India, Sept. 8 -- Sernova Biotherapeutics Inc. (SVA.TO, SEOVF) and Seraxis Holdings, Inc. announced Tuesday a definitive agreement to combine their technologies and businesses to create a clinical-stage company, BetaNova Biotherapeutics, focused on advancing a differentiated approach to type 1 diabetes (T1D) islet cell replacement.
BetaNova will be a U.S.-domiciled biotechnology company headquartered in Germantown, Maryland, with integrated research laboratories and cGMP manufacturing capabilities. Upon completion of the Merger, the shareholders of Seraxis and Sernova will each own approximately 50% of BetaNova.
The merger unites Sernova's Cell Pouch Bio-hybrid Organ with Seraxis' stem cell-derived pancreatic islet cells and in-house cGMP...