Sernova - Press Releases

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Press Release Communiqué de presse - December 16, 2021 16 December, 2021

Sernova Announces Clinical Investigator Update of its Type 1 Diabetes Trial at the 2022 ASTS 22nd Annual Winter Symposium

LONDON, ONTARIO – December 16, 2021 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage regenerative medicine and cell therapy therapeutics company focused on developing a potential ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases, is pleased to announce that Dr. Piotr Witkowski, principal investigator of Sernova’s Phase I/II clinical trial will present updated interim results from the ongoing safety, tolerability and efficacy study of Sernova’s Cell Pouch™ in a poster session at the American Society of Transplant Surgeons (ASTS) 22nd Annual “State of the Art” Winter Symposium on January 13, 2022.

Dr. Witkowski’s presentation entitled, A Modified Approach for Improved Islet Allotransplantation into the Pre- vascularized Sernova Cell Pouch™ device-preliminary results of the phase I and II clinical study at University of Chicago, will be presented to more than 600 transplant professionals as part of Abstract Session A, starting at 5:30 PM. Further details on the program and registration can be found on the ASTS Winter Symposium website: https://asts.org/events-meetings/winter-symposium

The ASTS Winter Symposium is the same conference where, in January 2021, Dr. Witkowski presented positive preliminary safety and efficacy data indicating that Sernova’s Cell Pouch™ transplanted with insulin producing cells in patients with type 1 diabetes showed persistent islet function and clinically meaningful improvement in measures of glucose control.

ABOUT ASTS AND THE 22nd ANNUAL STATE OF THE ART WINTER SYMPOSIUM

The American Society of Transplant Surgeons represents approximately 1,900 professionals, regulatory authorities and pharmaceutical representatives dedicated to excellence in transplantation surgery. ASTS advances the art and science of transplant surgery through patient care, research, education, and advocacy.

ABOUT SERNOVA Sernova is developing regenerative medicine therapeutic solutions using a medical device (Cell Pouch) and immune protected therapeutic cells / tissues (i.e. human donor cells, corrected human cells and stem cell- derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through cellular production of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Corey Davis, Ph.D. LifeScience Advisors, LLC cdavis@lifesciadvisors.com Tel: 212-915-2577

Christopher Barnes VP, Investor Relations Sernova Corp. christopher.barnes@sernova.com Tel: 519-902-7923 www.sernova.com

FORWARD-LOOKING INFORMATION

This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and/or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - December 14, 2021 14 December, 2021

Sernova Appoints Christopher Barnes as Vice President, Investor Relations & Grants Options/DSUs

LONDON, ONTARIO – December 14, 2021 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage leader in regenerative medicine and cell therapy therapeutics developing a potential ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases, is pleased to announce today it has appointed executive Christopher Barnes as Vice President, Investor Relations. Mr. Barnes will lead the execution of Sernova’s investor relations strategy and communications activities.

New VP Investor Relations

Mr. Barnes has a track record of 23 years of experience in both investor relations and capital markets. His previous investor relations experience includes being the investor relations head at a large North American healthcare company. Additionally, he has worked in the capital markets and institutional sales for three boutique investment dealers covering buy side accounts in Canada, the United States and Europe. “We are pleased to welcome seasoned investor relations and capital markets executive Christopher Barnes to the Sernova management team,” commented Dr. Philip Toleikis, President and CEO. “The ongoing success of our Cell Pouch System™ diabetes clinical program, rivalling our peers, and our evolving global pharmaceutical partnering activities are catching the eye of institutional investors and others. Christopher’s strong network of relationships across the North American investment community combined with his capital markets savvy and communications experience will accelerate and broaden the awareness of Sernova’s prospects, developing the cell therapy industry’s most clinically successful platform to date, with our T1D study’s longest treated patient now being insulin independent for over 20 months. He will work closely with our New York, US based LifeSci Advisors team bolstering targeted investor outreach and other new initiatives as well as support the shift in our shareholder base towards institutional shareholders.”

Mr. Barnes’ appointment continues the buildout of Sernova’s management and internal clinical and regulatory, R&D and corporate teams to support and continue the execution of the Company’s growth plan.

Option and DSU Grants

In conjunction with team’s expansion and the recognition of Sernova’s significant accomplishments and transformation over the last two years, the Sernova board of directors has granted 13,575,484 stock options to certain officers, employees and consultants of the Company, with each option being exercisable into one common share at a price of $1.32 per share for a period of 5 years, and granted 1,360,000 Deferred Share Units (DSU) to its non-management directors. The last company wide option and DSU grants occurred two years ago in 2019.

ABOUT SERNOVA Sernova is developing regenerative medicine therapeutic solutions using a medical device (Cell Pouch) and immune protected therapeutic cells / tissues (i.e. human donor cells, corrected human cells and stem cell- derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through cellular production of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Corey Davis, Ph.D. LifeScience Advisors, LLC cdavis@lifesciadvisors.com Tel: 212-915-2577

Christopher Barnes VP, Investor Relations Sernova Corp. christopher.barnes@sernova.com Tel: 519-902-7923 www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and/or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - December 02, 2021 2 December, 2021

Sernova Announces Appointment of Executive Chair to Complement its Management Team

LONDON, ON – December 2, 2021 -- Sernova Corp. (TSX-V:SVA)(FSE/XETRA:PSH)(OTCQB:SEOVF), a leading clinical-stage company focused on regenerative medicine therapeutics, is pleased to announce that Frank Holler, member and chairman of the Sernova board of directors, will assume a new role of Executive Chair in order to augment the current leadership team and further support the Company’s evolving corporate and R&D activities and objectives.

“Frank Holler is an experienced veteran in the biotech industry and I look forward to leveraging his expertise and experience to build on our momentum at the forefront of the regenerative therapeutics space,” said Dr. Philip Toleikis, President & CEO.

Mr. Holler added, “With our success to date, the Sernova Board of Directors believes we are at a critical juncture in the Company’s maturation as we manage the growth of our clinical and pre-clinical programs, progress our multiple partnering relationships and leverage capital markets opportunities. With these additional responsibilities, I am thrilled to lend executive expertise to our current management and look forward to working even more closely with Dr. Philip Toleikis, and his leadership team to achieve key corporate objectives focused on the creation and realization of additional shareholder value.”

Mr. Holler is presently President & CEO of Ponderosa Capital Inc. and has previously held Chair or CEO roles at Lions Capital Corp., Xenon Pharmaceuticals, Inc. and ID Biomedical Corporation. He was also a founding director of Angiotech Pharmaceuticals, Inc. Prior to his experiences in biotechnology and healthcare, Mr. Holler was an investment banker with Merrill Lynch Canada and Wood Gundy, Inc. (now CIBC World Markets).

ABOUT SERNOVA

Sernova is developing regenerative medicine therapeutic technologies using an implantable medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin- dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Investors: Corey Davis, Ph.D. LifeScience Advisors, LLC cdavis@lifesciadvisors.com 212-915-2577

Corporate: Sernova Corp. 519-858-5126 investorrelations@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events, including results of clinical trials, and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances, or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - November 16, 2021 16 November, 2021

Sernova to Present at the Canaccord Genuity Virtual MedTech, Diagnostics and Digital Health & Services Forum

November 16, 2021 6:00 AM ET

LONDON, ON – November 16, 2021 -- Sernova Corp. (TSX-V:SVA)(FSE/XETRA:PSH)(OTCQB:SEOVF), a leading clinical-stage company focused on regenerative medicine therapeutics, today announced that Dr. Philip Toleikis, President and CEO, will present at the Canaccord Genuity Virtual MedTech, Diagnostics and Digital Health & Services Forum on Thursday, November 18th, 2021 at 10:00am ET.

Management will be available throughout the conference for virtual one-on-one meetings. Investors interested in arranging a meeting with the Company’s management during the conference should contact the Canaccord Genuity conference coordinator or Sernova investor relations.

Webcast Information: A live webcast of Sernova’s presentation session will be available under ‘Featured News’ on the Company’s website at https://www.sernova.com/press or by accessing the event directly at following link: https://wsw.com/webcast/canaccord61/sva.v/2570694.

ABOUT SERNOVA Sernova is developing regenerative medicine therapeutic technologies using an implantable medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin- dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Investors: Corey Davis, Ph.D. LifeScience Advisors, LLC cdavis@lifesciadvisors.com 212-915-2577

Corporate: Sernova Corp. 519-858-5126 investorrelations@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events, including results of clinical trials, and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances, or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - October 01, 2021 1 October, 2021

Sernova: The Ultimate Combination of Two Proven Technologies as Potential Functional Cure for Type1 Diabetes and Other Chronic Diseases

Information Session Webinar on Sernova’s Conformal Coating Immune Protection Technology with Dr. Toleikis and International Expert, Dr. Tomei Now Available on Sernova’s Website

October 1, 2021 6:00 a.m. EDT

LONDON, ONTARIO – October 1, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF) (FSE/XETRA:PSH), a leading clinical-stage regenerative medicine company developing a ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases, recently hosted an information session webinar. The webinar announced Sernova’s collaboration with the University of Miami (UMiami) and associate professor and international expert in immunoprotection and diabetes engineering, Dr. Alice Tomei of the UMiami’s Diabetes Research Institute. During this webinar Drs. Toleikis and Tomei discussed the Conformal Coating Immunoprotection Technology and its pivotal role within Sernova’s Cell Pouch Technology platform. A Q&A session followed the presentation by Drs. Toleikis and Tomei. The responses to key questions asked by attendees are summarized below.

For those investors and other interest parties who were unable to attend the information session, a recording is available at www.sernova.com

At what stage of development is the Conformal Coating Immunoprotection Technology?

This technology is backed by over 12 years of scientific research. Scientific research has included extensive preclinical testing followed by optimization to arrive at the final formulation which is being tested in Sernova’s Cell Pouch.

Have islets with Conformal Coating been shown to be safe in preclinical models?

Yes. A positive safety profile has been demonstrated in small and large animal preclinical models.

Does the Conformal Coating affect the release of insulin from islets tested in the lab?

Insulin release in conformal coated islets is comparable to uncoated islets. Conformal coated islets have shown uptake of glucose and the release of insulin remains normal.

When tested in preclinical models of diabetes, is the release of insulin into the bloodstream from islets with Conformal Coating similar to uncoated islets?

Preclinical diabetes studies completed have shown a normal insulin response to a glucose challenge (glucose tolerance test).

Have conformal coated islets been shown to provide a ‘functional cure’ for diabetes in preclinical models?

Yes. In two preclinical diabetes animal model studies completed, long-term insulin independence without the need for immunosuppressive drugs has been demonstrated which is considered to be a ‘functional cure’.

Have stem cell derived islets with Conformal Coating been shown to provide a ‘functional cure’ for diabetes in preclinical models?

Yes. Long-term insulin independence has been demonstrated.

It seems the Conformal Coating and Cell Pouch technologies have both been tested and optimized. Do you expect that the combination of these two technologies will enable more rapid entry into the clinic than if developing new technologies?

Yes. We are combining these two well tested technologies in our studies with the goal of entering clinical trials for both donor islets and diabetes stem cell technologies as soon as practicable.

Why is the Conformal Coating approach for immune protection ideally suited for the Sernova’s Cell Pouch technologies?

We believe the Cell Pouch design provides the ideal organ-like environment for therapeutic cells. Our ability to provide Conformal Coating immunoprotection of cells within the Cell Pouches vascularized, organ-like environment could avoid the detrimental issues associated with other immune protected macro devices, while providing a protected and retrievable site for the therapeutic cells. This combination is expected to form a platform for multiple therapeutic cell technologies.

From an investor viewpoint, why is this collaboration important?

The opportunity to provide patients with a locally immune protected cell therapy treatment approach without the need to take life-long immunosuppression medications is expected to dramatically increase the available patient populations for multiple diseases who could benefit from these therapies. In addition, locally immune protected cells within the Cell Pouch is of great interest to our pharmaceutical collaborators. The ultimate combination of two proven technologies as a potential ‘functional cure’ for T1D and other chronic diseases would be expected to add tremendous shareholder value from the expansion of addressable markets across multiple indications, and in turn, potential long term revenues.

Dr. Toleikis, President & CEO of Sernova, stated, “In the development of a novel therapeutic cell therapy approach for all people with T1D, Sernova’s systematic approach has provided encouraging initial safety and clinical benefit in patients with brittle T1D. We continue to take a leadership role with our unique local cellular immunoprotection strategies for islet technologies and look forward to the day when patients can enjoy a ‘functional cure’ without the need for life-long immunosuppression drugs.”

ABOUT SERNOVA

Sernova is developing regenerative medicine therapeutic solutions using a medical device (Cell Pouch™) and immune protected therapeutic cells/tissues (i.e., human donor cells, corrected human cells and stem cell- derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through cellular production of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Investors: Corey Davis, Ph.D. LifeScience Advisors, LLC cdavis@lifesciadvisors.com 212-915-2577

Corporate: Investor Relations Sernova Corp. Tel: (519) 858-5126 investorrelations@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION

This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and/or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - September 29, 2021 29 September, 2021

Sernova Engages New York-Based LifeSci Advisors as US Investor Relations Partner

Integrated Advisory and Investor Relations Program to Focus on Elevating Company’s Visibility in US Capital Markets Ahead of Projected Corporate Milestones

September 29, 2021 6:00 a.m. EDT

LONDON, ONTARIO – September 29, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a clinical-stage leader in regenerative medicine and cell therapy therapeutics developing a potential “functional cure” for type 1 diabetes (T1D) and other chronic diseases, announced today it has engaged New York-based LifeSci Advisors LLC, a leading investor relations consultancy firm serving life science companies. LifeSci is an investor relations consultancy that will provide institutional investor communications and capital markets outreach services to help Sernova achieve its capital markets objectives via a broad array of initiatives. With a global presence, LifeSci Advisors (www.lifesciadvisors.com) provides comprehensive services designed to increase its clients’ visibility within the investment community and to educate institutional investors about the Company. The LifeSci team has substantial experience in equity capital markets and the life science industry, with long-standing relationships among leading institutional investors and senior corporate professionals that it leverages on behalf of its clients.

“We are delighted to engage LifeSci during this exciting time for Sernova,” said Dr. Philip Toleikis, President and CEO of Sernova. “With multiple potential value-creating milestones on the horizon, it is important for us to clearly communicate our value proposition to investors and the industry as we work toward achieving major inflection points. We believe LifeSci has the right team and approach to help us reach the appropriate institutional audience on a global scale, which has the potential to create substantial shareholder value as we execute against our clinical and business objectives.”

The engagement is subject to TSX Venture Exchange acceptance. Under the terms of the engagement, LifeSci Advisors will be engaged for an initial term of up to 12 months, which may be renewed by the parties. In addition to reimbursement of reasonable out-of-pocket expenses, Sernova will pay LifeSci Advisors a services fee of US$210,000.

ABOUT SERNOVA Sernova is developing regenerative medicine therapeutic solutions using a medical device (Cell Pouch™) and immune protected therapeutic cells/tissues (i.e., human donor cells, corrected human cells and stem cell- derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through cellular production of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Investors: Corey Davis, Ph.D. LifeScience Advisors, LLC cdavis@lifesciadvisors.com 212-915-2577

Corporate: Investor Relations Sernova Corp. Tel: (519) 858-5126 investorrelations@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and/or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - September 16, 2021 16 September, 2021

Sernova Signs Collaboration Agreement to Advance Conformal Coated Immune Protected Therapeutic Cells for Diabetes with the University of Miami

Collaboration to build on positive Cell Pouch T1D Clinical Outcomes and preclinical success in Global Pharmaceutical Collaborations to develop regenerative medicine therapeutic cures without life-long immunosuppression medications across multiple diseases

An information session featuring Dr. Alice Tomei, a leading international expert in immunoprotection and diabetes immunoengineering at the University of Miami, will take place on September 20th, 2021, at 1:00 PM EDT

September 16, 2021 6:00 a.m. EDT

LONDON, ONTARIO – September 16, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a clinical-stage regenerative medicine company developing a ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases, announced today it has entered into a research agreement with the University of Miami to advance the development of our Cell Pouch™ cell therapy platform combined with the novel conformal coating cellular immune protection technology.

Dr. Alice Tomei, of the renowned Diabetes Research Institute (DRI) at the University of Miami Miller School of Medicine, is an associate professor and international expert in immunoprotection and diabetes immunoengineering. As part of this important collaboration, Dr. Tomei and her team is working closely with Sernova’s R&D team. The expert teams have developed a series of key preclinical and polymer characterization studies. In addition, work is being conducted to scale-up the conformal coating technology process. The ultimate goal of this work is to support and accelerate the anticipated clinical evaluation of the Cell Pouch platform without the need for immunosuppression in patients with brittle T1D.

While the studies will focus on immune protection of insulin producing cells in the Cell Pouch, these technology advances are expected to be directly relevant and applicable to an array of cell technologies for treatment of multiple cell therapy applications.

Dr. Tomei stated, “We have developed and optimized the conformal coating technologies over approximately twelve years with the goal of ensuring local immune protection of therapeutic cells without the need for life- long immunosuppression medications. Our hope is that Sernova’s Cell Pouch technologies, which have already shown initial clinical benefit in patients with brittle T1D, when combined with conformally coated local immune protected islets, have the potential to provide a significant advancement in the treatment of people suffering from T1D.”

Dr. Toleikis, President & CEO of Sernova stated, “In our development of a therapeutic cell therapy approach for all people with T1D, we have used a systematic and stepwise strategy, first by combining our Cell Pouch in the clinic for patients with brittle T1D with human donor islets protected with immunosuppression. Given the proven safety and efficacy of our Cell Pouch technologies, we are now thrilled to take this next step in our strategic approach by collaborating with Dr. Tomei’s team to advance the conformal coating as a cellular local immune protection strategy for islet technologies.”

“An information session will take place on September 20th, 2021, at 1:00 PM EDT. The information session will feature Dr. Alice Tomei, associate professor at the University of Miami. During this information session, Dr. Tomei will discuss the conformal coating technology approach for local cellular immune protection and Sernova will also provide a management update during this session," said Dr. Philip Toleikis, "Session attendees will be able to ask questions during a following Q&A period with Dr. Tomei and Sernova management.”

The presentation will be made available on Sernova's website before the call. Questions can be submitted to info@sernova.com prior to the call.

To register and access the Zoom link for this event, please click: https://us02web.zoom.us/webinar/register/WN_iDuWzqW4R3COgQ_toI376A

Following the event, a recording will be available at www.sernova.com.

ABOUT SERNOVA Sernova Corp is developing regenerative medicine therapeutic solutions using a medical device (Cell Pouch™) and immune protected therapeutic cells/tissues (i.e., human donor cells, corrected human cells and stem cell- derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through cellular production of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

FOR FURTHER INFORMATION, PLEASE CONTACT: Investor Relations Sernova Corp. Tel: (519) 858-5126 investorrelations@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and/or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - August 09, 2021 9 August, 2021

Sernova to Present Corporate Update at Canaccord Genuity’s 41st Annual Growth Conference

LONDON, ON – August 9, 2021 -- Sernova Corp. (TSX-V:SVA)(FSE/XETRA:PSH)(OTCQB:SEOVF), a leading clinical-stage company focused on regenerative medicine therapeutics, today announced that Dr. Philip Toleikis, President and CEO, will provide a corporate update at Canaccord Genuity’s 41st Annual Growth Conference on Wednesday, August 11th, 2021 at 9:30am EDT.

Dr. Toleikis said, “The opportunity to present at Canaccord Genuity’s 41st Annual Growth Conference furthers our agenda to expand awareness among US investors, institutions, and bankers. This presentation will highlight Sernova’s recent clinical advancements and collaborations, and we will share the unprecedented potential of our cellular therapeutics platform to transform the treatment and management of chronic diseases, such as diabetes, hemophilia, and hypothyroidism. As one example, in our ongoing US Phase I/II diabetes clinical trial, our first patient has completed the study protocol and achieved complete insulin independence for over 15 months (and counting). These interim clinical findings demonstrate not only clinical benefit in a brittle diabetic population but that a ‘functional cure’ may be achievable for these patients.”

Management will be available throughout the conference for virtual one-on-one meetings. Investors interested in arranging a meeting with the Company’s management during the conference should contact the Canaccord Genuity conference coordinator.

Webcast Link: A live webcast of Sernova’s presentation session will be available under ‘Featured News’ on the Company’s website at https://www.sernova.com/press

ABOUT SERNOVA Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT: Investor Relations Sernova Corp. Tel: (519) 858-5126 investorrelations@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events, including results of clinical trials, and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - July 05, 2021 5 July, 2021

Sernova Announces 2021 Annual Meeting Results: Shareholders Approve Resolutions with Overwhelming Majority

LONDON, ONTARIO – July 5, 2021 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, held its annual shareholder meeting (the “Meeting”) via the virtual meeting platform of TSX Trust Company for the following purposes:

1. to elect the Corporation’s board of directors (the “Board”); 2. to appoint the Corporation’s auditor; and 3. to pass ordinary resolutions to amend and restate the Corporation’s Option Plan & Deferred Share Unit Plan (the “Incentive Plan”) for the following purposes: (a) to increase the fixed number maximum of shares reserved for grant of options and (b) to increase the fixed number maximum of Deferred Share Units available for award pursuant to the Deferred Share Unit Plan component of the Incentive Plan.

Results of the Meeting:

• Frank A. Holler, Dr. Mohammad Azab, Jeffrey A. Bacha, Deborah M. Brown, James T. Parsons and Dr. Philip M. Toleikis were elected as members of the Board for the following year; • Davidson & Company, Chartered Professional Accountants, was appointed auditor of the Corporation for another year; and • disinterested shareholders approved the increase in the fixed number maximum of common shares reserved for the grant of options and the increase of the fixed number maximum of deferred share units available for award pursuant to the Incentive Plan.

“I would like to thank our shareholders for their Meeting participation and continuing support. From a financial point of view combined with our latest encouraging interim diabetes clinical results (having established insulin independence in our most advanced study patient for over 14 months) and the stage of our advancing pharmaceutical collaborations, Sernova is in the strongest position in its history,” said Dr. Philip Toleikis, President & CEO of Sernova Corp.

Toleikis continued, “Improving the quality of life for our patients through expansion of our clinical programs and further increasing shareholder value are top priorities as we work to achieve important milestones over the next 6-12 months.”

ABOUT SERNOVA Sernova is developing regenerative medicine therapeutic technologies using its Cell Pouch medical device, therapeutic cells (i.e., human donor cells, corrected human cells, stem cell-derived cells and tissues) and immune protection technologies to improve the treatment and quality of life of people living with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT: Investor Relations Sernova Corp. Tel: (519) 858-5126 investorrelations@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events, including results of clinical trials, and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Press Release Communiqué de presse - June 30, 2021 30 June, 2021

Industry Veteran Frank Shannon Joins Sernova as VP Clinical Development and Regulatory Affairs

25-Year Industry Veteran in Clinical/Regulatory Therapeutics Development Joins Sernova’s Executive Team

June 30, 2021 6:00 AM EDT

LONDON, ONTARIO – June 30, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, today announced that pharmaceutical industry executive, Frank Shannon has joined Sernova as Vice President, Clinical Development and Regulatory Affairs.

"In his distinguished career focused on North American and International clinical development and regulatory affairs of therapeutic products, Mr. Shannon has developed extensive knowledge and experience in a number of therapeutic areas,” said Dr. Philip Toleikis, President & CEO Sernova Corp. “Importantly, he has worked in both smaller emerging biopharma companies as well as with international pharmaceutical conglomerates and his experience in the execution of combination product clinical development will be invaluable for Sernova’s novel cell therapy development programs."

Dr. Toleikis continued, "With Sernova’s clinical success to date in type 1 diabetes (T1D), we look forward to leveraging Mr. Shannon’s strategic expertise to further progress our ongoing T1D program, including our current US Phase I/II Cell Pouch™ clinical trial, and our local immune protection and stem cell technology initiatives as well as driving clinical development of our other therapeutic programs in thyroid disease and hemophilia A.”

Mr. Shannon has a track record of more than 25 years of proven experience in clinical development and regulatory affairs. He has served in senior level positions within the international medical device, pharmaceutical, and biologic industries where he achieved commercial goals through innovative risk management and execution strategies, to obtain marketing approval of products.

Mr. Shannon most recently served as VP Clinical Development, Regulatory Affairs and Quality at Ripple Therapeutics, a spin-out of Interface Biologics where he served in the same capacity since 2006. Prior to these appointments, he held various senior clinical/regulatory positions at Baxter International, St. Jude Medical, Boehringer-Ingelheim, Hoffmann-La Roche/Roche Laboratories, Inc., Genentech Canada, Inc., and Ciba-Geigy Canada, Ltd.

"I am thrilled to be joining Sernova at such an exciting time in its development,” said Frank Shannon. “I look forward to bringing the learnings from all of my experiences to positively impact Sernova’s expanding clinical programs as the company advances its novel leading regenerative medicine therapeutic programs."

ABOUT SERNOVA Sernova is developing regenerative medicine therapeutic technologies using its Cell Pouch medical device, therapeutic cells (i.e., human donor cells, corrected human cells, stem cell-derived cells and tissues) and immune protection technologies to improve the treatment and quality of life of people living with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT: Investor Relations Sernova Corp. Tel: (519) 858-5126 investorrelations@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events, including results of clinical trials, and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - June 27, 2021 27 June, 2021

Sernova’s Principal Investigator Presents Interim Data and Positive Patient Outcomes of Phase I/II T1D Study at the American Diabetes Association 81st Scientific Sessions

First Patient Successfully Completes Clinical Trial and Shares Study Experiences and Impact

June 28, 2021 6:00 a.m. EDT

LONDON, ONTARIO – June 28, 2021 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, today announced that its principal investigator, Dr. Piotr Witkowski, and the clinical trial team for Sernova’s US Phase I/II Type I Diabetes (T1D) clinical trial presented interim data and patient observations from the ongoing study at the American Diabetes Association’s (ADA) 81st Scientific Sessions being held June 25-29th, 2021. Sernova’s data were delivered in a poster presentation entitled “Persistent graft function after allotransplantation into pre-vascularized Sernova Cell Pouch™ device: Preliminary results from the University of Chicago.”

The overall objective of Sernova’s Phase I/II clinical trial is to assess the safety, tolerability and efficacy of its proprietary Cell Pouch transplanted with insulin-producing islets. Study patients eligible to participate in the clinical trial must meet stringent eligibility criteria including, but not limited to, long-standing T1D, severe hypoglycemic unawareness episodes and no glucose-stimulated C-peptide circulating in their bloodstream.

In his poster presentation, Dr. Witkowski confirmed continued safety and tolerability in all six enrolled study patients. In addition, the two longest-treated patients continue to demonstrate defined and meaningful clinical benefit in line with previously established key T1D efficacy indicators including reduction in HbA1c, reduction or elimination of severe hypoglycemic events (SHE), reduction or elimination of daily injectable insulin, detection of C-peptide in the patients’ bloodstream, and improvement in glucose control as measured by continuous glucose monitoring (CGM). The remaining patients are advancing through the study at different stages and their progress continues to be evaluated. The study plans to enroll a total of seven patients and is actively screening for the recruitment of the final patient.

Importantly, the most advanced patient showing positive clinical benefit achieved with Cell Pouch and transplanted islets, and then receiving a top up single infusion of islets (via portal vein), has successfully completed the study protocol. Data from this patient support the long-term safety of Sernova’s Cell Pouch and, importantly, the patient has now remained insulin independent (no requirement for injectable insulin) for 14 months with optimal glucose control. The patient recently gave Sernova permission to share the impact and their personal experience of being the first recipient of the Cell Pouch in Sernova’s T1D Phase I/II clinical trial:

“After completing the safety, tolerability and efficacy study of Sernova's Cell Pouch for clinical islet transplantation and as the first transplant candidate, I can easily state how absolutely wonderful life is to be free of always thinking of how to manage my diabetes. After having T1D for 47 years with approximately 21,535 injections of various cow/pig, synthetic insulins, 34,310 finger sticks, 1,460 urine tests, 15 years on the pump, carbohydrate counting, blood tests, low blood sugar reactions, and doctors…doctors and more doctors’ visits, I have now been free of the need for injectable insulin for 14 months. My Sernova team of invaluable scientists, doctors, engineers, and Dr. Witkowski, and the University of Chicago's support staff have done this truly amazing feat right in the middle of a worldwide pandemic! My only wish is that it could have been done sooner.”

Said principal investigator Dr. Witkowski, “As a clinician-scientist and surgeon, success is typically based on objective outcome measures. Although crucial, often what is missing is the perspective of the patients and the impact on their lives, in their own words. I am thrilled with the transformative and meaningful impact that our clinical trial has had and continues to have on the life of our first patient and I would like to extend my congratulations to this individual who successfully completed the Sernova study with the positive outcome of insulin independence. As we continue to optimize conditions within the designed clinical protocol, I am excited and proud to be a part of the evolution of Sernova’s novel cell therapy approach for the treatment of T1D.”

“Sernova’s ultimate goal is to establish a ‘functional cure’ based on our Cell Pouch technologies for all people with T1D”, said Dr. Philip Toleikis, President & CEO of Sernova Corp. “As we advance our clinical program we thank our patients and physicians as well as our participating pharmaceutical and medtech collaborators who have assisted us to advance beyond established, but insufficient, therapies. Good science is a step-by-step process, and each advancement brings us closer to our goal. It is very timely that we celebrate our first trial patient’s success as the world marks the 100th anniversary of the discovery of insulin.”

ABOUT SERNOVA'S CLINICAL TRIAL

Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial to assess the safety and tolerability of islet transplantation into the company's patented Cell Pouch in diabetic subjects with hypoglycemia unawareness. The primary objective of the study is to assess the safety of the Cell Pouch following implantation and islet transplantation. The secondary objective is to assess efficacy through a series of defined measures. Patients enrolled in Sernova's clinical trial prior to receiving the Cell Pouch and islets are incapable of producing C-peptide, a biomarker for insulin produced by islet cells.

Eligible subjects are implanted with Cell Pouches. Following the development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression, and a dose of purified islets, under strict release criteria, is transplanted into the Cell Pouch.

A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision will be made with regards to the transplant of a second islet dose with subsequent safety and efficacy follow-up. Patients will be then further followed for one year to assess longer-term safety and efficacy.

For more information on the clinical trial, please visit www.clinicaltrials.gov/ct2/show/NCT03513939. For more information on enrollment and recruitment details please visit www.pwitkowski.org/sernova.

ABOUT SERNOVA Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Investor Relations

Sernova Corp.

Tel: (519) 858-5126

investorrelations@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events, including results of clinical trials, and are based on information currently available to management on the date such statements were made. It should also be noted that patient views and outcomes within the clinical trial may differ with each patient dependent on multiple factors. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - June 07, 2021 7 June, 2021

Sernova's Principal Investigator Presents Positive New Data from Ongoing Type 1 Diabetes (T1D) Clinical Trial at ATC 2021 Virtual Connect Conference

Multiple patients with sustained clinical benefit, including positive fasting serum C-peptide (a biomarker of insulin produced by Sernova’s Cell Pouch islets) detected in their bloodstream

June 7, 2021 6:00 a.m. EDT

LONDON, ONTARIO – June 7, 2021 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company today announced that its principal investigator, Dr. Piotr Witkowski, presented new preliminary data from Sernova’s ongoing U.S. Phase I/II T1D clinical trial at the University of Chicago. Dr. Witkowski’s presented the data at the American Transplant Congress (ATC) 2021 Virtual Connect conference on Saturday June 5, 2021.

The overall objective of the clinical trial is to assess the safety, tolerability, and efficacy of the Cell Pouch with insulin-producing islets. In addition to other criteria, prior to entry into the study, the patients must demonstrate long-standing T1D with severe hypoglycemic unawareness episodes and no glucose-stimulated C- peptide circulating in their bloodstream.

Dr. Witkowski’s presentation entitled “Islet Allotransplantation Into The Pre-Vascularized Sernova Cell PouchTM Device - Preliminary Results Of The Phase I/II Prospective, Open-Label, Single-Arm Study At University of Chicago” highlighted the following key points:

• 6 patients are implanted with Cell Pouches and continue to meet the study’s primary safety endpoint;

• 5 patients have now been transplanted with at least one dose of therapeutic cells (insulin producing islets) and are in different stages of the clinical trial; and

• most significantly, positive fasting serum C-peptide has been detected in the bloodstream of 4 patients so far. C-peptide is a biomarker for insulin produced by the islets in the Cell Pouch.

In addition to the continued confirmation of ongoing safety and tolerability in all currently enrolled patients, Dr. Witkowski provided further updates on the longest treated study patients. These patients continue to show defined clinical benefit associated with ongoing efficacy indicators including:

• reduction/elimination in the need for daily injectable insulin

• continued improvement, i.e. reduction/elimination, in Severe Hypoglycemic Events (SHE);

• persistent detection of fasting and stimulated C-peptide in patients’ bloodstream;

• reduction in HbA1c; and

• continued improvement of glucose control determined through patient blinded Continuous Glucose Monitoring (CGM) and measured by reduction of Time Above Range (TAR) and increase of Time in Range (TIR).

As previously reported, the most advanced patient in the study, who had achieved a ‘functional cure’ (requiring no injectable insulin) and had been insulin independent for 9 months, has now been insulin independent for 14 months with optimal glucose control.

“I believe Sernova is the first company in the world to demonstrate a subcutaneous vascularized device with therapeutic cells able to produce insulin in the bloodstream across multiple patients with the most severe diabetes. This is a remarkable feat. As the study progresses and our patient dataset continues to build, I am more confident than ever of the potential of Sernova’s regenerative medicine therapeutic platform,” said Dr. Philip Toleikis, President and CEO of Sernova. “Our vision of improving the lives of people suffering from diabetes with a ‘functional cure’ is another step closer to becoming a reality.”

ABOUT SERNOVA

Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Investor Relations

Sernova Corp.

Tel: (519) 858-5126

investorrelations@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events, including results of clinical trials, and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - June 01, 2021 1 June, 2021

Sernova Announces American Transplant Congress 2021Virtual Connect Abstract Presentation

June 1, 2021 7:00 am ET LONDON, ONTARIO – June 1, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that lead principal investigator Dr. Piotr Witkowski and the Clinical Trial Investigator Team for its US Phase I/II Type 1 Diabetes clinical trial will present data and observations from the ongoing study in a presentation at the upcoming American Transplant Congress (ATC) Virtual Connect to be held June 4 - 9, 2021.

The live presentation entitled “Islet Allotransplantation Into the Pre-Vascularized Sernova Cell PouchTM Device - Preliminary Results from University of Chicago” will be available to conference attendees on Saturday, June 5, 2021 at 6:30pm ET.

ABOUT SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans.

ABOUT SERNOVA Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT THE AMERICAN TRANSPLANT CONGRESS The American Transplant Congress (ATC) is the joint annual Congress of the American Society of Transplant Surgeons (ASTS) and the American Society of Transplantation (AST). ATC provides a forum for exchange of new scientific and clinical information relevant to solid organ and tissue transplantation and brings together transplant physicians, scientists, nurses, organ procurement personnel, pharmacists, allied health professionals, and other transplant professionals. The educational offerings provide attendees the opportunity to learn cutting-edge advances in research and promotes the exchange of ideas and practice in the field of solid organ and tissue transplantation. ATC is an annual Congress that welcomes over 5,000 transplant professionals to present cutting-edge science that covers all organ types and offers insight into the future of the field and patient care.

ABOUT ATC 2021 VIRTUAL CONNECT ATC 2021 Virtual Connect, is the ATC’s new, enhanced virtual meeting experience for transplantation professionals taking place June 4-9, 2021. This year’s all-virtual format will feature a robust program of new scientific and clinical information, discussions around care and management, and socioeconomic, ethical, and regulatory issues relevant to organ and tissue transplantation. This year’s program will also feature new COVID-19 content pertinent to the field of transplantation.

FOR FURTHER INFORMATION, PLEASE CONTACT: Investor Relations Sernova Corp. Tel: (519) 858-5126 Investorrelations@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - May 17, 2021 17 May, 2021

Sernova to Present at Global Partnership Family Office – HealthCare & Biotechnology TSX Showcase

May 17, 2021 9:00 AM ET

LONDON, ON – May 17, 2021 -- Sernova Corp. (TSX-V:SVA)(FSE/XETRA:PSH)(OTCQB:SEOVF), a leading clinical-stage company focused on regenerative medicine therapeutics, today announced that Dr. Philip Toleikis, President and CEO, will present at the virtual Global Partnership Family Office – Healthcare & Biotechnology TSX Showcase on May 19th, 2021. The Showcase is hosted by London, UK based International Deal Gateway (IDG).

The event is by invitation only and includes a selected group of inspiring leaders from innovative public companies in the healthcare, biotechnology and life sciences sector. Five leading companies listed on the TSX or TSX Venture have been selected to present live, via video, to GPFO investors.

“Deal Gateway’s exclusive virtual events give innovative leaders the opportunity to introduce their companies to a very hard to reach audience of family offices and access new pools of capital in London, Geneva, Zurich and other key markets,” said Elizabeth Priestman, CEO of IDG.

“Sernova is delighted to have been selected by the TSX to present to this exclusive group of sophisticated investors,” said Dr. Philip Toleikis, President and CEO of Sernova. “This presentation aligns with our goal to increase the percentage of longer-term oriented institutional investors amongst our shareholder base who understand the value of innovative technologies. We look forward to presenting to them and outlining the potential of Sernova’s innovative regenerative medicine platform, including potentially providing a ‘functional cure” for diabetes and other chronic diseases.”

Following the event, a recording will be available at www.sernova.com.

Selected Company Achievements

● Integrated regenerative medicine therapeutic platform solution including an implantable device with local immune protection (Conformal Coating Technology) that could eliminate the need for immunosuppressive medications to protect cells from immune system attack.

● First and only regenerative medicine therapeutics platform company to demonstrate an implantable well- vascularized subcutaneous cell transplant device technology achieving persistent islet graft function and clinical benefit as presented in the most advanced study patients in its ongoing US Phase I/II diabetes clinical trial.

● Demonstrated preclinical proof-of-concept showing improvement in blood clotting with human cells using an ex vivo gene therapy approach for hemophilia A

● Demonstrated preclinical proof-of-concept with transplanted human thyroid tissue for management of hypothyroid disease.

● Multiple research collaborations in place with pharmaceutical industry leaders.

About Global Partnership Family Office (GPFO) and International Deal Gateway (IDG)

International Deal Gateway's Family Office Events provide a unique opportunity for public and private companies to gain access to an exclusive group of 2,400 ultra-high net worth investors and family offices throughout Europe through their long-standing relationship with GPFO. Together, IDG and GPFO look forward to hosting the TSX sponsored Healthcare & Biotechnology Showcase, a collection of extraordinary select companies working to improve health outcomes with a focus on longevity, healthcare, biotechnology and data.

GPFO has been the 'eyes and ears' of the global family office community for over a decade. Providing salient, timely and impartial briefings, insights and opportunities to its membership.

Dr. Michael J. Oliver, GPFO founder, "We have been delighted to grow our partnership with IDG over the years, providing our community with insights from the brightest minds and leaders from across the Atlantic, offering a bridge for many of our network who have deep familial and business ties to Canada and the US."

About Sernova

Sernova is developing regenerative medicine therapeutic technologies using its Cell Pouch medical device, therapeutic cells (i.e., human donor cells, corrected human cells, stem cell-derived cells and tissues) and immune protection technologies to improve the treatment and quality of life of people living with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

CONTACTS:

Sernova Corp

Dominic Gray

Head of Communications

(519) 858-5126

dominic.gray@sernova.com

www.sernova.com

Forward-Looking Information

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials and the potential of local immune protection technologies. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - May 04, 2021 4 May, 2021

Sernova Announces the Nomination of Seasoned Pharma Executive Dr. Mohammad Azab to its Board of Directors

May 4, 2021 9:00 AM ET

LONDON, ONTARIO – May 4, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, today announced that seasoned pharmaceutical industry executive, Dr. Mohammad Azab, MB ChB, MSc, MBA, has been nominated by the Company to its Board of Directors.

“Dr. Azab’s extensive knowledge and experience in the pharmaceutical industry, as well as his many industry connections, make him an excellent fit for the Board of Sernova, particularly as the Company expands its clinical development programs for the treatment of chronic diseases such as diabetes, thyroid and rare diseases,” said Frank Holler, Chairman of the Board of Sernova. “Dr. Azab’s appointment further supports the Company’s near-term goal to bolster its Board of Directors, as well as Scientific Advisory and Global Advisory Boards, in line with our expanding research, development and business activities.”

Dr. Azab served as President and Chief Medical Officer of Astex Pharmaceuticals, Inc., a pharmaceutical company focused on the discovery and development of drugs in oncology and other disease indications. As of November 2020, upon retirement from his management role, Dr. Azab has served as the Chair of the Board of Directors for Astex Pharmaceuticals, Inc, which is now a wholly-owned subsidiary of Otsuka Pharmaceuticals. Previously, Dr. Azab served as President and CEO of Intradigm Corporation, a developer of siRNA cancer therapeutics. Prior to this, Dr. Azab served as Executive Vice President of Research and Development and Chief Medical Officer of QLT Inc., and in several leadership positions at AstraZeneca in the United Kingdom and Sanofi Pharmaceuticals in France. Dr. Azab holds his medical degree (MB ChB) from Cairo University and an MBA from the Richard Ivey School of Business, Western University, Ontario. He received post-graduate training and degrees in oncology research from the University of Paris-Sud and biostatistics from the University of Pierre et Marie Curie in Paris, France.

“I am excited to be nominated to join Sernova’s Board of Directors,” said Dr. Mohammad Azab. “I intend to bring my experience and additional perspectives to support Sernova and its management team as the company progresses it novel regenerative medicine therapeutic programs with the aim to provide a ‘functional cure’ for patients suffering from chronic diseases.”

Dr. Azab has more than 30 years of experience in clinical research, business management and led the global development of several drugs currently approved in oncology and other therapeutic areas. Currently, he also serves on the board of directors of NASDAQ listed companies, Xenon Pharmaceuticals Inc. (XENE), and Durect Corporation (DRRX).

ABOUT SERNOVA

Sernova is developing regenerative medicine therapeutic technologies using its Cell Pouch medical device, therapeutic cells (i.e., human donor cells, corrected human cells, stem cell-derived cells and tissues) and immune protection technologies to improve the treatment and quality of life of people living with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp.

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - April 28, 2021 28 April, 2021

Sernova KOL Event Highlights Novel Cell Therapy Approach for the Potential Treatment of Thyroid Disease

April 28, 2021 9:00 AM ET

LONDON, ONTARIO – April 28, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, announced today the highlights of its first virtual Key Opinion Leader (KOL) event on thyroid disease.

The KOL event featured a presentation by Dr. Sam Wiseman, a leading surgeon and internationally recognized expert in the management of thyroid and parathyroid disease. In his presentation, Dr. Wiseman discussed current treatment options and the potential for a novel cell therapy approach for the treatment of postoperative hypothyroidism using Sernova’s Cell Pouch™. The presentation was followed by a Q&A session with attendees.

“I’m very excited about this program because as surgeons, we will be able to offer our patients a treatment option that could allow for avoidance of postoperative hypothyroidism requiring life-long dependence on thyroid medication,” said Dr. Sam Wiseman. “Our preclinical study evaluating transplantation of human thyroid tissue into Sernova’s Cell Pouch has shown promising results. I believe this very exciting new approach represents a critical step towards an entirely new treatment option for post-thyroidectomy hypothyroidism."

Dr. Wiseman's presentation and the subsequent Q&A session are now available on Sernova's website at www.sernova.com and on Sernova’s social media channels.

ABOUT SERNOVA'S THYROID PROGRAM

Sernova's approach for treating postoperative hypothyroidism is to transplant a portion of the thyroid gland being removed into a pre-implanted vascularized Cell Pouch™ to recover thyroid function. In collaboration with Dr. Wiseman, preclinical proof of concept study conducted under a grant from the British Columbia Transplant Foundation is contributing to advancing Sernova's plans to conduct clinical assessment of this novel approach. Sernova's overall treatment goal is to preserve thyroid function, and improve patient quality of life, relative to current treatments.

Thyroidectomy is commonly performed for management of cancer, and for treatment of benign (non- cancerous) disease that includes nodules, goitre and hyperthyroidism. It is estimated that about 150,000 thyroidectomies are performed in the US annually, with most individuals undergoing thyroid surgery eventually being diagnosed with benign conditions. Patients undergoing total thyroidectomy, and many patients undergoing partial thyroidectomy, require life-long oral postoperative thyroid hormone replacement.

Post-surgical thyroid hormone replacement therapy, if monitored carefully, can be effective; however, some patients may suffer from deleterious side-effects including body weight gain, fatigue, and depression, with a resultant negative impact on quality of life, and significant costs to the healthcare system. We believe Sernova's development of new therapeutic strategies to treat post-surgical hypothyroidism has the potential of addressing an important unmet medical need.

ABOUT SERNOVA

Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells, stem cell-derived cells and tissues) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp.

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova's management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - April 21, 2021 21 April, 2021

Sernova to Host a Virtual Key Opinion Leader Event on Thyroid Disease and the Potential for its Cell Therapy as a Novel Treatment Approach

April 21, 2021 9:00 AM ET

LONDON, ONTARIO – April 21, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, today announced that it will host a virtual Key Opinion Leader (KOL) event on thyroid disease, current treatment options and the potential of a novel cell therapy treatment approach for postoperative hypothyroidism. The event will take place on Tuesday April 27th, 2021, at 1:00 PM ET.

The event will feature a presentation from Dr. Sam Wiseman, a leading academic thyroid/parathyroid surgeon and internationally recognized expert in the management of thyroid and parathyroid disease.

"This KOL event will provide the unique opportunity for our investors to learn about thyroid disease, current treatments, and exciting advancements towards a novel cell therapy treatment approach aimed to provide a functional cure for patients suffering from postoperative hypothyroidism," said Dr. Philip Toleikis, President and CEO of Sernova. "Participants will also be able to enter into a conversation through a Q&A period with Dr. Wiseman, a prominent physician in the management of thyroid disease."

Dr. Wiseman's presentation will be made available on Sernova's website before the call. All questions to Dr. Wiseman, can be submitted to info@sernova.com prior to the call.

To register and access the Zoom link for this event, please click:

https://zoom.us/webinar/register/2016189463384/WN_LF8impNgRzqpbSMeLdeMww

Following the event, a recording will be available at www.sernova.com.

ABOUT SERNOVA'S HYPOTHYROID PROGRAM

Sernova's immediate approach in treating hypothyroid disease is to transplant healthy thyroid tissue following thyroidectomy (removal of the thyroid gland) into the pre-implanted vascularized Cell Pouch to recover the normal function of the thyroid gland. In collaboration with Dr. Wiseman, preclinical proof of concept work conducted under a grant from the British Columbia Transplant Foundation is contributing to advancing Sernova's plans to conduct clinical assessment of the Cell Pouch with transplanted thyroid tissue in patients suffering from hypothyroid disease. Sernova's treatment goal is to preserve thyroid function and improve patient quality of life relative to current treatments.

Thyroidectomy is commonly performed for cancer diagnosis or treatment and for treatment of benign (non- cancerous) disease that includes goiter and hyperthyroidism. It is estimated that about 150,000 thyroidectomies are performed in the US yearly, and the majority of individuals undergoing a thyroid operation are diagnosed with benign diseases after their procedure. Patients with Grave's disease and thyroid nodules undergoing total thyroidectomy, and many patients undergoing partial thyroidectomy require life-long thyroid hormone replacement.

Post-surgical thyroid hormone replacement therapy, if monitored carefully, can be effective; however, patients often suffer from deleterious side-effects including weight gain, depression, headaches, and cardiovascular disease, with resultant negative impact on quality of life, and significant costs to the healthcare system. We believe Sernova's development of new therapeutic strategies to overcome hypothyroidism has the potential to meet an important unmet medical need.

ABOUT SERNOVA

Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp.

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova's management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - April 14, 2021 14 April, 2021

Sernova Appoints Internationally Renowned Thyroid Disease Expert Dr. Sam Wiseman to its Scientific Advisory Board

Sernova Expands Scientific Advisory Board Expertise for its Innovative Cell Therapy Therapeutic Applications in Endocrine Disorders Including Thyroid Disease

April 14, 2021 9:00 a.m. EST

LONDON, ONTARIO – April 14, 2021 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a leading clinical-stage company developing regenerative medicine therapeutic technologies for the long-term treatment of chronic diseases, today announced the appointment of Dr. Sam Wiseman to its Scientific Advisory Board (SAB).

“We are pleased to welcome Dr. Wiseman to Sernova’s Scientific Advisory Board,” said Dr. Philip Toleikis, President & CEO Sernova Corp. “Dr. Wiseman’s internationally recognized leadership in surgical treatment of thyroid and parathyroid disease and his forward-thinking interest in Sernova’s development of novel cell therapy-based applications will be a great asset as we seek to expand the clinical applications of our cell pouch platform.”

“The importance of the thyroid gland in controlling everyday bodily functions is often underappreciated. For people who have their thyroid gland removed, the solution relies on lifelong dependence on medication,” said Dr. Sam Wiseman. “Sernova’s cell therapy approach aims at providing a functional cure and improving the quality of life for these patients by allowing them to reduce or potentially eliminate daily thyroid hormone treatments. I am excited to join Sernova’s Scientific Advisory Board and bring my expertise to support them in the development of novel cell-based approaches for treatment of thyroid disease and potentially other endocrine diseases.”

Dr. Sam Wiseman is an academic thyroid/parathyroid surgeon and internationally recognized expert in the management of thyroid and parathyroid disease. He is Professor of Surgery in the Faculty of Medicine at the University of British Columbia (UBC) and is an attending surgeon at St. Paul’s Hospital in Vancouver. Dr. Wiseman attended medical school and completed residency training in General Surgery, at the University of Manitoba, obtaining a Fellowship in Surgery from the Royal College of Physicians and Surgeons of Canada in 2000. At Roswell Park Cancer Institute, he completed fellowships in Head & Neck Surgery, Surgical Oncology, and Oncology Research. Dr. Wiseman joined the staff at St. Paul's Hospital, and the University of British Columbia in 2003. He is also a Fellow of the American College of Surgeons, and a Consultant Surgical Oncologist at the British Columbia Cancer Agency (BCCA). He currently serves as the Research Head for the Department of Surgery at Providence Health Care and is the Chair of the Endocrine Tumour Group of the BCCA. He has authored more than 150 peer-reviewed scientific publications, numerous book chapters, and served as a senior editor of the medical textbook, Gray’s Surgical Anatomy. Dr. Wiseman’s research has been presented globally and he has received numerous awards and honours throughout his career that include a Michael Smith Foundation for Health Research Scholar Award and Canada’s Top 40 Under 40 Award. He is passionate about education and mentors and supervises many trainees, both clinically and in research. He is committed to providing new therapeutic options and treatment approaches for patients suffering from thyroid/parathyroid diseases with the ultimate goal of improving quality of life for these people.

ABOUT SERNOVA’S THYROID DISEASE PROGRAM

Sernova is utilizing its Cell Pouch Platform as a potential treatment for hypothyroid disease. Our approach is to transplant a patient’s own healthy thyroid tissue following thyroidectomy into the pre-implanted vascularized Cell Pouch to preserve the normal thyroid function and reduce or eliminate the need for lifelong daily thyroid replacement therapy. Sernova plans to conduct clinical assessments of the Cell Pouch with transplanted thyroid tissue in patients suffering from post-surgical hypothyroidism with the aim of preserving thyroid function and improving patient quality of life.

Thyroidectomy is commonly performed for cancer diagnosis or treatment and for treatment of benign (non- cancerous) disease that includes goiter and hyperthyroidism. It is estimated that about 150,000 thyroidectomies are performed in the US yearly. Patients with Grave’s disease and thyroid nodules undergoing total thyroidectomy, and many patients undergoing partial thyroidectomy require life-long thyroid hormone medication. Post-surgical thyroid hormone replacement therapy, if monitored carefully, can be effective; however, patients often suffer from deleterious side-effects including weight gain, depression, headaches, and cardiovascular disease, with resultant negative impact on quality of life, and significant costs to the healthcare system. The development of new therapeutic strategies to overcome hypothyroidism remains an important unmet medical need.

ABOUT SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells, and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, hypothyroidism, hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - April 06, 2021 6 April, 2021

Sernova Announces Presentation at the American Diabetes Association 81st Scientific Sessions

April 6, 2021 9:00 am ET

LONDON, ONTARIO – April 6, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that lead principal investigator Dr. Piotr Witkowski and the Clinical Trial Investigator Team for its US Phase I/II Type 1 Diabetes clinical trial will present data and observations from the ongoing study in a poster presentation at the upcoming American Diabetes Association’s (ADA) 81st Scientific Sessions to be held June 25 - 29, 2021.

The abstract will also be published online at the journal Diabetes® website and the presentation will be available to conference attendees on Friday, June 25, 2021.

Dr. Witkowski, Director, Pancreatic and Islet Transplant Program at the University of Chicago, is also scheduled to deliver a lecture titled “Islet Transplantation – Benefits and Shortcomings”, as part of the Clinical and Regulatory Hurdles Facing Islet Transplantation session on Monday, June 28, 2021, at 8:00 am ET.

Note: all information contained in the submitted abstract should be considered preliminary and subject to change until the study data and observations are fully presented at the ADA 81st Scientific Sessions and is subject to embargo until June 25, 2021, at 11:30 am ET.

ABOUT SERNOVA’S CELL POUCH SYSTEM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans.

ABOUT SERNOVA CORP. Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells ( i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin- dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT THE ADA’s SCIENTIFIC SESSIONS The American Diabetes Association’s (ADA) 81st Scientific Sessions, the world’s largest scientific meeting focused on diabetes research, prevention, and care, will be held virtually June 25-29, 2021. Leading physicians, scientists, and health care professionals from around the world will unveil cutting-edge research, treatment recommendations and advances toward a cure for diabetes. Though the conference will be remote this year, attendees will receive exclusive access to nearly 2,000 original research presentations and take part in provocative and engaging exchanges with leading diabetes experts. Learn more and register at scientificsessions.diabetes.org and join the Scientific Sessions conversation on social media using #ADA2021.

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp. Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and/or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - March 15, 2021 15 March, 2021

Sernova Provides Positive Outlook Regarding the Development of Its Innovative Therapeutics Platform Technology for Chronic Diseases

Sernova is the first and only regenerative medicine therapeutics platform company to demonstrate a well- vascularized subcutaneous islet transplant technology achieving persistent islet graft function in diabetic patients

Sernova CEO hosting an investor conference call on March 18, 2021 at 11:00 am (EDT)

March 15, 2021 9:00 a.m. EDT

LONDON, ONTARIO – March 15, 2021 – Sernova Corp. (TSX-V:SVA) (FSE/XETRA:PSH) (OTCQB:SEOVF), a clinical-stage regenerative medicine company, today provides a Corporate Update and highlights recent key achievements in its pipeline, including its diabetes clinical program as well as other leading development programs.

“I am pleased that our clinical study based on our unique technology platform continues to contribute significant advancements to the field of regenerative medicine therapeutics. This is demonstrated by ongoing positive patient outcomes in safety, tolerability, and efficacy measures as we actively approach completion of full study enrolment. These advancements are occurring despite ongoing global uncertainty related to the COVID-19 pandemic. In this restrictive environment, Sernova also achieved significant advancements in our other therapeutic programs and in the development of technologies that we believe are building significant shareholder value and justified optimism for patients suffering from chronic diseases. As validation of our strategic approach, we are pleased with the recently completed institutional led bought deal financing of $23M. We are aggressively moving forward with all of our programs,” said Dr. Philip Toleikis, President and CEO of Sernova.

DIABETES : SERNOVA’S LEAD CLINICAL INDICATION

Sernova’s principal investigator in its US Phase I/II diabetes clinical trial, Dr. Piotr Witkowski, presented an update at the recent 2021 21st Winter Symposium of the American Society of Transplant Surgeons based on data from its current clinical trial: A Safety, Tolerability and Efficacy -Study of Sernova's Cell Pouch for Clinical Islet Transplantation.

Five of the 7 planned patients have been enrolled, implanted with the Cell Pouch, and are advancing through the transplantation phases of the study.

The following key findings to date have been noted in our trial patients:

• The Primary Safety Endpoint of the study continues to be met:

o the Cell Pouch, following implantation under the skin, shows consistent incorporation with vascularized tissue in multiple patients providing a suitable environment for the survival and function of insulin producing cells; and

o the implanted Cell Pouch and therapeutic cells continue to demonstrate a positive safety profile with no serious adverse events related to the Cell Pouch.

• The Secondary Efficacy measures continue to show clinical benefit in the most advanced treated patients including:

o absence of life-threatening hypoglycemic episodes;

o enduring presence of insulin produced by the Cell Pouch transplanted cells (measured by the biomarker C- peptide) in the bloodstream;

o reduction or elimination in the daily amount of insulin injected; and

o a reduction in HbA1c, a measure of long-term blood sugar control, which can lead to reduced diabetic complications.

Pre-screening of the final two patients is actively underway to complete study enrollment.

HEMOPHILIA A

Sernova as a member of the Horizon 2020 HemAcure Consortium (HemAcure Consortium) presented results of the Consortium’s research at the American Society of Gene and Cell Therapy. Importantly, the following highlights were presented:

• hemophilia A patients unable to express the required clotting factor VIII (FVIII) blood cells were isolated;

• the human FVIII gene responsible for the production of the missing required clotting factor was successfully inserted to achieve a therapeutic effect;

• the safety of these newly corrected cells and their ability to produce sufficient human clotting factor both in laboratory and in an initial preclinical animal model was confirmed.

o human FVIII blood levels reached up to 10%, which is considered sufficient to enable patients to regain their clotting ability;

o these corrected therapeutic cells in the Cell Pouch were successfully assessed in a preclinical model of hemophilia A showing long-term survival of cells;

o human FVIII was also detected in the bloodstream long-term (measured up to four months, the length of the study, following treatment); and

• data further confirmed functional clotting improvement in the blood at the four months time point where human FVIII corrected cells transplanted into the hemophilia A preclinical model restored the animals clotting activity to a therapeutic level within the Cell Pouch.

“These results demonstrate the success in developing a novel approach for the treatment of hemophilia A. These results continue to showcase Sernova’s Cell Pouch platform technologies for the treatment of multiple indications including rare diseases where a gene can be inserted into cells to produce any protein or factor required to treat disease,” added Toleikis. “We look forward to completing work to bring this and other novel therapies to human clinical testing as soon as practicable.”

HYPOTHYROID DISEASE

Sernova is developing a treatment for hypothyroid disease following complete or partial removal of the thyroid gland (thyroidectomy). To advance this platform technology, in collaboration with Dr. Sam Wiseman and in part funded by a Transplant Venture Grant awarded by the Transplant Research Foundation (TRF) of British Columbia, we are assessing healthy human thyroid tissue in preparation of a clinical program.

This new treatment approach allows patients to preserve their thyroid function following a thyroidectomy by transplanting healthy thyroid cells into Sernova’s Cell Pouch. Currently completed pre-clinical work is setting the stage for a regulatory submission for this second clinical program.

PLATFORM EXPANDING TECHNOLOGIES AND CORPORATE COLLABORATIONS

Sernova is acquiring and developing state of the art technologies. These involve both unique cell encapsulating technologies and gene editing technologies to reduce or eliminate the need for immunosuppression medications targeted to our specific cell therapy clinical applications within the Cell Pouch platform.

• Sernova has acquired all the patented technology and knowhow for a cellular local immune protection technology (Conformal Coating Technology)

o an exclusive worldwide license agreement with the University of Miami was signed, broadening this technology scope.

o Sernova intends on bringing the Cell Pouch platform technologies, which includes conformally coated therapeutic cell technology, to the clinic first for our diabetes donor and stem cell programs with the goal to improve current cell therapy treatment options.

• Sernova also entered into a collaboration agreement with AgeX Therapeutics to utilize their UniverCyte™ technology. The objective is to generate transplantable genetically engineered stem cells that are immune protected to treat diseases for use in Sernova’s Cell Pouch.

Sernova is in active collaborations with leading global pharmaceutical companies for multiple cell therapy clinical applications in combination with Sernova’s cell therapy therapeutic platform and technologies. The goal of these collaborations is to initiate co-development and/or licensing agreements, as well as the potential ability to market and distribute our regenerative medicine therapeutics worldwide.

Dr. Toleikis will participate in the first of a series of conference calls for shareholders to provide corporate updates and answer questions at 11:00 am (EDT) on March 18, 2021. A presentation will be made available on Sernova’s website before the call. All questions to Dr. Toleikis can be submitted to info@sernova.com prior to the call. To participate in this live conference call, please visit:

Meeting link: https://sernovacorp.my.webex.com/sernovacorp.my/j.php?MTID=md016888548d385cd4fea3878b73a9b5d Meeting number: 182 490 4245 Password: SVAMarch2021 (78262724 from phones and video systems)

Join by phone +1-416-915-6528 CANADA TOLL +1-415-655-0001 US TOLL Access code: 182 490 4245 (Global call-in numbers available upon request)

Following the conference call a recording will be available at www.sernova.com

ABOUT SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem-cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com

For further information, please contact: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - March 01, 2021 1 March, 2021

SERNOVA ANNOUNCES CLOSING OF C$23 MILLION BOUGHT DEAL FINANCING INCLUDING FULL EXERCISE OF OVER-ALLOTMENT OPTION

LONDON, ONTARIO – March 1, 2021 – Sernova Corp. (“Sernova” or the “Company”) (TSX-V: SVA) (OTCQB: SEOVF) (Frankfurt/Xetra: PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that it has closed its previously announced bought deal financing of 16,700,000 units of the Company (the “Units”) at a price of C$1.20 per Unit (the “Issue Price”), and the exercise in full of the Over-Allotment Option of 2,505,000 Units at the Issue Price, for aggregate gross proceeds to the Company of approximately C$23,046,000 (the “Offering”).

Each Unit is comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share (as “Warrant Share”) at an exercise price of C$1.70 (the “Exercise Price”) until March 1, 2023. The expiry date of the Warrants may be accelerated by the Company if the daily volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the “Exchange”) is greater than C$3.05 for the preceding ten (10) consecutive trading days, at which time the Company may accelerate the expiry date of the Warrants by providing notice to the holders of Warrants or issuing a news release announcing such acceleration, whereupon the Warrants will expire not less than 30 days after the date of such notice or news release.

The Offering was conducted on a “bought deal” basis, led by Canaccord Genuity Corp. and Leede Jones Gable Inc. as co-lead underwriters (together, the “Underwriters). As consideration for their services in connection with the Offering, the Company paid to the Underwriters: (i) a cash commission of $1,452,981; (ii) a corporate finance fee of 384,100 Units; and (iii) 1,210,818 compensation options (the “Compensation Options”), where each Compensation Option entitles the holder thereof to purchase one Unit (a “Compensation Unit”) at the Issue Price until March 1, 2023. Each Compensation Unit is comprised of one Share and one Warrant exercisable into a Warrant Share at the Exercise Price.

The net proceeds of the Offering will be used to advance the Company’s clinical development programs, including its US Phase I/II Cell Pouch clinical trial in insulin-dependent diabetes, expand the Company’s research and development programs, including its local immune protection technologies for the Cell Pouch, as well as for working capital and general corporate purposes.

The Offering was completed (i) by way of a short form prospectus filed in each of the provinces of Canada, other than Quebec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions, (ii) on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and applicable U.S. state securities laws, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities under domestic or foreign securities laws. The securities referred to in this press release have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Sernova Corp.

Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells, and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin- dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp

T: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sernova’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the intended use of proceeds by the Company. Forward-looking information is based on reasonable assumptions that have been made by Sernova at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Examples of such risk factors include: credit; market (including equity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful development of its product candidates, and strategic plans and to attract, develop and retain key executives; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations governing the Company’s business; dependence on key suppliers; granting of permits and licenses; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, nonessential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; as well as those risk factors disclosed under the heading “Risk Factors” in the Company’s Annual Information Form (dated February 8, 2021) for the year ended October 31, 2020, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Sernova is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein.

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Press Release Communiqué de presse - February 25, 2021 25 February, 2021

Sernova Corp. Selected for the TSX Venture Stock Exchange’s 2021 Venture 50 List of Top Performing Listed Companies

February 25, 2021 9:00 a.m. EST

LONDON, ONTARIO - February 25, 2021 - Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (Frankfurt/Xetra:PSH), a clinical-stage company and leader in regenerative medicine therapeutics is pleased to announce that the TSX Venture Stock Exchange (TSX Venture) has recognized Sernova as a 2021 Venture 50 company, showcasing the top 50 performing listed companies.

“We are honoured to be chosen for the 2021 Venture 50 list and to be included amongst this distinguished group of industry leaders. We share this honour with our institutional and retail investors who are supporting our continued success and growth,” said Dr. Philip Toleikis, President and CEO of Sernova Corp. “This recognition is another validation of Sernova’s ongoing therapeutic advancements and builds upon what will be another very strong year as we continue to grow the company and build further shareholder value.”

The Venture 50 are the top ten companies listed on TSX Venture Exchange in each of five major industry sectors – mining, energy & energy services, clean technology & life sciences, diversified industries and technology – based on a ranking formula with equal weighting given to market cap growth, trading volume amount and share price appreciation. All data was as of December 31, 2020.

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch system including the Cell Pouch, which is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells which then release proteins and hormones as required to treat disease. The Cell Pouch along with therapeutic cells has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans. In early assessments of its ongoing Phase I/II clinical trial, Sernova has shown presence of blood levels of c-peptide both during glucose tolerance tests as well as under fasting conditions. Clinical testing is ongoing at the University of Chicago.

ABOUT SERNOVA CORP

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin- dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - February 24, 2021 24 February, 2021

Sernova Obtains Final Prospectus Receipt for $20 Million Bought Deal

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

LONDON, ONTARIO – February 24, 2021 – Sernova Corp. ("Sernova" or the "Company") (TSX-V: SVA) (OTCQB: SEOVF) (Frankfurt/Xetra:PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce it has received a receipt for its final short form prospectus dated February 24, 2021 (the "Final Prospectus") in connection with its previously announced bought deal offering of 16,700,000 units of the Company (the "Units") at a price of C$1.20 per Unit for gross proceeds of approximately C$20,040,000 (the "Offering"). Canaccord Genuity Corp. and Leede Jones Gable Inc. are the co-lead underwriters (together, the "Underwriters") of the Offering.

The Company expects to close the Offering on or around March 1, 2021.

The Company has granted the Underwriters an option, exercisable in part or in whole at the Underwriter's sole discretion, at any time until 30 days following closing, to purchase up to that number of additional Units equal to 15% of the aggregate number of Units sold in the Offering.

The Final Prospectus was filed with the securities regulatory authorities in all provinces of Canada, except Quebec, and is available under the Company's SEDAR profile at www.sedar.com.

The securities referred to in this press release have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Sernova Corp.

Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells, and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sernova's current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Offering, including the timing and ability of the Company to close the Offering, receipt of all regulatory and stock exchange approvals, the intended use of proceeds by the Company and the exercise of the Over-allotment Option by the Underwriters. Forward-looking information is based on reasonable assumptions that have been made by Sernova at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Examples of such risk factors include: the inability of the Company to close the Offering or to obtain all necessary Exchange and regulatory approvals; credit; market (including equity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful development of its product candidates, and strategic plans and to attract, develop and retain key executives; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations governing the Company’s business; dependence on key suppliers; granting of permits and licenses; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, nonessential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; as well as those risk factors disclosed under the heading “Risk and Uncertainties” in the Company’s annual MD&A (dated February 1, 2021) for the years ended October 31, 2020 and 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Sernova is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein.

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Press Release Communiqué de presse - February 18, 2021 18 February, 2021

Sernova Announces Second Annual Data Safety Monitoring Board Review of its Diabetes Cell Pouch System™ Clinical Trial and Recommendation for Protocol Continuation

Ongoing Safety of Sernova's Clinical Trial Confirmed

February 18, 2021 9:00 a.m. EST

LONDON, ONTARIO – February 18, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage company and leader in regenerative medicine therapeutics, is pleased to announce that the clinical trial independent Data Safety Monitoring Board ("DSMB") has completed the second planned annual review of the ongoing Safety, Tolerability and Efficacy Study of Sernova's Cell Pouch™ for Clinical Islet Transplantation Phase I/II clinical trial in patients with severe hypoglycemia unawareness and inability to produce their own insulin. The DSMB recommended that the Phase I/II clinical study should continue according to the study protocol and any related amendments. In their assessment, the DSMB did not raise any concerns regarding patient safety.

"We are pleased with the second annual independent DSMB review of our Phase I/II clinical trial," said Dr. Philip Toleikis, President & CEO Sernova Corp. "We thank the DSMB for its diligence, guidance and support as Sernova continues progressing the clinical trial."

The DSMB is an independent group of clinical research experts who review the accumulated data to permit a thorough evaluation of patient safety and to ensure the integrity of the study's data and progress towards completion.

ABOUT SERNOVA'S CLINICAL TRIAL

Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial to assess the safety and tolerability of islet transplantation into the company's patented Cell Pouch in diabetic subjects with hypoglycemia unawareness and an inability to produce their own insulin. The secondary objective is to assess efficacy through a series of defined measures. Eligible subjects are implanted with Cell Pouches. Following development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression and a dose of purified islets, under strict release criteria, transplanted into the Cell Pouch. A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision will be made with regards to the transplant of a second islet dose with subsequent safety and efficacy follow-up. Following this period, eligible patients may be administered a single dose of islets through the portal vein. Patients will be then further followed for one year to assess longer-term safety and efficacy. This study is supported in part by funding from JDRF, the leading global organization funding type 1 diabetes (T1D) research.

For more information on this clinical trial, please visit www.clinicaltrials.gov/ct2/show/NCT03513939. For more information on enrollment and recruitment details, please visit www.pwitkowski.org/sernova.

ABOUT SERNOVA'S CELL POUCH SYSTEM

The Cell Pouch system including the Cell Pouch, which is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long- term survival and function of therapeutic cells. The device is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells which then release proteins and hormones as required to treat disease. The Cell Pouch along with therapeutic cells has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin- producing cells in humans. In early assessments of its ongoing Phase I/II clinical trial, Sernova has shown presence of blood levels of c-peptide both during glucose tolerance tests as well as under fasting conditions. Clinical testing is ongoing at the University of Chicago.

ABOUT SERNOVA CORP

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova's management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - February 04, 2021 4 February, 2021

Sernova Shares Accepted for Trading on the Electronic Trading Platform Xetra in Germany

February 4, 2021 9:00 a.m. EST

LONDON, ONTARIO – February 4, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce the start of trading of Sernova shares on Xetra, the electronic trading system of Deutsche Börse AG in Germany (German Securities Identification Number (WKN): A0LBCR, International Securities Identification Number (ISIN): CA81732W1041, German Ticker-Symbol: PSH).

Xetra is an electronic trading platform operated by the Frankfurt Stock Exchange. It offers trading in stocks, funds, bonds, warrants, and commodities contracts. Launched in 1997, the majority of stock market transactions in Germany are through the Xetra trading venue: approximately 90 percent of all trading in shares across all German exchanges is now conducted through Xetra making it the largest of Germany’s stock exchanges. Over 200 trading participants from 16 European countries, United Arab Emirates and Hong Kong are connected via Xetra servers.

Xetra is the first and primary choice for institutional investors with its significantly higher liquidity and narrower price spreads. Given the high turnover (liquidity) on the Xetra trading venue, orders for securities are executed swiftly and at prices in line with the market. Moreover, this principle is supported by Designated Sponsors who post binding purchase and selling prices (quotes) continuously and thus ensure additional liquidity and fair prices, making it the first choice for institutional investors. mwb Wertpapierhandelsbank AG will act as Designated Sponsor (active market maker) to handle the trading of Sernova’s shares on Xetra with immediate effect and therefore contribute to increased trading liquidity.

mwb fairtrade Wertpapierhandelsbank AG (www.mwbfairtrade.com) is a securities service provider licensed by the German Federal Financial Supervisory Authority (BaFin) with branches near Munich, Hamburg, Hanover, Frankfurt as well as Berlin. Founded in 1993 and active in two business divisions: Securities Trading and Corporates & Markets, mwb manages approximately 40,000 order books for German and international securities as well as 89 Designated Sponsors mandates making mwb one of the largest order book managers in Germany.

“mwb has developed in-depth knowledge on enabling Xetra trading for overseas companies. We are happy to support Sernova with the rollout of their exciting equity story and look forward to enhance Euro-based trading possibilities for their institutional and retail investor base in Europe,” said Sascha Guenon, Head of Designated Sponsoring and Corporate Broking at mwb.

“We are experiencing a significant increase of interest from institutional investors in Europe, especially in German-speaking countries, and want to provide them with a more efficient way to trade our shares," commented Dr. Philip Toleikis, President and CEO of Sernova. "This is an important step to increase the percentage of long-term oriented institutional investors within our group of shareholders who understand the potential of our innovative platform technologies in the regenerative medicine field as well as the valuation gap with our competitors. mwb has a strong network of biotech investors and we are looking forward to presenting the potential of Sernova’s regenerative medicine platform to them.”

ABOUT SERNOVA

Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin- dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - February 04, 2021 4 February, 2021

Sernova Upsizes Previously Announced Bought Deal Public Offering to C$20 Million

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES LONDON, ONTARIO – February 4, 2021 – Sernova Corp. (“Sernova” or the “Company”) (TSX-V: SVA) (OTCQB: SEOVF)(FSE: PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that it has entered into an amendment (the “Amendment”) to its previously announced agreement with Canaccord Genuity Corp. and Leede Jones Gable Inc., as co-lead underwriters (together, the “Underwriters”), pursuant to which the Underwriters have agreed to increase the size of the previously announced bought deal financing. Pursuant to the Amendment, the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 16,700,000 units of the Company (the “Units”) at a price of C$1.20 per Unit for gross proceeds to the Company of approximately C$20,040,000 (the “Offering”).

The Company has granted the Underwriters an option (the “Over-allotment Option”), exercisable in part or in whole at the Underwriters’ discretion, at any time until thirty (30) days following the Closing Date, to purchase up to the number of additional Units equal to 15% of the aggregate number of Units sold in the Offering to cover over-allotments, if any.

All other terms of the Offering remain consistent with the Company’s previous announcement on February 3, 2021.

The net proceeds of the Offering will be used to advance the Company’s clinical development program, including its US Phase I/II Cell Pouch clinical trial, expand Sernova’s research and development programs, including our local immune protection technologies for the Cell Pouch, as well as for working capital and general corporate purposes.

The Offering will be completed (i) by way of a short form prospectus to be filed in those provinces of Canada other than Quebec as the Underwriters and the Company may designate pursuant to National Instrument 44- 101 – Short Form Prospectus Distributions, (ii) on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and applicable U.S. state securities laws, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities under domestic or foreign securities laws.

The Offering is expected to close on February 24, 2021 and is subject to certain customary conditions including the approval of the TSX Venture Exchange and applicable securities regulatory authorities.

The securities referred to in this press release have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Sernova Corp.

Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells, and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp

T: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sernova’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Offering, including the timing and ability of the Company to close the Offering, receipt of all regulatory and stock exchange approvals, the intended use of proceeds by the Company and the exercise of the Over-allotment Option by the Underwriters. Forward-looking information is based on reasonable assumptions that have been made by Sernova at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Examples of such risk factors include: the inability of the Company to close the Offering or to obtain all necessary Exchange and regulatory approvals; credit; market (including equity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful development of its product candidates, and strategic plans and to attract, develop and retain key executives; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations governing the Company’s business; dependence on key suppliers; granting of permits and licenses; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, nonessential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; as well as those risk factors disclosed under the heading “Risk and Uncertainties” in the Company’s annual MD&A (dated February 1, 2021) for the years ended October 31, 2020 and 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Sernova is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein.

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Press Release Communiqué de presse - February 03, 2021 3 February, 2021

Sernova’s Collaborator to Present Cell Pouch™ Thyroid Transplant Study Results at the American Association of Endocrine Surgeons 2021 Annual Meeting

February 3, 2021 - 9:00 a.m. EST

LONDON, ONTARIO – February 3, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that Dr. Sam Wiseman, BSc, MD, FRCSC, FACS of the University of British Columbia and co-investigator of Sernova’s Cell Pouch Hypothyroid treatment program will present preclinical data in an oral presentation at the American Association of Endocrine Surgeons (AAES) 2021 Annual Meeting taking place April 25-27, 2021. Dr. Sam Wiseman, Professor, Richard J. Finley Scholar, and Director of Research at the Department of Surgery of Providence Health Care also serves as Chair of the Endocrine Tumor Group for the Surgical Oncology Network in Vancouver British Columbia.

Dr. Wiseman’s abstract was selected amongst over 140 abstracts for an Oral Podium Presentation and a resulting journal article will be peer-reviewed for publication consideration in the journal Surgery.

For more information on the American Association of Endocrine Surgeons and the 41st Annual Meeting, visit https://meeting.endocrinesurgery.org/.

ABOUT SERNOVA’S HYPOTHYROID PROGRAM

Sernova’s initial approach in treating hypothyroid disease is to transplant a patient’s own healthy thyroid tissue following thyroidectomy into the pre-implanted vascularized Cell Pouch to recover the normal function of the thyroid gland. In collaboration with Dr. Wiseman, preclinical proof of concept work is being conducted under a grant from the British Columbia Transplant Foundation. Following successful completion of preclinical studies, Sernova plans to conduct clinical assessments of the Cell Pouch with transplanted thyroid tissue in patients suffering from hypothyroid disease with the aim to preserve thyroid function and improve patient quality of life.

Thyroidectomy is commonly performed for cancer diagnosis or treatment and for treatment of benign (non- cancerous) disease that includes goiter and hyperthyroidism. It is estimated that about 150,000 thyroidectomies are performed in the US yearly, and the majority of individuals undergoing a thyroid operation are diagnosed with benign diseases after their procedure. Patients with Grave’s disease and thyroid nodules undergoing total thyroidectomy, and many patients undergoing partial thyroidectomy require life-long thyroid hormone medication. Post-surgical thyroid hormone replacement therapy, if monitored carefully, can be effective; however, patients often suffer from deleterious side-effects including weight gain, depression, headaches, and cardiovascular disease, with resultant negative impact on quality of life, and significant costs to the healthcare system. The development of new therapeutic strategies to overcome hypothyroidism remains an important unmet medical need.

ABOUT SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells, and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, hypothyroidism, hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

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Press Release Communiqué de presse - February 03, 2021 3 February, 2021

Sernova Corp. Announces C$10 Million Bought Deal Offering of Units

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

LONDON, ONTARIO – February 3, 2021 – Sernova Corp. (“Sernova” or the “Company”) (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and Leede Jones Gable Inc., as the co-lead underwriters (together, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 8,350,000 units of the Company (the “Units”) at a price of C$1.20 per Unit (the “Issue Price”) for gross proceeds to the Company of approximately C$10,020,000 (the “Offering”).

Each Unit will consist of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $1.70 (the “Exercise Price”) at any time up to 24 months following Closing Date (as defined below). The expiry date of the Warrants may be accelerated by the Company at any time if the volume weighted average price of the Common Shares on the TSX Venture Exchange (the “Exchange”) is greater than $3.05 for any ten (10) consecutive trading days, at which time the Company may accelerate the expiry date of the Warrants by providing notice to holders of Warrants, whereupon the Warrants will expire not less than 30 days after the date of such notice.

The Company has granted the Underwriters an option (the “Over-Allotment Option”), exercisable in part or in whole at the Underwriters’ discretion, at any time until thirty (30) days following the Closing Date, to purchase up to the number of additional Units equal to 15% of the aggregate number of Units sold in the Offering to cover over-allotments, if any.

The Offering will be completed (i) by way of a short form prospectus to be filed in those provinces of Canada other than Quebec as the Underwriters and the Company may designate pursuant to National Instrument 44- 101 – Short Form Prospectus Distributions, (ii) on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and applicable U.S. state securities laws, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities under domestic or foreign securities laws.

The net proceeds of the Offering will be used to advance the Company’s clinical development program, including its US Phase I/II Cell Pouch clinical trial, expand Sernova’s research and development programs, including our local immune protection technologies for the Cell Pouch, as well as for working capital and general corporate purposes.

The Underwriters shall be paid (i) a commission (the “Cash Commission”) equal to 6.5% of the aggregate gross proceeds of the Offering payable in cash or Units, or any combination thereof, at the option of the Underwriters and (ii) warrants (the “Underwriters’ Warrants”) exercisable at any time up to 24 months following Closing Date to acquire the number of Units equal to 6.5% of the aggregate number of Units issued pursuant to the Offering, at an exercise price equal to the Issue Price, other than up to C$500,000 of Units subscribed for by investors introduced to the Offering by the Company, in which case both the Cash Commission and the Underwriters’ Warrants will be reduced to 2.0%. Additionally, the Company shall pay the Underwriter’s a corporate finance fee payable in Units equal to 2.0% of the aggregate number of Units issued pursuant to the Offering.

The closing of the Offering is expected to occur on or about February 24, 2021 (the “Closing Date”) and is subject to the Company receiving all necessary regulatory approvals, including the approval of the Exchange.

The securities referred to in this press release have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Sernova Corp.

Sernova is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells, and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp

T: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sernova’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Offering, including the timing and ability of the Company to close the Offering, receipt of all regulatory and stock exchange approvals, the exercise of various convertible securities and the intended use of proceeds by the Company. Forward-looking information is based on reasonable assumptions that have been made by Sernova at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Examples of such risk factors include: the inability of the Company to close the Offering or to obtain all necessary Exchange and regulatory approvals; credit; market (including equity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful development of its product candidates, and strategic plans and to attract, develop and retain key executives; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations governing the Company’s business; dependence on key suppliers; granting of permits and licenses; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, nonessential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; as well as those risk factors disclosed under the heading “Risk and Uncertainties” in the Company’s annual MD&A (dated February 1, 2021) for the years ended October 31, 2020 and 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Sernova is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein.

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Press Release Communiqué de presse - January 28, 2021 28 January, 2021

Sernova Announces Collaboration Agreements with Multiple Pharmaceutical Industry Leaders

Sernova’s Cell Pouch platform and cell therapy expertise being used in multiple collaborations with global pharmaceutical companies

January 28, 2021 8:05 a.m. EST

LONDON, ONTARIO – January 28, 2021 – Sernova Corp. (TSX-V: SVA)(OTCQB: SEOVF)(FSE: PSH), a leading clinical-stage regenerative medicine therapeutics company, announced today that it has entered into multiple research collaboration agreements with global pharmaceutical companies.

Sernova is deploying its in-house cell therapy expertise and patent-protected Cell Pouch technologies in combination with proprietary therapeutic cell assets designated by the pharmaceutical collaborators. Further details of these agreements will be kept confidential for strategic reasons. The collaborators have requested anonymity.

“The research collaborations follow the ongoing clinical success of Sernova’s Cell Pouch technologies in diabetes, and reflect the value and evolving recognition of our technologies and cell therapy platform,” said Dr. Philip Toleikis, President and CEO of Sernova Corp. “These important partnerships with leaders in the pharma industry build upon Sernova’s business strategy to develop a portfolio of products to realize the full potential of Sernova’s regenerative medicine platform by extending and broadening its application to new therapeutic areas and modalities. Sernova’s goal is to provide people with a functional cure for multiple chronic and rare diseases.”

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago.

ABOUT SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin- dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp.

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and/or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward- looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - January 25, 2021 25 January, 2021

Sernova Announces Warrants Exercise for Proceeds of $4.3 Million and Early Conversion of Debenture

LONDON, ONTARIO – January 25, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a leading clinical-stage regenerative medicine therapeutics company is pleased to announce that in recent weeks it has received gross proceeds of $4.3 million pursuant to the exercise of more than 14 million warrants. Sernova intends to use the proceeds of the warrants exercised to support the Company’s clinical diabetes programs including its US Phase I/II diabetes clinical trial, diabetes stem cell-derived technologies and to also accelerate treatments for hypothyroid disease and hemophilia A.

The exercised warrants were originally issued in connection to public offerings of units completed by Sernova in July 2018 and September 2019. In October 2020, the 2018 warrants were subsequently extended by the Company to February 2021.

Sernova also announces the early conversion by the holder of its outstanding $1 million convertible debenture, due December 2022, into equity of the Company. The conversion will save the Company almost two years of interest costs.

“I am extremely pleased to see these warrants being exercised and the continued support from our shareholders," commented Dr. Philip Toleikis, President and CEO of Sernova Corp. "The early conversion of the debenture coupled with the warrants proceeds strengthens our balance sheet and cash position as we continue our ongoing efforts to create shareholder value."

Warrants holders interested in exercising their warrants may contact the Company (see the contact information provided below). The terms and conditions of the warrants are set out in the warrants certificate.

ABOUT SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem cell-derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - January 21, 2021 21 January, 2021

Sernova CEO to Present Regenerative Medicine Therapeutics Platform Update at the 2021 Cell & Gene Meeting on the Med

January 21, 2021 9:00 a.m. EST

LONDON, ONTARIO – January 21, 2021 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical- stage regenerative medicine company announced today that Dr. Philip Toleikis, President and CEO has been invited to participate at the Cell & Gene Virtual Meeting on the Med, and available on-demand to attendees beginning Thursday, April 6 to 9. Dr. Toleikis will deliver a corporate update on Sernova’s regenerative medicine therapeutics platform including our US clinical cell therapy diabetes program as part of the 2021 Company Presentations at the Cell & Gene Meeting on the Med.

Sernova’s Corporate Update presentation will be available on-demand to attendees of the Virtual Cell & Gene Meeting on the Med throughout the conference. For more details on Sernova’s presentation, please visit www.meetingonthemed.com.

ABOUT SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic solutions using a medical device (Cell Pouch™) and immune protected therapeutic cells/tissues (i.e., human donor cells, corrected human cells and stem cell- derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through cellular production of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

ABOUT SERNOVA’S CELL POUCH™ SYSTEM

The Cell Pouch™, as part of the Cell Pouch™ System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease. The Cell Pouch™, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp.

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the Company. Wherever possible, but not always, words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential for" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the Company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the Company’s Cell Pouch System and/or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the Company’s quarterly and annual filings available on www.sedar.com for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Press Release Communiqué de presse - January 15, 2021 15 January, 2021

Sernova Principal Investigator Presents Additional Positive Preliminary Safety and Efficacy Data from Ongoing U.S. Phase I/II Cell Pouch Clinical Trial for Type-1 Diabetes

Sernova’s Cell Pouch System shows sustained clinical benefit in study patients with type 1 diabetes through multiple efficacy indicators and ongoing safety and tolerability

January 15, 2021 2:05 p.m. EST

LONDON, ONTARIO – January 15, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a leading clinical-stage regenerative medicine therapeutics company today announced that its principal clinical investigator, Dr. Piotr Witkowski, presented additional positive preliminary safety and efficacy data at the 2021 American Society of Transplant Surgeons Winter Symposium. Sernova’s Cell Pouch™ transplanted with insulin producing cells in patients with type 1 diabetes continues to show persistent islet function and clinically meaningful improvement in measures of glucose control.

Dr. Witkowski highlighted the following key points in his presentation:

• 5 of 7 patients are currently enrolled in the study.

o 5 of 7 patients have been implanted with the Cell Pouch

o 3 of 7 patients have received their first/one islet transplant

o 2 of 7 patients have received their first and second islet transplant

o The remaining 2 patients are actively being pre-screened to complete trial enrolment

The overall objective of the study is to assess the safety, tolerability, and efficacy of the Cell Pouch with insulin- producing islets. In addition to other criteria, prior to entry into the study, the patients must demonstrate long- standing type 1 diabetes with severe hypoglycemic unawareness episodes and no glucose-stimulated C-peptide circulating in their bloodstream.

In his presentation, aside from confirming ongoing safety and tolerability in all currently enrolled patients, Dr. Witkowski focused on the first transplanted patients who are furthest in the study and who have received a second islet transplant. Importantly, these patients are showing defined clinical benefit with a clinically meaningful reduction in daily injectable insulin requirement, along with the following additional ongoing efficacy indicators:

• Absence of life threatening severe hypoglycemic events;

• Sustained blood levels of C-peptide (a biomarker for insulin produced by cells in the Cell Pouch);

• Reduction in HbA1c (a measure of long-term glucose control); and,

• Improvement in overall Continuous Glucose Monitoring (CGM) measured glucose control parameters (e.g., blood glucose ‘Time in Range’).

With the positive clinical benefit achieved in patients with Cell Pouch islets, one patient was later provided a single infusion of islets (portal vein). This top-up to the islets already received in the Cell Pouch contributed to this patient achieving and sustaining insulin independence. This patient has now been insulin free (requiring no injectable insulin) for nine months with optimal glucose control.

“I am pleased with the invitation to present additional positive preliminary clinical trial results to my esteemed peers at the 2021 ASTS meeting,” said Dr. Witkowski. “While we continue to validate the therapeutic potential of Sernova’s Cell Pouch with islets for type 1 diabetes, we also continue to optimize conditions within the designed clinical protocol towards a therapy to provide to diabetic patients, as we observe ongoing safety and efficacy measures in our trial patients. I am excited to be part of this evolution in patient treatment as we advance the Cell Pouch cell therapy approach towards a functional cure for diabetes.”

ABOUT SERNOVA’S CLINICAL TRIAL

Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial, to assess the safety and tolerability of islet transplantation into the company’s patented Cell Pouch in diabetic subjects with hypoglycemia unawareness and an inability to produce their own insulin. The secondary objective is to assess efficacy through a series of defined measures.

Eligible subjects are implanted with Cell Pouches. Following development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression and a dose of purified islets, under strict release criteria, transplanted into the Cell Pouch.

A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision will be made with regards to the transplant of a second islet dose with subsequent safety and efficacy follow up. Following this period, eligible patients may be administered a single dose of islets through the portal vein. Patients will be then further followed for one year to assess longer-term safety and efficacy.

This study is supported in part by funding from JDRF, the leading global organization funding type 1 diabetes (T1D) research.

For more information on this clinical trial, please visit www.clinicaltrials.gov/ct2/show/NCT03513939. For more information on enrollment and recruitment details please visit www.pwitkowski.org/sernova.

ABOUT SERNOVA CORP.

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e. human donor cells, corrected human cells and stem-cell derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Sernova’s management on the date such statements were made, which include our beliefs about the conduct and outcome of clinical trials. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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2021 Press Releases Communiqués de presse

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Press Release Communiqué de presse - June 27, 2021 27 June, 2021

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Press Release Communiqué de presse - May 17, 2021 17 May, 2021

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Sernova Announces the Nomination of Seasoned Pharma Executive Dr. Mohammad Azab to its Board of Directors

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Sernova Appoints Internationally Renowned Thyroid Disease Expert Dr. Sam Wiseman to its Scientific Advisory Board

Press Release Communiqué de presse - April 06, 2021 6 April, 2021

Sernova Announces Presentation at the American Diabetes Association 81st Scientific Sessions

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Sernova Provides Positive Outlook Regarding the Development of Its Innovative Therapeutics Platform Technology for Chronic Diseases

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Press Release Communiqué de presse - February 25, 2021 25 February, 2021

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Press Release Communiqué de presse - February 24, 2021 24 February, 2021

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Press Release Communiqué de presse - February 18, 2021 18 February, 2021

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Press Release Communiqué de presse - January 15, 2021 15 January, 2021

Sernova Principal Investigator Presents Additional Positive Preliminary Safety and Efficacy Data from Ongoing U.S. Phase I/II Cell Pouch Clinical Trial for Type-1 Diabetes

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