Seraxis and Sernova merge to create BetaNova Biotherapeutics

On September 8, 2026, Seraxis Holdings, Inc. ("Seraxis") entered into a definitive merger agreement with Sernova Biotherapeutics Inc. ("Sernova") to combine their technologies and businesses and create BetaNova Biotherapeutics ("BetaNova"), a clinical-stage company focused on advancing islet cell replacement therapies for the treatment of type 1 diabetes. Following completion of the transaction, shareholders of Seraxis and Sernova are expected to each own approximately 50% of BetaNova. The merger is expected to close in November 2026, subject to customary approvals and closing conditions.

Seraxis is a U.S.-based biotechnology company, headquartered in Germantown, Maryland, focused on the development and manufacture of stem cell-derived pancreatic islet therapies for the treatment of type 1 diabetes.

Sernova is a clinical-stage biotechnology company, headquartered in Mississauga, Ontario, developing regenerative medicine therapies for type 1 diabetes through its Cell Pouch Bio-hybrid Organ platform.

McCarthy Tétrault LLP is acting as Canadian counsel to Seraxis Holdings with a team led by Charles-Antoine Soulière and David Frost that includes Thomas Fung (Business Law), Marie-Soleil Landry and Joannie Marcoux (Tax).