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

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

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

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

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

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

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

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

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

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

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

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

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

• Absence of life threatening severe hypoglycemic events;

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

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

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

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

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

ABOUT SERNOVA’S CLINICAL TRIAL

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

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

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

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

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

ABOUT SERNOVA CORP.

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

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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

Press Release Communiqué de presse - December 18, 2020 18 December, 2020

Sernova to Present at H.C. Wainwright BioConnect 2021 Conference

December 18, 2020 - 9:00 a.m. EST

LONDON, ONTARIO – December 18, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a leading clinical-stage regenerative medicine therapeutics company, today announces that Dr. Philip Toleikis, President and CEO of Sernova will present at the H.C. Wainwright BioConnect 2021 Conference taking place virtually January 11-14.

Dr. Toleikis is scheduled to host a virtual presentation that will be available on demand during the conference, starting at 6:00 AM EST on Monday January 11, 2021. Sernova’s management team will also participate in one-on-one meetings at the conference.

H.C. Wainwright BioConnect 2021 Conference

Date: Monday, January 11, 2021 to Thursday, January 14, 2021

Time: On demand

Link: https://journey.ct.events/view/3a577711-041b-48a3-8b1c-0d47129bb30c

For more information on the H.C. Wainwright BioConnect 2021 Conference or to schedule one-on-one meetings with management, please contact your H.C. Wainwright representative.

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

Press Release Communiqué de presse - November 30, 2020 30 November, 2020

Sernova Announces Clinical Trial Investigator Presentation at the ASTS 21st Winter Symposium

November 30, 2020 - 9:00 a.m. EST

LONDON, ONTARIO – November 30, 2020 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that Dr. Piotr Witkowski, principal investigator in Sernova's ongoing Phase I/II clinical trial, A Safety, Tolerability and Efficacy Study of Sernova's Cell Pouch™ for Clinical Islet Transplantation will present data and observations from the trial in an oral presentation delivered at the American Society of Transplant Surgeons 21st Annual State of the Art Winter Symposium.

Dr. Witkowski, Director, Pancreatic and Islet Transplant Program at the University of Chicago, is scheduled to deliver his presentation, Islet Allotransplantation Into Pre-Vascularized Sernova Cell Pouch™ – Preliminary Results From The University of Chicago, to more than 600 transplant professionals as part of the Oral Abstract Session II on January 15, 2021 at 2:05 PM. Further details on the program and registration can be found on ASTS Winter Symposium website (https://asts.org/events-meetings/winter-symposium)

ABOUT ASTS AND THE 21st ANNUAL STATE OF THE ART WINTER SYMPOSIUM

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

ASTS 21st Annual State of the Art Winter Symposium will be held virtually January 14 – 16, 2021.

Beginning on January 14, the sessions will be available virtually to disseminate the latest science in transplantation surgery.

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 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

Press Release Communiqué de presse - November 18, 2020 18 November, 2020

Sernova Provides Clinical Update on U.S. Phase I/II Cell Pouch Trial for Type 1 Diabetes

• 5 of 7 study patients implanted with Cell Pouch and cell transplants ongoing; full enrollment on track for early 2021

• Treated patients continue to demonstrate enduring safety indicators and blood levels of insulin (C-peptide) produced by cells in the Cell Pouch

November 18, 2020 9:00 a.m. EST

LONDON, ONTARIO – November 18, 2020 – Sernova Corp (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a leading clinical-stage regenerative medicine therapeutics company developing a ‘functional cure’ for insulin-dependent diabetes, hemophilia A, and other diseases, provides an update on its U.S. Phase I/II (safety/efficacy) clinical trial of its Cell Pouch System for type 1 diabetes (T1D) at the University of Chicago.

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

As of this date, 5 of the 7 patients have now been enrolled, implanted with Cell Pouches and are actively advancing through the transplantation phase of the study. Pre-screening is ongoing for the final two patients and full enrollment of the study is anticipated to be completed in the first quarter of 2021.

The primary endpoint of the study is to demonstrate safety and tolerability of islet transplantation into the Cell Pouch. Overall, the following trends have been observed:

SAFETY (Primary Endpoint):

• Following implantation, consistent incorporation of the Cell Pouch with vascularized tissue providing a suitable environment for transplant of islets (insulin-producing cells)

• No incidence of Severe Adverse Events (SAEs) related to the Cell Pouch or islet transplant

“I am pleased that these ongoing safety findings in the treated patients continue to meet the primary endpoint for our study,” said Dr. Piotr Witkowski, study principal investigator and Director of the Pancreatic and Islet Transplant Program at the University of Chicago.

Highlighting some of the trial efficacy findings with focus on clinical benefits to the T1D patients, the following trends have also been observed.

EFFICACY (Secondary Endpoint):

• Ongoing detection of bloodstream levels of C-peptide in treated patients (proof that cells in the Cell Pouch are producing insulin, important for controlling blood sugar levels)

• Reduction in injectable insulin use

• Reduction in levels of HbA1c as a measure of long-term glucose control (the lower the HbA1c, the lesser the risk of developing diabetes-related complications)

• Reduction in severe hypoglycemic episodes (blood sugar levels that are too low may lead to life- threatening events)

“I am encouraged by the fact that, in contrast to previous clinical studies in this field, we are observing persistent evidence of insulin production (C-peptide) by islets transplanted into the Cell Pouch in our patients,” said Dr. Piotr Witkowski. “I look forward to ongoing results in the study and observing improvements in patient quality of life along with efficacy measures as we advance this regenerative medicine treatment.”

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 - October 30, 2020 30 October, 2020

Sernova Announces 3-Month Extension of Warrants

October 30, 2020 9:00 a.m. EDT

LONDON, ONTARIO – October 30, 2020 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical- stage regenerative medicine company, announces that, subject to acceptance by the TSX Venture Exchange, it intends to extend the expiry date of 11,016,000 outstanding share purchase warrants (the "Warrants") issued pursuant to a private placement that closed in two tranches. The Warrants currently expire on November 14, 2020, and November 21, 2020. Each Warrant is exercisable into an equal number of common shares of the Company at a price of $0.35. If accepted by the TSX, the new expiry date for the Warrants will be 4:00 p.m. (Pacific Time) on February 12, 2021, and February 19, 2021. All other terms and conditions of the Warrants, including the exercise price, remain the same.

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, hormones, or other factors as required to treat disease. Sernova is currently conducting a Phase I/II study at the University of Chicago and has demonstrated encouraging early safety and efficacy indicators. The Cell Pouch, in combination with therapeutic cells/tissues, has been shown to provide long-term safety and efficacy in preclinical models of diabetes, hemophilia A and other indications supporting our therapeutics platform.

For further information 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 - October 27, 2020 27 October, 2020

Sernova to Present at TSX Life Sciences Investor Day

Sernova Retains Integral Wealth Securities for Market Making Services

October 27, 2020 9:00 a.m. EDT

LONDON, ONTARIO – October 27, 2020 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical- stage regenerative medicine company, announced today that Dr. Philip Toleikis, President and CEO, will provide an investor presentation at the upcoming TSX Life Sciences Investor Day being held on October 29, 2020, from 11:00 AM – 12:30 PM EST hosted by the Toronto Stock Exchange and the TSX Venture Exchange.

For more details on the event or to register to hear presentations from some of the most interesting public and private Life Sciences companies from Canada, please click HERE (https://produceredition.webcasts.com/starthere.jsp?ei=1384782&tp_key=2e4549bdfb).

Sernova also announces having retained the services of Integral Wealth Securities Limited to provide market- making services for the Company in compliance with the applicable policies of the TSX Venture Exchange. Integral will trade the securities of Sernova on the TSX Venture Exchange for the purpose of maintaining an orderly market and to provide liquidity of the Company's common shares.

Under the conditions of the agreement, Integral will be paid $7,000 per month for their services for a minimum term of 12 months. During the initial 12-month period, Sernova will have a one-time right to terminate after three months, provided written notice of termination is received at least 7 days prior to the 90th day of the term. After the 12th month of the term, this agreement may be terminated by the Company upon 30 days written notice.

There are no performance factors contained in the agreement, and Integral will not receive shares or options as compensation. Sernova and Integral are unrelated entities, and Integral has no present direct or indirect interest in the Company or its securities.

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, hormones, or other factors as required to treat disease. Sernova is currently conducting a Phase I/II study at the University of Chicago and has demonstrated encouraging early safety and efficacy indicators. The Cell Pouch, in combination with therapeutic cells/tissues, has been shown to provide long-term safety and efficacy in preclinical models of diabetes, hemophilia A and other indications supporting our therapeutics platform.

For further information 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 - September 24, 2020 24 September, 2020

Sernova to Present at Virtual BIO Investor Forum

Sernova to deliver corporate update with focus on value-driving events: technology acquisition, licensing and research collaboration

September 24, 2020 9:00 a.m. EDT

LONDON, ONTARIO – September 24, 2020 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical-stage regenerative medicine company announced today that Dr. Philip Toleikis, President and CEO will provide a corporate update as part of the Company Presentations at the upcoming BIO Investor Forum Digital international biotech investor conference from October 13-15, 2000. Dr. Toleikis will also be engaged with the BIO One-on-One Partnering meetings.

“Amidst the COVID-19 pandemic, we are leveraging the proliferation of the virtual conference format. This virtual conference will enable us to increase the awareness level amongst an expanded base of potential investors and partnering prospects about Sernova’s significant advancements, including first time diabetes clinical trial findings, a technology acquisition for our cell therapy therapeutics platform and local immune protection technology licensing and research collaboration arrangements. The BIO One-on-One Partnering meeting sessions will also enable us to continue discussions and further evaluate opportunities,” said Dr. Philip Toleikis, President and CEO of Sernova.

Sernova’s presentation will be available on-demand to attendees of the BIO Investor Forum Digital conference. For more details on Sernova’s presentation, please visit https://www.bio.org/events/bio-investor-forum- digital/company-presentations.

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, hormones, or other factors as required to treat disease. Sernova is currently conducting a Phase I/II study at the University of Chicago and has demonstrated encouraging early safety and efficacy indicators. The Cell Pouch, in combination with therapeutic cells/tissues, has been shown to provide long-term safety and efficacy in preclinical models of diabetes, hemophilia A and other indications supporting our therapeutics platform.

For further information 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 - September 22, 2020 22 September, 2020

Sernova Closes Oversubscribed Private Placement and Accelerates Development Programs

September 23, 2020 9:00 a.m. EDT

LONDON, ONTARIO – September 23, 2020 – Sernova Corp. ("Sernova" or the "Company") (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH) is pleased to announce that it has closed its non-brokered private placement announced on September 9, 2020. The Company received over-subscriptions of $0.7 million, increasing the total amount of the private placement to $3.7 million.

"We are very pleased with the resoundingly positive response and rapid closing to our oversubscribed offering, which included participation by all directors of the Company. The offering will enable us to build further upon our recent momentum, strategically enhancing and solidifying our novel cell therapy platform with the goal to provide a "functional" cure for diabetes and other rare diseases," said Dr. Philip Toleikis, President and CEO of Sernova Corp.

A total of 12,218,333 units were issued in the private placement at $0.30 per unit, with each unit consisting of one common share and one warrant. Each warrant entitles the holder to acquire one common share at a price of $0.35 per share for a period of 24 months, subject to abridgment of the exercise period if the 10-day volume-weighted average price of the Company's shares exceeds $0.50 per share.

The net proceeds of the private placement will be used to accelerate development of the Company's recently acquired cellular local immune protection technology, further its immune-protected diabetes stem cell-derived program and support the Company's US Phase I/II diabetes clinical trial.

The closing is subject to the acceptance of the TSX Venture Exchange. The Company also issued 198,310 warrants and paid a total of $59,493 to qualified finders. All securities issued in connection with the private placement will be subject to a hold period of four months, in accordance with applicable Canadian securities regulations.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act of 1933 and all applicable state securities laws, or an applicable exemption from registration requirements.

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, hormones, or other factors as required to treat disease. Sernova is currently conducting a Phase I/II study at the University of Chicago and has demonstrated encouraging early safety and efficacy indicators. The Cell Pouch, in combination with therapeutic cells/tissues, has been shown to provide long-term safety and efficacy in preclinical models of diabetes, hemophilia A and other indications supporting our therapeutics platform.

For further information contact:

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

Forward-Looking Information

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

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