Sernova Biotherapeutics Secures CAD$1,000,000 Unsecured Convertible Debenture Financing
London, Ontario and Boston, March 5, 2025 – Sernova Biotherapeutics, a pioneering regenerative medicine company, announced a significant investment towards its ongoing efforts to develop the Cell Pouch Bio-hybrid Organ as a functional cure for type 1 diabetes. The investment comes in the form of a CAD$1,000,000 unsecured convertible debenture financing from Dr. Steven Sangha, a current Sernova shareholder and board member.
About Sernova Biotherapeutics
Sernova Biotherapeutics is a leading regenerative medicine company dedicated to the development of its Cell Pouch Bio-hybrid Organ. This innovative technology aims to restore insulin-producing beta cells in the pancreas of patients with type 1 diabetes, offering a potential functional cure for this chronic condition. The company’s unique approach combines cell therapy with medical devices to create a bio-hybrid organ that can produce, store, and release insulin as needed.
Details of the Financing
The financing will provide Sernova with much-needed working capital to further advance its clinical development programs. Dr. Sangha’s investment will be in the form of unsecured convertible debentures, which will bear interest at a rate of 5% per annum and will mature in five years. The debentures will be convertible into common shares of Sernova at a conversion price of CAD$0.50 per share.
Impact on Sernova
This financing is a significant step forward for Sernova as it continues to progress in its quest to develop a functional cure for type 1 diabetes. With the additional working capital, the company can focus on its clinical trials and bring its Cell Pouch Bio-hybrid Organ closer to market. Dr. Sangha’s continued involvement as a shareholder and board member also strengthens Sernova’s team and lends credibility to the company’s efforts.
Global Implications
If successful, Sernova’s Cell Pouch Bio-hybrid Organ could revolutionize the way type 1 diabetes is treated and managed. According to the International Diabetes Federation, there are currently over 463 million people living with diabetes worldwide. A functional cure for type 1 diabetes would significantly improve the quality of life for millions of people and reduce the economic burden of diabetes on healthcare systems.
Conclusion
Sernova Biotherapeutics’ recent financing is an exciting development for the company and the diabetes community as a whole. With the support of Dr. Steven Sangha, Sernova can continue to advance its Cell Pouch Bio-hybrid Organ technology and bring a potential functional cure for type 1 diabetes to market. The global implications of this innovation are immense, offering hope for millions of people living with diabetes and reducing the burden on healthcare systems worldwide.
- Sernova Biotherapeutics secures CAD$1,000,000 unsecured convertible debenture financing from Dr. Steven Sangha
- Proceeds will be used to fund working capital for the development of Cell Pouch Bio-hybrid Organ as a functional cure for type 1 diabetes
- Dr. Sangha is a current Sernova shareholder and board member
- This financing strengthens Sernova’s team and lends credibility to its efforts
- Successful development of Cell Pouch Bio-hybrid Organ could revolutionize the way type 1 diabetes is treated and managed
- Over 463 million people worldwide live with diabetes, and a functional cure could significantly improve their quality of life and reduce healthcare costs
