERAPY\n \n\n\n\n Sernova Corp. is a clinical-stage biotechnology company\nthat is developing therapeutic cell technologies for chronic diseases,\nincluding insulin-dependent diabetes and thyroid disease. Sernova is\ncurrently focused on developing a ‘functional cure’ for\ninsulin-dependent diabetes with its lead technology, the Cell Pouch\nSystem, a novel implantable and scalable medical device with immune\nprotected therapeutic cells.\n \n\n\n\n On implantation, The Cell Pouch forms a natural,\nvascularized tissue environment in the body allowing long- term\nsurvival and function of therapeutic cells that release essential\nfactors that are absent or deficient in patients with certain chronic\ndiseases. Sernova’s Cell Pouch System has demonstrated its potential\nto be a ‘functional cure’ for people with T1D in an ongoing Phase\n1/2 clinical study at the University of Chicago.\n \n\n Sernova partnered with Evotec to develop an implantable off-the-shelf\niPSC (induced pluripotent stem cells) based islet replacement therapy.\nThis p...

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