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Press Release Communiqué de presse - September 14, 2023 14 September, 2023

Sernova Investor Conference Call Previously Scheduled for September 15 Now Rescheduled for September 22

LONDON, Ontario; WINDHAM COUNTY, Connecticut – September 14, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, today announced it has rescheduled the investor and analyst conference call previously scheduled for September 15 at 10 a.m. Eastern Time. The call will now occur on September 22 at 10 a.m. Eastern Time. The business strategy and update call remains as scheduled for October 5, 2023.

This call will introduce the newly appointed CEO, Cynthia Pussinen, as well as the recently appointed Chief Business Officer, Dr. Modestus Obochi, Ph.D., MBA, and will discuss the overall vision of both executives to deliver novel medical therapies to patients.

CEO Introduction: Date: Friday, September 22, 2023 Time: 10:00 a.m. Eastern Time Dial-In: 1-877-704-4453 Conference ID: 13741199 Webcast Link: https://viavid.webcasts.com/starthere.jsp?ei=1634340&tp_key=29a41cab17

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

Media: Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com Tel: 619-723-4326

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.

Press Release Communiqué de presse - September 13, 2023 13 September, 2023

Sernova to Host Investor Calls to Introduce Newly Appointed CEO and Provide Business Update

- Introduction of New CEO Cynthia Pussinen and Recently Appointed Chief Business Officer, Dr. Modestus Obochi, on September 15, 2023 -

- Business Update, Strategy & Outlook Call on October 5, 2023 -

LONDON, Ontario; WINDHAM COUNTY, Connecticut – September 13, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, today announced it will host two investor and analyst conference calls, with corresponding live webcasts.

The first of these two events will introduce the newly appointed CEO, Cynthia Pussinen, as well as the recently appointed Chief Business Officer, Dr. Modestus Obochi, Ph.D., MBA, and will discuss the overall vision of both executives to deliver novel medical therapies to patients. The second in this series of calls is intended to provide an overall business update and discuss the strategy and operating plans going forward. Details of each event are as follows:

CEO Introduction: Date: Friday, September 15, 2023 Time: 10:00 a.m. Eastern Time. Dial-In: 1-877-704-4453 Conference ID: 13741199 Webcast Link: https://viavid.webcasts.com/starthere.jsp?ei=1634340&tp_key=29a41cab17

Business Update: Date: Thursday, October 5, 2023 Time: 10:00 a.m. Eastern Time. Dial-In: 1-877-704-4453 Conference ID: 13741177 Webcast Link: https://viavid.webcasts.com/starthere.jsp?ei=1634043&tp_key=195a900d23

The October 5 event will conclude with a question-and-answer component, and investors can also email questions in advance to info@sernova.com. The company will answer as many questions as allowable within the given time constraints. Subsequently, replays of each event will be available on the events section of the Company’s website at www.sernova.com.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

Investors: Corey Davis, Ph.D. LifeSci Advisors, LLC cdavis@lifesciadvisors.com Tel: 212-915-2577 Media: Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com Tel: 619-723-4326

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.

Press Release Communiqué de presse - September 07, 2023 7 September, 2023

Sernova Provides Development Update on Proprietary Cellular Conformal Coating Technology in Combination with Cell Pouch Device

Dr. Alice Tomei of the University of Miami, Miller School of Medicine, to present updates in podium presentation at the 2023 IPITA-IXA-CTRMS Joint Congress being held in San Diego from October 26-29

LONDON, Ontario; WINDHAM COUNTY, Connecticut – September 7, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, today provided a development update on its exclusively licensed, proprietary conformal coating immune protection technology, being advanced in combination with the Cell Pouch™ through a collaboration with Dr. Alice Tomei at the University of Miami, Miller School of Medicine. The goal of the technology is to eliminate the need for long- term use of conventional immunosuppressive medications currently required to prevent graft rejection with Sernova’s flagship cell therapy program for treatment of type 1 diabetes (T1D).

“One of the biggest challenges in bringing a ‘functional cure’ to people living with T1D is preventing therapeutic cell transplantation from eliciting an immune response without the need for conventional life-long immunosuppressive agents,” said Dr. Philip Toleikis, Chief Technology Officer of Sernova Corp. “Our conformal coating technology closely surrounds insulin-producing islets without altering the genetic makeup or function, offering potential protection from the human immune system while maintaining normal cell function. We are encouraged by both our ongoing preclinical results, and our continued progress with manufacturing scale-up of conformally coated islets, which is a key hurdle prior to initiation of clinical studies.”

The conformal coating technology has been developed in partnership with Dr. Alice Tomei, Miami Engineering Career Development Associate Professor of Biomedical Engineering at the University of Miami and director of the Islet Immunoengineering Lab at the Miller School of Medicine Diabetes Research Institute. Dr. Tomei will provide a detailed update of the technology in a podium presentation at the 2023 IPITA-IXA-CTRMS Joint Congress being held in San Diego from October 26-29. Presentation details will be shared in October 2023.

Dr. Tomei added, “I am pleased with the technical advancements we have made in collaboration with the Sernova scientific team. We have achieved success in pre-clinical safety and efficacy studies demonstrating the optimal conditions for conformally coated islets within the Cell Pouch. We have also made significant progress in developing release criteria which are essential for the clinical manufacturing process. Furthermore, along with Sernova, we have optimized the manufacturing process and are currently scaling up the GMP production of the conformally coated islets. These elements are critical to advancing the conformal coating technology into the clinic for the potential treatment of all patients with T1D. I look forward to sharing more on our progress at the 2023 IPITA-IXA-CTRMS Joint Congress in San Diego.”

Pre-clinical studies conducted at the University of Miami in collaboration with Sernova demonstrated that conformally coated islets transplanted into the pre-vascularized Cell Pouch achieved normal blood glucose control and reversed the effects of T1D in a syngeneic rat model of T1D. Conformally coated islets show normal responsiveness to glucose and fully regulated insulin production when transplanted in the Cell Pouch. Treated animals ultimately achieved full insulin independence (return to normal glucose levels).

In optimization studies in T1D animal models transplanted with conformally coated allogeneic islets in an implanted Cell Pouch, subjects treated with a single selective immune response agent achieved sustained, normalized blood glucose levels during the study period. These findings support our approach and the potential to eliminate the need for the immunosuppressive cocktails that are typically used for islet transplant patients and are frequently associated with toxic side effects.

As prerequisites for clinical testing in humans, characterization assays have been identified to develop and validate product release criteria for conformal coating. Long-term in vitro stability and durability studies have been successfully completed and release testing is routinely conducted for the finished coated islet product to ensure quality, safety, and efficacy potential, prior to the transplantation of conformally coated islets into Cell Pouch. Sernova is also undertaking a standard array of biocompatibility studies and is completing an allogeneic optimization study using conformally coated islets in the Cell Pouch with the addition of a selective immune response agent which has proven effective in the ongoing Phase 1/2 clinical trial of the Cell Pouch System™ in T1D at the University of Chicago. A single agent provided intermittently with the conformal coating technology would be a significant advancement in the field of cellular immune protection.

Additionally, through a design and manufacturing partner, Sernova is developing a bench-top, scalable, fully automated, and GMP-compatible cell coating system. The clinical-scaled system is designed for installation in GMP cell manufacturing facilities that produce coated islets for clinical trials.

ABOUT THE CONFORMAL COATING TECHNOLOGY The conformal coating technology is a proprietary, mechanically stable, thin, biocompatible, and cross-linked polymer hydrogel that coats the outside of each individual islet housed within the Cell Pouch. The conformal coating technology offers selective permeability, with immuno-protective capability, while not interfering with the kinetics of insulin and glucose release. Importantly, the conformal coating configuration also allows for the physiological transfer of oxygen and nutrients needed for islet survival and long-term function within the pre- vascularized Cell Pouch.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

Media: Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com Tel: 619-723-4326

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.

Press Release Communiqué de presse - September 05, 2023 5 September, 2023

Sernova Corporation Announces the Appointment of Cynthia Pussinen as CEO

Industry veteran with deep commercial experience joins to lead the next stage of growth and development

Dr. Philip Toleikis will serve as Chief Technology Officer

Sernova to host investor calls

LONDON, Ontario; Windham County, CT – September 5, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, today announced that its Board of Directors has appointed Cynthia Pussinen as Chief Executive Officer and a member of the Board of Directors. Dr. Philip Toleikis, who has led the company since 2009 as President and CEO will serve as Chief Technology Officer.

Ms. Pussinen’s expertise spans the drug development continuum from research through commercialization. She has led the development, licensure, commercialization and/or subsequent delivery to patients, of more than fifteen new medical therapies for patients globally, including Obizur® (Antihemophilic Factor (Recombinant), Porcine Sequence), Eraxis® (anidulafungin), Zmax® (azithromycin extended-release) and LUXTURNA® (voretigene neparvovec-rzyl), the first gene therapy approved in both the United States and the European Union.

Most recently, Ms. Pussinen was the Chief Technical Officer for Spark Therapeutics, Inc., a fully integrated, commercial gene therapy company, and a member of the Roche Group. Prior to joining Spark in 2021, Ms. Pussinen’s leadership roles include 6 years with Ipsen Biomeasure and Ipsen Biosciences, U.S. R&D focused subsidiaries of Ipsen, where she served as President and CEO. She was instrumental in leading and executing the divestiture of Obizur® and its associated manufacturing physical infrastructure to Baxter. Ms. Pussinen was also the Executive Vice President, Technical Development, Operations & Supply Chain for Actinium Pharmaceuticals, Inc. and the Global Vice President and General Manager, Life Sciences and Specialty Chemicals for Honeywell International. Early in her career Ms. Pussinen spent more than 18 years at Pfizer in a variety of increasingly responsible leadership roles across various functional areas.

Ms. Pussinen also served on the Drexel University Solutions Advisory Board, as a Board Director for Spark Therapeutics UK Ltd. and Spark Therapeutics Ireland Ltd. and is a member of an early-stage biotech company’s scientific and technical advisory board.

Ms. Pussinen earned a Master of Science in R&D management from Rensselaer Polytechnic Institute and a Bachelor of Science in chemistry, with a minor in engineering from the University of Connecticut. She is lean six sigma certified, is recognized as a mentor through the Healthcare Businesswomen’s Association (HBA) and was honored by WEST (Women in the Enterprise of Science and Technology) as a recipient of their Giving Back award.

“Sernova has demonstrated tremendous growth over the past several years as it has transitioned from a research company to one that is moving towards commercialization of a product for the treatment of multiple chronic diseases including our flagship program for Type 1 Diabetes (T1D). As a united Board, we feel now is the time to bring in an industry leader with extensive experience with large pharmaceutical companies as well as entrepreneurial biotech and advanced therapeutics focused companies,” commented Brett Whalen, Chair of the Board of Directors of Sernova. “The skills that Ms. Pussinen brings to our company include over 25 years of global experience shepherding new therapies from development through commercialization across multiple conditions with sales measured in the billions.”

Mr. Whalen continued, “the Board would like to thank Dr. Toleikis for his significant contributions to Sernova and his passionate commitment to our mission, and for continuing in his new role as Chief Technology Officer. Under his leadership, Sernova has solidified the strong scientific and technical foundations for future success and created significant market value driven by the strong positive clinical data outcomes in T1D. The Board is convinced that Ms. Pussinen and Dr. Toleikis bring the right combination of experience and talent to optimize this unique opportunity for all stakeholders.”

Ms. Pussinen added, “It is an honor and a privilege to join Sernova at this pivotal stage in the company’s evolution. Sernova has developed novel technology, and I am very excited by the positive pre-clinical and clinical results thus far. The company is a pioneer in creating new ways to address some of the most challenging chronic diseases, providing the possibility of a life-changing ‘functional cure’ for conditions including Type 1 Diabetes. I am inspired by the mission to improve human health and look forward to working with the passionate Sernova team to boldly advance the company’s mission for the benefit of all patients, stakeholders and investors.”

Dr. Toleikis said, “I am grateful to have led Sernova’s dedicated team over the past years. I am proud of all that we have accomplished together over the past years, including establishing a strong technology and scientific foundation along with introducing new treatments options to patients with chronic conditions. I am very pleased to welcome Ms. Pussinen to the Sernova team as the new CEO and look forward to working together. I look forward to my continued involvement with the Company to see through the realization of Sernova’s mission to bring a functional cure to patients around the world suffering from chronic diseases.

Sernova’s management will host investor calls, firstly to introduce Ms. Pussinen, and later, in approximately 30 days, to provide an overview of Sernova as well as a question-and-answer session. Investors will be informed of the details once finalized.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

Investors: Corey Davis, Ph.D. LifeSci Advisors, LLC cdavis@lifesciadvisors.com Tel: 212-915-2577 Media: Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com Tel: 619-723-4326

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.

Press Release Communiqué de presse - July 26, 2023 26 July, 2023

Sernova Expands Leadership Team with Appointment of Modestus Obochi, Ph.D., MBA, as Chief Business Officer

LONDON, Ontario – July 26, 2023 – Sernova Corp. (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a clinical- stage company and leader in cell therapeutics, today announced the appointment of Modestus Obochi, Ph.D., MBA, a veteran dealmaker and strategic leader with 25+ years of biotech and pharmaceutical industry experience, as Chief Business Officer effective September 8, 2023.

“Dr. Obochi brings additional invaluable industry acumen to our expanding leadership team,” said Dr. Philip Toleikis, President and Chief Executive Officer of Sernova. “His proven expertise in strategy, business development, product lifecycle management, and operational excellence will be vital to our team as we continue to strategically advance our proprietary therapeutic cell therapy technologies including our Cell Pouch System™, both independently and with industry partners, as a potential ‘functional cure’ for multiple chronic diseases.”

Dr. Obochi added, “I am very excited by the significant commercial potential and the immense clinical potential that Sernova’s proprietary cell therapy platform has shown in the ongoing Phase 1/2 study in people living with type 1 diabetes. As an immunologist and someone whose family has been impacted by the devastating effects of T1D, the Sernova opportunity is very personal to me. I look forward to working with Sernova’s management and board of directors, its partners, and research collaborators as we aim to develop Sernova’s proprietary cell therapy platform into a commercially viable ‘functional cure’ modality for multiple chronic diseases, including insulin-dependent diabetes, hemophilia A, and hypothyroidism.”

Based in the Chicago, Illinois area, where he has resided for the last 16 years, Dr. Obochi joins Sernova from Phlow Corp., where he served as Executive Vice President of Strategy and Business Development. In that role, he led the design, development, and execution of corporate strategy and business development plans. He also managed the due diligence, structuring, and negotiations of all transactions, including licensing deals, product acquisitions, partnerships, M&A, and strategic investments. Prior to his role at Phlow Corp., Dr. Obochi held several executive-level commercial and business development roles at leading pharmaceutical companies including Pfizer, Hospira, and Baxter International, and has previously consulted for several biotechnology companies. Most notably, in these roles, Dr. Obochi has helped corporations raise significant capital and has successfully structured and closed multiple strategic transactions worth over $5 billion. Dr. Obochi holds a Ph.D. in Immunology from the University of British Columbia, Vancouver, and an MBA from the Beedie School of Business of Simon Fraser University, Vancouver. He has published over 30 manuscripts, including journal articles and symposia abstracts, and is an inventor on several patents, including one on cell transplantation.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its therapeutic cell technology lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin- producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Corporate

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

Investors

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

Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com Tel: 619-723-4326

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.

Press Release Communiqué de presse - June 26, 2023 26 June, 2023

Sernova Announces Positive Updated Interim Phase 1/2 Clinical Data for the Cell Pouch System™ at American Diabetes Association 83rd Scientific Sessions

• In the first cohort of the ongoing Phase 1/2 clinical trial, the first 5 patients to complete protocol-defined islet transplants achieved insulin-independence for ongoing periods of 6 to 38 months. • Following islet transplants to the 8-channel Cell Pouches, patients in the first cohort required only modest islet top-up via portal vein to achieve insulin independence, supporting the contribution to blood glucose control from islet grafts in the Cell Pouch™. • Five of the 7 planned patients have been enrolled in the second cohort and implanted with higher capacity 10-channel Cell Pouches. Three patients in the second cohort have received their first pancreatic islet transplant to Cell Pouch. • Persistent fasting and stimulated serum C-peptide confirms stable islet graft function in the first evaluable patient to receive islet transplants to the higher capacity Cell Pouch.

LONDON, Ontario – June 26, 2023 – Sernova Corp. (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a clinical- stage company and leader in cell therapeutics, today announced updated positive interim data from its ongoing Phase 1/2 clinical trial of the Cell Pouch System in patients with type 1 diabetes (T1D) and severe hypoglycemia unawareness. The new data from the study, which is being conducted by Piotr Witkowski, M.D., Ph.D., at The University of Chicago, were presented during an oral podium presentation at the American Diabetes Association (ADA) 83rd Scientific Sessions, on June 24th, 2023 in San Diego, California.

The presentation discussed the first eleven patients enrolled across two cohorts in the clinical trial evaluating Cell Pouch in combination with pancreatic islets and reconfirmed the safety of Cell Pouch up to more than 4 years following implant. During the trial, the function of the transplanted islets are measured by blood glucose levels, patient insulin usage, and serum C-peptide - a measure of islet insulin secretion.

To date, 5 patients in the first cohort of 6 subjects who have completed Cell Pouch implantation, islet transplant to Cell Pouch, and supplemental portal vein islet infusion, continue to experience insulin independence for periods ranging from 6 months to greater than 3 years. The sixth patient in the first cohort has only recently completed the protocol-defined islet transplants and awaits assessment of their islet graft function.

In addition, updates were provided for the second cohort with the recently implemented 10-channel Cell Pouch with more than 50% greater transplant capacity than the previous 8-channel system. Five of 7 patients meeting the trial eligibility criteria have been enrolled in the second cohort and implanted with the higher capacity Cell Pouch. Three of the 5 patients enrolled in the second cohort have each received a first islet transplant to their implanted Cell Pouches. The first evaluable patient in the second cohort has demonstrated persistent fasting and stimulated serum C-peptide levels following a single islet transplant into the pre-vascularized 10-channel Cell Pouch.

KEY POINTS FROM THE INTERIM CLINICAL UPDATE

• Long-term surgical implantation of the Cell Pouch continues to be well tolerated with a favorable safety profile in patients receiving either 8 or 10-channel Cell Pouches. • Five of 6 patients in the first cohort achieved insulin independence following supplemental islet transplants via the portal vein that were below the typical intraportal islet dose, indicating that islet graft function in the 8- channel Cell Pouch is supporting ongoing glucose control. • Histological assessment of sentinel Cell Pouches excised at ≥90 days post-transplant revealed surviving functional islets in 5 of 6 patients in the first cohort. • The 5 patients in the first cohort that have achieved insulin independence have each remained free of endogenous insulin therapy ranging from 6 months to greater than 3 years. The sixth patient in the first cohort has recently completed the protocol-defined islet transplants and is awaiting their next islet graft assessment. • In the second cohort, 5 of 7 planned patients are now enrolled and implanted with the higher capacity Cell Pouches. Three of the 5 patients have received their first dose of pancreatic islets transplanted to Cell Pouch. • One patient in the second cohort has demonstrated persistent serum C-peptide levels after only a single islet transplant into 10-channel Cell Pouch. The first patient in the second cohort developed persistent neutropenia requiring cessation of immunotherapy. The third patient awaits their first islet graft assessment. Further data from the second cohort of the clinical trial is expected in the second half of 2023.

“We are very pleased to see these positive data for our T1D trial with Cell Pouch, and especially our 10- channel Cell Pouch configuration, as we pursue a ‘functional cure’ for patients with T1D,” said Dr. Philip Toleikis, President and Chief Executive Officer of Sernova. “These additional data continue to confirm our understanding and provide verification of our estimates of islet dose thresholds and density required for optimal efficacy in this patient population. We continue to follow through on our commitment to rapidly enroll the study’s second cohort, while setting the stage for Cell Pouch in combination with Evotec’s iPSC derived islet-like clusters in our upcoming clinical trial.”

Dr. Piotr Witkowski, Director of the Pancreatic and Islet Transplant Program at The University of Chicago, and principal investigator of the clinical trial added, “I continue to be encouraged by the results achieved in this trial, and especially by the ease of use and favorable response from a single islet transplant to the larger Cell Pouch. I look forward to reporting further data later this year.”

For more information on the ongoing clinical study, go to clinicaltrials.gov (NCT03513939).

To add to the ongoing Phase 1/2 clinical trial of the Cell Pouch System in T1D, Sernova also continues to advance its global strategic partnership with Evotec SE (Evotec). Together the companies remain on track to advance Sernova’s Cell Pouch in combination with Evotec’s induced pluripotent stem cell (iPSC) derived islet- like clusters into the clinic. Furthermore, Sernova is advancing its conformal coating cellular immune protection technologies in collaboration with the University of Miami with the goal to reduce or eliminate the need for immunosuppression agents.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, the Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a novel therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

Media: Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com Tel: 619-723-4326

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.

Press Release Communiqué de presse - June 22, 2023 22 June, 2023

Sernova to Present Updated Interim Phase 1/2 Clinical Data on Cell Pouch System™ During Oral Presentation at American Diabetes Association 83rd Scientific Sessions

Company to host in-person only analyst and investor event at an offsite location following the presentation on Saturday, June 24 at the ADA Scientific Sessions

LONDON, Ontario – June 22, 2023 – Sernova Corp. (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a clinical- stage company and leader in cell therapeutics, will be presenting updated interim data from its ongoing Phase 1/2 clinical trial of the Cell Pouch System™ in patients with type 1 diabetes (T1D) and hypoglycemia unawareness at the American Diabetes Association (ADA) 83rd Scientific Sessions, to be held June 23-26, 2023, in San Diego.

The abstract, which was submitted several months ago, written by Dr. Piotr Witkowski, M.D., Ph.D. and his team at The University of Chicago Pritzker School of Medicine, was released by the ADA and shows that five of the six patients receiving the Sernova Cell Pouch remain insulin independent (>2.5 years, >1 year, 10 months, 2 months, and 1 month). With the 6th patient awaiting a final protocol-mandated islet transplant. The oral podium presentation will contain additional updated information and will take place on Saturday, June 24. In alignment with the ADA embargo policy, the additional data updates will be shared by Sernova following the completion of the presentation. The abstract for the oral presentation can be accessed here. Presentation details:

• Abstract: #240-OR • Title: Islet Allotransplantation into Pre-vascularized Sernova Cell Pouch—Early Results from the University of Chicago • Abstract Session: Clinical Islet-Cell Transplantation • Date: Saturday, June 24, 2023 • Time: 5:15 PM PT • Location: Room 30 • Authors: Mateusz Ogledzinski, Sarah Gondek, William Lin, Kamila Milejczyk, Braden Juengel, Lisa Potter, Piotr K. Bachul, Lindsay Basto, Laurencia Perea, Lingjia Wang, Martin Tibudan, Rolf Barth, John Fung, Piotr Witkowski

Sernova will host an in-person analyst and investor event following the presentation at ADA: • Date: Saturday, June 24, 2023 • Time: 6:30 PM PT • Location: The Hilton San Diego Bayfront • Room: Aqua 310B

Register for the event here: https://events.r20.constantcontact.com/register/eventReg? oeidk=a07ejsjhyfz2e580299&oseq=&c=&ch=

Abstracts for the ADA 83rd Scientific Sessions can be accessed here: https://eppro02.ativ.me/src/EventPilot/php/express/web/planner.php?id=ADA23

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT: Corporate: Christopher Barnes VP, Investor Relations Sernova Corp. christopher.barnes@sernova.com Tel: 519-902-7923 www.sernova.com

Investors: Corey Davis, Ph.D. LifeSci Advisors, LLC cdavis@lifesciadvisors.com Tel: 212-915-2577 Media: Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com Tel: 619-723-4326

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.

Press Release Communiqué de presse - June 16, 2023 16 June, 2023

Sernova to Participate in Upcoming Truist Securities Cell Therapy Symposium

LONDON, Ontario – June 16, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical- stage company and leader in cell therapeutics, today announced it will be participating in the upcoming symposia-cel Truist Securities Cell Therapy Symposium being held June 27, 2023 in New York City. Company management will also be participating in one-on-one investor meetings at the conference.

symposia-cel - A Truist Securities Cell Therapy Symposium

Format: Fireside Chat Date: June 27, 2023, 2:15pm Participant: Dr. Philip Toleikis, President & CEO, Sernova Corp Location: Lotte New York Palace

Please contact your representative at Truist to schedule a one-on-one meeting with the management team during the conference.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM™ PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

Media: Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com 619-723-4326

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.

Press Release Communiqué de presse - May 31, 2023 31 May, 2023

Sernova Announces Executive Alignment and Appoints New Board Chair

LONDON, Ontario – May 31, 2023 – Sernova Corp. (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a clinical- stage company and leader in cell therapeutics, today announced the outcomes from a strategic and executive leadership review conducted by its Board of Directors (the “Board”).

Following the recent 2023 Annual General Meeting of Shareholders (the “AGM”), the Sernova Board welcomed Mr. Brett Whalen, Dr. Steven Sangha and Mr. Bertram von Plettenberg as newly elected Directors. The newly constituted Board has appointed Mr. Brett Whalen as its new Chair, Mr. Bertram von Plettenberg to serve on its Audit and Compensation Committees, and Dr. Steven Sangha to serve on its Nomination and Corporate Governance Committee. In addition, the new Board has determined that it is in the best interest of the Company that Dr. Philip Toleikis remain as President and Chief Executive Officer and continue leading the Company’s Management Team and executing Sernova’s vision.

“As newly appointed Chair, I would like to welcome Dr. Sangha and Mr. von Plettenberg,” said Mr. Whalen. “As a long-standing shareholder and newly elected Board member, I am excited to take on the role as Chair. I look forward to helping guide the company through its next critical phase of development.”

Sernova’s new Board and Management Team are fully aligned to position the Company in the biotech sector as a leading player developing cell-based ‘functional cures’ for type one diabetes (“T1D”), hypothyroid disease and rare diseases, such as hemophilia A, and are committed to unlocking the value inside of Sernova by ensuring the market recognizes the full potential of the Company and its extendible cell therapy platform and technologies.

The Board recognizes the contributions of the Concerned Shareholders Group that engaged in the democratic process for the recent AGM, and therefore the Company intends, as an act of good faith, and in the interest of fully aligning Sernova shareholders with Management and the Board, to reimburse the Concerned Shareholders Group for their reasonable AGM related expenses. In addition, the Company has re-priced the recently issued options granted to the Board members to $1.20 per share from $0.84, reflecting the unanimous belief from the Board that the market is undervaluing the Company at this time. In a statement from the Concerned Shareholders Group, “The newly constituted Board seems aligned with shareholder interests as evidenced by the above actions. We are pleased to note a change in tone and energy resulting from the new Board composition. We are confident they will bring about the necessary changes to unlock value for the short, medium, and longer-term horizons.”

Dr. Toleikis added, “The most promising days for Sernova from a program and business development perspective are ahead. We look forward to sharing the updated results from our ongoing T1D Phase 1/2 trial with our Cell Pouch System™ at the upcoming American Diabetes Association 83rd Scientific Sessions meeting on June 24th and advancing our second patient cohort towards full enrolment followed by anticipated initial interim results by the end of 2023. Furthermore, we are thrilled to be advancing on schedule the first human clinical studies with iPSC-based insulin-producing islet-like clusters in 2024 under our partnership with Evotec SE that is catching the eye of the investment and pharmaceutical business communities.”

Lastly, Sernova Directors Ms. Deborah Brown and Dr. Mohammad Azab have retired from the Company’s Board, effective May 30th. “The Board and Management wish to recognize and thank Ms. Brown and Dr. Azab for their years of service and contributions in providing guidance to the Company, particularly relating to corporate governance and clinical development, respectively, during their tenure,” said Mr. Whalen.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

Media: Hannah Holmquist LifeSci Communications hholmquist@lifescicomms.com Tel: 619-723-4326

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.

Press Release Communiqué de presse - May 03, 2023 3 May, 2023

Sernova Announces Research Collaboration with AstraZeneca to Evaluate Novel Potential Therapeutic Cell Applications

LONDON, Ontario – May 3, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical- stage company and leader in cell therapeutics, today announced it has entered into a preclinical research collaboration with AstraZeneca (LSE/STO/Nasdaq:AZN) to evaluate the use of Sernova’s Cell Pouch System™ in combination with AstraZeneca’s novel therapeutic cells.

“Sernova has developed a novel cell therapy approach for the potential treatment of insulin-dependent diabetes, hypothyroidism and hemophilia A,” said Dr. Philip Toleikis, President and Chief Executive Officer of Sernova. “By engrafting functional therapeutic cells within an implanted Cell Pouch, which naturally vascularizes with surrounding tissues, we create an environment for the production and release of absent or under-expressed hormones and proteins. We are pleased to be working with AstraZeneca in the preclinical assessment of its various proprietary therapeutic cells in combination with our Cell Pouch.”

AstraZeneca is exploring the use of Sernova’s Cell Pouch System as a potential platform for integration with its development of the next wave of innovative cell therapies for various indications. Under the terms of the collaboration, AstraZeneca will lead and completely fund the development of the cell technologies and pre- clinical activities in conjunction with Sernova. The discovery work is being funded and conducted at AstraZeneca. The preclinical research outcomes will determine the feasibility of potential therapeutic applications and subsequent product development activities between the two companies.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

Media: Elizabeth Miller, M.D. LifeSci Communications emiller@lifescicomms.com Tel: 646-791-9705

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.