Sinovac Biotech (SVA) Announces Appointment of New CEO

August 12, 2024. Sernova Corp. (“Sernova” or the “Company”) (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a clinical-stage biotechnology company focused on the development of regenerative medicine cell therapies for treatment of chronic diseases, led by an ongoing phase 1/2a clinical trial in type 1 diabetes, is pleased to announce Mr. Jonathan Rigby as the Company’s new Chief Executive Officer.

James Parsons, on behalf of the Board of Directors of Sernova, stated, “The Board believes that Sernova is now positioned to achieve its strategic milestones under Jonathan’s leadership. Jonathan brings a track record of success raising equity capital for biotech companies. Jonathan has led multiple biotech companies through listings onto Nasdaq, and the achievement of key operational and clinical developments, leading to strategic acquisitions that have generated significant value for shareholders.”

On his appointment, Mr. Rigby commented, “As a type 1 diabetic myself, I am honored to serve the company and its shareholders as Sernova’s new CEO. I am passionate about Sernova’s mission and determined to lead the Company to realize its full potential. I have financed and grown multiple companies through to exits and my goal is clear; I will work tirelessly with the team to do the same for Sernova and its shareholders.”

Mr. Rigby has held several CEO roles and currently serves on the board of directors of cancer therapy company, Oncolytics Biotech Inc. (Nasdaq: ONCY), and IM Therapeutics, working in the diabetes field. He was formerly a board member of Xeris Pharmaceuticals, which developed and commercialized a product to treat type 1 diabetes severe hypoglycemia. Mr. Rigby holds a degree in biological sciences from the University of Sheffield, U.K., and has a master of business administration degree from the University of Portsmouth, U.K.

The Board thanks Ms. Cynthia Pussinen, the Company’s former CEO, for her dedication and service to the Company and wishes her the very best in her future endeavors.

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