Full Press Release Details
Therapeutics Secures $10 Million Financing to Continue Advancing Lead IND Candidate
Phase 1 Clinical Trial in Advanced Parkinson's Disease Patients
December 2, 2024 (GLOBE NEWSWIRE) - Serina Therapeutics, Inc. ("Serina") (NYSE American: SER), a clinical-stage
biotechnology company, today announced a $10 million equity financing with strategic shareholder JuvVentures (UK) Limited. The transaction
provides Serina with funding to continue advancing SER-252 (POZ-apomorphine), enabled by its proprietary POZ Platform drug optimization
technology, into a Phase 1 clinical trial in advanced Parkinson's disease patients in the second half of 2025.
the terms of the funding agreement, Serina will issue one million shares of common stock at $10 per share, a 120% premium to the closing
price on November 26, 2024. The financing will be delivered in two tranches: the first $5.0 million tranche was received November 27,
2024, and the second $5.0 million tranche by January 31, 2025. Serina filed a Form 8-K with the SEC on December 2, 2024 that provides
additional information regarding this transaction.
SER-252 (POZ-apomorphine)
252 is an investigational apomorphine therapy developed with Serina's POZ platform and designed to provide continuous dopaminergic
stimulation (CDS). CDS has been shown to reduce the severity of levodopa-related motor complications (dyskinesia) and enable greater
on time, with reduced off time, in advanced Parkinson's patients. SER-252 leverages strategic partner Enable Injections'
enFuse wearable drug delivery platform to enhance patient comfort and convenience, providing CDS to patients via an easy-to-administer,
long-acting subcutaneous injection without skin reactions.
proprietary POZ technology is based on a synthetic, water soluble, low viscosity polymer called poly(2-oxazoline). Serina's POZ
technology is engineered to provide greater control in drug loading and more precision in the rate of release of attached drugs delivered
via subcutaneous injection. The therapeutic agents in Serina's product candidates are typically well-understood and marketed drugs
that are effective but are limited by pharmacokinetic profiles that can include toxicity, side effects and short half-life. Serina believes
that by using POZ technology, drugs with narrow therapeutic windows can be designed to maintain more desirable and stable levels in the
POZ platform delivery technology has potential for use across a broad range of payloads and indications. Serina intends to advance additional
applications of the POZ platform via out-licensing, co-development, or other partnership arrangements, including the non-exclusive license
agreement with Pfizer, Inc. to use Serina's POZ polymer technology for use in lipid nanoparticle drug (LNP) delivery formulations.
is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases
and other indications. Serina's POZ PlatformTM provides the potential to improve the integrated efficacy and safety
profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is
headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology.
more information, please visit https://serinatherapeutics.com.
Statement Regarding Forward-Looking Statement
release contains forward-looking statements within the meaning of federal securities laws. These statements are based on management's
current expectations, plans, beliefs or forecasts for the future, and are subject to uncertainty and changes in circumstances. Any express
or implied statements in this press release that are not statements of historical fact, including statements about the potential of Serina's
POZ polymer technology, are forward-looking statements that involve substantial risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties
inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates
for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable
new clinical data and further analyses of existing clinical data; the risk that clinical trial data are subject to differing interpretations
and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from our clinical
studies; whether and when any applications may be filed for any drug or vaccine candidates in any jurisdictions; whether and when regulatory
authorities may approve any potential applications that may be filed for any drug or vaccine candidates in any jurisdictions, which will
depend on a myriad of factors, including making a determination as to whether the product's benefits outweigh its known risks and
determination of the product's efficacy and, if approved, whether any such drug or vaccine candidates will be commercially successful;
decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability
or commercial potential of any drug or vaccine candidates; and competitive developments. These risks as well as other risks are more
fully discussed in the company's Annual Report on Form 10-K for the year ended December 31, 2023, the company's Current Report
on Form 8-K that was filed with the SEC on April 1, 2024, and the company's other periodic reports and documents filed from time
to time with the SEC.
information contained in this release is as of the date hereof, and Serina assumes no obligation to update forward-looking statements
contained in this release as the result of new information or future events or developments.
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