Press Release Communiqué de presse - September 20, 2006 20 September, 2006

Diabetic Product Development Leads to Name Change: Sernova Corp.

Kelowna, B.C. - Pheromone Sciences Corp. is pleased to announce it has changed its name to Sernova Corp. ("Sernova"). The company's new stock symbol is SVA.

"The new name fits better with projects such as our current development of a potential breakthrough treatment for diabetes," said Chairman Dr. William Cochrane. "We wanted a new name to help make it clear to investors that our focus is no longer centred around pheromones, but can include all kinds of biotechnology developments."

Shareholders approved the name change at the Company's annual general meeting held on August 18th 2006 and elected 5 directors to the Board: Dr. William Cochrane (Chair), Charles Allard, Justin Leushner, Devinder Randhawa and Dr. Eldon Smith.

The Company's officers are: Chief Executive Officer- Devinder Randhawa, President-Justin Leushner, and Chief Financial Officer and Corporate Secretary-Patrick Groening.

Sernova Corp. is a biotechnology research and development company focused on commercializing medical technologies.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

ON BEHALF OF THE BOARD

"Dev Randhawa"

Dev Randhawa, CEO

For further information contact: TEL: (888) 318-7062 Mr. Phil Morehouse FAX: (250) 868-8493 Sernova Corp.

Press Release Communiqué de presse - April 28, 2009 28 April, 2009

New Strategic Plan

APPOINTMENT OF DR. PHILIP TOLEIKIS AS PRESIDENT AND CEO * PRIVATE PLACEMENT FINANCING * GRANT OF STOCK OPTIONS

London, Ontario - April 28, 2009 - Sernova Corp. (TSX-V: SVA)

At the Annual General Meeting of Shareholders held today, the Sernova Board of Directors issued its report on the internal review of the Corporation's research and development, financing and partnering activities and strategies that had been conducted over the last three months by Mr. Jeffrey Bacha, an independent Director of the Corporation. Based on the analysis of the Corporation's scientific progress to date, regulatory requirements, and financial and human resources, the Board of Directors has approved Mr. Bacha's recommended strategic plan.

Sernova's immediate priority will be to seek scientific collaborations with key international transplant centres that currently offer islet transplantation (known as the Edmonton Protocol) to patients suffering from Type 1 diabetes. Sernova strongly believes that its proprietary Sertolin(tm) technology, which utilizes co- transplantation of porcine islets and Sertoli cells in a unique transplantation device, offers a quantum leap forward over the Edmonton Protocol, the current standard of care. The limitations of the Edmonton Protocol are well understood: very small source of donated human islets, potential damage to the patient's liver, significant loss of islets following transplantation, severe immune and inflammatory responses to the transplanted islets, and the permanent need for the patient to take toxic and expensive anti- rejection drugs. The Sertolin(tm) treatment would potentially overcome all of the Edmonton Protocol limitations in a simpler, less invasive, safer and less expensive way, since it is based on the availability of a large supply of porcine islets and sertoli cells from controlled herds, reduced loss of islets following transplantation, no minimal immune or inflammatory responses, and no need for any antirejection drugs.

Sernova has already initiated discussions with several key transplantation centres in the United States with a view to establishing scientific collaborations to demonstrate proof of concept and commercialize Sertolin(tm). Mr. Bacha stated: "By working together with leading transplant centres, we can achieve far more in a shorter period of time, and ensure the highest quality studies that will meet the standards of the FDA and the international scientific community."

Sernova is also aggressively seeking government and private grants to fund key projects within the overall Sertolin(tm) development plan. Until further funding and/or scientific collaborations are secured, the Corporation has significantly reduced its overhead and operating expenses.

The Board of Directors also announces the appointment of Dr. Philip Toleikis as the President and CEO of the Corporation. Dr. Toleikis is a seasoned and experienced biotechnology executive, with over 20 years of research, intellectual property, management and business experience in the pharmacology and biotechnology sectors. His most recent position was as Vice President, R&D Pharmacology and Drug Screening, for Angiotech Pharmaceuticals, Inc. of Vancouver, British Columbia, where he built a major scientific and information technology team that included senior scientists, research scientists and technicians. Dr. Toleikis' major achievements at Angiotech included successful completion of Phase II European Clinical Trials, chairing the Joint Research Committee, in-licensing and out- licensing of technologies, and management of key patents and patent applications. Dr. Toleikis is the author of multiple issued patents and over 110 patent applications. His research training and experience includes biochemical pharmacology, diabetes, oncology, inflammatory diseases (psoriasis, multiple sclerosis, surgical adhesions, Alzheimer's disease and rheumatoid arthritis), osteoarthritis, neurological diseases and cardiovascular conditions including ischemic heart disease, cardiomyopathy, hypertension and aneurysms. Dr. Toleikis will be presenting on the Corporation's behalf at the BioFinance Conference in Toronto on Wednesday, April 29, 2009.

Dr. George Adams, Chairman of the Board of Directors, welcomed Dr. Toleikis, stating "Sernova is privileged to now be led by such a distinguished scientist and executive. We are fully confident that Dr. Toleikis will drive our technology through the worldwide regulatory process and into commercialization. The treatment of insulin- dependent diabetes will be just the first commercial application of our platform technology. On behalf of the Board of Directors and our shareholders, I welcome Dr. Toleikis to the Sernova family."

Sernova also announces that it will be seeking the approval of the TSX Venture Exchange for a private placement of up to 14 million shares at a price of $0.03 per common share, for aggregate consideration of $420,000. A commission of 10%, along with a 10% agents warrant to purchase common shares at $0.05 per common share, will be paid.

The Corporation also announces the granting of incentive stock options to an officer to purchase up to 700,000 common shares at $0.10 per share for a period of 5 years expiring April 28, 2014.

About Sernova Sernova Corp. is a Canadian-based, health- sciences company focused on commercializing medical technologies. Sernova is currently developing a platform technology for a number of serious disease indications, starting with a novel treatment for insulin- dependent diabetes, using its patented Sertolin cell technology. According to the American Diabetes Association approximately 9 million Americans require insulin injections and it is the sixth leading cause of death in the United States. One out of every 8 dollars spent on health care in the United States is spent on treating diabetes and its complications. Worldwide expenditures on insulin alone are estimated to be $15 billion annually and growing.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

For further information contact: Craig Gauld, Executive Vice President Tel: (888) 318-7062; (519) 858-5126 info@sernova.com www.sernova.com

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE

Press Release Communiqué de presse - July 12, 2010 12 July, 2010

Sernova Announces Positive Results of its Proprietary Cell Pouch System(tm) in Preclinical Diabetes Model

Source: Sernova Corp

July 12, 2010, 6:00 a.m. EDT

LONDON, ONTARIO--(Marketwire -- July 12, 2010) - Sernova Corp. (TSX VENTURE:SVA) is pleased to report positive results from a long-term study evaluating the safety and efficacy of the Cell Pouch System(TM) in a pre- clinical model of diabetes.

Detailed data will be presented at the 23rd International Conference of the Transplant Society, Vancouver, British Columbia, Canada, August 15th-19th in a presentation entitled, "A novel Cell Pouch(TM), an alternative to intrahepatic islet transplantation."

Dr. Philip Toleikis, Sernova's President & CEO, noted "Our Cell Pouch System(TM) is a proprietary medical device implanted under the skin rapidly forming into a tissue- engineered, organ-like structure that provides a natural environment for the survival and function of therapeutic cells. These long-term results represent a significant achievement as a possible alternative to the current practice of injecting islets directly into the portal vein of the liver."

"Our data are profound because they suggest the potential to reduce side-effects associated with the current standard of care and achieve glucose control with significantly fewer islets than normally required," said Toleikis.

On March 16, 2010, Sernova reported initial results demonstrating that the Cell Pouch System(TM) becomes rapidly vascularised and achieved initial glucose control in subject animals.

The following summarizes important new findings reported today: Long-term insulin independence was successfully achieved with significantly fewer islets than the current standard of care, requiring only about 10% of insulin- producing islets normally used for the Edmonton Protocol. Animals in the study achieved long-term glucose normalization throughout the course of the study. Standard laboratory tests demonstrated transplanted islets produced insulin and responded similarly to non- diabetic animals to provide control of glucose. No adverse events related to the Cell Pouch System(TM) occurred during the study. About the Study

The Cell Pouch System(TM) was implanted in pigs which were then made diabetic through removing the pancreas and chemical induction. The animal's own islets (Autograft) isolated from the pancreas were transplanted into the device. Standard measures of efficacy including fasting and non-fasting glucose levels, glucose tolerance tests (IVGTT), and C-peptide were taken up to 72 days post- transplant. At the end of the study period, the device containing the islets was removed and the animals returned to a diabetic state.

Following transplantation, a substantial number of study animals maintained glucose levels within the normal range, showed glucose tolerance tests (IVGTT) similar to non-diabetic animals and were C-peptide positive, an important confirmation of insulin-producing islet function. Microscopic fluorescence analysis of the device revealed both microvessels and insulin associated with islets.

Upon removal of the Cell Pouch System(TM) containing islets, fasting glucose levels returned to the diabetic range and animals required daily insulin injections to maintain normal glucose levels. The animals return to the diabetic state was further confirmed by IVGTT and C- peptide analysis.

From a safety perspective, no adverse events occurred related to the Cell Pouch(TM) throughout the study following implantation of over 40 devices for up to 5 months. The devices were well-incorporated with collagen at all time points and yet were not visible under the skin, an important consideration for patients.

Dr. David White, Chair of Sernova's Scientific Advisory Board stated, "I am particularly enthusiastic about these results and the potential clinical relevance to patients suffering from diabetes. These new data suggest that the Cell Pouch System(TM) represent a possible clinically relevant alternative to injection of islets into the portal vein of the liver and may reduce the side effects of transplantation including the instant blood- mediated reaction (IBMR). The indication that our device achieves glucose control with a reduction in the number of islets normally required is also of profound clinical importance as it may increase the availability of life-changing islet transplantation to many diabetic patients."

Sernova believes that the Cell Pouch System(TM) has the potential for a wide range of uses in cell therapy including the treatment of diabetes, haemophilia, and other chronic debilitating diseases. Based on these encouraging results, the Company is taking steps towards clinical evaluation of its Cell Pouch System(TM).

According to the American Diabetes Association approximately 9 million Americans require insulin injections and it is the sixth leading cause of death in the United States. One out of every eight dollars spent on health care in the United States is spent on treating diabetes and its complications. Worldwide expenditures on insulin alone are estimated to be $15 billion annually and growing.

About Sernova

Sernova Corp. is a Canadian-based health sciences company focused on product development and commercialization of innovative proprietary platform medical technologies in the cell therapy arena such as the Cell Pouch System(TM) to provide a safe and efficacious environment for therapeutic cells and Sertolin(TM), a technology which, when combined with cell therapy, may protect therapeutic cells without the need for patients to take anti-rejection drugs.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 info@sernova.com www.sernova.com

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.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirement of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including availability of funds, the results of financing efforts, the results of research and product development activities - that could cause actual results to differ materially from Sernova's expectations are disclosed in Sernova's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Press Release Communiqué de presse - March 03, 2011 3 March, 2011

Sernova To Present Cell Pouch System™ Research Results At Transplantation Conference

Source: Sernova Corp

FOR RELEASE

March 3, 2011, 6:00 a.m. EST

LONDON, ONTARIO--(Marketwire - March 3, 2011) - Sernova Corp. (TSX VENTURE:SVA) is pleased to announce the Company will present results of preclinical studies with its Cell Pouch System(TM), at the Canadian Society of Transplantation 2011 Annual Scientific Conference at Mt-Tremblant, Quebec, Canada held March 2-5.

The conference brings together eminent scientists and clinicians in the cell and organ transplantation field from across Canada and around the world. Sernova will be making three poster presentations entitled:

"The establishment of a stringent large animal model of insulin-dependent diabetes"

"A subcutaneous Cell Pouch(TM) as an alternative to intraportal infusion of islets of Langerhans to restore carbohydrate control in the diabetic recipient," and

"Islets transplanted into a subcutaneous Cell Pouch(TM) demonstrate long-term efficacy measured by C- peptide."

"The conference provides a venue to discuss the attributes of Sernova's novel Cell Pouch System(TM) as an alternate site for insulin-producing islet transplantation and its potential for additional cellular therapies with leaders from the medical transplantation community," stated Delfina Siroen, Sernova's Research and Development Head.

The Cell Pouch System(TM) is a proprietary medical device which may offer a revolutionary improvement over the current practice of injecting therapeutic cells into blood vessels. Based on previous pre-clinical research, the Cell Pouch System(TM) becomes a vascularised organ-like endocrine structure when placed in the body, providing the microcirculation thought to be essential to early function and long-term survival of therapeutic cells. Sernova has conducted efficacy studies in small and large animal models of diabetes and shown the device with insulin-producing islets to control blood glucose levels long-term without the need for daily insulin injections. Sernova believes the Cell Pouch System(TM) has the potential for a wide range of uses in cell therapy including the treatment of diabetes, haemophilia, spinal cord injury, Parkinson's disease and other chronic debilitating diseases.

According to the American Diabetes Association approximately 9 million Americans require insulin injections and it is the sixth leading cause of death in the United States. One out of every 8 dollars spent on health care in the United States is spent on treating diabetes and its complications. Worldwide expenditures on insulin alone are estimated to be $15 billion annually and growing.

About Sernova

Sernova Corp. is a Canadian-based health sciences company focused on product development and commercialization of innovative proprietary platform medical technologies in the cell therapy arena such as the Cell Pouch System(TM) to provide a safe and efficacious environment for therapeutic cells and Sertolin(TM), a technology which, when combined with cell therapy, may protect therapeutic cells without the need for patients to take anti-rejection drugs.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 info@sernova.com www.sernova.com

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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including availability of funds, the results of financing efforts, the results of research and product development activities -- that could cause actual results to differ materially from Sernova's expectations are disclosed in Sernova's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Press Release Communiqué de presse - October 25, 2011 25 October, 2011

Sernova Enters Into Collaboration With Edmonton's Clinical Islet Transplant Program To Expand Cell Pouch(tm) Applications For Diabetes Treatment

Source: Sernova Corp

LONDON, ONTARIO - (Marketwire - October 25, 2011) - Sernova Corp. (TSX-V: SVA), is pleased to announce it has entered into a collaboration with The Clinical Islet Transplant Program at the University of Alberta Hospital.

The Program is headed by Dr. James Shapiro, MD, Ph.D. FRCS (Eng) FRCSC, the leader of the team that developed the Edmonton Protocol, the current standard of care for islet transplantation. In September 2010, following review of Sernova's preclinical data, Dr. Shapiro joined the Corporation's Scientific Advisory Board.

"Dr. Shapiro's contributions to date position us to enter into this important collaboration which is targeted to expand access to islet transplantation for the treatment of diabetes to a much wider base of patients using Sernova's Cell Pouch(tm)," said Dr. Philip Toleikis, Ph.D., President and CEO of Sernova.

The current procedure for islet transplantation to treat diabetes, commonly known as the "Edmonton Protocol" involves transplanting islets directly into a blood vessel (portal vein) of the liver. The Cell Pouch(tm) is expected to solve a number of issues arising from portal vein delivery. For example, the Cell Pouch(tm) provides a natural setting where blood vessels grow adjacent to the islets rather than being bathed in blood which can result in the death of up to 75% of the islets through an instant blood mediated inflammatory response (IBMIR). Use of the Cell Pouch(tm) would eliminate portal vein hypertension and thrombosis associated with portal vein islet delivery and potentially reduce the cost of the procedure as the catheterization laboratory is not required for implantation of the Cell Pouch(tm) or islet transplantation. Importantly, preclinical studies of the Cell Pouch(tm) have consistently shown excellent safety and efficacy profiles with significantly fewer islets than for portal vein delivery, which could increase the number of recipients treated with the current donor pool. Furthermore, implantation of the Cell Pouch(tm) just under the skin allows for imaging of the islets and microvessels and for local immunoprotection of therapeutic cells.

Sernova's Cell Pouch(tm) is a scalable medical device providing a natural "organ-like" environment for therapeutic cells. Once implanted under the skin, the Cell Pouch(tm) develops pancreas-like function when infused with islets, controlling blood sugar levels as shown by published preclinical data which also suggests that the natural environment promotes cell survival reducing the number of islets required for therapy.

Sernova is currently pursuing upcoming human testing of the Cell Pouch(tm) based on the strong preclinical safety and efficacy data generated to date.

This collaboration will further seek to position the Cell Pouch(tm) through next generation improvements to the Edmonton Protocol to expand access to cell transplant to a much wider patient population. The collaboration will include work related to: Assessment of islet protective agents that could further reduce the islet mass required for each transplant using the Cell Pouch(tm)

Assessment of locally administered anti-rejection strategies within the Cell Pouch(tm) with the goal of reducing or eliminating systemic antirejection regimens

Assessment of a proprietary, ethically derived insulin- producing stem cell technology within the Cell Pouch(tm) as an enabling technology which could significantly expand the number of patients treated

Development of high resolution imaging systems to enable physicians to better assess and optimize long- term islet function A video describing the Edmonton Protocol and the collaboration of Sernova with Dr. Shapiro may be viewed on Sernova's website at www.sernova.com

"The safety and efficacy of the Cell Pouch(tm) in preclinical studies is impressive. We are excited to be working with Sernova in both preparing for its upcoming clinical trial and in this collaboration. We are hopeful that Sernova's Cell Pouch(tm) will significantly increase the number of diabetic patients that can be treated with islet transplantation," said Dr. Shapiro, Director of the Clinical Islet Transplant Program, at the University of Alberta and member of Sernova's Scientific Advisory Board.

About Sernova

Sernova Corp. is a Canadian-based health sciences company focused on product development and commercialization of innovative proprietary platform medical technologies in the cell therapy arena such as the Cell Pouch System(TM) to provide a safe and efficacious environment for therapeutic cells and Sertolin(TM), a technology which, when combined with cell therapy, may protect therapeutic cells without the need for patients to take anti-rejection drugs.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 info@sernova.com www.sernova.com

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.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirement of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including availability of funds, the results of financing efforts, the results of research and product development activities - that could cause actual results to differ materially from Sernova's expectations are disclosed in Sernova's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, 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 02, 2012 2 May, 2012

Sernova Receives Health Canada Approval to Initiate Human Clinical Trials of its Cell Pouch ™

-Patients with insulin-dependent diabetes to be treated with Sernova's subcutaneous Cell Pouch (TM) and insulin- producing islets-

Source: Sernova Corp

LONDON, ONTARIO--(Marketwire - May 2, 2012) - Sernova Corp. ("Sernova" or the "Company") (TSX VENTURE: SVA - News) today announced it received Health Canada Approval to conduct a human clinical trial assessing both the safety and efficacy of Sernova's Cell Pouch(TM) with transplanted insulin-producing islets in patients with insulin-dependent diabetes. The study will be conducted in collaboration with Dr. James Shapiro at the University of Alberta Health Science Centre in Edmonton.

"Sernova's compelling pre-clinical results provide optimism that the Cell Pouch(TM) has the potential to change the standard of care of patients with diabetes receiving islet transplantation," said Dr. James Shapiro, principal investigator of the study. "I am excited to begin enrolment of patients in this ground breaking clinical study to evaluate the Cell Pouch(TM) in humans."

The study, entitled "A Phase I/II Study of the Safety and Efficacy of Sernova's Cell Pouch(TM) for Therapeutic Islet Transplantation," is an open label, non- randomized, single-arm, Phase I/II safety and efficacy study of up to 20 patients with insulin-dependent diabetes undergoing allograft pancreatic islet transplantation.

In this study, patients who have met the enrolment criteria and provided informed consent will be implanted with the Cell Pouch(TM) approximately 2-12 weeks prior to transplantation of donor human islets. To prevent islet graft rejection, patients will be treated with the standard immunosuppressive regimen.

The primary endpoint of the study is to assess the safety of the Sernova Cell Pouch(TM) in adult participants with Type-1 diabetes receiving islet transplantation for the first time. This endpoint will be assessed just prior to islet transplantation and one month thereafter.

The secondary endpoint of the study is to determine the proportion of subjects implanted with the Cell Pouch(TM) and transplanted with islets who achieve and maintain insulin independence as measured three months post-final islet transplantation.

In addition, the study will provide preliminary data on the efficacy of the Cell Pouch(TM) to maintain adequate immunological protection against both allo- and autoimmunity of islet transplant recipients.

Following assessment of primary and secondary endpoints, patients will be followed for a minimum of three years to assess long-term safety and efficacy of the Cell Pouch(TM). It should also be noted that the study allows for interim analysis of the data at various study time points.

"The initiation of this study marks a significant milestone for Sernova, and is the result of years of hard work and dedication from our company's staff and collaborators," said Dr. Philip Toleikis, President and CEO of Sernova Corp. "We have developed the subcutaneous Cell Pouch(TM) for Sernova's first clinical application, insulin- dependent diabetes, as an alternative site for islet transplantation that may allow for safer, more efficient engraftment of islets and potential improved long-term insulin independence using a marginal islet mass. We are pleased to have Dr. Shapiro and his team conduct this study at this world class institute for islet transplantation."

The Cell Pouch(TM) is a proprietary medical device that, once implanted subcutaneously, incorporates with tissue and microvessels. It has been shown in multiple preclinical studies to provide a safe environment for transplantation, as well as long-term survival and efficacy of therapeutic cells. Sernova's goals for the diabetes indication include making the Cell Pouch(TM) available to a wider group of patients than currently possible with intraportal delivery of islets. Sernova also plans to make the Cell Pouch(TM) available as a natural, improved site for non- primary- derived, insulin-secreting cells for long-term function to enable large numbers of patients with insulin- dependent diabetes to be treated without limitation to availability of cells.

About Sernova

Sernova Corp. is a clinical stage health-sciences company focused on commercializing medical technologies. Sernova is currently developing a platform technology for a number of serious disease indications, starting with a novel treatment for insulin-dependent diabetes, using the novel Cell Pouch System(TM) for transplantation and long- term survival of therapeutic cells and its patented Sertolin(TM) cell technology which can provide an immune-protected local environment for therapeutic cells.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 info@sernova.com www.sernova.com

Tony Russo, Ph.D. Russo Partners, LLC Tel: (212) 845-4251 tony.russo@russopartnersllc.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. 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.

Press Release Communiqué de presse - August 15, 2012 15 August, 2012

World First - Islet Transplant Into Man Using Sernova's Cell Pouch™ For Treatment Of Diabetes

-Company to Host Conference Call at 9 a.m. EDT, Today, Aug. 16, to Discuss Clinical and Business Developments-

Source: Sernova Corp

LONDON, ONTARIO and EDMONTON, ALBERTA (Marketwire -- August 16, 2012) -- Sernova Corp. ("Sernova" or the "Company") (TSX VENTURE: SVA - News) and the University of Alberta today announced the treatment of the first patient with insulin- producing islets transplanted into Sernova's Cell Pouch(TM) in a Phase I/II clinical study to treat Type-1 diabetes led by Dr. James Shapiro, Professor of Surgery and Medicine, University of Alberta and Director, Clinical Islet Transplant Program. Sernova will host a conference call at 9 a.m. EDT, today, Aug. 16, 2012, to discuss the company's clinical and business developments.

"The Sernova Cell Pouch(TM) implantation and transplantation processes are simple, rapid minimally invasive procedures, conducted on an outpatient basis under local anesthesia," said Dr. Shapiro. "This offers substantial potential benefit over the Edmonton protocol and the ease of use provides an opportunity for the Cell Pouch(TM) to become the standard of care for people with diabetes if it proves to be effective in these initial trials."

The objectives of the human clinical trial are to assess the safety and efficacy of the Cell Pouch(TM) with transplanted islets in up to 20 patients with Type- 1 diabetes. The study is sponsored by Sernova Corp and the University of Alberta. In the study, patients who have met the enrolment criteria and provided informed consent are implanted with the Cell Pouch(TM) prior to transplantation of donor human islets. To prevent islet graft rejection, patients in this study are treated with the best in class standard of care immunosuppression protocol. Interim analysis of the data from this clinical study is expected during H1, 2013. Further information on the trial may be found at www.clinicaltrials.gov (Identifier: NCT01652911).

"The Cell Pouch(TM) is a breakthrough technology which has the potential to significantly improve the lives of people living with chronic diseases such as diabetes," said Philip Toleikis, Ph.D., President and CEO of Sernova Corp. "Supported by Sernova's strong preclinical results, the treatment of patients in this clinical trial of the Cell Pouch(TM) further advances our vision for the future of providing millions of diabetic patients with the Cell Pouch(TM), and an unlimited source of insulin- producing cells protected with a local anti-rejection technology."

Conference Call

The conference call to discuss Sernova's clinical and business developments may be accessed by dialing 866- 532-1852 for domestic callers and +443-842- 7644 for international callers. Please specify to the operator that you would like to join the "Sernova conference call" or "conference ID: 21155379."

About The Cell Pouch(TM)

The Cell Pouch(TM) is a proprietary medical device that, following subcutaneous implantation, incorporates with tissue and microvessels forming a natural environment for transplantation of therapeutic cells. Multiple preclinical studies demonstrated the Cell Pouch(TM) to provide a safe environment for transplantation, as well as long- term efficacy of therapeutic cells. Sernova's goals for the Cell Pouch(TM) for diabetes include providing a safe and natural site for islets to significantly increase the number of patients currently treated with intraportal delivery of donor islets and to provide a safe environment for virtually unlimited available sources of insulin-secreting cells such as insulin-producing stem cells and xenogeneic cells. This vision combined with local anti-rejection protection of the cells could enable millions of patients with insulin- dependent diabetes to be treated without limitation to availability of cells.

About Sernova

Sernova Corp. is a clinical stage health-sciences company focused on commercializing medical technologies. Sernova is currently developing a platform technology for a number of serious disease indications, starting with a novel treatment for insulin-dependent diabetes, using the novel Cell Pouch System(TM) for transplantation and long- term survival of therapeutic cells and its patented Sertolin(TM) cell technology which can provide an immune-protected local environment for therapeutic cells.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 info@sernova.com www.sernova.com

Dr. James Shapiro MD PhD FRCS Professor of Surgery and Medicine, University of Alberta Director, Clinical Islet Transplant Program Tel: (780) 407-7330

Tony Russo, Ph.D. Russo Partners, LLC Tel: (212) 845-4251 tony.russo@russopartnersllc.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. 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.

Press Release Communiqué de presse - February 28, 2013 28 February, 2013

Sernova and Centre for Commercialization of Regenerative Medicine Partner To Treat Chronic Diseases

February 28, 2013 (TORONTO and LONDON, ON) -- The Centre for Commercialization of Regenerative Medicine (CCRM) is pleased to announce the addition of Sernova Corp. ("Sernova" or the "Company") (TSX VENTURE: SVA - News) to its member-based industry consortium. Sernova's combination of immuno-protective technology and therapeutic cells for the treatment of chronic diseases advances CCRM's goal of developing innovative cell- based product.

"Sernova's technology for transplanting therapeutic cells into an implanted medical device for the treatment of diabetes and other chronic diseases goes hand- in-hand with our strategy of translating cell-based medical discoveries into commercial products and therapies," says Dr. Michael May, CEO of CCRM. "Sernova's expertise in the area of cell therapy will bring great value to CCRM's core development platforms and to other consortium members."

CCRM is working with its industry consortium to address real-life bottlenecks in cell-based product pipelines. Its industry consortium now numbers over 20 members. These companies represent the key sectors of the industry: therapeutics, devices, reagents, and cells as tools.

"Becoming a member of CCRM offers the opportunity for further validation for our technology and demonstrates our company's commitment to the advancement of our Cell Pouch System(tm) as an effective, safe, long- term and convenient therapeutic option for the treatment of chronic diseases," says Dr. Philip Toleikis, President and CEO of Sernova Corp. "We will work together with the other consortium members to achieve CCRM's objectives in treating and managing devastating diseases such as diabetes."

CCRM has built three core development platforms: cell reprogramming and engineering; cell manufacturing; and, biomaterials and devices to carry out projects commissioned by academia and industry. CCRM has a fully resourced, 6,000 square foot development facility where all development work takes place.

Please visit www.ccrm.ca/industry-consortium to see a complete list of CCRM's members.

About the Centre for Commercialization of Regenerative Medicine (CCRM) CCRM, a Canadian not-for-profit organization funded by the Government of Canada's Networks of Centres of Excellence program and six academic partners, supports the development of technologies that accelerate the commercialization of stem cell- and biomaterials- based technologies and therapies. A network of academics, industry and entrepreneurs, CCRM aims to translate scientific discoveries into marketable products for patients. CCRM launched in Toronto's Discovery District on June 14, 2011.

About Sernova Sernova Corp. is a clinical stage health-sciences company focused on commercializing medical technologies. Sernova is currently developing a platform technology for a number of serious disease indications, starting with a novel treatment for insulin-dependent diabetes, using the novel Cell Pouch System(TM) for transplantation and long- term survival of therapeutic cells and its patented Sertolin(TM) cell technology, which can provide an immune-protected local environment for therapeutic cells.

For more information on CCRM, please contact: Stacey Johnson Manager, Communications Centre for Commercialization of Regenerative Medicine 647-309-1830 stacey.johnson@ccrm.ca www.ccrm.ca

For further information on Sernova, please contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 info@sernova.com www.sernova.com

Tony Russo, Ph.D. Russo Partners, LLC Tel: (212) 845-4251 tony.russo@russopartnersllc.com

Press Release Communiqué de presse - September 09, 2013 9 September, 2013

Sernova And Medicyte To Collaborate On Cell-Based Therapy To Treat Haemophilia

* Novel Approach to Address Unmet Need for an Effective Therapy *

LONDON, ONTARIO and HEIDELBERG, GERMANY-- (Marketwire -- September 10, 2013) - Sernova Corp. (TSX- V: SVA) and Medicyte GmbH, today announced that the companies have entered into a Material Transfer Agreement (MTA) to jointly evaluate the use of Medicyte's upcyte® cells in Sernova's Cell Pouch(TM) for the treatment of patients with haemophilia A.

The two companies have also entered into a nonbinding term sheet outlining the general terms of a collaboration for the pre-clinical and clinical development of the novel Cell Pouch(TM)/upcyte® combination product for the treatment of haemophilia A. The parties intend to complete negotiations of a definitive agreement while initial research is being carried out under the terms of the MTA.

"The joint development program with Medicyte is further indication that our Cell Pouch(TM) technology is versatile and has high potential to be employed for the treatment of a range of chronic diseases," said Dr. Philip Toleikis, President and CEO Sernova Corp. "We are in line with our strategy to expand the testing of the Cell Pouch(TM) in various indications by collaborating with leading cell-based therapy companies, such as Medicyte."

Dr. Joris Braspenning, CEO of Medicyte, added, "There is a great unmet medical need for the treatment of severe haemophilia A. We believe that Medicyte's upcyte® cells being sheltered in Sernova's Cell Pouch(TM) represent a promising combination of technologies to produce effective levels of Factor VIII, and to prevent excessive bleeding episodes of patients suffering haemophilia A. Together with Sernova, we are looking forward to evaluating the potential of a combined product."

Haemophilia A is the most common form of haemophilia and results from a deficiency of clotting Factor VIII to a level of less than 1% of the normal blood concentration. Haemophiliacs have prolonged bleeding which in areas such as the brain can be fatal or inside joints can be permanently debilitating. Approximately 20,000 people in the United States have the moderate or severe form of haemophilia A, as well as approximately 2,500 in Canada and 10,000 in Europe. Though there is no cure for haemophilia A, it is currently controlled with regular injections of recombinant clotting Factor VIII. Annual costs for the treatment of the disease may range from $60,000 to $260,000 per patient for a total cost of between $2-4B per year in North America and Europe.

Development of a product capable of producing an effective level of Factor VIII within the Cell Pouch(TM) environment has the potential to provide haemophilia A patients with better protection against dangerous episodes of excessive bleeding and greatly reduce annual therapy costs.

Continuation of the parties' joint studies beyond the MTA is subject to negotiation and execution of a definitive collaboration agreement.

About Medicyte

Medicyte is specialised in the controlled generation and standardisation of human primary cell products in virtually unlimited quantities and of highest quality for cell therapy and cell-based R&D. Medicyte's proprietary technologies upcyte® and vericyte® enable researchers to expand human cells from different donors and from multiple tissues in a standardized procedure, thereby making these cells for the first time commercially available in high numbers and consistent quality. Beside their therapeutic applications, pharmaceutical companies are using upcyte® and vericyte® products for in vitro assays and ADMET testing.

For further information contact: Joris Braspenning, Ph.D., CEO Tel: +49 (6221) 72925-30 j.braspenning@medicyte.com www.medicyte.com

About Sernova Sernova Corp. is a clinical stage health-sciences company focused on commercializing medical technologies. Sernova is developing a platform technology based on the Cell Pouch(TM), Sertolin(TM) and therapeutic cells, for a number of chronic diseases, including insulin-dependent diabetes as a first indication and other cell therapies for diseases such as parathyroid disease, haemophilia, and Parkinson's disease. Sernova's goals for the Cell Pouch(TM) for diabetes include increasing the number of patients currently treated with intraportal delivery of donor islets and to provide a safe environment for sources of unlimited insulin-secreting cells such as insulin-producing stem cells and xenogeneic cells. This vision combined with local anti-rejection protection of the cells could enable millions of patients with insulin-dependent diabetes to be treated without limitation to availability of cells.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 info@sernova.com www.sernova.com

Tony Russo, Ph.D. Russo Partners, LLC Tel: (212) 845-4251 tony.russo@russopartnersllc.com

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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including availability of funds, the results of financing efforts, the results of research and product development activities -- that could cause actual results to differ materially from Sernova's expectations are disclosed in Sernova's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Press Release Communiqué de presse - April 21, 2014 21 April, 2014

Sernova’s Cell Pouch™ Diabetes Clinical Trial Demonstrates Interim Safety and Biocompatibility

Sernova’s Cell Pouch with insulin-producing islets is safe and biocompatible in patients with unstable diabetes

Source: Sernova Corp FOR RELEASE April 22nd, 2014, 6:00 a.m. EDT LONDON, ONTARIO--(Marketwire – April 22nd, 2014) - Sernova Corp. (TSX-V: SVA), a clinical stage company developing medical technologies for the long-term treatment of chronic metabolic diseases including diabetes, blood disorders such as haemophilia and other diseases, today announced interim results in an ongoing type 1 diabetes human clinical trial with the Company’s Cell Pouch(TM).

Sernova’s human clinical trial is designed to assess the safety and efficacy of the Cell Pouch in subjects with unstable diabetes receiving an islet transplant. Interim study results in the first group of patients support that the implanted Cell Pouch, transplanted with insulin-producing islets is showing longer-term safety and biocompatibility with one of the patients beyond the 180 day time point.

Encouraging early results up to 30 days post-islet transplant were presented at the International Pancreas and Islet Transplantation Congress in September, 2013. These results showed after implantation under the skin, the Cell Pouch is safe and biocompatible. Following islet transplantation, the islets living within a natural tissue matrix were supported with a rich supply of blood vessels, similar to the pancreas. Of further importance, the islets were shown to make insulin, somatostatin and glucagon – key hormones in the control of blood sugar levels. The ongoing study is being conducted with Dr. James Shapiro as principal investigator at the University of Alberta Health Sciences Centre in Edmonton, Alberta.

"The fact that the Cell Pouch continues to exhibit both safety and biocompatibility in longer term follow-up is an important milestone in the early clinical testing of this device, and provides encouragement that human islets transplanted within the device may provide the opportunity to change the standard of care of patients with diabetes," said Dr. James Shapiro. “I look forward to the ongoing results of the investigation as the study progresses."

The study, entitled “A Phase I/II Study of the Safety and Efficacy of Sernova's Cell Pouch for Therapeutic Islet Transplantation,” is an open label, non- randomized, Phase I/II safety and efficacy study of up to 20 patients with type 1 diabetes undergoing allograft pancreatic islet transplantation. Patients who have met the enrolment criteria and provided informed consent are implanted with the Cell Pouch approximately 2-24 weeks prior to transplantation of donor human islets. To prevent islet graft rejection, the standard of care immunosuppressive regimen is provided.

The primary endpoint of the study is to assess the safety of the Sernova Cell Pouch in these patients just prior to islet transplantation, following islet transplantation and at various points during follow up. The secondary endpoint of the study, efficacy, is to determine the proportion of subjects implanted with the Cell Pouch and transplanted with islets who achieve and maintain insulin independence. Patient follow up occurs for a minimum of three years to assess long-term safety and efficacy.

“In the second half of 2014, we expect to provide further preliminary safety and efficacy data”, remarked Dr. James Shapiro.

"This interim update by Dr. Shapiro suggests we are making positive strides forward. The Cell Pouch could potentially be a game changer for patients suffering from this debilitating disease. Indeed, this is the result of years of hard work and dedication from our company's staff and collaborators," said Dr. Philip Toleikis, President and CEO of Sernova Corp. "We have developed the subcutaneous Cell Pouch for Sernova's first clinical application, insulin- dependent diabetes, as an alternative site for islet transplantation that may allow for safer, more efficient engraftment of islets and potential improved long-term insulin independence using a marginal islet mass. What adds further credence to the Cell Pouch’s mechanism of action is the application of the Cell Pouch for other clinical indications which Sernova is undertaking”, added Dr. Toleikis."

About the Cell Pouch The Cell Pouch is a proprietary, scalable, biocompatible medical device, that once implanted subcutaneously, incorporates with the patient’s tissue and microvessels. The Cell Pouch is contract manufactured (ISO13485) to meet international regulatory standards. Sernova’s research has demonstrated that when the Cell Pouch is inserted under the skin, it forms an ideal environment, rich in microvessels and tissue matrix for the placement and function of therapeutic cells. The Cell Pouch is currently being evaluated in clinical trials at the University of Alberta with Dr. James Shapiro as principal investigator in patients with type 1 diabetes receiving an islet transplant.

It has been shown in multiple preclinical studies to provide a safe environment for transplantation, as well as for the long-term survival and efficacy of therapeutic cells. Sernova's goals for the diabetes indication include making the Cell Pouch available to a wider group of patients than currently possible with intraportal delivery of islets. Sernova also plans to make the Cell Pouch available as a natural, improved site for non-primary-derived, insulin-secreting cells. This may enable long-term treatment in large numbers of patients with insulin- dependent diabetes without limitation to availability of donor-derived cells.

About Sernova Sernova Corp is a clinical stage regenerative medicine company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including haemophilia and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch, an implantable medical device for therapeutic cells (donor, xenogeneic or stem cells) which then release proteins and/or hormones as required.

About Clinical Islet Transplantation Program Please view www.islet@ca for more information on the Clinical Islet Transplantation Program at the University of Alberta. For further information contact:

Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca

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. 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 - February 11, 2015 11 February, 2015

Sernova is Awarded Patents in Multiple Countries for Cell Pouch™ and Therapeutic Cell Transplantation Technologies

Source: Sernova Corp

February 12, 2015, 6:00 a.m. EDT

LONDON, ONTARIO (Marketwire – February 12, 2015) - Sernova Corp. (TSX-V: SVA), today announced that the Patent Offices in China, Israel, Singapore and New Zealand have issued Notices of Allowance and issued patents to Sernova for its patent application entitled "Methods and Devices for Cellular Transplantation.”

These patents help protect Sernova’s entire Cell Pouch(TM) system, including the Cell Pouch(TM) itself, as well as the Cell Pouch(TM) combined with therapeutic cells and surgical tools for cell transplantation. These issued patents, in addition to patent rights already granted or actively being pursued in other countries, will provide Sernova with patent protection through 2030.

“Patent applications on Sernova’s technologies are being pursued in multiple countries around the world and we are confident that additional patents will be granted on an international basis,” stated Dr. Philip Toleikis, Sernova’s President and CEO.

"Potential strategic partners, including major pharmaceutical companies place significant value in issued patents,” stated Dr. Philip Toleikis, Sernova’s President and CEO. He continued, “Since 2009, we have been relentless at carrying out our strategy to secure exclusive patent rights on our core technologies, to develop an international footprint for our products.”

About Sernova

Sernova Corp is a clinical stage regenerative medicine company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch(TM), an implantable medical device for therapeutic cells (donor, xenogeneic or stem cells) which then release proteins and/or hormones as required. The therapeutic cells are protected from immune attack by Sernova’s proprietary local immune protection technology.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca

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. 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.

Press Release Communiqué de presse - April 22, 2015 22 April, 2015

Sernova Receives Issued Patent in the United States for its Cell Pouch™ and Therapeutic Cell Transplantation Technologies

Sernova Receives Issued Patent in the United States for its Cell Pouch(TM) and Therapeutic Cell Transplantation Technologies

Sernova’s cell transplantation and local immune protection patent families are secured and protected to maximize stakeholder value

Source: Sernova Corp

April 23, 2015, 6:00 a.m. EDT

LONDON, ONTARIO (Marketwire – April 23, 2015) - Sernova Corp. (TSX-V: SVA), is pleased to announce that the U.S. Patent and Trademark Office (USPTO) has issued Sernova a patent that helps protect Sernova’s entire Cell Pouch System (TM).

This patent entitled "Methods and Devices for Cellular Transplantation” includes claims covering implantable polymer devices such as the Cell Pouch(TM) itself, as well as methods using the same combined with therapeutic cells such as self‐cells, donor cells, stem cells and genetically modified cells as well as surgical tools for cell transplantation. This new patent provides Sernova with patent protection through 2030. Sernova currently has over 55 issued patents and patent pending applications worldwide covering its therapeutic cell transplantation and local immune protection technologies.

The USPTO grants a patent after a vigorous search of the existing technology and a determination that a claimed invention is novel and nonobvious over that technology. Gaining such patent protection is commercially important because the United States represents one of the world’s largest markets for Sernova’s various therapeutic products in development.

“Since 2009, we have pursued patent rights around the world for our cell transplantation and local immune protection technologies and we will continue our rigorous strategy to secure and protect our proprietary technologies,” stated Dr. Philip Toleikis, Sernova’s President and CEO.

Within its patented technological armamentarium, Sernova uses biocompatible polymers to develop unique, highly vascularized subcutaneous tissue chambers for the placement, survival and long term function of therapeutic cells. Over the past six years, Sernova has demonstrated an excellent safety profile and efficacy benefit for its technologies in small and large animal models of disease and, more importantly, in humans with severe diabetes where transplanted therapeutic cells become highly vascularized and able to produce their therapeutic product.

About Sernova

Sernova Corp is a clinical stage regenerative medicine company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch(TM), an implantable medical device for therapeutic cells (donor, xenogeneic or stem cells) which then release proteins and/or hormones as required. The therapeutic cells are protected from immune attack by Sernova’s proprietary local immune protection technology.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca

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. 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.

Press Release Communiqué de presse - September 09, 2015 9 September, 2015

Sernova Secures Commercial Rights to Proprietary Stem Cell Derived Technologies

– UHN (University Health Network) agreement transitions Sernova to an integrated therapeutic cell regenerative medicine Company –

Source: Sernova Corp

September 10, 2015, 6:00 a.m. EDT

LONDON, ONTARIO – (Marketwire – September 10, 2015) – Sernova Corp. (TSX-V: SVA) (FSE: PSH), a clinical stage company developing medical technologies for the long-term treatment of chronic metabolic diseases including diabetes, blood disorders such as haemophilia and other diseases, announced today it has signed a license agreement with the University Health Network (UHN) of Toronto, Canada to gain exclusive worldwide rights to certain patent-pending technologies developed by distinguished UHN researchers, Dr. Cristina Nostro and Dr. Gordon Keller. These technologies relate to the development of stem cells into glucose-responsive therapeutic cells for the treatment of patients with insulin-dependent diabetes.

”This agreement provides us with a proprietary source of stem cell derived glucose responsive therapeutic cells. When placed within Sernova’s prevascularized Cell Pouch(TM), and protected locally from immune system attack, we believe that Sernova has the potential to provide a significant break-through in the quality of treatment for the millions of people suffering from insulin-dependent diabetes, said Dr. Philip Toleikis, Sernova’s President and CEO”. “Such individuals could essentially be liberated from their current onerous daily regime of multiple blood glucose testing and insulin administration delivered through injections or electronic means which is expected to materially improve their quality of life, prevent or reduce abnormal glucose complications, and reduce short term and longer term health care costs.”

The current standard of care for islet transplantation is limited to diabetic patients with severe hypoglycemia unawareness due to both a lack of cadaveric donor islets and a requirement for life-long use of toxic anti- rejection drugs.

“We believe that a virtually unlimited supply of glucose responsive therapeutic cells could be generated from ethically derived stem cells which, if shown to have positive safety and efficacy in clinical trials, could be used to treat millions of patients,” commented Delfina Siroen, Sernova’s head of Research and Development. “The addition of the UHN stem cell technologies moves Sernova one step further toward being able to provide a full solution (device, unlimited cell supply and local immune protection) for cell therapy applications.”

About Diabetes The worldwide incidence of diabetes is approximately 370 million. Sernova’s potential addressable market which includes Type-1 patients and those Type-2 patients requiring insulin is over 30 million people. Although there is currently no cure for diabetes, blood glucose levels are being controlled with frequent blood glucose testing combined with regular injections of insulin via syringe or insulin pump; however, blood glucose control using this treatment approach can be poor, leading to side effects such as heart, kidney and eye diseases as well as ischemia-induced amputations. According to the Juvenile Diabetes Research Foundation, annual health care costs for the treatment of diabetes and its debilitating side effects are estimated to be over US $245 billion per year in North America (http://jdrf.org/).

About Sernova Sernova Corp is a clinical stage regenerative medicine company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch(TM), an implantable medical device for therapeutic cells (donor, xenogeneic or stem cell derived therapeutic cells) which then release proteins and/or hormones as required.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca

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, which include our beliefs about the functionality of the Cell Pouch and our expectations of the potential benefits of the license agreement, are based on the beliefs, estimates and opinions of Sernova’s management on the date such statements were made. 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.

Press Release Communiqué de presse - December 20, 2015 20 December, 2015

Sernova Awarded Europe’s Prestigious Horizon 2020 Grant to Fund Development of Cell-based Hemophilia Therapeutic Product into the Clinic

Distinguished European consortium awarded approximately $8.5 Million CAD by the European Commission via its Horizon 2020 Program to partner advanced cell based Factor VIII therapy in collaboration with Sernova and its Cell Pouch(TM) device technologies

Source: Sernova Corp

December 21, 2015, 6:00 a.m. EDT

LONDON, ONTARIO – (Marketwire – December 21, 2015) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical stage regenerative medicine company, announced today that the European Commission’s Horizon 2020 program has awarded a Euro 5.6M ($8.5M CAD) grant to a consortium consisting of Sernova Corp and five European academic and private partners to advance development of a GMP clinical grade Factor VIII releasing therapeutic cell product in combination with Sernova’s Cell Pouch(TM) for the treatment of severe hemophilia A, a serious genetic bleeding disorder caused by missing or defective factor VIII in the blood stream.

The current market for factor VIII is US$5.0B/year, with a cost of up to US$260,000 per patient each year. Current standard of care involves regular infusions of factor VIII, which achieves normal factor VIII blood levels for only a few hours at a time. The product being developed by the HemAcure consortium will seek to provide constant delivery of Factor VIII to normalize blood levels in an effort to significantly improve the quality of life of patients suffering from hemophilia A.

The product being developed by the HemAcure consortium is expected to be highly disruptive to the current standard of care treatments for hemophilia A. The therapeutic goal of the product is to use the patient’s own cells corrected for the factor VIII gene. These cells placed in the implanted Cell Pouch will release factor VIII on a continual basis at a rate that would be expected to significantly reduce disease-associated hemorrhaging and joint damage. The constant delivery of factor VIII is also expected to reduce or eliminate the need for multiple weekly infusions which is the current standard of care using plasma-derived or recombinant, genetically engineered factor VIII for the prophylactic treatment of hemophilia A.

“The therapeutic potential to have a constant release of factor VIII from a hemophilia A patient’s own genetically corrected cells placed within the implanted Cell Pouch would be a very significant advance in the treatment of hemophilia A,” remarked Dr. David Lillicrap, MD, FRCPC Professor Department of Pathology and Molecular Medicine Queens University, Canada Research Chair in Molecular Hemostasis and member of the HemAcure Scientific Advisory Board. “Sernova’s Cell Pouch with its vascularized tissue lined chambers for therapeutic cells, which has already been proven for islet safety and survival in human clinical assessment of diabetes, is an ideal, fully scalable first-in-class medical device suitable for the potential treatment of hemophilia,” added Dr. Lillicrap.

“It has been exciting working together with the highly skilled team of experts in the HemAcure consortium in hemophilia and cell therapy. The scientific strength of this consortium was evident from the inception of the idea through the development and awarding of the grant to the stimulating kick off meeting,” said Delfina Siroen, Sr. Director of Sernova’s Research and Development team. “In a very short time, Sernova’s hemophilia program has achieved great strides and the addition of this European grant and team will ensure the best possible outcome for this program to the clinic,” continued Ms. Siroen.

The preliminary preclinical proof of concept data used as a basis to support the foundation of the grant was generated in a collaborative agreement between Medicyte GmbH under the FP7 ReLiver project, grant agreement 304961 and Sernova Corp where cryopreserved cells with the ex vivo inserted corrected gene for factor VIII were successfully shipped and assessed in Sernova’s Cell Pouch at its headquarters in Canada. Regarding Sernova’s participation in the consortium, the review of the HemAcure grant proposal stated the following, “Participation of the third country partner (Sernova Corp) is essential for carrying out the (program). This is justified by the fact that the partner in question is the one who possesses the technology that will be the basis of the whole proposal, and which will perform all the in vivo studies. Sernova uses a scalable, contract manufactured, proprietary patented worldwide implantable medical device (Cell Pouch) transplanted with therapeutic cells. (It) has been in development for more than six years and has shown success in multiple small and large animal preclinical models and is now in a clinical trial for another therapeutic indication. This Cell Pouch device is the only such device that when implanted under the skin is proven to become incorporated with blood vessel enriched tissue-forming chambers for the placement of therapeutic cells. This implies that the Canadian partner (Sernova) is an essential partner for the success of this project.”

About Hemophilia A

People with Hemophilia have prolonged abnormal bleeding as a result of trauma. Hemophilia A, also called factor VIII (FVIII) deficiency is the most common form of Hemophilia and is a genetic disorder caused by missing or defective factor VIII, a blood clotting protein. Severe hemophilia occurs in about 60% of cases where the deficiency of Factor VIII is less than 1% of normal blood concentration. While it is passed down from parents to children, about 1/3 of cases are caused by a spontaneous change in the gene. According to the US Centers for Disease Control and Prevention hemophilia occurs in about 1 in 5,000 births. If the prolonged bleeding occurs in the brain of a person with hemophilia, it can be fatal. Prolonged bleeding in joints can cause inflammatory responses and permanent joint damage. Approximately 20,000 people in the United States and 10,000 in Europe have the moderate or severe form of hemophilia A, as well as approximately 2,500 in Canada. All races and ethnic groups are equally affected by hemophilia A. Though there is no cure for the disease, it can be controlled with regular infusions of recombinant clotting Factor VIII. Annual costs for the treatment of the disease for each patient may range from $60,000 to $260,000 US for a total cost of between $2-5B per year in North America and Europe.

About Horizon 2020 Programme

Horizon 2020 is the biggest EU Research and Innovation program ever with nearly Euro 80 billion of funding available over seven years (2014 to 2020). It promises more breakthroughs, discoveries and world-firsts by taking great ideas from the lab to the market. The project is funded as part of societal challenges “personalizing health and care” in a specific call about innovative treatments and technologies. New therapies, such as gene or cell therapies, often require technological innovation in the form of development of specific component tools and techniques such as isolation and multiplication of a cell or development of a scaffold, delivery of the therapy to the patient and for following-up the effect of the therapy in the patient. In particular, achieving therapeutic scale production and GMP standards at reasonable cost is often underestimated. The European Union aims to improve the development of advanced methods and devices for targeted and controlled delivery, and to bring these innovative treatments to the patient.

About HemAcure

HemAcure is the name of the consortium developing a product for hemophilia A. This project has received funding from the European Union's Horizon 2020 research and innovation program under grant agreement No 667421. The consortium members include the University Hospital Wurzburg (Coordinating Institute), Integrierte Management Systeme IMS e.K., Universita del Piemonte Orientale “Amedeo Avogadro,” Loughborough University, GABO:mi Gesellschaft für Ablauforganisation: milliarium mbH & Co. and Sernova Corp. The main objective of the HemAcure project is to develop and refine the tools and technologies for a novel ex vivo prepared cell based therapy within Sernova’s prevascularized Cell Pouch to treat this bleeding disorder that should ultimately lead to improved quality of life of the patients.

About Sernova

Sernova Corp is a clinical stage regenerative medicine Company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch(TM), an implantable medical device and therapeutic cells (donor, xenogeneic or stem cell derived therapeutic cells) which then release proteins and/or hormones as required.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca

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, which include our beliefs about the functionality of the Cell Pouch and our expectations of the potential benefits of the consortium and the Horizon 2020 hemophilia project, are based on the beliefs, estimates and opinions of Sernova’s management on the date such statements were made. 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.

Press Release Communiqué de presse - January 25, 2016 25 January, 2016

Sernova Announces Agreement with CCRM to Produce Specialized Cells for the Treatment of Diabetes

CCRM to establish, optimize and validate methods for producing Sernova’s transformative cell-based therapies for Type-1 diabetes

Source: Sernova Corp

January 26, 6:00 a.m. EDT

LONDON, ONTARIO – (Marketwire – January 26, 2016) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical stage company developing medical technologies for the long-term treatment of chronic diseases including diabetes and hemophilia, announced today it has entered into a service agreement with the Centre for Commercialization of Regenerative Medicine (CCRM) to establish, optimize and validate Sernova’s licensed technology for creating stem cell derived therapeutic cells that produce insulin and are glucose responsive.

“Sernova’s Cell Pouch System(TM) is a novel, preclinically validated and clinically tested platform for multiple types of therapeutic cells, including human islets,” said Dr. Philip Toleikis, President and CEO Sernova Corp. “Sernova’s CCRM partnership with CCRM’s expertise in developing production processes for cellular therapies is an important step in Sernova’s plan to commercialize an unlimited supply of glucose responsive, insulin producing cells for the Cell Pouch System. Sernova continues to seek out and evaluate optimal unlimited cell sources both internally developed and through corporate partnerships involving stem cell derived, and xenogeneic cell sources. Our manufacturing partnership with CCRM will provide the ability for the scale up production required to ensure successful commercialization of Sernova’s cellular therapies for diabetes,” added Dr. Philip Toleikis.

CCRM is a unique not-for-profit group that is solely focused on developing and commercializing cell therapy and regenerative medicine technologies. Sernova is a member of CCRM’s industry consortium, a group of nearly 50 companies formed to address bottlenecks in cell therapy and regenerative medicine product pipelines by enabling industry to engage with CCRM’s broad network of researchers and institutions. Industry consortium members represent key sectors in regenerative medicine – therapeutics, devices, reagents and cells as tools – and tremendous industry experience.

"As a member of CCRM’s industry consortium, Sernova is a valued partner in our quest to develop global breakthroughs in regenerative medicine,” remarked Michael May, President and CEO of CCRM. “Commercializing a regenerative medicine therapy for diabetes – the goal for Sernova and CCRM – has the potential to disrupt and transform current standard of treatment. We are excited about the timing of this partnership,” added Dr. May, “as it is our expectation that projects like this become candidates for the new advanced manufacturing initiative that we announced during a visit by Prime Minister Trudeau in mid-January.”

About Sernova

Sernova Corp. is a clinical stage regenerative medicine Company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch System, an implantable medical device and therapeutic cells (donor, xenogeneic or stem cell derived therapeutic cells) which then release proteins and/or hormones as required.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca

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, which include our beliefs about the functionality of the Cell Pouch System and our cell technologies, and manufacturing capabilities of CCRM are based on the beliefs, estimates and opinions of Sernova’s management on the date such statements were made. 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.

Press Release Communiqué de presse - February 04, 2016 4 February, 2016

Sernova Honoured as Member of the “2016 TSX Venture 50” and Ranked #4 in Life Sciences and Clean Technologies

Sernova resides in the top 3% of TSX Venture Exchange Companies in market performance

Source: Sernova Corp

February 5, 6:00 a.m. EDT

LONDON, ONTARIO – (Marketwire – February 5, 2016) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical stage company developing medical technologies for the long-term treatment of chronic diseases including diabetes and hemophilia, announced today it has received the ranking of fourth in the category of Life Sciences and Clean Technologies and has been selected as member of the “2016 TSX Venture 50” Companies. This is a prestigious group of top market performers from among the 1,791 companies listed on the Toronto Venture Exchange as of December 31, 2015. "We are honoured to be distinguished by the TSX from amongst all TSX Venture Companies and are appreciative of our investors who have rewarded our progress as acknowledged through the TSX Venture Exchange,” remarked Dr. Philip Toleikis, President and CEO. “We congratulate our peer companies in this category who have shown superior results in key metrics of market performance such as market capitalization growth, share price appreciation and trading volume – with Sernova providing a return of 118% in market cap appreciation in 2015. The shares of these companies also enjoyed a liquid market, with a total of 3.0 billion shares traded over the course of 2015,” added Dr. Toleikis.

“Sernova’s ongoing development of its platform technologies for cell therapy, the advancement of it programs in diabetes and hemophilia, and its focus on forging mutually beneficial pharmaceutical collaborations will, we believe, make 2016 another rewarding year for our shareholders and investors,” stated Frank Holler, Sernova Chairman. “This TSX Venture recognition adds to our growing profile in the public markets and we are most appreciative of receiving this distinction," added Mr. Holler.

About Sernova

Sernova Corp. is a clinical stage regenerative medicine Company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch System, an implantable medical device and therapeutic cells (donor, xenogeneic or stem cell derived therapeutic cells) which then release proteins and/or hormones as required.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca

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, which include our beliefs about the functionality of the Cell Pouch System and our cell technologies, are based on the beliefs, estimates and opinions of Sernova’s management on the date such statements were made. 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.

Press Release Communiqué de presse - July 11, 2016 11 July, 2016

Sernova and JDRF Announce Funding of Joint Research Collaboration to Advance Human Clinical Trials for the Treatment of Hypoglycemic Unawareness Patients with Severe Type 1 Diabetes

$2.45 million USD awarded to advance Sernova’s Cell Pouch System(TM) (CPS) technologies in a US FDA Clinical Trial with Initiation Scheduled for the Second Half of 2016

Source: Sernova Corp July 12, 2016, 6:00 a.m. EDT

LONDON, ONTARIO – (Marketwire – July 12, 2016) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical stage company developing disruptive regenerative medicine technologies for the long-term treatment of chronic diseases including diabetes and hemophilia, is pleased to announce today it has entered into a research funding agreement with JDRF, the leading global organization funding and advocating for type 1 diabetes (T1D) research. The purpose of the funding is to advance human clinical trials of Sernova’s CPS technologies for treatment of hypoglycemia unawareness patients with severe type 1 diabetes. T1D is a life-threatening disease in which the body's immune system mistakenly attacks and kills the pancreatic cells that produce insulin—a hormone that is essential for life because of its role to help the body use glucose.

JDRF will provide Sernova up to $2.45 million USD to support a clinical trial at a major transplantation center in the United States. The goal of the study is to provide patients with hypoglycemia unawareness a novel cell therapy treatment utilizing Sernova’s proprietary, highly vascularized, cell macroencapsulated implantable and scalable device to reduce or eliminate the need for injections of exogenous insulin. “JDRF has previously provided funding to advance the development of Sernova’s technologies through a preclinical collaboration with Massachusetts General Hospital, and we are proud to continue our support as Sernova’s technologies progress into new safety and efficacy clinical trials,” said Derek Rapp, JDRF President and CEO. “JDRF is excited about this collaboration, which advances research in encapsulated cell therapies, and will continue to drive progress toward our mission to accelerate life-changing breakthroughs to cure, prevent and treat T1D and its complications.” “Sernova and JDRF are tightly aligned in our vision to see cell-based therapies developed to reduce disease burden and significantly increase the quality of life for people living with T1D,” remarked Dr. Philip Toleikis, Sernova’s President and CEO. “We see our work with JDRF on this important clinical trial as an exciting opportunity to more rapidly advance Sernova’s therapies to treat people with diabetes and address many of the shortcomings and challenges of current insulin therapy.” “Sernova’s progression to human clinical trials is an incredible accomplishment in the global diabetes research agenda,” said Dave Prowten, President and CEO of JDRF Canada. “I am particularly proud of this trial being a part of the JDRF portfolio because it supports advancements of the best and brightest research minds in Canada at Sernova. Also, this is a shining example of the international collaboration fostered by projects funded by JDRF. Working together with our global partners, we can accelerate this type of transformative research and ensure it becomes available for the T1D community.”

To date, there is no cure for T1D, and people living with the disease are dependent on insulin therapy to help keep their blood-sugar levels from spiking too high, which can lead to long-term complications such as kidney and heart diseases or an acute, potentially deadly health crisis. Present-day insulin therapy is, however, an imperfect treatment method that requires people with T1D to carefully monitor their blood sugar throughout the day and take multiple, calculated doses of insulin based on food intake, exercise, stress, illness and other factors. A miscalculation or unexpected variable leading to high or low blood sugar episodes are daily threats, and only a third of people with T1D achieve their long-term blood glucose targets, placing them at risk for T1D-related health complications.

About Sernova Sernova Corp is a clinical stage regenerative medicine Company developing highly disruptive medical technologies to improve the treatment and quality of life of people with chronic debilitating 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. Sernova is developing the Cell Pouch System, an implantable medical device which forms highly vascularized chambers, ideal for therapeutic cells (donor, xenogeneic or stem cell derived therapeutic cells) which then release proteins and/or hormones as required to treat disease. For more information, please visit Sernova.com or follow us on Twitter: @SernovaCorp

About JDRF JDRF is the leading global organization funding type 1 diabetes (T1D) research. Our mission is to accelerate life-changing breakthroughs to cure, prevent and treat T1D and its complications. To accomplish this, JDRF has invested nearly $2 billion in research funding since our inception. We are an organization built on a grassroots model of people connecting in their local communities, collaborating regionally for efficiency and broader fundraising impact, and uniting on a national stage to pool resources, passion, and energy. We collaborate with academic institutions, policymakers, and corporate and industry partners to develop and deliver a pipeline of innovative therapies to people living with T1D. Our staff and volunteers throughout the United States and our six international affiliates are dedicated to advocacy, community engagement and our vision of a world without T1D. For more information, please visit jdrf.org or follow us on Twitter: @JDRF

For further information contact:

Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca

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 belief that Sernova will be able to raise additional capital to fund its clinical programs including its planned US FDA clinical trial. 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 - December 10, 2017 10 December, 2017

Sernova Receives US FDA IND Allowance to Initiate a US Clinical Trial of its Cell Pouch for the Treatment of Type 1 Diabetes

Source: Sernova Corp December 11, 2017, 6:00 a.m. EDT

LONDON, ONTARIO – (Globe Newswire – Monday December 11, 2017) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical stage company developing regenerative medicine technologies for the long-term treatment of diseases including diabetes and hemophilia, is pleased to announce it has received US Food and Drug Administration (FDA) notice of allowance for its IND for a new human clinical trial with the Cell Pouch System (TM) (CPS) in the United States. The Company will host a conference call for shareholders with Dr. Philip Toleikis, President and CEO on Monday, December 11th at 10:00am Eastern Standard Time to discuss the trial.

Sernova plans to initiate the new clinical trial under this US IND to investigate the Cell Pouch for treatment of type 1 diabetes (T1D) in individuals with hypoglycemia unawareness. The trial is a Phase I/II prospective single arm study of islets transplanted into the subcutaneously implanted Cell Pouch. The primary objective of the study is to demonstrate safety and tolerability of islet transplantation into the Cell Pouch and the secondary objective is to assess efficacy through a series of defined measures.

JDRF has previously committed to provide Sernova up to $2.45 million USD to support the clinical trial.

“Hypoglycemia unawareness is a serious consequence of type 1 diabetes,” said Derek Rapp, President & CEO, JDRF International. “We are excited to see progress in this and other potentially life-saving JDRF-funded research, which could help prevent people with hypoglycemia unawareness from experiencing dangerous lows, as we strive to achieve our vision of a world without T1D.”

“We are extremely enthusiastic about the promise of Sernova’s regenerative medicine platform to provide a new therapeutic option for diabetes patients with hypoglycemia unawareness. We believe Sernova’s multiple advancing cell based therapies have the potential to deliver significant improvement in the quality of life of patients suffering from diabetes and other debilitating diseases,” said Dr. Philip Toleikis, Sernova’s president & CEO.

About the Trial

The study is a Phase I/II single site, single arm, Company sponsored trial. Following approval by the Institutional Review Board, patients with hypoglycemia unawareness will be enrolled into the study under informed consent. Patients will then be implanted with the Cell Pouch including sentinel devices. Following vascularized tissue development, a dose of purified islets under strict release criteria will be transplanted into the Cell Pouch and patients followed for safety and efficacy measures for approximately six months. At this point a decision will be made whether to transplant a second islet dose with subsequent safety and efficacy follow up. Patients will then be further followed for one year.

“Sernova’s FDA clearance to commence human clinical trials in the United States is an exciting step forward in diabetes research, initially focused to reduce the risk of hypoglycemia unawareness, a complication in which a patient is unaware of a deep drop in blood sugar that can have life threatening consequences,” said Dave Prowten, President and CEO of JDRF Canada. “This is also an example of the international collaboration fostered by JDRF-funded projects to accelerate transformative research to benefit the T1D community,” added Mr. Prowten.

About Sernova’s Cell Pouch

The Cell Pouch is a novel, proprietary, scalable, implantable macroencapsulation device for the long-term survival and function of therapeutic cells (donor, stem cell derived cells and xenogeneic cells) which then release proteins and/or hormones as required to treat disease. The device is designed upon implantation to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells. The device 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 Diabetes

T1D is a life-threatening disease in which the body's immune system mistakenly attacks and kills the pancreatic cells that produce insulin—a hormone that is essential for life because of its role to help the body use glucose. The existing standard of care for patients with TID is suboptimal. To date, there is no cure for T1D, and people living with the disease are dependent on exogenous insulin therapy to help keep their blood-sugar levels from spiking too high, which can lead to long-term complications such as kidney and heart diseases or an acute, potentially deadly health crisis. Present-day insulin therapy is, however, an imperfect treatment method that requires people with T1D to carefully monitor their blood sugar throughout the day and take multiple, calculated doses of insulin based on food intake, exercise, stress, illness and other factors. A miscalculation or unexpected variable leading to high or low blood sugar episodes are daily threats, and only a third of people with T1D achieve their long-term blood glucose targets, placing them at risk for T1D-related health complications.

Conference Call Details

To participate in this live conference call, please dial + 1-877-858-5743 prior to the scheduled conference call time. International callers should dial +1-858-609-8959. The conference participant pass code is 355 040. Following the conference call a recording will be available at www.sernova.com

About Sernova Corp

Sernova Corp is developing disruptive regenerative medical technologies using a medical device and immune protected therapeutic 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 JDRF

JDRF is the leading global organization funding type 1 diabetes (T1D) research. Our mission is to accelerate life-changing breakthroughs to cure, prevent and treat T1D and its complications. To accomplish this, JDRF has invested nearly $2 billion in research funding since our inception. We are an organization built on a grassroots model of people connecting in their local communities, collaborating regionally for efficiency and broader fundraising impact, and uniting on a national stage to pool resources, passion, and energy. We collaborate with academic institutions, policymakers, and corporate and industry partners to develop and deliver a pipeline of innovative therapies to people living with T1D. Our staff and volunteers throughout the United States and our six international affiliates are dedicated to advocacy, community engagement and our vision of a world without T1D. For more information, please visit jdrf.org or follow us on Twitter: @JDRF

For further information contact:

Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778\ www.raymatthews.ca ray@raymatthews.ca

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 belief about the conduct and outcome of clinical trials and that Sernova will be able to raise additional capital to fund its clinical programs including its planned US FDA clinical trial. 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 - February 21, 2018 21 February, 2018

Sernova’s Cell Pouch Regenerative Medicine Clinical Trial for Patients with Type 1 Diabetes Supported with Continuous Glucose Monitoring Systems

Continuous Glucose Monitoring System (CGM) to provide sensitive tracking of key efficacy measures in patients at important time points throughout the study

Source: Sernova Corp February 22, 2018, 6:00 a.m. EDT

LONDON, ONTARIO – (Globe Newswire – February 22, 2018) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical stage company developing regenerative medicine technologies for the treatment of chronic diseases including diabetes and hemophilia, is pleased to announce continuous glucose monitoring systems (CGM (Medtronic Minimed, Northridge, CA)) will be provided to patients in Sernova’s US regenerative medicine clinical trial of its Cell Pouch(TM). CGM will be used to track the function of the transplanted cells in the measurement of key efficacy measures at multiple time points following transplantation of the therapeutic cells into the Cell Pouch.

Glucose variability and hypoglycemia duration can be determined using CGM. CGM involves the subcutaneous placement of a glucose sensor connected to a pager-sized monitoring device that stores glucose data over a 6-day period. Data from each period will be analyzed for mean glucose concentration, mean glucose variability, number and duration of hyper- and hypo- glycemic episodes, and total duration of hypoglycemia.

“We believe continuous glucose monitoring of patients may be an important and sensitive method to closely track the function of the transplanted therapeutic cells within the Cell Pouch,” said Dr. Philip Toleikis, Sernova’s President and CEO. “We are pleased with our collaborators in this study who have shown the foresight to support Type 1 diabetes patients seeking treatment via next-generation regenerative medicine technologies.”

Sernova has recently received US Food and Drug Administration (FDA) notice of allowance for its IND for a new human clinical trial with the Cell Pouch System (CPS) in the United States. Sernova is taking final steps to begin enrollment of patients in the new clinical trial under this US IND to investigate the Cell Pouch for treatment of type 1 diabetes (T1D) in individuals with hypoglycemia unawareness. The trial is a Phase I/II prospective single arm study of islets transplanted into the subcutaneously implanted Cell Pouch. The primary objective of the study is to demonstrate safety and tolerability of islet transplantation into the Cell Pouch and the secondary objective is to assess efficacy through a series of defined measures.

About the Trial The study is a Phase I/II single site, single arm, Company sponsored trial. Following approval by the Institutional Review Board, patients with hypoglycemia unawareness will be enrolled into the study under informed consent. Patients will then be implanted with the Cell Pouch including sentinel devices. Following vascularized tissue development, a dose of purified islets under strict release criteria will be transplanted into the Cell Pouch and patients followed for safety and efficacy measures for approximately six months. At this point a decision will be made whether to transplant a second islet dose with subsequent safety and efficacy follow up. Patients will then be further followed for one year. CGM is planned to provide a sensitive and accurate tracking method to follow important efficacy measures at various time points throughout the study.

About Sernova’s Cell Pouch The Cell Pouch is a novel, proprietary, scalable, implantable macroencapsulation device for the long-term survival and function of therapeutic cells (donor, stem cell derived cells and xenogeneic cells) which then release proteins and/or hormones as required to treat disease. The device is designed upon implantation to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells. The device with therapeutic cells has been shown to provide long term safety and efficacy in small and large animal models with diabetes and has been proven to provide a biologically compatible environment for insulin producing cells in humans.

About Diabetes T1D is a life-threatening disease in which the body's immune system mistakenly attacks and kills the pancreatic cells that produce insulin—a hormone that is essential for life because of its role to help the body use glucose. The existing standard of care for patients with TID is suboptimal. To date, there is no cure for T1D, and people living with the disease are dependent on exogenous insulin therapy to help keep their blood-sugar levels from spiking too high, which can lead to long-term complications such as kidney and heart diseases or an acute, potentially deadly health crisis. Present-day insulin therapy is, however, an imperfect treatment method that requires people with T1D to carefully monitor their blood sugar throughout the day and take multiple, calculated doses of insulin based on food intake, exercise, stress, illness and other factors. A miscalculation or unexpected variable leading to high or low blood sugar episodes are daily threats, and only a third of people with T1D achieve their long-term blood glucose targets, placing them at risk for T1D-related health complications.

About Sernova Corp Sernova Corp is developing disruptive regenerative medical technologies using a medical device and immune protected therapeutic 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:

Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778\ www.raymatthews.ca ray@raymatthews.ca

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 belief about the conduct and outcome of clinical trials and that Sernova will be able to raise additional capital to fund its clinical programs including its planned US FDA clinical trial. 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 07, 2018 7 May, 2018

Sernova Announces U.S. Phase I/II Cell Pouch Clinical Trial with Prominent Diabetes Clinical Investigator

Leading Surgeon and Researcher in Islet Transplantation at the University of Chicago to act as Clinical Trial Principal Investigator. Study to focus on severely diabetic patients with hypoglycemia unawareness

Source: Sernova Corp

May 8, 2018, 6:00 a.m. EDT

LONDON, ONTARIO – (Globe Newswire May 8, 2018) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), announces Dr. Piotr Witkowski, M.D., Ph.D., a leading expert in type 1 diabetes (T1D) and islet transplantation, as the Clinical Trial Principal Investigator for Sernova’s new clinical study. Dr Witkowski, at the University of Chicago site, will work closely with Sernova’s team to conduct the clinical and regulatory aspects of the Cell Pouch trial.

Dr. Witkowski is a widely published diabetes researcher and respected surgeon with a longstanding record of success in both basic science and clinical research pertaining to islet cell and abdominal organ transplantation. Among other accomplishments, he was instrumental in developing an optimized islet isolation technique that greatly improved success in clinical transplants. Under Dr. Witkowski's leadership, multidisciplinary research teams at the University of Chicago are currently conducting several studies designed to improve the quality and outcomes of islet cell transplantation in patients with T1D.

“Sernova’s achievement to commence US human clinical trials is a key step to improving the therapeutic treatment for people living with diabetes. This Cell Pouch safety and efficacy trial aims to reduce the risk of hypoglycemia unawareness, a complication in which a patient is unable to recognize and control impending hypoglycemia resulting in a drop in blood sugar that can have life threatening consequences,” said Dr. Witkowski. “Our experienced diabetes treatment team at the University of Chicago sees the potential of this transformative therapy to benefit and substantially improve the care of T1D.”

“Improving the quality of life and outcomes of people with diabetes are Sernova’s main priorities, and we are grateful to have the opportunity to work with Dr. Witkowski and his expert team at the University of Chicago, a team known for outstanding diabetes research and patient care,” stated Dr. Philip Toleikis, Sernova’s President & CEO.

The study is a Phase I/II, non-randomized, unblinded, single-arm, company sponsored trial. Under the clinical leadership of Dr. Witkowski, University of Chicago Medicine, patients with hypoglycemia unawareness will be enrolled in the study under informed consent. Patients then will be implanted with the Cell Pouch including sentinel devices. Following vascularized tissue development in the Cell Pouch, an initial dose of purified islets under strict release criteria will be transplanted into the Cell Pouch and patients followed for 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 then be further followed for one year, with interim patient results released at periodic intervals consistent with an open label study.

About Dr. Witkowski Piotr Witkowski M.D. Ph.D. is an Associate Professor of Surgery and a transplant surgeon at the University of Chicago Medicine. He has been involved in islet transplantation research for the past 17 years, initially at Columbia University in New York City and then as a Director of the Pancreatic Islet Transplantation Program at the University of Chicago Medicine. For the last nine years, Dr. Witkowski has been conducting multiple clinical studies in intraportal islet allotransplantation in patients with brittle type diabetes as well as islet autotransplantation in patients with chronic pancreatitis. Recently, he accomplished a phase 3 clinical trial and is currently preparing application to the FDA for islet graft as a biological product, which is pivotal to enable islet transplantation to become available to patients as a standard of care procedure. Being aware of shortcomings of intrahepatic islet transplantation, Dr Witkowski has been working on optimization of the subcutaneous location for improved islet engraftment. He has proven the concept that this pre-vascularized site enhances islet survival in a preclinical diabetes model.

About Sernova Corp Sernova Corp is developing disruptive regenerative medical technologies using a medical device (Cell Pouch) and immune protected therapeutic 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: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939; philip.toleikis@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778; www.raymatthews.ca ray@raymatthews.ca

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 belief about the conduct and outcome of clinical trials and that Sernova will be able to raise additional capital to fund its clinical programs including its US FDA clinical trial. 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 13, 2018 13 May, 2018

Sernova Announces University of Chicago Institutional Review Board (IRB) Approval of the FDA-cleared Therapeutic Cell Pouch Clinical Study

IRB Approval Signals ‘Green Light‘ for Sernova’s Clinical Protocol to Proceed

Source: Sernova Corp

May 14, 2018 6:00 a.m. EDT

LONDON, ONTARIO – (Globe Newswire – Monday May 14, 2018 ) – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), announces today it has received University of Chicago Institutional Review Board (IRB) approval to begin a new clinical protocol for the FDA-cleared human clinical trial to investigate the Cell Pouch™ for treatment of type 1 diabetes (T1D) in individuals with hypoglycemia unawareness.

The University of Chicago Institutional Review Board (IRB) is a committee established to review and approve research involving human subjects. The purpose of the IRB is to ensure that all human subject research is conducted in accordance with all federal, institutional, and ethical guidelines. The primary goal of an IRB is to safeguard the rights, safety and welfare of participants in research studies.

"The approval of our clinical protocol by the University of Chicago IRB represents a significant milestone enabling the company to expand the clinical testing of our Cell Pouch System to the US. Patient selection and enrollment can now proceed," said Dr. Philip Toleikis, Sernova President and CEO.

The approved protocol is a Phase I/II non-randomized, unblinded, single arm, company- sponsored trial, where diabetic subjects with hypoglycemia unawareness will be enrolled into the study under informed consent. Subjects will then be implanted with Cell Pouches. Following development of vascularized tissue chambers within the Cell Pouch, subjects will then be stabilized on immunosuppression and a dose of purified islets under strict release criteria will be transplanted into the Cell Pouch.

A sentinel pouch, also transplanted with islets, will be removed for an early assessment of the islet transplant. Subjects will be followed for 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 then be further followed for one year. The primary objective of the study is to demonstrate safety and tolerability of islet transplantation into the Cell Pouch™. The secondary objective is to assess efficacy through a series of defined measures.

About Sernova’s Cell Pouch™ Technologies The Cell Pouch™ is a novel, proprietary, scalable, implantable macroencapsulation device designed to prevent device fibrosis for the long-term survival and function of therapeutic cells (donor, stem cell-derived cells and xenogeneic cells) which then release proteins and/or hormones as required to treat disease. The device is designed upon implantation to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells. The device 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 Diabetes T1D is a life-threatening disease, affecting more than 3.3 million individuals in Canada and US, in which the body's immune system mistakenly attacks and kills the pancreatic cells that produce insulin a hormone that is essential for life because of its role to help the body use glucose. The existing standard of care for patients with TID is suboptimal. To date, there is no cure for T1D, and people living with the disease are dependent on exogenous insulin therapy to help keep their blood-sugar levels from spiking too high, which can lead to long-term complications such as kidney and heart diseases or an acute, potentially deadly health crisis. Present-day insulin therapy is, however, an imperfect treatment method that requires people with T1D to carefully monitor their blood sugar throughout the day and take multiple, calculated doses of insulin based on food intake, exercise, stress, illness and other factors. A miscalculation or unexpected variable leading to high or low blood sugar episodes are daily threats, and only a third of people with T1D achieve their long-term blood glucose targets, placing them at risk for T1D-related health complications.

About Sernova Corp Sernova Corp is developing disruptive regenerative medical technologies using a medical device and immune protected therapeutic 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. For more information, please visit www.sernova.com

For further information contact:

Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939; philip.toleikis@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778; www.raymatthews.ca ray@raymatthews.ca

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 belief about the conduct and outcome of clinical trials and that Sernova will be able to raise additional capital to fund its clinical programs including its planned US FDA clinical trial. 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 04, 2018 4 July, 2018

Sernova Initiates Patient Screening and Recruitment for its US Clinical Trial for Diabetes

Source: Sernova Corp

July 5, 2018, 6:00 a.m. EDT

LONDON, ONTARIO –July 5, 2018 – Sernova Corp. (“Sernova” or the “Company”) (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH) announces that patient screening and recruitment has begun in its regenerative medicine US clinical trial for diabetic patients with hypoglycemia unawareness.

Sernova’s initial clinical evaluation of the prevascularized Cell Pouch (TM) demonstrated biocompatibility and safety of the Cell Pouch as well as viability and vascularization of its transplanted insulin-producing islets, a first in world achievement in a prevascularized implantable medical device.

“This first-in-human work helped frame the design of Sernova’s new Phase I/II clinical protocol. Our clinical team at the University of Chicago is excited to initiate this trial of Sernova’s transformative technology,” said principal investigator, Dr. Piotr Witkowski, M.D., Ph.D.

“To support the clinical study’s timely execution under the highest quality standards, Sernova and CTI (Clinical Trial and Consulting), a well-respected clinical research organization with deep experience in the regenerative medicine field, are working closely with Dr. Witkowski’s team,” said Dr. Philip Toleikis, Sernova’s President and CEO.

The study is a Phase I/II, non-randomized, open label, single-arm, company-sponsored trial. Under the clinical leadership of Dr. Witkowski, University of Chicago Medicine, subjects with hypoglycemia unawareness enrolled in the study under informed consent will be implanted with the Cell Pouch. Following vascularized tissue development in the Cell Pouch, an initial dose of purified islets under strict release criteria will be transplanted into the Cell Pouch.

A sentinel pouch, also transplanted with islets, will be removed for an early assessment of the islet transplant. Subjects will be followed for 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. Subjects will then be further followed for one year, with interim participants results released at periodic intervals consistent with an open-label study.

About Sernova’s Cell Pouch Technologies

The Cell Pouch is a novel, proprietary, scalable, implantable prevascularized macroencapsulation device for the long-term survival and function of therapeutic cells (donor, stem cell derived cells and xenogeneic cells) which then release proteins and/or hormones as required to treat disease. The device is designed to eliminate concerns of fibrosis upon implantation by incorporating with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells. The device 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 Diabetes

Type1 Diabetes (T1D) is a life-threatening disease in which the body's immune system mistakenly attacks and kills the pancreatic cells that produce insulin—a hormone that is essential for life because of its role to help the body use glucose. The existing standard of care for patients with TID is suboptimal. To date, there is no cure for T1D, and people living with the disease are dependent on exogenous insulin therapy to help keep their blood-sugar levels from spiking too high, which can lead to long-term complications such as kidney and heart diseases or an acute, potentially deadly health crisis. Present-day insulin therapy is, however, an imperfect treatment method that requires people with T1D to carefully monitor their blood sugar throughout the day and take multiple, calculated doses of insulin based on food intake, exercise, stress, illness and other factors. A miscalculation or unexpected variable leading to high or low blood sugar episodes are daily threats, and only a third of people with T1D achieve their long-term blood glucose targets, placing them at risk for T1D- related health complications.

About Sernova Corp

Sernova Corp is developing regenerative medicine therapeutic technologies using an implantable medical device and immune protected therapeutic 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:

Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 Philip.toleikis@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778 ray@raymatthews.ca www.raymatthews.ca

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 belief about the conduct and outcome of clinical trials and that Sernova will be able to raise additional capital to fund its clinical programs including its planned US clinical trial. 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 - November 20, 2018 20 November, 2018

Sernova Highlights Achievements from the HemAcure Consortium in Developing a Novel Cell-Based Therapy for Hemophilia A

Source: Sernova Corp

November 20, 2018, 8:30 a.m. EST

LONDON, ONTARIO –November 20, 2018 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH) a clinical-stage regenerative medicine company, highlights the achievements in developing a novel cell-based therapy in combination with Sernova’s Cell Pouch™ for treatment of Hemophilia A.

The therapeutic significance of this work supports the HemAcure Consortium’s concept that Factor VIII genetically corrected human cells from a blood sample of patients with Hemophilia A transplanted into the Cell Pouch can improve blood clotting.

“I am impressed with the achievements of this International Consortium within the limited time allowed. The technical teams worked closely together to complete this work in developing a first-in-world ex vivo gene therapy approach in an implanted vascularized medical device for the treatment of Hemophilia A.” said Dr. David Lillicrap, Professor in the Department of Pathology and Molecular Medicine at Queen’s University, member of the Medical Advisory Board of the World Federation of Hemophilia, and HemAcure Scientific Advisory Board member.

A summary of the Consortium’s achievements are as follows:

• In blood donated from patients with Hemophilia A, endothelial outgrowth cells to be corrected for the Factor VIII gene were isolated and grown successfully in a specialized Good Manufacturing Process (cGMP) compliant medium developed by the Consortium.

• Using a human Factor VIII gene insertion technique, the cells were corrected and confirmed to produce Factor VIII.

• A preliminary experiment showed these cells could release Factor VIII in the blood over time and improve blood clotting in an animal model of Hemophilia A, in preparation for transplant into the Cell Pouch.

• The corrected cells were proven to be successfully replicated through a production scale-up process. Following amplification, these cells maintained their normal healthy behavior in producing Factor VIII. Additional safety metrics were achieved using established tests.

• The cells were then cryopreserved and shipped from the European partners to Sernova in North America where they were shown to remain healthy through quality control testing in preparation for transplantation.

• The Cell Pouch, manufactured under cGMP, and following implantation in the Hemophilia A animal model showed development of vascularized chambers suitable to receive the corrected cells.

• Following transplantation into the Cell Pouch in a Hemophilia A animal model, the patient’s Factor VIII corrected cells survived at three months (the duration of the study).

• Initial results showed Factor VIII released from the cells in the Cell Pouch was detected in blood and notably, showed improved clotting when compared to the Hemophilia A animal control which did not receive human corrected cells.

• The steps of the cell production process were documented towards development of the cGMP manufacturing process for the corrected cells for future clinical use. An Instructions-for-Use document was also developed for implantation of the cGMP Cell Pouch and transplantation of patient corrected Factor VIII producing cells applicable for future human testing in patients with Hemophilia A.

Sernova’s President & CEO, Dr. Philip Toleikis added, “These series of breakthroughs demonstrate success in correcting a Hemophilia A patient’s own cells to produce the missing Factor VIII protein and to improve blood clotting in an animal model of Hemophilia A in preparation for future human clinical trials.”

Technical results will continue to be presented by HemAcure Consortium members at scientific conferences and disseminated in scientific publications. Furthermore, steps are to complete cGMP manufacturing of the cells using the tools and methods developed by the Consortium, optimize dosing of cells in the Cell Pouch to achieve optimal therapeutic blood levels of Factor VIII, and conduct final formal studies in preparation for a first-in- human clinical study.

HemAcure’s webinar in which the consortium expert leaders present an overview of the findings is now available both on Sernova’s website at www.sernova.com and the HemAcure project website at www.hemacure.eu

About HemAcure

The overall objective of the HemAcure project is to develop and refine the tools and technologies for a novel ex vivo prepared cell-based therapy to treat the bleeding disease, Hemophilia A (caused by a genetic deficiency in clotting Factor VIII (FVIII)) that should ultimately lead to improved quality of life of the patients. The European Union's Horizon 2020 research and innovation program has awarded approximately €5.5 million (CDN$8.5) to support the project. International consortium members include the University Hospital Wuerzburg (Coordinating Institute), Germany, IMS - Integrierte Management, Heppenheim, Germany, Università del Piemonte Orientale “Amedeo Avogadro,” Novara, Italy, Loughborough University, Loughborough, United Kingdom, ARTTIC International Management Services, Munich, Germany and Sernova Corp., London, Ontario, Canada. This project has received funding from the European Union’s Horizon 2020 Research and Innovation Programme under grant agreement No 667421. The Consortium has been working together to provide sets of design and manufacturing protocols, based on current European GMP regulations to prepare an Investigational Medicinal Product Dossier (IMPD) for an Investigational Medicinal Product (IMP), composed of therapeutic cells and an implantable medical device (Sernova’s Cell Pouch). For more information, visit www.hemacure.eu

About Hemophilia A

People with Hemophilia A have prolonged abnormal bleeding as a result of trauma. Hemophilia A is the most common form of Hemophilia and is a genetic disorder caused by missing or defective FVIII, a blood clotting protein. Severe Hemophilia A occurs in about 60% of cases where the deficiency of FVIII is less than 1% of normal blood concentration. While it is passed down from parents to children, about 1/3 of cases are caused by a spontaneous change in the gene. According to the US Centers for Disease Control and Prevention, Hemophilia A occurs in about 1 in 5,000 births. Prolonged bleeding, in areas such as the brain, of a person with Hemophilia A, can be fatal. Prolonged bleeding in joints can cause inflammatory responses and permanent joint damage. Approximately 20,000 people in the United States, 2,500 in Canada and 10,000 in Europe have moderate to severe forms of Hemophilia A. Though there is no cure for the disease, Hemophilia A can be controlled with regular infusions of recombinant clotting FVIII. Annual worldwide costs for the treatment of the disease for each patient may range from $60,000 to $260,000 US for a total cost of approximately $15B per year.

About Horizon 2020 Programme

Horizon 2020 is the biggest EU Research and Innovation program ever with nearly €80 billion of funding available over seven years (2014 to 2020). It promises more breakthroughs, discoveries and world-firsts by taking great ideas from the lab to the market. The project is funded as part of societal challenges “personalizing health and care” in a specific call about innovative treatments and technologies. New therapies, such as gene or cell therapies, often require technological innovation in the form of development of specific component tools and techniques such as isolation and multiplication of a cell or development of a scaffold, delivery of the therapy to the patient and for following-up the effect of the therapy in the patient. In particular, achieving therapeutic scale production and cGMP standards at reasonable cost is often underestimated. The European Union aims to improve the development of advanced methods and devices for targeted and controlled delivery, and to bring these innovative treatments to the patient.

About Sernova Corp

Sernova Corp is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including Hemophilia A, 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:

Danny Matthews, Solebury Trout Tel: (646) 378-2928 dmatthews@soleburytrout.com www.soleburytrout.com

Dominic Gray, Corporate Communications Tel: (519) 858-5126 Dominic.Gray@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778 ray@raymatthews.ca www.raymatthews.ca

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 the Hemophilia A program. 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.

HemAcure Webinar: https://youtu.be/ihyHefvJ8cQ

Press Release Communiqué de presse - December 20, 2018 20 December, 2018

Sernova Announces Enrollment of First Patient in U.S. Phase I/II Study of Cell Pouch for Treatment in Type 1 Diabetes

Initiating Treatment Phase of the Study at the University of Chicago

December 20, 2018 9:00 a.m. EST

LONDON, ONTARIO – December 20, 2018 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical-stage regenerative medicine company announces the enrollment of the first patient in its Phase I/II trial of Sernova’s Cell Pouch for Clinical Islet Transplantation in type 1 diabetes.

“There is a real need for new treatment options in the field of type 1 diabetes,” said Dr. Piotr Witkowski, principal investigator and Director of the Pancreatic and Islet Transplant Program at University of Chicago School of Medicine. “Due to Sernova’s novel approach to demonstrate vascularization of the Cell Pouch and remarkable preclinical and first-in-human data, we are hopeful this study will provide a new functional therapeutic option in the treatment of patients with diabetes.” Dr. Witkowski added, “We expect completion of enrollment of the first patient cohort to be January 2019 and full enrollment to be completed by mid- 2019 as we continue to screen patients for the Sernova study.”

“The initiation of this Phase I/II trial is an important milestone for Sernova as our team looks to showcase our research and development efforts in diabetes on a clinical level at the University of Chicago, a world leader in regenerative medicine,” added Dr. Philip Toleikis, President and CEO of Sernova. “In our pilot first- in-human study, Sernova’s regenerative medicine approach, involving therapeutic cells within Sernova’s Cell Pouch, showed surviving vascularized islets able to produce all the hormones necessary to control blood glucose levels. Based on these positive initial results, we expect our therapeutic approach will demonstrate continued safety and therapeutic benefit to people suffering from type 1 diabetes.”

The Company is expecting to report preliminary safety data from Sernova’s clinical study in the first half of 2019 and preliminary efficacy data in the second half of 2019.

About the Study

The approved protocol is a Phase I/II non-randomized, unblinded, single arm, company-sponsored trial, where diabetic subjects with hypoglycemia unawareness enroll into the study under informed consent. Participants are then 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 will be removed for an early assessment of the islet transplant. Subjects will be 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 then be further followed for one year. The primary objective of the study is to demonstrate safety and tolerability of islet transplantation into the Cell Pouch. The secondary objective is to assess efficacy through a series of defined measures.

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 or contact (773) 702-2504.

About Diabetes

Type 1 diabetes is a chronic disease that affects more than 42.5 million globally, in which the body's immune system attacks and destroys the pancreatic cells that produce insulin, an essential hormone to help the body use glucose. To date, there is no cure for type 1 diabetes, and people living with the disease are dependent on insulin therapy, an imperfect treatment method that requires careful monitoring throughout the day along with multiple calculated doses of insulin to help regulate their blood sugar levels. A miscalculation or unexpected variable leading to high or low blood sugar episodes are daily threats, and only a third of people with type 1 diabetes achieve their long-term blood glucose targets, placing them at risk for type 1 diabetes- related health complications. Hypoglycemia unawareness, a subset of diabetes in which individuals experience a critical drop in blood sugar without warning symptoms, represents more than 15% of type 1 diabetes population.

About the Cell Pouch

The Cell Pouch is a novel, proprietary, scalable, implantable macro-encapsulation device 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 device 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

For further information contact:

United States: Danny Matthews Solebury Trout Tel: (646) 378-2928 dmatthews@soleburytrout.com www.soleburytrout.com

For investor inquiries and media inquiries in Canada: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778 ray@raymatthews.ca www.raymatthews.ca

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.

Press Release Communiqué de presse - April 11, 2019 11 April, 2019

Sernova Announces First Transplantation of Therapeutic Cells in Cell Pouch for the Company Phase I/II U.S. Clinical Study for Diabetes

April 11, 2019, 9:00 a.m. EDT

LONDON, ONTARIO – April 11, 2019 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF), a clinical-stage regenerative medicine company today announced the first Cell Pouch™ transplant of insulin-producing cells in its U.S. Phase I/II clinical trial evaluating the safety and efficacy of the Cell Pouch for Clinical Islet Transplantation in type 1 diabetes.

“Sernova’s Cell Pouch technologies are positioned to provide the most severe patients with improved, long term options to manage their diabetes,” said Dr. Piotr Witkowski, Clinical Trial Principal Investigator and Director of the Pancreatic Islet Transplant Program at the University of Chicago. “The current standard of care, involves islet transplants into the portal vein which has significant limitations including the development of an immediate blood-mediated inflammatory reaction (IBMIR), limited supply of donor organs and the challenges in isolating and obtaining a consistent quality of islet preparations.”

In accordance with the study protocol, the Cell Pouch was implanted prior to transplant of purified islets. This procedure enables the development of vascularized tissue chambers and provides an interval for patient stabilization on standard immune protection medications. Prior to transplantation, the Cell Pouch was assessed for safety. A Sentinel Pouch, a small monitoring device, was also transplanted with islets. In accordance with the protocol the Sentinel Pouch will be removed approximately 90 days post-transplant to assess islet survival as an interim indicator of efficacy.

“Sernova’s Cell Pouch provides a non-fibrosing, vascularized environment for the transplantation of therapeutic cells, to enhance the curative potential of islet transplantation and other cell therapies,” said Dr. Philip Toleikis, President and CEO of Sernova. “We are thrilled with Dr. Witkowski’s progress as well as his decision to move forward with transplantation based on his analysis of the safety and vascularization of the Cell Pouch.”

“This important clinical milestone advances our Cell Pouch technologies as a valuable enabling foundation for cell therapies across a range of indications including type 1 diabetes, hemophilia and thyroid disease,” added Dr. Toleikis.

The Company is expecting to report preliminary safety data from Sernova’s clinical study in the first half of 2019 and preliminary efficacy data in the second half of 2019.

About the Study

The approved protocol is a Phase I/II non-randomized, unblinded, single arm, company-sponsored trial, where diabetic subjects with hypoglycemia unawareness enroll into the study under informed consent. Participants are then 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 will be removed for an early assessment of the islet transplant. Subjects will be 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 then be further followed for one year. The primary objective of the study is to demonstrate the safety and tolerability of islet transplantation into the Cell Pouch. The secondary objective is to assess efficacy through a series of defined measures.

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 Hypoglycemia Unawareness and Diabetes

Type 1 diabetes is a chronic disease that affects more than 42.5 million globally, in which the body's immune system attacks and destroys the pancreatic cells that produce insulin, an essential hormone to help the body use glucose. To date, there is no cure for type 1 diabetes, and people living with the disease are dependent on insulin therapy, an imperfect treatment method that requires careful monitoring throughout the day along with multiple calculated doses of insulin to help regulate their blood sugar levels. A miscalculation or unexpected variable leading to high or low blood sugar episodes are daily threats, and only a third of people with type 1 diabetes achieve their long-term blood glucose targets, placing them at risk for type 1 diabetes-related health complications. Hypoglycemia unawareness, a subset of diabetes in which individuals experience a critical drop in blood sugar without warning symptoms, represents more than 15% of type 1 diabetes population.

About the Cell Pouch

The Cell Pouch is a novel, proprietary, scalable, implantable macro-encapsulation device 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 device 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

For further information contact:

United States:

Danny Matthews Solebury Trout Tel: (646) 378-2928 dmatthews@soleburytrout.com www.soleburytrout.com

Canada:

Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778 ray@raymatthews.ca www.raymatthews.ca

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.

Press Release Communiqué de presse - July 03, 2019 3 July, 2019

Sernova Corp Presents Positive Preliminary Safety and Efficacy Data in its Phase I/II Clinical Trial for Type-1 Diabetes

Sernova’s Cell Pouch (TM) with transplanted islet cells reached primary safety measurements and clinically significant efficacy outcomes including glucose-stimulated C-peptide and the release of insulin in the first patient transplanted

July 3, 2019 5:30 a.m. EDT

LONDON, ONTARIO – July 3, 2019 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF), a clinical-stage regenerative medicine company today announced that in an interim analysis of its human Phase I/II clinical trial, Sernova’s Cell Pouch transplanted with islet cells showed initial safety, as well as key efficacy measures, including glucose stimulated C-peptide, insulin production and additional clinically significant measures of glucose control in the first study patient with type-1 diabetes and severe hypoglycemia unawareness.

Dr. Piotr Witkowski, Director of Pancreatic, and Islet Transplant Program at the University of Chicago and study principal investigator presented on Sernova’s Cell Pouch technology and preliminary data from Sernova’s current clinical trial: A Safety, Tolerability and Efficacy Study of Sernova's Cell Pouch for Clinical Islet Transplantation today at the 17th World Congress of the International Pancreas and Islet Transplantation Association (IPITA) in Lyon, France.

Highlights of the presentation of the data from the first patient who received islet transplanted into Sernova Cell Pouch included:

• No incidences of adverse events determined to be related to the Cell Pouch implant.

• The Cell Pouch was well-incorporated with vascularized tissue, which enabled successful transplant of the purified islets

• A weight reduction of 6.35kg (12% total body weight)

• Stabilizing improvements in all glycemic control parameters as indicated by Continuous Glucose Monitoring (CGM) as assessed by Medtronic

• 87.5% reduction in hypoglycemic events from baseline collected over a two-week monitoring period

• Presence of stimulated blood levels of C-peptide and insulin at the observed 90-day post-transplant point as indicated in a mixed meal tolerance test

“I am quite pleased with these interim results in the first implanted patient,” said Dr. Witkowski. “The first of two doses of islets transplanted into the Cell Pouch is showing safety and early indicators of efficacy. Importantly, demonstration of glucose-stimulated C-peptide and insulin present in the bloodstream is definitive proof of islet survival and function in the Cell Pouch. These results are an important first step towards a paradigm shift in the treatment of this debilitating disease. Our team is looking forward to reporting longer- term results in enrolled patients as the trial progresses,” said Dr. Witkowski, principal study investigator.

ABOUT IPITA

The International Pancreas and Islet Transplantation Association aims to serve the pancreas and islet transplant scientific community in providing a forum for the open exchange of knowledge and expertise in order to facilitate the advancement of the clinical practice of pancreas and islet transplantation for the treatment of human diabetes.( https://www.tts.org/ipita/home)

ABOUT THE STUDY

The approved protocol is a Phase I/II non-randomized, unblinded, single arm, company-sponsored trial, where diabetic subjects with hypoglycemia unawareness enroll into the study. Participants are then 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 will be 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 then be further followed for one year. The primary objective of the study is to demonstrate safety and tolerability of islet transplantation into the Cell Pouch. The secondary objective is to assess efficacy through a series of defined measures.

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: United States: Danny Matthews Solebury Trout Tel: (646) 378-2928 dmatthews@soleburytrout.com www.soleburytrout.com

For investor inquiries and media inquiries in Canada: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

Ray Matthews & Associates Tel: (604) 818-7778 ray@raymatthews.ca www.raymatthews.ca

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.

Press Release Communiqué de presse - October 16, 2019 16 October, 2019

Sernova Confirms Enduring Levels of Fasting C-Peptide in Bloodstream of First Patient in its Phase I/II Clinical Trial for Type-1 Diabetes

Findings further validate Cell Pouch and therapeutic cell performance in Type-1 diabetes

October 16, 2019 9:00 a.m. EDT

LONDON, ONTARIO – October 16, 2019 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage regenerative medicine company, is pleased to announce the detection of enduring levels of C-peptide (measured up to 30 days and ongoing), a biomarker of transplanted beta cell insulin production, in the bloodstream of a fasting patient in its ongoing Phase I/II Cell Pouch(TM) US clinical study of type-1 diabetes. The detection of fasting C-peptide in the bloodstream of our first patient, in addition to Sernova’s recent announcement of glucose-stimulated C-peptide and other early efficacy indicators, demonstrate a normalizing response of the Cell Pouch therapeutic cells to the body’s varied need for insulin production. This is an important step forward and evidence of ongoing islet engraftment within the Cell Pouch.

“Along with the preliminary safety and early indicators of efficacy, I am excited that we are observing C-peptide levels in the patient’s bloodstream after recent transplant, not only following stimulation with a meal but also when the patient is fasting. These findings represent progress in clinical outcomes and evidence of enduring islet survival and function within Sernova’s Cell Pouch,” said Dr. Piotr Witkowski, Director of Pancreatic, and Islet Transplant Program at the University of Chicago and study principal investigator. “We look forward to reporting ongoing results in additional patients as the trial progresses.”

The entry criteria of Sernova’s clinical study require patients to be C-peptide negative upon enrolment. C- peptide measured in the bloodstream is a biomarker of insulin and is widely used as a measure of insulin production by islet cells. C-peptide is typically measured following overnight fasting (fasting C-peptide) and during a glucose tolerance test (glucose-stimulated C-peptide). Together these measures provide an index of the patient’s ability to control blood glucose through their production of insulin.

With the goal of improved blood glucose control and stabilization of fluctuating blood sugar levels commonly experienced in people with type-1 diabetes, a normalizing response can also decrease the likelihood of life threatening hypoglycemic unaware events, a key efficacy measure in the Sernova trial.

Sernova’s clinical trial is continuing active recruitment and enrollment of study participants and further results will continue to be reported as the study progresses.

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 participants with diabetes and hypoglycemia unawareness. The secondary objective is to assess efficacy through a series of defined measures. Importantly, patients enrolled in Sernova’s clinical trial are incapable of producing C- peptide prior to implantation of Sernova’s Cell Pouch and therapeutic cells.

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 is 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 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

The Cell Pouch is a novel, proprietary, scalable, implantable macro-encapsulation device 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 device 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

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. The information disclosed represents results from one patient and may not be representative of all study patients or of the final study results. 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 - February 10, 2020 10 February, 2020

Sernova Announces Positive DSMB Review and Recommendation for Continuation of Phase I/II Diabetes Clinical Trial of Cell Pouch

Ongoing Safety of Sernova’s Clinical Trial Confirmed

February 10, 2020 9:00 a.m. EDT

LONDON, ONTARIO – February 10, 2020 – 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 independent Data Safety Monitoring Board (“DSMB”) completed its first interim analysis 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.

The DSMB did not raise any concerns regarding safety and recommended the continuation of the study. “We are very pleased with the recommendation of the DSMB. In light of this positive assessment, Sernova continues the trial as we carry on compiling safety and efficacy results from our treated patients along with advancing further patient enrollment at the University of Chicago,” said Dr. Philip Toleikis, President and CEO of Sernova. “We thank the DSMB for its diligence, guidance, and support as we continue moving forward with our mission to provide people suffering from diabetes and other chronic diseases improved treatment options and a better quality of life.”

The DSMB is an independent group of clinical research experts who review the accumulated safety data throughout the clinical trial to safeguard the safety and interests of participating patients while ensuring the scientific validity and integrity of the trial. This interim analysis was the first of three planned DSMB reviews of this clinical trial.

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 secondary objective is to assess efficacy through a series of defined measures. Patients enrolled in Sernova’s clinical trial 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, 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 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.

Press Release Communiqué de presse - February 13, 2020 13 February, 2020

Sernova Achieves Positive Efficacy Endpoint in Phase I/II Clinical Trial for Type 1 Diabetes

Most advanced subject in the clinical trial continues to show positive indicators of islet function following islet transplant into the Cell Pouch

February 13, 2020 9:00 a.m. EDT

LONDON, ONTARIO – February 13, 2020 – Sernova Corp (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage company and regenerative medicine therapeutics leader, is pleased to announce that Sernova’s first treated patient in its Phase I/II clinical trial of its Cell Pouch with therapeutic cells for type 1 diabetes at the University of Chicago, has demonstrated survival of endocrine tissue (insulin-producing islets) in the sentinel Cell Pouch following 90 days transplant.

This efficacy outcome, namely, survival of endocrine tissue (insulin-producing islets) in the sentinel Cell Pouch following 90 days transplant, is measured by positive staining of islets during histological analysis. According to the independent pathologist who conducted the analysis, “The explanted sentinel pouch shows abundant viable, organized islet cells intimately associated with blood vessels within a collagen matrix after 90 days of transplantation. These surviving islet cells strongly express insulin.” A representative histological image from the islet-transplanted mini-sentinel Cell Pouch explanted from a patient at 90 days post-transplant. Islets with positive insulin staining (red), and new blood vessels (green) are detected. (A Safety, Tolerability and Efficacy Study of Sernova's Cell Pouch™ for Clinical Islet Transplantation.)

This achievement is important because it is an indicator of transplanted islet health in the therapeutic Cell Pouches remaining in the subject, including the islets ability to produce insulin into the bloodstream. This has been demonstrated by our previous reported findings of blood levels of both glucose-stimulated and fasting C- peptide as well as other efficacy indicators in this patient who had no measurable levels of this biomarker of insulin prior to the Cell Pouch islet transplant.

“We believe these accumulating positive results continue to validate our Cell Pouch technologies as a viable regenerative medicine therapeutic platform for humans in insulin-dependent diabetes and other chronic diseases,” said Dr. Philip Toleikis, President and CEO of Sernova Corp. “With these encouraging results and the positive review and recommendation from the Data Safety and Monitoring Board (DSMB), we are excited to continue the clinical trial and carry on compiling safety and efficacy data from our current and future treated patients.”

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 transplantation. The secondary objective is to assess efficacy through a series of defined measures. Patients enrolled in Sernova’s clinical trial 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’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 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 early assessments of its ongoing Phase I/II clinical trial, Sernova has shown in its first treated patient 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 press release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements in this press release 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. Forward-looking statements include statements about subsequent clinical activity, including enrolment of patients and continuing results therefrom, and the potential benefits, safety, and efficacy of the Cell Pouch for various indications, including type 1 diabetes.

While Sernova considers these assumptions to be reasonable, these assumptions are inherently subject to significant scientific, business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause Sernova’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. Readers should not place undue reliance on these statements or the scientific data presented and should refer to the risk factors identified in the company’s continuous disclosure filed on SEDAR. 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 08, 2020 8 June, 2020

Sernova to Acquire Cellular Local Immune Protection Technology Accelerating Expansion of its Regenerative Medicine Therapeutics Platform

June 8, 2020 8:00 a.m. EDT

LONDON, ONTARIO – June 8, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical-stage regenerative medicine therapeutics company, announced today its acquisition of an innovative cellular immune protection technology. This acquisition represents a strategic accelerator for expansion of Sernova’s total regenerative medicine cell therapy therapeutics platform.

Said Dr. Philip Toleikis, President and CEO Sernova Corp., “This is a game-changer for Sernova. We have strategically focused on adding local immune protection technologies to our portfolio as they represent the last essential pillar for our cell therapy therapeutics platform. This technology acquisition, in addition to our recently announced collaboration with AgeX Therapeutics, Inc. to use their UniverCyte™ gene-editing technology to protect cells, positions Sernova with multiple potential approaches to guard therapeutic cells within our Cell Pouch against host immune-response across multiple clinical applications.”

Pursuant to an asset purchase agreement with Converge Biotech, Inc. (“Converge”), Sernova is acquiring all intellectual property associated with Converge’s conformal coating cell encapsulation technology (“Conformal Coating Technology”), including issued patents, patent applications, and know-how. The transaction is expected to close by June 11, 2020.

“Conformal coating technology could be very synergistic with the Sernova Cell Pouch, as it could confer protection from the immune attack, decreasing or eliminating the need for immunosuppressive drugs. The minimal volume of the conformal capsules makes it possible to include immuno-protected insulin-producing cells in the Sernova Cell Pouch. If the combination of these technologies proves successful, it will represent an important step towards elimination of the need for immunosuppressive medications, bringing a functional cure closer to reality for patients suffering from this debilitating disease,” said Dr. Camillo Ricordi, Stacy Joy Goodman Professor of Surgery and Chief, Division of Cellular Transplantation, Distinguished Professor of Medicine, Professor of Biomedical Engineering, Microbiology and Immunology and Director, Diabetes Research Institute and Cell Transplant Center. The Diabetes Research Institute (DRI) is a designated Center of Excellence at the University of Miami Miller School of Medicine.

Why is the Conformal Coating Technology Important?

The Conformal Coating Technology consists of a thin proprietary coating layer that effectively cloaks coated therapeutic cells to protect them from an auto-response attack by one’s own immune system post cell transplantation into the body.

The advantages and potential benefits of this cell encapsulating technology are as follows: • provides protection of the therapeutic cells from immune system attack locally within the Cell Pouch chambers potentially avoiding the need for life-long immunosuppression medications, that are typically required after cell transplantation; • enables close contact of the transplanted therapeutic cells with the vascularized tissue matrix within the Cell Pouch to enable closer interactions unlike standard microencapsulation technologies in which the capsules are significantly larger than the cells limiting required tissue interactions; • improves the diffusion of small molecules and biomolecules (i.e., glucose, insulin, and other proteins or hormones), providing a physiological glucose-stimulated insulin response without delay that occurs with other encapsulation technologies; and • due to the improved diffusion of biomolecules, it may require a smaller load of therapeutic cells to achieve the desired therapeutic effect in comparison to standard microcapsules.

Local immune protection technologies to cloak cells, such as the Conformal Coating Technology and the UniverCyte™ gene technology, have the potential to protect cells from immune system attack within Sernova’s Cell Pouch through different and independent mechanisms.

“The potential to eliminate antirejection medications with these complementary technologies to our proprietary Cell Pouch, both for human donor and stem cell-derived cells, will enable us to increase patient safety and quality of life, and significantly expand the number of treatable patients suffering from chronic diseases. With extensive preclinical studies already conducted at DRI, we look forward to the possibility of advancing this local immune protection technology into human trials following successful preclinical proof-of-concept testing. We believe that this could accelerate Sernova’s opportunity to be first-to-market to provide a functional cure to the many diabetic patients worldwide. Our vision is to bring a new standard of care approach for chronic debilitating diseases to the healthcare landscape,” said Dr. Philip Toleikis.

Acquisition Funding To fund the Conformal Coating Technology acquisition, Sernova will issue to a strategic investor a $1,000,000 convertible debenture that is unsecured, repayable in 30 months (unless earlier converted or redeemed), and carries an 8% interest rate (the “Debenture”). The Company will also issue 3,000,000 non-transferable share purchase warrants (the “Warrants”) to the strategic investor, each Warrant being exercisable into one common share at a price of $0.20 per share for 30 months. The Debenture holder will have the right to convert the principal amount of the Debenture into common shares of Sernova at a conversion price of $0.25 per share. “Securing the debenture financing commitment on these favorable terms when Sernova’s Covid-19 impacted shares were trading in the range of $0.13-0.15 was strategic to reduce our cost of capital and minimize both dilution and any impact on existing cash resources,” said David Swetlow, Sernova’s CFO.

Neither the Debenture or Warrants have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and such securities may therefore not be offered or sold in the United States or to or for the account or benefit of a person in the United States or a U.S. Person (as defined in Regulation S of the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the debenture units in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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

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

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.

FORWARD-LOOKING INFORMATION This news release contains 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, and include statements about the closing of the Conformal Coating Technology acquisition and the Debenture issuance and funding. 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. While Sernova considers these assumptions to be reasonable, these assumptions are inherently subject to significant scientific, business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause Sernova’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release.

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 effect on company operations and capital markets of events related to the COVID-19 pandemic, the conduct and outcome of discussions with strategic partners, and expected progress in preclinical programs and 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.

Press Release Communiqué de presse - June 15, 2020 15 June, 2020

Sernova Completes Acquisition of Cellular Local Immune Protection Technology

June 15, 2020 9:00 a.m. EDT

LONDON, ONTARIO – June 15, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage regenerative medicine therapeutics company, is pleased to announce it has completed the acquisition of cellular local immune protection technology from Converge Biotech, Inc. (“Converge”).

“This acquisition is a strategic accelerator for expansion of Sernova’s total regenerative medicine cell therapy therapeutics platform,” stated Dr. Philip Toleikis, Sernova’s President and Chief Executive Officer. “Local immune protection technologies to cloak therapeutic cells have the potential to protect cells from immune system attack within Sernova’s Cell Pouch™ through different and independent mechanisms to eliminate the need for life-long immunosuppression medications.”

Pursuant to the asset acquisition, Sernova acquired all intellectual property associated with Converge’s conformal coating cell encapsulation technology (“Conformal Coating Technology”), including issued patents, patent applications, and know-how.

ABOUT SERNOVA’S CONFORMAL COATING TECHNOLOGY The Conformal Coating Technology consists of a thin proprietary coating layer that effectively cloaks coated therapeutic cells to protect them from an auto-response attack by one’s own immune system post cell transplantation into the body.

The advantages and potential benefits of this novel cell encapsulating technology are as follows:

• provides protection of therapeutic cells from immune system attack locally within Sernova’s Cell Pouch, potentially avoiding the need for life-long immunosuppression medications, that are currently required after cell transplantation;

• enables intimate contact of therapeutic cells with the vascularized tissue matrix of the Cell Pouch improving essential physiological interactions of the cells for survival and function, unlike other micro and macro-encapsulation technologies;

• improves the diffusion of small molecules and biomolecules (i.e., glucose, insulin, and other proteins or hormones), providing a physiological glucose-stimulated insulin response without delay that occurs with other encapsulation technologies; and

• with improved diffusion of biomolecules, may require a smaller load of therapeutic cells to achieve the desired therapeutic effect in comparison to standard microcapsules.

Sernova has also completed its announced $1,000,000 unsecured convertible debenture financing, with the proceeds used to fund the Conformal Coating Technology acquisition. The debenture is repayable on December 9, 2022, unless earlier converted or redeemed, and carries an 8% interest rate. The Company also issued 3,000,000 non-transferable share purchase warrants, each warrant being exercisable into one common share at a price of $0.20 per share up to December 9, 2022. The debenture holder will have the right to convert the principal amount of the debenture into common shares of Sernova at a conversion price of $0.25 per share. The debenture and warrants are subject to a four-month hold period under securities regulations.

Neither the debenture or warrants have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and such securities may therefore not be offered or sold in the United States or to or for the account or benefit of a person in the United States or a U.S. Person (as defined in Regulation S of the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the debenture units in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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

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

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.

FORWARD-LOOKING INFORMATION This news release contains 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. While Sernova considers these assumptions to be reasonable, these assumptions are inherently subject to significant scientific, business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause Sernova’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release.

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 effect on company operations and capital markets of events related to the COVID-19 pandemic, the conduct and outcome of discussions with strategic partners, and expected progress in preclinical programs, clinical trials and technology development. 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 - August 04, 2020 4 August, 2020

Sernova Enters into Exclusive Worldwide License Agreement with University of Miami for Therapeutic Cell Immune Protection Technologies

Sernova expands its intellectual property portfolio and capabilities to develop first-in-class cell therapy solutions for type 1 diabetes and other chronic diseases that eliminate the need for life-long immunosuppression drugs

August 4, 2020 7:00 a.m. EDT

LONDON, ONTARIO – August 4, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical-stage regenerative medicine company developing a ‘functional cure’ for type 1 diabetes and other chronic diseases, announced today it has entered into an exclusive, worldwide license with the University of Miami at Coral Gables, Florida, for the commercial rights to novel conformal coating immune protection technologies. The technologies were developed by Dr. Alice Tomei, Dr. Jeffrey Hubbell, and Aaron Stock (Graduate Student). Dr. Tomei is a leading international expert in immunoprotection and diabetes immunoengineering, of the renowned Diabetes Research Institute (DRI), a designated Center of Excellence at the University of Miami Miller School of Medicine. Dr. Hubbell is the Eugene Bell Professor of Tissue Engineering at the University of Chicago and leading international researcher in immunoengineering.

This exclusive worldwide license agreement is important to Sernova because it broadens the technology scope of Sernova’s immune protection conformal coating technologies and related intellectual property. Furthermore, it adds to a series of recent strategic acquisitions and collaborations for the Company and builds on our goal of protecting Sernova’s therapeutic cells or tissues transplanted into Sernova’s Cell Pouch™ from a detrimental auto-immune system response while eliminating the need for immunosuppressive drugs in treated patients.

“Sernova is further advancing development of its novel Cell Pouch System™ as a therapeutic platform to provide cell therapy solutions to patients with chronic diseases, such as type 1 diabetes, without the current need for life-long immunosuppressive drugs. We believe, with the addition of local immune protection, our breakthrough technologies will have the potential to significantly expand access to and the availability of therapeutic solutions to millions of people as a ‘functional cure’ for the chronic diseases from which they are suffering,” said Dr. Philip Toleikis, President and CEO of Sernova Corp.

Dr. Toleikis continued, “As we continue to advance our first-in-class technologies, we have diligently selected complementary technologies developed by recognized experts in the field such as those by Dr. Tomei and colleagues to add to our Cell Pouch™ platform. With the continued expansion of our regenerative medicine therapeutics platform, we are positioning the Company at the forefront in the development of safe, functional regenerative medicine therapeutics.”

Dr. Alice Tomei, the Director of the Islet Immunoengineering Laboratory at DRI stated, “Following my postdoctoral training in Dr. Hubbell’s laboratory at École Polytechnique Fédérale de Lausanne, Switzerland, I joined the University of Miami where I have focussed my academic career in the pursuit and development of novel cellular immune protection technologies to advance the field of cell therapy. With Sernova’s goal of a ‘functional cure’ for diabetes, supported by its positive preclinical and more recent, emerging clinical safety and efficacy data from the University Chicago clinical trial, I am excited to contribute to the addition of local immune protection technologies provided by conformal coatings as the next important step towards this ultimate goal.”

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.

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.

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.

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.

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.

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.

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.

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.

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.

Press Release Communiqué de presse - January 05, 2022 5 January, 2022

Sernova to Announce New Interim Results of its Type 1 Diabetes Clinical Trial During the 40th Annual J.P. Morgan Healthcare Conference

LONDON, ONTARIO – January 5, 2022 – 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 new interim results from the ongoing safety, tolerability and efficacy Phase I/II clinical trial of Sernova’s Cell Pouch™ will be released on January 10, 2022.

Originally, it was planned that Dr. Piotr Witkowski, principal investigator of Sernova’s Phase I/II clinical trial would present an update in a poster session at the American Society of Transplant Surgeons (ASTS) 22nd Annual “State of the Art” Winter Symposium on January 13, 2022, but the conference was postponed yesterday until the end of July 2022 because of the ongoing COVID-19 pandemic.

“We are pleased to be announcing these new interim data earlier than anticipated in conjunction with the J.P. Morgan conference which is one of the premier international healthcare conferences,” said Dr. Philip Toleikis, President & CEO of Sernova.

ABOUT THE J.P. MORGAN HEALTHCARE CONFERENCE

The annual J.P. Morgan Healthcare Conference is the largest and most informative healthcare investment symposium in the industry which connects global industry leaders, emerging fast growth companies, innovative technology creators and members of the investment community. The J.P. Morgan 40th Annual Healthcare Conference (JPM 2022) will take place virtually, January 10-13, 2022.

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:

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

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

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 - January 10, 2022 10 January, 2022

The Principal Investigator in Sernova’s Type 1 Diabetes (T1D) Trial Confirms Patients with a History of Hypoglycemia Unawareness Are Now Insulin Independent

LONDON, ONTARIO – January 10, 2022 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE / XETRA:PSH), a clinical-stage regenerative medicine and cell therapy therapeutics company developing a potential ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases, is pleased to provide a progress update on its Phase 1/2 T1D clinical trial in conjunction with Dr. Piotr Witkowski, the clinical trial’s Principal Investigator at the University of Chicago. Dr. Witkowski was originally scheduled to provide a clinical trial update at the 2022 American Society of Transplant Surgeons (ASTS) Winter Symposium; however, the conference is now postponed until August 2022 as a result of the ongoing COVID-19 pandemic.

The objective of Sernova’s Phase 1/2 clinical trial is to assess the safety, tolerability and efficacy of its proprietary Cell Pouch™ transplanted with insulin-producing islets in patients with T1D complicated by hypoglycemia unawareness and a history of severe hypoglycemic events. Study patients must meet stringent eligibility criteria including, but not limited to, long-standing T1D, recent episodes of hypoglycemic unawareness and an absence of glucose-stimulated C-peptide detectable in their bloodstream. Study patients are eligible to receive up to three islet cell transplants throughout the study, including two marginal dose transplants into the Cell Pouch and a single, marginal islet supplement transplanted via the portal vein.

Sernova would like to highlight some updated study findings and key points from the ongoing trial:

• the ongoing safety and tolerability of Cell Pouch has been maintained in all study patients; • Islet transplantation to the Cell Pouch resulted in the establishment of new, measurable islet function documented by detectable levels of stimulated C-peptide in the first three patients, who completed the protocol-defined course of transplants. • a supplemental, single intraportal islet transplant was sufficient for the first two patients to achieve and maintain sustained ongoing insulin independence and freedom from severe hypoglycemic events for over 21 and 2 months, respectively. • the third transplanted patient recently completed their course of Cell Pouch transplants and a supplemental intraportal islet infusion, with favorable improvements in glucose control, near-normal levels of C-peptide, an absence of severe hypoglycemic events and reductions in daily insulin use; • the other three enrolled study patients are progressing through the study protocol, as planned. All have received Cell Pouch implants and are at various stages of protocol-defined islet transplants and follow-up; and • a 7th study patient has been identified.

“We are very encouraged by finding detectable serum C-peptide levels after islet transplantation into the Sernova Cell Pouch in the three most advanced study patients. Additionally, we are very excited about the first two patients becoming insulin independent and free from severe hypoglycemic events after a single supplemental intraportal islet infusion,” said Dr. Witkowski. “I look forward to continuing this trial with Sernova as we further optimize our use of the Cell Pouch System and validate its therapeutic potential.”

Dr. Philip Toleikis, President & CEO of Sernova Corp further remarked, “We believe Sernova is the first company to report that its first two transplanted T1D cell therapy study patients achieved sustained insulin independence. We are further reassured that our Cell Pouch System is performing as expected by creating a safe, vascularized, and natural tissue environment inside the human body, allowing the islet cells to thrive and function efficiently following transplantation. As we progress through the trial, under the expert guidance of Dr. Witkowski, we have had several scientific breakthroughs and advancements related to insulin producing cell dynamics and efficacy related to our Cell Pouch technologies. These findings have led to several technical optimizations, including the upcoming introduction of a higher capacity Cell Pouch configuration designed to accommodate the total quantity and distribution of islets that are achieving insulin independence for patients in our clinical trial. This configuration of Cell Pouch has already received regulatory authorization to be used for the remaining trial implants. Sernova is grateful to Dr. Witkowski’s leadership in this trial as we further enhance our therapeutic cell transplantation approach with our goal to achieve a ‘functional cure’ for the patients with complicated T1D.” Sernova has developed its cell therapy platform, the Cell Pouch System, with the vision of treating the millions of patients with T1D and other chronic diseases using immune-protected therapeutic cells, including stem cell- derived technologies. Sernova’s approach is to provide a minimally invasive, retrievable, safe, organ like environment for rapid engraftment and long-term survival of therapeutic cells as well as to avoid blood mediated inflammatory reactions and permit cell retrievability that cannot be achieved with the traditional portal vein transplantation.

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 HYPOGLYCEMIA UNAWARENESS

Hypoglycemia unawareness is a person’s inability to recognize the symptoms of low blood sugar before they become severe or even fatal. It typically occurs when blood glucose levels are below 3.0 mmol/L and is estimated to affect approximately 15% of people with T1D.

Severe symptoms of low blood sugar include confusion, slurred speech, impaired motor coordination and personality changes. Individuals experiencing a severe hypoglycemic event can lose their ability for self-care and self-control, requiring urgent intervention from another person to prevent loss of consciousness, seizure, coma or death. After a person has had a first hypoglycemia unawareness episode, more are likely to occur.

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 CELL THERAPY PLATFORM

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. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that 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 1/2 clinical trial study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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 - January 20, 2022 20 January, 2022

Sernova Announces Peer Reviewed Publication Demonstrating Safety and Efficacy of a Novel Cell Pouch Cell Therapy Approach for Treatment of Severe Hemophilia A

LONDON, ONTARIO – January 20, 2022 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage regenerative medicine and cell therapy therapeutics company developing a potential ‘functional cure’ for chronic diseases is pleased to announce a peer reviewed published scientific journal article highlighting successful development of a novel cell therapy approach for treatment of severe hemophilia A , a serious genetic bleeding disorder caused by missing factor VIII (FVIII) activity in the blood stream.

The journal article entitled “Efficient and Safe Correction of Hemophilia A by Lentiviral Vector-Transduced BOECs in an Implantable device (Sernova’s Cell Pouch™),” was published in the prestigious scientific journal, Molecular Therapy: Methods & Clinical Development, Volume 23, December 2021.

The therapeutic approach includes use of the patient’s own cells obtained from a blood sample, which are then modified using a lentiviral vector-mediated gene transfer procedure using the B-domain deleted form of FVIII under the control of an endothelial-specific promoter and subsequently transplanted within Sernova’s vascularized Cell Pouch into a mouse model of hemophilia A. These cells then provide a continuous therapeutic release of factor VIII into the bloodstream. The publication highlights that the HemAcure Consortium has now successfully demonstrated safety and long-term improvement in blood clotting in a hemophilia A mouse model.

It is estimated that 115,000 people live with hemophilia A in North America and Europe with a significant proportion who rely on regular infusions of FVIII. Treatment costs per patient are as high as US $200,000 each year, with an aggregate therapeutic cost of over US$ 10 billion per year.

“This novel ex vivo gene therapy approach is the first demonstration showing the safety and feasibility of transplantation of lentiviral-corrected blood outgrowth endothelial cells (BOECs) within an implantable medical device using GMP-like procedures for the long-term treatment of hemophilia A,” said the lead author Dr. Antonia Follenzi, MD, PhD, Professor, Department of Health Sciences, School of Medicine, Università del Piemonte Orientale. “If this therapy is successful in future clinical trials, it could become an important new therapeutic approach to improve the quality of life for people suffering with severe hemophilia A.”

Dr. Philip Toleikis, President and CEO Sernova Corp stated, “This publication represents approximately four years of dedicated work by the HemAcure consortium, from conceptualizing this novel treatment approach, through to validating its potential as a safe and long-term treatment option for people with hemophilia A. The Sernova Cell Pouch provides the required environment for transplanted cells to survive and function in the body, as demonstrated by the production of FVIII to improve blood clotting as reported by Dr. Follenzi and colleagues.” He continued, “We recognizes ex vivo gene therapy as a potential therapeutic option for people suffering from multiple rare diseases and we are proud that our technologies may contribute to the development and future delivery of functional cures for these ailments.”

The HemAcure consortium research was supported by funding from the European Commission’s Horizon 2020.

ABOUT HEMOPHILIA A

Hemophilia A is the most common form of hemophilia and is a genetic disorder caused by the reduced or absence of FVIII, a blood clotting protein. People with hemophilia A have prolonged abnormal bleeding as a result of trauma or surgery. While it is passed down from parents to children, about 1/3 of cases are caused by a spontaneous change in the gene responsible for FVIII production. According to the US Centers for Disease Control and Prevention, hemophilia A occurs in about 1 in 5,000 male births. Prolonged bleeding in high-risk areas such as the brain can be catastrophic, while persistent bleeding in joints results in permanent damage making joint replacement surgery common and risky procedures among these patients. Approximately 115,000 people in North America and Europe have hemophilia A. Although there is no cure for the disease, hemophilia A can be controlled with medications to supplement or replace the missing FVIII. Annual worldwide costs for the treatment of the disease for each patient may range from $60,000 to $260,000 US for an aggregate therapeutic cost of approximately $15B per year.

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.

ABOUT HORIZON 2020 PROGRAM AND HEMACURE

Horizon 2020 was the biggest EU Research and Innovation program ever with nearly €80 billion of funding available over seven years (2014 to 2020). It promised more breakthroughs, discoveries and world-firsts by taking great ideas from the lab to the market. The project was funded as part of societal challenges “personalizing health and care” in a specific call about innovative treatments and technologies. The overall objective of the HemAcure project was to develop and refine the tools and technologies for a novel ex vivo prepared cell-based therapy to treat the bleeding disease, hemophilia A (caused by a genetic deficiency in clotting Factor VIII (FVIII)) that should ultimately lead to improved quality of life of the patients. The European Union's Horizon 2020 research and innovation program awarded approximately €5.5 million (CDN$8.5) to support the project. International consortium members included the University Hospital Würzburg (Coordinating Institute), Germany; IMS - Integrierte Management, Heppenheim, Germany; Università del Piemonte Orientale “Amedeo Avogadro,” Novara, Italy; Loughborough University, Loughborough, United Kingdom; ARTTIC International Management Services, Munich, Germany and Sernova Corp., London, Ontario, Canada. This project received funding from the European Union’s Horizon 2020 Research and Innovation Programme under grant agreement No 667421. The Consortium worked together to provide sets of design and manufacturing protocols, based on current European GMP regulations to prepare an Investigational Medicinal Product Dossier (IMPD) for an Investigational Medicinal Product (IMP), composed of therapeutic cells and an implantable medical device (Sernova’s Cell Pouch).

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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 - January 27, 2022 27 January, 2022

Sernova Announces Peer Reviewed Publication Demonstrating Positive Preclinical Safety and Efficacy Indicators of Its Novel Cell Pouch System™ Therapeutic Approach for Treatment of Thyroid Disease

Sernova prepares for clinical trial of new treatment for post-operative hypothyroidism

LONDON, ONTARIO – January 27, 2022 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage regenerative medicine and cell therapy therapeutics company developing a potential ‘functional cure’ for chronic diseases including type 1 diabetes (T1D) is pleased to announce publication of a peer reviewed preclinical study demonstrating positive results of a novel Cell Pouch System™ cell therapy approach to treat hypothyroidism and potentially avoid lifelong dependence on thyroid medication following surgical removal of the thyroid gland.

The journal article entitled “Subcutaneous transplantation of human thyroid tissue into a pre-vascularized Cell Pouch™ device in a Mus musculus model: Evidence of viability and function for thyroid transplantation,” by lead author, Dr. Sam M. Wiseman was published in the prestigious scientific journal, PLOS ONE, January 20, 2022. In this study, thyroid tissue from patients undergoing surgery for treatment of benign disease was transplanted into Sernova Cell Pouches that had been previously implanted into laboratory mice. The aim of the study was to investigate the long-term survival of human thyroid tissue in the Cell Pouch and evaluate the ability of these thyroid transplants to release thyroid hormones into the bloodstream. The study confirmed that the human thyroid tissue transplanted into the Cell Pouch survived and released human thyroglobulin into the bloodstream, with no adverse effects for the three-months duration of the study. Thyroglobulin was used as a biomarker efficacy measure in this study as it is the precursor of thyroid hormones.

“I’m very excited about this study because it represents a critical first step towards a future where we can offer our patients a treatment option that allows for preservation of their thyroid function with avoidance of postoperative hypothyroidism, its many associated morbidities and life-long dependence on thyroid medication,” commented Sam M. Wiseman BSc, MD, FRCSC, FACS.

Dr. Philip Toleikis, President and CEO Sernova Corp stated, “For hypothyroid disease, these data support the potential of our Cell Pouch to allow for a recovery of the natural thyroid hormone feedback system following thyroidectomy, restoring thyroid hormone levels without the risks and side effects associated with hormone replacement drugs. This could provide life-changing options for the more than 150,000 patients who undergo a thyroidectomy in the US, alone, each year. These preclinical data are consistent with our findings utilizing the Cell Pouch in the treatment of T1D and Hemophilia A. We believe the Sernova Cell Pouch System therapeutic approach could provide a ‘functional cure’ for millions of patients who suffer from afflictions caused by the absence of systemic proteins or hormones.”

Sernova Corp., with Dr. Wiseman as clinical investigator, is preparing regulatory documents to proceed with a Phase 1/2 human clinical trial in subjects undergoing thyroid surgery. In this study, the subjects will be implanted with the Cell Pouch to create the vascularized tissue environment several weeks prior to transplant of their healthy thyroid tissue. The objective of the study is to assess the safety and efficacy of the Cell Pouch transplanted tissue, with efficacy measured as recovery of thyroid hormone in the bloodstream. The Company expects to submit a clinical trial application within 2022.

The thyroid gland produces hormones that regulate metabolism within a narrow functional range. Thyroid hormone replacement drugs are frequently used to treat insufficient or absent thyroid activity. Optimization of thyroid hormone replacement medications can be difficult with dose adjustments requiring frequent lab tests to reach appropriate levels. Thyroid hormone replacement therapy is associated with several side-effects including impaired cognition, lethargy, and weight gain, leading to diminished quality of life, and incurring significant ongoing costs to the patient and healthcare system.

ABOUT THYROID DISEASE

Surgical removal of the thyroid gland, or thyroidectomy, is commonly performed for management of thyroid cancers, and for treatment of benign (non-cancerous) diseases that include nodules, goitre, and hyperthyroidism. It is estimated that about 150,000 thyroidectomies are performed in the U.S. annually, with most individuals undergoing thyroid surgery eventually being diagnosed with benign conditions. Some patients undergoing partial thyroidectomy and all patients undergoing total thyroidectomy require life-long oral postoperative thyroid hormone replacement treatment.

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, thyroid disease 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 PLATFORM

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. Sernova is currently conducting a Phase 1/2 study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

  FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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 - February 24, 2022 24 February, 2022

Sernova Corp Ranks Among Top 50 Performing Companies on the 2022 TSX Venture List

Sernova awarded top performer status for two years standing

February 24, 2022 7:30 a.m. EST

LONDON, ONTARIO – February 24, 2022 – 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 that it has been named as one of the top 50 performers on the TSX Venture Exchange.

The 2022 TSX Venture Top 50 is a ranking of top performers on the TSX Venture Exchange over the last year based on three equally weighted criteria: share price appreciation, average trading volume and market capitalization growth.

“We are honored by the TSX Venture Exchange recognition of Sernova as a 2022 Top 50 recipient company. Being awarded this title two years in a row is strong validation of our persistent dedication to increasing shareholder value as we continue to deliver on our strategic plan to build a leadership position in the regenerative medicine cell therapy therapeutics field. In 2022, we look forward to driving continued success through, evolving our clinical programs, further developing our pharmaceutical partnerships and by advancing our capital market initiatives,” said Dr. Philip Toleikis, Chief Executive Officer of Sernova.

As part of the award, the TSX Venture Exchange sponsored a Q&A highlight interview with Dr. Toleikis. To view the video, please https://share.vidyard.com/watch/dsfSgoQyYi87x8pj8oUEz6 and for the complete list of 2022 TSX Venture 50 companies.

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:

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

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

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 - March 17, 2022 17 March, 2022

Data Safety Monitoring Board Recommends Continuation of Phase 1/2 Clinical Trial with Sernova’s Cell Pouch System™ in Patients with Type-1 Diabetes

Confirms Ongoing Safety and Tolerability of Sernova’s Cell Pouch

March 17, 2022 10:00 a.m. EDT

LONDON, ONTARIO – March 17, 2022 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage company and leader in regenerative medicine cell therapeutics, is pleased to announce that the Data Safety Monitoring Board ("DSMB") has completed the third annual review of Sernova’s ongoing Phase 1/2 clinical study “Safety, Tolerability and Efficacy Study of Sernova’s Cell Pouch for Clinical Islet Transplantation” in patients with Type-1 Diabetes (T1D) who suffer from hypoglycemia unawareness and severe hypoglycemic events.

In their assessment, the DSMB recommended that the clinical study should continue according to the study plan.

The DSMB is an independent committee of clinical experts who review the accumulated trial data to evaluate patient safety and ensure the integrity of the study data.

“This recommendation from the DSMB affirms our understanding of the safety of Cell Pouch in this patient population transplanted with human donor islets. We look forward to sharing updates from the study through upcoming conference presentations by Dr. Piotr Witkowski, the trial Principal Investigator.” said Dr. Philip Toleikis, President & CEO of Sernova Corp.

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 HYPOGLYCEMIA UNAWARENESS Hypoglycemia unawareness is a person’s inability to recognize the symptoms of low blood sugar before they become severe enough to be incapacitating or even fatal, which may occur when blood glucose levels are below 3.0 mmol/L. It is estimated that approximately 15% of people with T1D, or approximately 240,000 people, are affected by hypoglycemia unawareness in the US alone. Severe symptoms of low blood sugar include confusion, slurred speech, impaired motor coordination and personality changes. Individuals experiencing a severe hypoglycemic event can lose their ability for self-care and self-control, requiring urgent intervention from another person to prevent loss of consciousness, seizure, coma, or death. After a person has had a first hypoglycemia unawareness episode, more are likely to occur.

ABOUT SERNOVA Sernova is developing regenerative medicine cell 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 CELL THERAPY PLATFORM 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. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that 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 1/2 clinical trial study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

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

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

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 17, 2022 17 May, 2022

Sernova and Evotec Enter into an Exclusive Global Strategic Partnership for iPSC-Based Beta Cell Replacement Therapy to Develop and Commercialize a 'Functional Cure' for Diabetes

• Partnership Leverages Sernova’s Proprietary Cell Pouch System™ with Evotec’s iPSC-Based Insulin- Producing Beta Cells • Partners to Develop and Commercialize an Off-The-Shelf Cell Replacement Therapy for Treatment of Patients with Insulin-Dependent Diabetes • Evotec to Make Strategic Equity Investment of CAD $27 M / €20 M in Sernova • Sernova / Evotec Joint Conference Call and Webcast at 8:30 am EDT May 17, 2022

LONDON, ONTARIO – May 17, 2022 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a clinical-stage company and leader in regenerative medicine cell therapeutics, and Evotec SE (FSE: EVT; NASDAQ: EVO), a global pharmaceutical and life science company, and leading developer of iPSC cell technologies for therapeutic applications, are pleased to announce an exclusive global strategic partnership to develop a best-in-class cell therapy treatment for people living with insulin-dependent diabetes. The two Companies will combine and leverage their respective technologies and scientific expertise to develop an implantable iPSC-based (induced pluripotent stem cells) beta cell replacement therapy to provide an unlimited insulin-producing cell source to treat patients with insulin-dependent diabetes.

The collaboration agreement is a transformative partnership that combines Sernova’s Cell Pouch System technologies, which has demonstrated Phase 1/2 clinical proof-of-concept using human donor islets, with Evotec’s iPSC-based beta cells. Incorporating Evotec’s insulin-producing, ethically-derived beta cells within Sernova’s Cell Pouch platform creates the potential to provide a ‘functional cure’ for millions of people suffering from diabetes using a cGMP controlled and scalable off-the-shelf product.

With its long-standing beta cell development program, Evotec has demonstrated the ability to reliably produce an unlimited supply of high quality, stable, human iPSC-derived beta cells using its proprietary process for producing islet-like clusters in a quality-controlled scalable bioreactor process. These islet-like clusters have now been proven to be functionally equivalent to primary human islets in their ability to normalize blood glucose using in vivo models of type 1 diabetes (T1D).

The partnership provides Sernova a global exclusive option to license Evotec’s iPSC-based beta cells for use in treating both type 1 and type 2 diabetes. In addition to entering into the collaboration agreement, Evotec has made a strategic equity investment of €15M and will make a further investment of €5M. Specifically, concurrently with the entering into the collaboration agreement, Evotec acquired a total of 12,944,904 common shares at a price of CAD $1.57 per share for gross proceeds to Sernova of $20,323,500. In addition, pursuant to an unconditional purchase warrant, Evotec will acquire, on or before August 31, 2022, a further 2,709,800 common shares at a price of CAD$2.50 per share for gross proceeds of $6,774,500. All of the securities issued to Evotec are subject to a four month hold period.

Further to the collaboration and Evotec’s strategic equity investment, Dr. Cord Dohrmann, Chief Scientific Officer of Evotec will join Sernova’s Board of Directors.

Dr. Philip Toleikis, President, and Chief Executive Officer of Sernova, commented, “In tandem with our current clinical islet cell program, Sernova entered into multiple pharmaceutical research collaborations to identify the highest quality and most compatible iPSC cell technology, and validate the cells preclinically within our Cell Pouch System. Evotec is an iPSC powerhouse having dedicated many years and substantial resources to developing high quality and stable stem cell technologies for multiple therapeutic applications. In every sense, both as a global strategic partner and as an iPSC expert, Evotec has exceeded all our expectations and Dr. Dohrmann’s appointment to Sernova’s Board adds significant regenerative medicine depth and cell therapy expertise. Today’s announcement of this joint iPSC beta-cell partnership completes the three pillars of our diabetes cell therapy platform. Alongside our clinically validated Cell Pouch System and recently acquired conformal coating immune protection technology, this now establishes a total regenerative medicine cell therapy solution for insulin-dependent diabetes.”

Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented, “We searched long and hard for the right partner. Sernova clearly ticks all boxes with their clinically validated Cell Pouch™ technology, which fits perfectly to Evotec’s iPSC-based beta cells. Together we will progress a highly differentiated first-in-class beta cell therapy into clinical development with the common goal to bring a truly transformative therapy to insulin- dependent diabetic patients. The synergies of Evotec’s and Sernova’s technologies puts Sernova in position to become the world’s leader in beta cell replacement therapy. Our equity investment underlines our strategic interest in this collaboration with Sernova. I am very much looking forward to collaborating with Sernova on the project as well as contributing to their Board of Directors.”

Sernova has acquired an option for an exclusive global license to Evotec’s Induced Pluripotent Stem Cell (iPSC)-based Beta cells to treat patients with insulin-dependent diabetes. From an operational perspective, the preclinical development program(s) will be jointly funded by Sernova and Evotec until IND acceptance. Sernova has the right to exercise its option for an exclusive global license upon IND filing. Evotec will contribute its cell manufacturing capabilities through research, development and product commercialization and will decide in the future on the joint funding of clinical development. Upon commercialization, there will be a profit-sharing arrangement between the two companies, with the split being dependent on Evotec’s participation in funding the clinical development program.

Joint Sernova / Evotec Conference Call and Webcast Details:

Date: Tuesday, May 17, 2022 Time: 8:30 am EDT US Toll Free: 1-877-704-4453 International: 1-201-389-0920 Conference ID: 13730121 Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1550130&tp_key=3de87cce1d

A simultaneous slide presentation will be available via the above webcast link.

ABOUT SERNOVA CORP AND THE CELL POUCH SYSTEM CELL THERAPY PLATFORM

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.

The Cell Pouch, as part of the Cell Pouch System, is a proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that 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 1/2 clinical trial study at the University of Chicago. Encouraging interim results have been presented at several international scientific conferences. For more information, please visit www.sernova.com

ABOUT EVOTEC AND iPSC

Induced pluripotent stem cells (also known as iPS cells or iPSCs) are a type of pluripotent stem cell that can be generated directly from adult cells. The iPSC technology was pioneered by Shinya Yamanaka’s lab in Kyoto, Japan, who showed in 2006 that the introduction of four specific genes encoding transcription factors could convert adult cells into pluripotent stem cells. He was awarded the 2012 Nobel Prize along with Sir John Gurdon “for the discovery that mature cells can be reprogrammed to become pluripotent”. Pluripotent stem cells hold great promise in the field of regenerative medicine. Because they can propagate indefinitely, as well as give rise to every other cell type in the body (such as neurons, heart, pancreatic and liver cells), they represent a single source of cells that could be used to replace those lost to damage or disease.

Evotec has built an industrialised iPSC infrastructure that represents one of the largest and most sophisticated iPSC platforms in the industry. Evotec’s iPSC platform has been developed over the last years with the goal to industrialise iPSC-based drug screening in terms of throughput, reproducibility and robustness to reach the highest industrial standards, and to use iPSC-based cells in cell therapy approaches via the Company’s proprietary EVOcells platform.

For further information contact:

Corporate and Investors:

Sernova Corp Christopher Barnes Tel: (519) 858-5126 christopher.barnes@sernova.com www.sernova.com

Investors:

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

Media:

Elizabeth Miller, MD LifeSci Communications emiller@lifescicomms.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 development of new technologies, cell therapy solutions and or products. The information disclosed represents results from one patient and may not be representative of all study patients or of the final study results. 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 24, 2022 24 May, 2022

Sernova Receives Conditional Approval to Up-list to the Toronto Stock Exchange

London, Ontario – May 24, 2022 – Sernova Corp. (TSX-V:SVA; OTCQB:SEOVF; FSE/XETRA:PSH), a clinical- stage company and leader in regenerative medicine cell therapeutics, is pleased to announce that it has received conditional approval to list its common shares on the Toronto Stock Exchange (the "TSX") and move off of the TSX Venture Exchange ("TSXV").

Final approval of the listing is subject to the Company meeting certain customary conditions required by the TSX. The company will issue a press release once the TSX confirms the date when trading of Sernova’s common shares is expected to commence on the TSX. Upon completion of the final listing requirements, Sernova’s common shares will be delisted from the TSXV.

Dr. Philip Toleikis, President and CEO of Sernova Corp commented, “Moving onto the Toronto Stock Exchange represents a milestone achievement in our evolution as an emerging regenerative medicine company. Up- listing will provide enhanced liquidity and bring new visibility and investors into the company as we advance our therapeutic cell therapy platform with the goal to provide ‘functional cures’ for multiple diseases including type one diabetes, hemophilia and thyroid disease.”

Shareholders are not required to exchange their share certificates or take any other action in connection with the TSX listing, as there will be no change in the trading symbol or CUSIP for the common shares. The Company will continue to trade its common shares on the OTCQB market in the United States under the symbol "SEOVF", and the Frankfurt exchange under the symbol "PSH".

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

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.

The Cell Pouch™ is a proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that 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 1/2 clinical trial study at the University of Chicago. Encouraging interim results have been presented at several international scientific conferences.

For more information, please visit www.sernova.com

For further information contact:

Corporate and Investors: Sernova Corp. Christopher Barnes Tel: (519) 858-5126 christopher.barnes@sernova.com www.sernova.com

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

Media: Elizabeth Miller, MD LifeSci Communications emiller@lifescicomms.com

Neither the TSXV nor the TSX accepts responsibility for the adequacy or accuracy of this news release.

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 development of new technologies, cell therapy solutions and or products. The information disclosed represents results from one patient and may not be representative of all study patients or of the final study results. 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 01, 2022 1 June, 2022

SERNOVA SHARES TO COMMENCE TRADING ON TSX ON JUNE 2, 2022

June 1, 2022 6:00 a.m. EDT

London, Ontario – June 1, 2022 – Sernova Corp. (TSX-V:SVA; OTCQB:SEOVF; FSE/XETRA:PSH), a clinical- stage company and leader in regenerative medicine cell therapeutics, is pleased to announce that its common shares have been approved for listing on the Toronto Stock Exchange (the "TSX") and will commence trading on the TSX at the opening of market on June 2, 2022. Concurrent with the TSX listing, the common shares of the Company will be delisted from the TSX Venture Exchange.

Shareholders are not required to exchange their share certificates or take any other action in connection with the TSX listing, as there will be no change in the trading symbol or CUSIP for the common shares. The Company will continue to trade its common shares on the OTCQB market in the United States under the symbol "SEOVF", and the Frankfurt exchange under the symbol "PSH".

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

The Cell Pouch™ is a proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that 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 1/2 clinical trial study at the University of Chicago. Encouraging interim results have been presented at several international scientific conferences.

For more information, please visit www.sernova.com

For further information contact:

Corporate and Investors: Sernova Corp. Christopher Barnes Tel: (519) 858-5126 christopher.barnes@sernova.com www.sernova.com

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

Media: Elizabeth Miller, MD LifeSci Communications emiller@lifescicomms.com

Neither the TSXV nor the TSX accepts responsibility for the adequacy or accuracy of this news release.

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 development of new technologies, cell therapy solutions and or products. The information disclosed represents results from one patient and may not be representative of all study patients or of the final study results. 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 06, 2022 6 June, 2022

Sernova Announces Positive Updated Phase 1/2 Clinical Data on Cell Pouch System™ at American Diabetes Association 82nd Scientific Sessions 2022

• Researchers from the Dr. Piotr Witkowski Laboratory at the University of Chicago presented updated data on six patients with type 1 diabetes and hypoglycemia unawareness • The first three patients have been insulin independent for over 2 years, 6 months, and 3 months, respectively • Those first three patients with islets transplanted into the Cell Pouch™ subsequently presented positive serum C-peptide values confirming active insulin production by the Cell Pouch islet grafts • The Cell Pouch was well tolerated with implant durations exceeding 35 months

LONDON, Ontario – June 6, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical- stage company and leader in regenerative medicine cell therapeutics, today announced the presentation of clinical data from its Phase 1/2 clinical trial supporting the potential of its proprietary Cell Pouch System to provide a ‘functional cure’ for insulin-dependent diabetes. The updated data from the ongoing study being conducted by Piotr Witkowski, M.D., Ph.D. at the University of Chicago, were presented as an oral podium presentation at the American Diabetes Association (ADA) 82nd Scientific Sessions, held from June 3-7, 2022, at the Ernest N. Morial Convention Center in New Orleans, LA.

The presented data, from the Dr. Piotr Witkowski Laboratory at the University of Chicago, reviewed the six patients who lived with long-standing insulin-dependent type 1 diabetes (T1D) and hypoglycemia unawareness prior to study treatment who underwent both Cell Pouch implantation and islet transplantation. Graft function was measured by blood glucose, patient insulin usage, and C-peptide, a widely used measure of islet function. The first three patients achieved complete and sustained insulin independence. Three additional patients on study did not maintain optimal immunosuppression, which has now been resolved enabling those patients to receive further protocol-defined islet transplants.

Key findings from interim clinical update: • Surgical implantation of the Cell Pouch was found to be generally well tolerated with a favorable safety profile • All patients who had favorable immunosuppression achieved complete insulin independence o The first three transplanted patients presented positive serum C-peptide values confirming active insulin production after islet transplantation into the Sernova Cell Pouch o Supplemental marginal dose islet transplantation via the portal vein was sufficient to allow those three patients to achieve and maintain insulin independence for over 2 years, 6 months, and 3 months, respectively o Insulin independent patients have HbA1c in the normal range: 5.0, 5.2, and 5.2%, respectively

• Dr. Witkowski further optimized outcomes in the ongoing clinical trial: o Replacing patients’ own plasma with serum as the islet suspension medium o Decreasing the concentration of islet suspensions transplanted to Cell Pouch resulted in greater stimulated C-peptide o The Cell Pouch implantation procedure was optimized with two shorter incisions to minimize infection risk and enhance healing o Implementing a higher capacity Cell Pouch System, that has been developed by Sernova, will provide approximately 50% more volume to accommodate more islets at the optimal concentration for use in future implantation procedures

“Despite some advances in the diabetes space, insulin-dependent diabetes patients continue to require numerous injections daily, and for those with hypoglycemia unawareness, it can be increasingly life threatening. We are committed to developing a ‘functional cure’ to potentially free patients from the life-limiting burdens of this disease,” said Dr. Philip Toleikis, President and Chief Executive Officer of Sernova. “We are encouraged by the data demonstrating our Cell Pouch System has been well tolerated and multiple patients remain insulin independent. We remain on track to further dose the three aforementioned subjects and to implement the higher capacity Cell Pouch System in the next implanted patients.”

The incidence of T1D in the U.S. (in ages 0 to 64 years) is estimated to be 64,000 cases annually, with a predicted prevalence of 5 million people by 2050 (1,2). The annual direct cost of healthcare expenditures and lost income from T1D has been estimated as $16 billion (3). Sernova’s Cell Pouch System is designed to address this vastly expanding need by providing a ‘functional cure’ for the millions of people afflicted by insulin-dependent diabetes worldwide. Sernova is also addressing the life-threatening complication of hypoglycemia unawareness (HU) in patients with T1D. HU is a person’s inability to recognize the symptoms of low blood sugar before it becomes severe enough to be incapacitating or even fatal. About 1 in 5 people with T1D report experiencing hypoglycemia unawareness (4).

Dr. Piotr Witkowski, Director of Pancreatic Islet Transplantation Program at University of Chicago and study Principal Investigator added, “The data coming out of the Cell Pouch and islet transplantation trial show incredible promise for insulin-dependent diabetes patients. I am excited about the potential impact on the field and look forward to seeing continued progression of the data from this trial.”

Sernova recently entered into a global strategic partnership with Evotec A.G., a Nasdaq listed biotechnology company, to develop an implantable off-the-shelf induced pluripotent stem cell (iPSC) -based beta cell replacement therapy, which will provide Sernova with an unlimited supply of insulin-producing cells, circumventing any potential future islet supply issues. Sernova is also working to eliminate the need for chronic immunosuppression with cell transplants by incorporating technology developed by Dr. Alice Tomei’s laboratory at the University of Miami, to protect cells from immune system recognition.

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

1. Rogers MAM, Kim C, Banerjee T, Lee JM. Fluctuations in the incidence of type 1 diabetes in the United States from 2001 to 2015: a longitudinal study. BMC Med. 2017;15(1):199. Published 2017 Nov 8. doi:10.1186/s12916-017-0958-6

2. Dabelea D, Mayer-Davis EJ, Saydah S, et al. Prevalence of type 1 and type 2 diabetes among children and adolescents from 2001 to 2009. JAMA. 2014;311(17):1778-1786. doi:10.1001/jama.2014.3201

3. American Diabetes Association. Economic Costs of Diabetes in the U.S. in 2017. Diabetes Care. 2018;41(5):917-928. doi:10.2337/dci18-0007

4. Reno CM, Litvin M, Clark AL, Fisher SJ. Defective counterregulation and hypoglycemia unawareness in diabetes: mechanisms and emerging treatments. Endocrinol Metab Clin North Am. 2013;42(1):15-38. doi:10.1016/j.ecl.2012.11.005

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

Sernova Corp is a clinical-stage biotechnology company that is developing regenerative medicine therapeutic technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders like hemophilia A. Sernova is currently focused on finding a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell-Pouch SystemTM, a novel implantable and scalable medical device which forms a natural environment in the body for long-term survival and function of therapeutic cells that release necessary proteins or factors missing from the body to treat chronic diseases. Sernova’s Cell Pouch System has already shown it can potentially provide a ‘functional cure’ to people with type 1 diabetes in an ongoing Phase I/II study at the University of Chicago. Sernova is also working on technology with the University of Miami to cloak the implant from the immune system, to eliminate the need for immunosuppressives to protect the cells from immune system attack. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC-based (induced pluripotent stem cells) beta cell replacement therapy. This partnership provides Sernova an unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova is also gearing up to be in the clinic in two programs that utilize its Cell Pouch System – an implantable cell therapy for benign thyroid disease resulting from thyroid gland removal and an ex-vivo lentiviral factor 8 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

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.

Dr. Philip M. Toleikis

President, CEO Président, Chef de la Direction

BA, MSc, PhD

Dr. Toleikis is President and Chief Executive Officer of Sernova Corp since April 2009. From 2006 until 2009, Dr. Toleikis consulted for multiple device, combination product and pharmaceutical companies. From 1996 to 2006 he held multiple roles at Angiotech Pharmaceuticals, Inc. including Vice President, Research and Development – Pharmacology and Drug Screening where he built a product development team of over 50 scientists and was responsible for multiple corporate and academic product development collaborations. While at Sernova, Dr. Toleikis has secured over $60 million in various forms of financings, including equity raises and multiple non-dilutive grants and has been responsible for negotiating a worldwide exclusive license with UHN and University of Miami for its stem cell derived technologies as well as developing business relationships and or collaborations with multiple pharmaceutical and academic institutions involving its Cell Pouch™ device and cell technologies. Le Dr Toleikis est président et chef de la direction de Sernova Corp depuis avril 2009. De 2006 à 2009, le Dr Toleikis a consulté pour de multiples appareils, produits combinés et sociétés pharmaceutiques. De 1996 à 2006, il a occupé plusieurs postes chez Angiotech Pharmaceuticals, Inc., notamment celui de vice-président, Recherche et développement - Pharmacologie et dépistage des médicaments, où il a mis sur pied une équipe de développement de produits de plus de 50 scientifiques et était responsable de multiples collaborations de développement de produits en entreprise et dans le monde universitaire. Pendant son séjour à Sernova, le Dr Toleikis a obtenu plus de 60 millions de dollars sous diverses formes de financement, y compris des augmentations de capital et de multiples subventions non dilutives et a été chargé de négocier une licence exclusive mondiale avec UHN et l'Université de Miami pour ses technologies dérivées de cellules souches. ainsi que le développement de relations commerciales et / ou de collaborations avec plusieurs institutions pharmaceutiques et universitaires impliquant son appareil Cell Pouch ™ et ses technologies cellulaires.

Dr. Toleikis is an author of over 100 patent applications ande issued patents, and multiple scientific publications involving transplantation, metabolic, cardiovascular, oncology, and autoimmune disease. He obtained his Ph.D. in Medicine, Pharmacology and Therapeutics from the University of British Columbia, his M.Sc. at the University of Michigan and B.A. at the University of Vermont. Le Dr Toleikis est l'auteur de plus de 100 demandes de brevet et a délivré des brevets et de multiples publications scientifiques portant sur la transplantation, le métabolisme, le cardiovasculaire, l'oncologie et les maladies auto-immunes. Il a obtenu son doctorat. en médecine, pharmacologie et thérapeutique de l'Université de la Colombie-Britannique, son M.Sc. à l'Université du Michigan et B.A. à l'Université du Vermont.

David Swetlow

Chief Financial Officer Directeur financier

David is a high tech and life sciences/biotech veteran with over 20 years in various senior management, board & advisory roles predominantly for start-up, acceleration, and high growth stage companies, including multiple companies listed on the TSX and Nasdaq such as QLT Inc., Protox Therapeutics Inc., and Xillix Technologies. David’s life sciences/biotech experience includes biopharmaceutical, medical device, and drug/device combination technologies and products. David est un vétéran de la haute technologie et des sciences de la vie et de la biotechnologie. Il compte plus de 20 ans d'expérience dans divers postes de direction, conseil et conseil, principalement pour des entreprises en phase de démarrage, d'accélération et à forte croissance, dont plusieurs sociétés cotées à la TSX et au Nasdaq, telles que QLT. Inc., Protox Therapeutics Inc. et Xillix Technologies. L’expérience de David dans le domaine des sciences de la vie et de la biotechnologie comprend des technologies et des produits biopharmaceutiques, des dispositifs médicaux et des combinaisons médicaments / dispositifs.

David holds a Bachelor of Business Administration degree from Simon Fraser University (SFU) and obtained his CA designation while at Deloitte. Entrepreneurial in nature, David has also started and run a few businesses of his own during his career. David est titulaire d'un baccalauréat en administration des affaires de l'Université Simon Fraser (SFU) et a obtenu son titre de CA chez Deloitte. De nature entrepreneuriale, David a également créé et dirigé quelques entreprises tout au long de sa carrière.

Furthering his personal mission of supporting science and stimulating technology innovation, David served on the Board of Directors for the Saskatchewan Science Center and was a member of its Finance, Audit & Risk Committee from 2018 to 2021. Previously David also served on the council of CMC-Saskatchewan, the provincial institute of CMC-Canada (the Canadian Association of Management Consultants), as Public Representative appointed and re-appointed for three-year terms by the Brad Wall led provincial government. Poursuivant sa mission personnelle de soutenir la science et de stimuler l'innovation technologique, David a siégé au conseil d'administration du Saskatchewan Science Centre et a été membre de son comité des finances, de l'audit et des risques de 2018 à 2021. Auparavant, David a également siégé au conseil de CMC. -Saskatchewan, l'institut provincial de CMC-Canada (l'Association canadienne des consultants en gestion), en tant que représentant du public nommé et reconduit pour un mandat de trois ans par le gouvernement provincial dirigé par Brad Wall.

David was also previously a co-founding Director of TSX Venture company OMNItech Capital Corp. and served as Director and Audit Committee Chairman for successor companies One Person Health Sciences Inc and HealthPricer Interactive Ltd. David a également été cofondateur de OMNItech Capital Corp., société cotée à la Bourse de croissance TSX, et administrateur et président du comité d'audit pour les sociétés remplaçantes One Person Health Sciences Inc et HealthPricer Interactive Ltd.

As an active sports and outdoor enthusiast, David enjoys playing hockey, golf, skiing and outdoor-oriented activities. In the past, David also coached several boys and co-ed soccer teams and served in various executive capacities running a community-based soccer club. Passionné de sports et de plein air, David aime jouer au hockey, au golf, au ski et aux activités de plein air. Dans le passé, David a également entraîné plusieurs garçons et des équipes mixtes de football et a occupé divers postes de direction à la tête d'un club de football communautaire.

Frank Shannon

Vice President, Clinical Development and Regulatory Affairs Vice-président, Développement clinique et affaires réglementaires

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. M. Shannon a plus de 25 ans d'expérience avérée dans le développement clinique et les affaires réglementaires. Il a occupé des postes de direction au sein des industries internationales des dispositifs médicaux, pharmaceutiques et biologiques où il a atteint des objectifs commerciaux grâce à des stratégies innovantes de gestion des risques et d'exécution, afin d'obtenir l'approbation de commercialisation des produits.

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 2016. 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. M. Shannon a récemment occupé le poste de vice-président du développement clinique, des affaires réglementaires et de la qualité chez Ripple Therapeutics, une entreprise dérivée d'Interface Biologics où il occupait le même poste depuis 2016. Avant ces nominations, il a occupé divers postes cliniques/réglementaires supérieurs chez Baxter International, St. Jude Medical, Boehringer-Ingelheim, Hoffmann-La Roche/Roche Laboratories, Inc., Genentech Canada, Inc. et Ciba-Geigy Canada, Ltd.

Chris Barnes

Vice President, Investor Relations Vice-président, Relations avec les investisseurs

Chris has worked in financial services for 23 years, first as an investor relations consultant, then as the investor relations officer for Extendicare Inc., a large North American nursing home company listed on both the TSX and NYSE. Subsequently Chris moved directly into capital markets as an IIROC registered institutional sales person with three Toronto based investment boutiques, including Fraser Mackenzie, Octagon Capital and Pace Securities covering accounts in Canada, the United States and Europe. Chris holds a bachelor’s degree in English and Political Science from Laurentian University plus he completed the Richard Ivey School of Business at University of Western Ontario, Strategic Investor Relations diploma. Chris a travaillé dans les services financiers pendant 23 ans, d'abord en tant que consultant en relations avec les investisseurs, puis en tant que responsable des relations avec les investisseurs pour Extendicare Inc., une grande société nord-américaine de maisons de soins infirmiers cotée à la fois à la Bourse de Toronto et à la Bourse de New York. Par la suite, Chris est passé directement aux marchés des capitaux en tant que vendeur institutionnel inscrit auprès de l'OCRCVM auprès de trois boutiques d'investissement basées à Toronto, dont Fraser Mackenzie, Octagon Capital et Pace Securities couvrant des comptes au Canada, aux États-Unis et en Europe. Chris détient un baccalauréat en anglais et en sciences politiques de l'Université Laurentienne et il a complété le diplôme en relations stratégiques avec les investisseurs de la Richard Ivey School of Business de l'Université de Western Ontario.

Chris enjoys golf, competitive swimming, baseball and hockey. Chris aime le golf, la natation de compétition, le baseball et le hockey.

Delfina Siroen

Senior Director Research and Development Directeur principal Recherche et développemente

Delfina has over 25+ years of expertise in senior management roles in Research and Development, Clinical, Regulatory and Product Development with extensive working expertise in biochemistry, cell and molecular biology, immunology, animal model development, and surgery with product development experience in regenerative medicine combination products involving therapeutic cells and implantable devices. Delfina possède plus de 25 ans d'expertise dans des postes de direction en recherche et développement, clinique, réglementaire et développement de produits avec une vaste expérience de travail en biochimie, biologie cellulaire et moléculaire, immunologie, développement de modèles animaux et chirurgie avec une expérience de développement de produits en médecine régénérative produits combinés impliquant des cellules thérapeutiques et des dispositifs implantables.

Delfina holds a graduate degree from the University of Western Ontario and has been affiliated with Lawson Health Research Institute, Children’s Health Research Institute, Victoria Research Laboratories, London Health Science Centre and Robart’s Research Institute in the Departments of Biochemistry, Paediatrics, Surgery and Microbiology, Immunology and Virology. Delfina est titulaire d'un diplôme d'études supérieures de l'Université Western Ontario et est affiliée au Lawson Health Research Institute, au Children's Health Research Institute, au Victoria Research Laboratories, au London Health Science Centre et au Robart's Research Institute dans les départements de biochimie, de pédiatrie, de chirurgie et de microbiologie, Immunologie et virologie.

At Sernova, Delfina has overseen the manufacturing and development of the Cell Pouch System along with the clinical trials of Sernova’s Cell Pouch. Throughout her career, she is responsible for multiple patent applications and patents as well as scientific peer-reviewed publications as an author and co-author. Chez Sernova, Delfina a supervisé la fabrication et le développement du Cell Pouch System ainsi que les essais cliniques de Sernova's Cell Pouch. Tout au long de sa carrière, elle est responsable de plusieurs demandes de brevet et brevets ainsi que de publications scientifiques évaluées par des pairs en tant qu'auteur et co-auteur.

Passionate about helping her neighbour and the community, Delfina volunteers with several groups, including being a Chief Scientific Judge in Life Sciences for the Thames Valley District Science Fair, Urban League of London and is a member of the Board for the Northwest London Medway Working Group. Passionnée d'aider son voisin et la communauté, Delfina fait du bénévolat auprès de plusieurs groupes, notamment en tant que juge scientifique en chef des sciences de la vie pour la Thames Valley District Science Fair, Urban League of London et membre du conseil d'administration du Northwest London Medway Working Group. .

Jeffrey Bacha

Director - Board of Directors Directeur - Conseil d'administration

BSc, MBA

James Parsons

Director - Board of Directors Directeur - Conseil d'administration

Deborah Brown

Director - Board of Directors Directeur - Conseil d'administration

Frank Holler

Director and Chairman - Board of Directors Président du conseil d’administration

Frank A. Holler is currently President & CEO of Ponderosa Capital Inc. He previously served as Chairman & CEO of BC Advantage Funds (VCC) Ltd., a venture capital firm investing in emerging technology companies in British Columbia, from 2004 to 2016;

President and CEO of Xenon Pharmaceuticals Inc., a NASDAQ listed, genomics-based drug development company, from 1999 to 2003;

President and CEO of ID Biomedical Corporation, a TSX/Nasdaq vaccine development company, from 1991 to 1998; and a founding director of Angiotech Pharmaceuticals, a TSX/ NASDAQ listed biotechnology company, from 1992 to 1997.

Prior to working in biotechnology and healthcare, Mr. Holler was a Vice-President of Investment Banking with Merrill Lynch Canada and Wood Gundy Inc. (now CIBC World Markets). In addition to serving on the Corporation’s Board, Mr. Holler presently serves on the board of directors of Xenon Pharmaceuticals and the Prevention of Organ Failure Centre at St. Paul’s Hospital (Chairman).

He was previously a Director of the British Columbia Biotechnology Association from 1992 to 1998, and in 2003 received the BC Biotech Award for Vision and Leadership. Mr. Holler holds an MBA and BA (Economics) from the University of British Columbia.

Dr. Mohammad Azab

Director - Board of Directors Directeur - Conseil d'administration

Dr. Daniel Mahony

Director - Board of Directors Directeur - Conseil d'administration

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