Press Release Communiqué de presse - November 17, 2022 17 November, 2022

Sernova Announces First Two Patients Implanted with Cell Pouch™ in the Second Cohort of its US Phase 1/2 Clinical Trial for Type 1 Diabetes

- Company’s recent recruitment strategy change has resulted in an unprecedented level of inquiries regarding potential study participation - Transplantation of islets into the enhanced 10-channel Cell Pouch is anticipated in early 2023 - Company continues to anticipate first interim safety/efficacy data from second cohort in 2023

LONDON, Ontario – November 17, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, announced today that the first two patients in the second cohort of its active U.S. Phase 1/2 type 1 diabetes (T1D) clinical trial have been implanted with its 10- channel Cell Pouch, which provides >50% more capacity relative to the Cell Pouches used for the first cohort. The transition to this new 10-channel Cell Pouch under the revised protocol enables optimized dosing and shorter efficacy evaluation periods to ultimately decrease time to key efficacy endpoints. These endpoints include survival of transplanted islet cells, reduction of severe hypoglycemic episodes, changes in HbA1c, increased C-peptide production, and reduction in insulin requirements.

Sernova has engaged a clinical trial recruitment partner with extensive experience and success in accelerating T1D clinical trial patient enrollment. The second cohort of the study is intended to enroll up to seven patients with insulin dependent T1D who also suffer from severe hypoglycemic episodes and hypoglycemia unawareness. The Company anticipates reporting interim data in 2023. Results from the combined cohorts will inform the design of Sernova’s anticipated Phase 3 T1D pivotal study.

“Our drive to liberate individuals suffering with type 1 diabetes from the burden of daily insulin injections has been strengthened by the safety and efficacy observations in the first cohort of patients in our Phase 1/2 study, and we are pleased to have commenced the treatment phase for the second cohort,” said Dr. Philip Toleikis, President and Chief Executive Officer of Sernova. “We believe the new 10-channel Cell Pouch configuration provides for optimal dosing of islets towards achievement of a potential ‘functional cure’. We look forward to reporting interim data from the second cohort in 2023. Planning and preparations are underway for the pivotal trial program, while we advance our iPSC-derived islet program into the clinic in collaboration with Evotec.”

ABOUT THE US PHASE 1/2 SECOND STUDY COHORT

The US Phase 1/2 study (NCT03513939) is an open-label single-arm trial to assess the safety, tolerability, and efficacy of Sernova’s Cell Pouch System™ for clinical transplantation of human donor islets in patients with T1D. Six patients were transplanted in the first cohort utilizing the 8-channel Cell Pouch System and interim data have been previously reported by Dr. Piotr Witkowski and his colleagues. With the expansion into the second cohort utilizing the 10-channel Cell Pouch System, patient eligibility criteria remain unchanged and includes those aged 18-65 with T1D who suffer from both hypoglycemic unawareness and severe hypoglycemic episodes, and who are eligible for donor islet transplantation. Eligible trial patients have had at least one episode of severe hypoglycemia in the previous 12 months and an absence of stimulated C-peptide (a marker of insulin production by the body) in response to a mixed meal tolerance test.

Islets are transplanted into the Cell Pouch approximately six weeks after Cell Pouch implantation to allow development of fully vascularized native tissue chambers and achieve a stable immunosuppressant regimen. At 90 days post-islet transplant, safety and efficacy are assessed prior to initiating a second transplant of islets. At 90 days following each patient’s second islet transplant to Cell Pouch, safety and efficacy endpoints are evaluated again. Trial patients who remain dependent on insulin for at least 6 months following the second islet transplant to Cell Pouch may be eligible for a third supplemental islet transplant via the portal vein.

Patients who elect to retain their implants will be followed for up to 3 years after the final islet transplant into the Cell Pouch. Multiple transplanted patients from the first cohort have implant durations of more than 3 years and none have elected to have their Cell Pouch implants removed. The primary objective of the Phase 1/2 study is safety and tolerability. Secondary objectives include the following efficacy endpoints: production of C-peptide, insulin use, HbA1c and frequency of hypoglycemic events.

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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

FORWARD-LOOKING INFORMATION

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

Press Release Communiqué de presse - November 04, 2022 4 November, 2022

Sernova to Participate in the Stifel Healthcare Conference

LONDON, Ontario – November 4, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, today announced it will be presenting at the upcoming Stifel Healthcare Conference being held in-person in New York, NY on November 15-16, 2022. Company management will also be participating in one-on-one investor meetings at the conference.

Stifel Healthcare Conference Date: 9:45AM, November 15, 2022 Presenter: Dr. Philip Toleikis, President & CEO, Sernova Corp Location: Lotte New York Palace, New York, NY

Please contact your Stifel representative to schedule one-on-one meetings with the management team during the conference.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM™ PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing regenerative cell therapeutic technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders including hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch™ forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release 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 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to cloak the therapeutic cells from the immune system attack with the goal to eliminate the need for chronic immunosuppressives. 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 a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova is also in development of two additional 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 VIII gene therapy for hemophilia A.

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

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

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

FORWARD-LOOKING INFORMATION

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

Press Release Communiqué de presse - November 03, 2022 3 November, 2022

Sernova Receives Authorization to Enroll Second Patient Cohort of Phase 1/2 Trial with Cell Pouch System™ for Type 1 Diabetes

Sernova plans to begin enrollment of second cohort in the coming weeks and implant multiple patients with the enhanced capacity 10-channel Cell Pouch before the end of 2022

Positive interim results from patients in the first cohort informed the islet dose and density threshold optimizations for the second cohort

Expedited enrollment is anticipated with Sernova’s engagement of an experienced clinical trial patient recruitment agency and the Company expects to report interim data in 2023

Results from the combined cohorts will help guide the design of Sernova’s pivotal study, which would support an anticipated BLA submission to the US FDA and accelerate our iPSC stem cells into the clinic

LONDON, Ontario – November 3, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, is pleased to announce, in conjunction with the advancement of its ongoing Phase 1/2 clinical trial of the Sernova Cell Pouch System™ for patients with type 1 diabetes (T1D) who suffer from hypoglycemia unawareness (the “T1D Study”), the approval of a protocol amendment by the University of Chicago Institutional Review Board (IRB) and no objections from FDA, allowing the Company to proceed with a strategically optimized protocol reducing the time required for patient treatment while accelerating potential secondary endpoint efficacy achievement with more optimal dosing.

Following promising interim results from the first six patients of Sernova’s active T1D Study, the protocol amendment enables the testing of a small second cohort of up to seven patients, to evaluate the Company’s optimized 10-channel Cell Pouch™, which provides 50% more islet capacity compared to the 8-channel Cell Pouch used to date for the T1D Study. Study data from the first six patients formed the basis for the amended optimized treatment plan for the additional new cohort of patients. Results from the combined cohorts will help guide the design of Sernova’s pivotal study, supporting an anticipated BLA submission to the US FDA.

With the protocol amendment, enrollment of the first cohort of patients has concluded and patient enrollment for the new second cohort will begin. The first three patients of the first cohort with completed islet transplants have achieved insulin independence and the remaining three are progressing towards completion of the treatment regimen. Data from these first patients has enabled Sernova to determine dose thresholds and islet concentrations intended to optimize endogenous insulin production in treated patients. Furthermore, safety observations to date support reducing the time between Cell Pouch islet transplants from 180 to 90 days, which substantially reduces the overall treatment period in the amended protocol update. To expedite rapid enrollment of the second cohort, Sernova has engaged a clinical trial patient recruitment partner with extensive experience and success in accelerating T1D clinical trial patient enrollment.

“Sernova is committed to developing a potential ‘functional cure’ with the goal of freeing patients from the life- limiting burdens of T1D and dramatically enhancing their quality of life,” said Dr. Philip Toleikis, President and Chief Executive Officer. “We are pleased with the positive interim results demonstrating that the Cell Pouch System is well tolerated, reduces or eliminates the frequency of severe hypoglycemic events and continues to contribute to durable insulin independence among patients. Based on our now expanded recruitment activities and efforts, we anticipate implanting multiple patients before the end of 2022. The results from these additional patients will directly contribute to our pivotal T1D trial design and help accelerate entry into the clinic with our iPSC stem cell derived islet technology in conjunction with our Evotec partnership that is progressing ahead of our expectations.”

ABOUT PHASE 1/2 STUDY SECOND COHORT

The Phase 1/2 study (NCT03513939) is an open-label single-arm trial to assess the safety, tolerability, and efficacy of Sernova’s Cell Pouch System for clinical transplantation of human donor islets in patients with T1D. Six patients were transplanted in the first cohort utilizing the 8-channel Cell Pouch System and interim data have been previously reported by Dr. Piotr Witkowski and his colleagues. With the expansion into the second cohort utilizing the 10-channel Cell Pouch System, patient eligibility criteria remain unchanged and includes those aged 18-65 with T1D who suffer from both hypoglycemic unawareness and severe hypoglycemic episodes, and who are eligible for donor islet transplantation. Eligible trial patients have had at least one episode of severe hypoglycemia in the previous 12 months and an absence of stimulated C-peptide (a marker of insulin production by the body) in response to a mixed meal tolerance test.

Islets are transplanted into the Cell Pouch approximately six weeks after Cell Pouch implantation to allow development of fully vascularized native tissue chambers and achieve a stable immunosuppressant regimen. At 90 days post-islet transplant, safety and efficacy are assessed prior to initiating a second transplant of islets. At 90 days following each patient’s second islet transplant to Cell Pouch, safety and efficacy endpoints are evaluated again. Trial patients who remain dependent on insulin for at least 6 months following the second islet transplant to Cell Pouch may be eligible for a third supplemental islet transplant via the portal vein.

Patients who elect to retain their implants will be followed for up to 3 years after the final islet transplant to Cell Pouch. Multiple transplanted patients from the first cohort have implant durations of more than 3 years and none have elected to have their Cell Pouch implants removed.

The primary objective of the Phase 1/2 study is safety and tolerability. Secondary objectives include the following efficacy endpoints: production of C-peptide, insulin use, HbA1c, and frequency of hypoglycemic events.

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

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

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

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

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

FORWARD-LOOKING INFORMATION

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

Press Release Communiqué de presse - October 24, 2022 24 October, 2022

Sernova Corp. Announces Change of Auditor

London, Ontario October 24, 2022. Sernova Corp. (“Sernova” or the “Corporation”) (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH) announces that it has changed its auditor to KPMG LLP, Chartered Professional Accountants (the “Successor Auditor”) effective October 14, 2022.

Sernova’s board of directors appointed the Successor Auditor to hold office as the new auditor of the Corporation until the close of the Corporation’s next annual general meeting of shareholders. The Corporation’s former auditor, Davidson & Company, Chartered Professional Accountants (the “Former Auditor”), resigned effective October 14, 2022, at the request of Sernova.

There were no reservations in the Former Auditor's audit reports for any financial period during which the Former Auditor was the Corporation's auditor. Also, there are no "reportable events" (as the term is defined in National Instrument 51-102 - Continuous Disclosure Obligations) between the Corporation and the Former Auditor.

In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the Corporation's audit committee and board of directors and will be filed on SEDAR accordingly.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing cell therapeutic technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders including hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch™ forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release 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 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to cloak the therapeutic cells from the immune system attack with the goal to eliminate the need for chronic immunosuppressives. 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 a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova is also in development of two additional 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 VIII gene therapy for hemophilia A.

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

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

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

FORWARD LOOKING STATEMENTS: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are 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 the Company 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 the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Press Release Communiqué de presse - September 28, 2022 28 September, 2022

Sernova to Participate in the Roth Inaugural Healthcare Opportunities Conference

LONDON, Ontario – September 28, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in regenerative cell therapeutics, today announced it will be presenting at the upcoming Roth Inaugural Healthcare Opportunities Conference being held in-person in New York, NY on October 6, 2022. Company management will also be participating in one-on-one investor meetings at the conference.

Roth Inaugural Healthcare Opportunities Conference Date: Thursday, October 6, 2022 Presenter: Dr. Philip Toleikis, President & CEO, Sernova Corp Location: The Yale Club, New York, NY

Please contact your Roth representative to schedule one-on-one meetings with the management team during the conference.

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

Sernova Corp. is a clinical-stage biotechnology company that is developing regenerative cell therapeutic technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders including hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch™ forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release 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 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to cloak the therapeutic cells from the immune system attack with the goal to eliminate the need for chronic immunosuppressives. 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 a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova is also in development of two additional 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 VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

Investors:

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

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

FORWARD-LOOKING INFORMATION

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

Press Release Communiqué de presse - September 22, 2022 22 September, 2022

Sernova Announces Full Exercise of Share Purchase Warrants Expiring September 22, 2022

Additional $3.5M of capital raised from exercise of expiring warrants

LONDON, Ontario – September 22, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE / XETRA:PSH), a clinical-stage company and leader in regenerative cell therapeutics, today announced that all remaining share purchase warrants related to the 2020 private placement, expiring on September 22, 2022, have been exercised with additional proceeds of $3.5M received since the Company’s last update on September 1, 2022.

Capital raised through the exercise of these warrants will be directed to continued development of the Cell Pouch SystemTM and its application to ‘functional cures’ for diabetes, hypothyroidism and hemophilia A, as well as for general working capital purposes.

“We believe the full exercise of all share purchase warrants with multiple expiry dates over the last two months is a strong indication of shareholders’ belief and confidence in Sernova’s fundamentals and the future potential of our Cell Pouch System,” commented Dr. Philip Toleikis, President and CEO of Sernova Corp. “Sernova is now in the strongest cash position it has ever been in.”

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM™ PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing regenerative cell therapeutic technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders including hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, The Cell Pouch™ forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release 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 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to cloak the therapeutic cells from the immune system attack with the goal to eliminate the need for chronic immunosuppressives. 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 a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova is also in development of two additional 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 VIII gene therapy for hemophilia A.

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

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

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

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

Press Release Communiqué de presse - September 08, 2022 8 September, 2022

Sernova to Present at H.C. Wainwright Annual Global Investment Conference and LifeSci Partners HealthTech Symposium

LONDON, Ontario – September 8, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in regenerative medicine cell therapeutics, today announced it will be presenting at the upcoming H.C. Wainwright 24th Annual Global Investment Conference being held in New York, NY from September 12-14, 2022, as well as the LifeSci Partners HealthTech Symposium being held September 20-21, 2022. Company management will also be engaging in 1x1 meetings at the H.C. Wainwright conference.

H.C. Wainwright 24th Annual Global Investment Conference – September 12-14, 2022 Date: Tuesday, September 13, 2022 Time: 9:00 – 9:30 AM ET Location: Lotte New York Palace Presenter: Dr. Philip Toleikis, President & CEO, Sernova Corp Webcast: https://journey.ct.events/view/0510fdaf-5167-4406-a0fe-d487089da046

Conference Website https://hcwevents.com/annualconference/

*a replay of the presentation will be available for 90 days

LifeSci Partners HealthTech Symposium – September 20-21, 2022 Date: Wednesday, September 21, 2022 Time: 8:00 – 8:25 AM ET Presenter: Dr. Philip Toleikis, President & CEO, Sernova Corp Format: Virtual Webcast: https://wsw.com/webcast/lifesci6/register.aspx? conf=lifesci6&page=sva&url=https://wsw.com/webcast/lifesci6/sva/1973682

Conference Website https://www.meetmax.com/sched/event_87317/conference_home.html

*a replay of the presentation will be available for 90 days Details of the events can also be found on the events page of the Sernova website at https://www.sernova.com/investor/?disclaimer=1#Events. If interested in arranging a 1x1 meeting request at the H.C. Wainwright conference, please contact the conference organizers.

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 diabetes, thyroid disease, and blood disorders including hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for diabetes with its regenerative cell therapy platform technologies, including its proprietary Cell Pouch™. On implantation, the Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release 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 1/2 clinical study at the University of Chicago. Sernova is also advancing its proprietary conformal coating technology in collaboration with the University of Miami to cloak the therapeutic cells from the immune system attack with the goal to eliminate the need for chronic immunosuppressives. In May 2022, Sernova and Evotec entered into a global strategic collaboration to develop an implantable off-the-shelf iPSC- based (induced pluripotent stem cells) beta cell replacement therapy. This collaboration potentially 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 additional 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 VIII gene therapy for hemophilia A.

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

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

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

FORWARD-LOOKING INFORMATION

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

Press Release Communiqué de presse - September 07, 2022 7 September, 2022

Sernova Announces the Appointment of Daniel Mahony, Ph.D. to its Board of Directors

- Successful biopharma entrepreneur with 25 years of experience growing leading healthcare firms -

LONDON, Ontario – September 7, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in regenerative medicine cell therapeutics, today announced the appointment of Daniel Mahony, Ph.D. to its Board of Directors, effective September 30th, 2022. Dr. Mahony is Entrepreneur-in-Residence at Evotec and is also responsible for managing Evotec’s equity investment portfolio.

Dr. Mahony brings over 25 years of global healthcare investment, management and research experience covering biotechnology, medical technology, and healthcare service sectors. Prior to joining Evotec, he served as the Co-head of Healthcare at Polar Capital where he launched the firm’s healthcare investment business in 2007 and grew it to over $4 billion of assets under management. Prior to Polar Capital, he was head of European healthcare research at Morgan Stanley, an analyst at ING Barings Furman Selz in New York, and a postdoctoral research scientist at DNAX Research Institute in California.

“We are delighted to welcome Dr. Mahony to Sernova’s Board of Directors,” said Frank Holler, Executive Chair of Sernova. “Dan has a unique background, starting as a research scientist, then moving into healthcare research and capital markets and finally into the pharmaceutical industry. This background gives him deep insights into the healthcare business and capital markets which will be very valuable for Sernova.”

Dr. Mahony stated, “Sernova is uniquely well positioned with its Cell Pouch System to become a leading player in regenerative medicine. I am thrilled to be joining its Board of Directors and look forward to working with the other directors and the management team to advance potential ‘functional cures’ for some of the most challenging chronic diseases.”

Dr. Mahony holds multiple industry leadership positions. He currently chairs the board of the BioIndustry Association (BIA), the industry trade association for UK life sciences, and holds non-executive directorships at the Wellcome Sanger Institute, Trellus Health, Celmatix, Keepabl, and Apian. Dr. Mahony also acts as a mentor for the NHS Clinical Entrepreneur Training Programme, which supports junior doctors and healthcare professionals in developing entrepreneurial aspirations during their clinical training. Dr. Mahony was awarded a first-class, honours degree in biochemistry from Oxford University and received his doctorate degree from Cambridge University. Dr. Mahony will replace Dr. Dohrmann as Evotec’s representative on the Sernova board.

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 diabetes, thyroid disease, and blood disorders including hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for diabetes with its regenerative cell therapy platform technologies, including its proprietary Cell Pouch™. On implantation, the Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release 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 1/2 clinical study at the University of Chicago. Sernova is also advancing its proprietary conformal coating technology in collaboration with the University of Miami to cloak the therapeutic cells from the immune system attack with the goal to eliminate the need for chronic immunosuppressives. In May 2022, Sernova and Evotec entered into a global strategic collaboration to develop an implantable off-the-shelf iPSC- based (induced pluripotent stem cells) beta cell replacement therapy. This collaboration potentially 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 additional 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 VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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

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