Sernova Expands Leadership Team with Appointment of Modestus Obochi, Ph.D., MBA, as Chief Business Officer
LONDON, Ontario, July 26, 2023 (GLOBE NEWSWIRE) -- Sernova Corp. (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a clinical-stage company and leader in cell therapeutics, today announced the appointment of Modestus Obochi, Ph.D., MBA, a veteran dealmaker and strategic leader with 25+ years of biotech and pharmaceutical industry experience, as Chief Business Officer effective September 8, 2023.
“Dr. Obochi brings additional invaluable industry acumen to our expanding leadership team,” said Dr. Philip Toleikis, President and Chief Executive Officer of Sernova. “His proven expertise in strategy, business development, product lifecycle management, and operational excellence will be vital to our team as we continue to strategically advance our proprietary therapeutic cell therapy technologies including our Cell Pouch System™, both independently and with industry partners, as a potential ‘functional cure’ for multiple chronic diseases.”
Dr. Obochi added, “I am very excited by the significant commercial and the immense clinical potential that Sernova’s proprietary cell therapy platform has shown with the ongoing Phase 1/2 study in people living with type 1 diabetes. As an immunologist and someone whose family has been impacted by the devastating effects of T1D, the Sernova opportunity is very personal to me. I look forward to working with Sernova’s management and Board of Directors, its partners, and research collaborators as we aim to develop Sernova’s proprietary cell therapy platform into a commercially viable ‘functional cure’ modality for multiple chronic diseases, including insulin-dependent diabetes, hemophilia A, and hypothyroidism.”
Based in the Chicago, Illinois area, where he has resided for the last 16 years, Dr. Obochi joins Sernova from Phlow Corp., where he served as Executive Vice President of Strategy and Business Development. In that role, he led the design, development, and execution of corporate strategy and business development plans. He also managed the due diligence, structuring, and negotiations of all transactions, including licensing deals, product acquisitions, partnerships, M&A, and strategic investments. Prior to his role at Phlow Corp., Dr. Obochi held several executive-level commercial and business development roles at leading pharmaceutical companies including Pfizer, Hospira, and Baxter International, and has previously consulted for several biotechnology companies. Most notably, in these roles, Dr. Obochi has helped corporations raise significant capital and has successfully structured and closed multiple strategic transactions worth over $5 billion. Dr. Obochi holds a Ph.D. in Immunology from the University of British Columbia, Vancouver, and an MBA from the Beedie School of Business of Simon Fraser University, Vancouver. He has published over 30 manuscripts, including journal articles and symposia abstracts, and is an inventor on several patents, including one on cell transplantation.