Sernova Corp (TSE:SVA) has released an update.
Sernova Corp, a clinical-stage biotechnology firm, has announced the retirement of CTO Dr. Philip Toleikis and a significant operational restructuring aimed at cost savings. The company is preparing for a strategic transformation that includes a 35% reduction in workforce, expected to extend its financial runway. These changes come as part of Sernova’s efforts to prioritize their therapeutic pipeline, including a focus on Type 1 Diabetes treatment and advancements in regenerative medicine cell therapies.
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