News Nouvelles

Sernova is a regenerative medicine company developing therapeutic technologies with multibillion-dollar market potential for each of its clinical indications. Sernova est une société de médecine régénérative développant des technologies thérapeutiques offrant un potentiel de marché de plusieurs milliards de dollars pour chacune de ses indications cliniques.

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Press Releases Communiqués de Nouvelles

Latest News Releases Derniers communiqués de presse

May 3, 2023 3 May, 2023

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

April 28, 2023 28 April, 2023

SERNOVA CORP. ANNOUNCES VOTING RESULTS OF THE 2023 ANNUAL GENERAL MEETING OF SHAREHOLDERS

April 24, 2023 24 April, 2023

Successful Results Using Sernova's Cell Pouch System™ with Evotec's iPSC-Derived Islet-like Clusters for Type 1 Diabetes Presented at the 4th IPITA / HSCI / JDRF Summit

April 21, 2023 21 April, 2023

Sernova Reminds Shareholders to Vote FOR the Eight Management Director Nominees Using ONLY the WHITE Management Proxy

April 18, 2023 18 April, 2023

Two Independent Proxy Advisory Firms, Including Glass Lewis & Co. LLC. Recommend Sernova's Shareholders Vote FOR all Management Nominees on Management's White Proxy

April 14, 2023 14 April, 2023

Institutional Shareholder Services Inc. Recommends Sernova's Shareholders Vote FOR all Management Nominees on Management's White Proxy

April 10, 2023 10 April, 2023

Sernova to Present at 2023 Alliance for Regenerative Medicine Cell & Gene Meeting on the Med

April 6, 2023 6 April, 2023

Sernova Responds to Dissident Shareholders' Misleading Statements and Provides Corporate Updates

 
May 5, 2023 5 May, 2023

Marisa Wexler of Hemophilia News Today - AstraZeneca, Sernova join forces on cell therapy research

May 4, 2023 4 May, 2023

Medical Device Network - Sernova and AstraZeneca team to study novel therapeutic cell applications

May 3, 2023 3 May, 2023

Manshi Mamtora of Seeking Alpha - Sernova joins hands with AstraZeneca for potential therapeutic cell applications

May 3, 2023 3 May, 2023

Shane Whooley of Drug Delivery Business - Sernova, AstraZeneca collaborate to deliver therapeutic cells with Sernova Cell Pouch

May 3, 2023 3 May, 2023

Noah Stansfield of CGTLive features Sernova in Around the Helix: Cell and Gene Therapy Company Updates – May 3, 2023

March 17, 2023 17 March, 2023

Dr. Philip Toleikis recently spoke with proto.life (formerly NEO.LIFE) on the advancements of our Cell Pouch System™ to develop a potential ‘functional cure’ to improve the quality of life for patients with T1D

February 8, 2023 8 February, 2023

Dr. Philip Toleikis sat down with PharmaShots to discuss our global strategic partnership with Evotec and how it will contribute to the advancement of our Cell Pouch System as a "functional cure" for insulin-dependent diabetes

January 31, 2023 31 January, 2023

Scrip Asks…What Does 2023 Hold For Biopharma? Part 5: Technological Advances

January 9, 2023 9 January, 2023

Sernova Featured at PBA's Year in Review Event

December 20, 2022 20 December, 2022

Jim Cornell of Labiotech.eu - Sernova's Cell Pouch System Tackles Diabetes

November 23, 2022 23 November, 2022

The London Free Press - "London Company Working on Diabetes Cure Ramps Up Hiring as Trials Show Promise"

November 22, 2022 22 November, 2022

Shane Whooley of Mass Device - "How Sernova seeks to treat insulin-dependent diabetes with its Cell Pouch System"

November 16, 2022 16 November, 2022

Sernova's Fireside Chat from the 2022 Stifel Healthcare Conference

November 7, 2022 7 November, 2022

Shane Whooley of Mass Device - "Sernova to enroll second cohort in trial of Cell Pouch System for type 1 diabetes"

October 12, 2022 12 October, 2022

Collaborator, Dr. Alice Tomei from the University of Miami, discussed the advancements in conformal coating to overcome challenges associated with transplanting insulin-producing cells in the body.

October 6, 2022 6 October, 2022

Dr. Philip Toleikis' Fireside Chat with LifeSci Partners at the Virtual HealthTech Symposium

August 18, 2022 18 August, 2022

Dr. Philip Toleikis sat with Erin Harris, Cell & Gene Podcast to discuss the development of the Cell Pouch as a "functional cure" for chronic diseases such as T1D

July 28, 2022 28 July, 2022

Dr. Philip Toleikis sat with Ayesha Rashid on the Xtalks Life Science Podcast to explain how our Cell Pouch System works and the clinical advances we are making to develop a "functional cure" for patients with diabetes

June 27, 2022 27 June, 2022

Dr. Philip Toleikis, shared his thoughts on the next treatment innovations being a "functional cure" for chronic diseases in a recent pharma's almanac roundtable

June 24, 2022 24 June, 2022

Miriam E. Tucker from Medscape highlights the recent presentation of our interim data at the 2022 ADA as well as how our innovative Cell Pouch differs from other developments in the diabetes space

June 21, 2022 21 June, 2022

Sernova featured in Evaluate Vantage: "Sernova gets under the skin"

June 16, 2022 16 June, 2022

Dr. Philip Toleikis joined Stacey Simms on Diabetes Cxns to discuss our Cell Pouch System, a potential "functional cure" for insulin-dependent diabetes.

June 14, 2022 14 June, 2022

Dr. Philip Toleikis was recently interviewed by Joachim Brunner of SmallCap Investor TV

June 9, 2022 9 June, 2022

Dr. Philip Toleikis spoke with Alex Keown from BioSpace about the updated positive interim data from the Phase 1/2 diabetes clinical trial of our Cell Pouch System, presented at the 2022 ADA by our collaborators at the University of Chicago

June 2, 2022 2 June, 2022

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Sernova Opens the Market Thursday, June 2, 2022

February 25, 2022 25 February, 2022

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Sernova Made the 2022 TSX Venture 50 List!

November 18, 2021 18 November, 2021

Canaccord Genuity Virtual MedTech, Diagnostics and Digital Health & Services Forum

September 30, 2021 30 September, 2021

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Dr. Tomei Conformal Coating Immunoprotection Webinar with Sernova

April 28, 2021 28 April, 2021

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Sernova KOL Event on Thyroid Disease with Dr. Sam Wiseman

June 29, 2020 29 June, 2020

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Watch our latest commercial!

June 18, 2020 18 June, 2020

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ADA Scientific Sesssions

December 4, 2019 4 December, 2019

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Whiteboard: Sernova's Cell Pouch for Type 1 Diabetes (T1D)

April 23, 2019 23 April, 2019

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CTV London: Hope for diabetes cure

December 28, 2018 28 December, 2018

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New device from Ont. firm could revolutionize diabetes care

June 7, 2018 7 June, 2018

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Watch Dr Philip Toleikis, Ph.D. on CTV News

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

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


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

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

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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

FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - April 28, 2023 28 April, 2023

SERNOVA CORP. ANNOUNCES VOTING RESULTS OF THE 2023 ANNUAL GENERAL MEETING OF SHAREHOLDERS


LONDON, Ontario - April 28, 2023 - Sernova Corp. (“Sernova” or the “Corporation”) (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage regenerative medicine company and leader in cell therapeutics focused on developing a potential ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases, is pleased to announce results from its Annual General Meeting of Shareholders (the “AGM”), held virtually via live audio webcast on April 27, 2023.

The following resolutions were proposed and approved at the AGM: - Dr. Philip M. Toleikis, James T. Parsons, Deborah M. Brown, Dr. Mohammad Azab, Dr. Daniel Mahony, Brett Whalen, Dr. Steven Sangha and Bertram von Plettenberg were elected as directors of the Corporation for the ensuing year. - Appointment of KPMG LLP, as auditors of the Company until the next annual meeting and the authorization of the directors of the Company to fix the remuneration to be paid to the auditors.

The resolution to ratify and confirm amendments to the Option Plan and DSU Plan and to increase the maximum number of Common Shares reserved for issuance was not tabled at the AGM and as such the current incentive plan without the amendments continues in effect.

“As they transition out of their director roles, I would like to acknowledge Frank Holler and Jeffrey Bacha’s many years of contributions to Sernova’s Board of Directors,” said Dr. Philip Toleikis, President & CEO of Sernova Corp. “With today’s results, I would also like to welcome our two new directors, Dr. Steven Sangha and Bertram von Plettenberg to the company. We look forward to working with them as we strive to advance the Cell Pouch™ and work to create other therapeutic options for patients with chronic diseases.

“We are honored to be given the opportunity to represent the voice of all shareholders. As directors on the Board of Sernova, we will work hard to ensure the best interests of the company, shareholders and all other stakeholders are addressed in a timely manner,” said Dr. Steven Sangha and Bertram von Plettenberg.

ABOUT SERNOVA CORP.

Sernova Corp. is a clinical-stage biotechnology company that is developing regenerative medicine therapeutic technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders 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. The Cell Pouch on implantation 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 I/II 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 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 8 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.

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Press Release Communiqué de presse - April 24, 2023 24 April, 2023

Successful Results Using Sernova's Cell Pouch System™ with Evotec's iPSC-Derived Islet-like Clusters for Type 1 Diabetes Presented at the 4th IPITA / HSCI / JDRF Summit


- Evotec’s scalable GMP manufacturing process has been designed to produce induced pluripotent stem cell (iPSC)-derived islet-like clusters (ILCs) with high insulin-producing beta cell content as well as glucagon and somatostatin (produced by alpha cells and delta cells, respectively), similar to human islets - The ILCs are cryopreserved during manufacturing, enabling storage of mass volumes and cost efficient on- demand worldwide delivery as required - Results from a type 1 diabetes (T1D) preclinical model with Evotec’s ILCs implanted into Sernova’s Cell Pouch™ demonstrated robust and durable insulin independence with blood C-peptide levels and glucose tolerance test results equivalent to a test group with human islets - An additional T1D study with Evotec’s ILCs demonstrated sustained normalization of blood sugar levels in diabetic mice throughout the 320 day term of the study - IND filing and Phase 1/2 clinical program with Sernova’s Cell Pouch and Evotec’s iPSC ILCs on track for 2024

LONDON, Ontario – April 24, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical- stage company and leader in cell therapeutics, today announced the presentation of preclinical data supporting the anticipated 2024 IND submission and planned Phase 1/2 clinical trial of Evotec SE’s (FSE: EVT; NASDAQ: EVO) iPSC-derived ILCs in combination with Sernova’s implantable Cell Pouch device for the treatment of patients with T1D. The objective of the partnership is to produce an off-the-shelf, commercially scalable cell therapy treatment, with human testing anticipated to begin in 2024.

The data were presented by Matthias Austen, PhD, SVP Cell Therapy at Evotec SE (Evotec), as an oral podium presentation at the 4th International Pancreas and Islet Transplant Association (IPITA) / Harvard Stem Cell Institute (HSCI) / Juvenile Diabetes Research Fund (JDRF) Summit, held from April 24-25, 2023 in Cambridge, Massachusetts. The presentation included an introduction to Evotec’s proprietary GMP process for manufacturing iPSC-derived ILCs for use in Sernova’s Cell Pouch, as well as encouraging results from multiple studies using a standard mouse model of T1D.

Key findings: - Evotec has developed a scalable GMP manufacturing workflow, starting from GMP-grade iPSCs to the final product of ILCs, yielding a high beta cell fraction with no post-implantation variability of cell composition. - Evotec ILCs are cryopreserved at a late-intermediate stage of differentiation allowing for a cost-effective large-scale manufacturing process to optimize both pre- and post-implantation durability, offering a major advantage over competing cell therapies in development. - ILCs implanted to mouse kidney capsule demonstrated complete and durable normalization of glucose levels in a standard diabetic mouse model out to the pre-planned termination date at 320 days. - ILCs implanted into Sernova’s Cell Pouch demonstrated rapid normalization of glycemic control in the streptozotocin (STZ)-induced diabetic NSG (NOD.SCID.IL-2Rgammanull) mouse model. - Circulating C-peptide levels (a biomarker for insulin production) in mice implanted with the Cell Pouch and ILCs were equivalent after 6 weeks to those in mice that received 4000 IEQ human islets under the kidney capsule. - Efficient glucose clearance and no hypoglycemia was demonstrated in an oral glucose tolerance test administered at 8 weeks post-implantation. Animals implanted with Cell Pouch and ILCs showed an identical glucose clearance time course compared to animals transplanted with 4000 IEQ human islets. - Upon explantation of the Cell Pouch with ILCs after the 32-week survival period, histological graft analyses showed the presence of all relevant islet cell types including insulin-producing beta cells, glucagon-producing alpha cells, and somatostatin-producing delta cells, indicating a favorable cell composition of the implanted ILCs. - Histological graft analyses also revealed extensive intra-graft vascularization, likely contributing to the excellent endocrine cell survival with a high beta cell fraction, and consistent with the observed functional outcomes.

“Our ongoing productive partnership with Evotec continues to progress towards human clinical trials in 2024 with an impressive cell therapy paired with our Cell Pouch to create a potential ‘functional cure’ for T1D,” said Dr. Philip Toleikis, President and Chief Executive Officer of Sernova. “These results demonstrate that Evotec’s ILCs in the Cell Pouch can become fully functional endocrine islets following implantation, with potency equivalent to human islets. Our goal is to advance beyond decades-old insulin injections to provide a potential one-time treatment to restore normal pancreatic glycemic control for individuals with T1D. We look forward to providing an update at the American Diabetes Association conference in June on our ongoing Phase 1/2 study in T1D patients with our Cell Pouch containing human donor islet cells and to progressing our next generation product utilizing Evotec cells into the clinic in 2024.”

Dr. Cord Dohrmann, Chief Scientific Officer of Evotec commented, “We are thrilled to show these results with Evotec’s ILCs that we have spent years perfecting with a scalable cost-effective GMP workflow to create a cryopreserved product with excellent survival under standard shipping conditions and optimized for implantation into Sernova’s Cell Pouch. These new data demonstrating rapid, complete, and durable normalization of glucose control that is equi-potent comparable in potency to human islets is one of the final steps prior to our anticipated human testing in 2024.”

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 has secured an exclusive option for an exclusive global license for Evotec’s ethically derived iPSC insulin producing islet clusters for use with Sernova’s Cell Pouch System or alone with other technologies. 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.

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Press Release Communiqué de presse - April 21, 2023 21 April, 2023

Sernova Reminds Shareholders to Vote FOR the Eight Management Director Nominees Using ONLY the WHITE Management Proxy


- Protect your investment in Sernova by voting FOR all of Sernova Management’s director nominees. - ISS and Glass Lewis, independent third-party proxy advisory firms, both recommend that shareholders vote FOR Sernova’s eight management nominees and not to vote for the dissident nominees. - The deadline to submit WHITE management proxies is Tuesday April 25, 2023 at 10:00 a.m. (Pacific time) - Shareholders who have questions or need assistance with voting their shares voting should contact Sernova Corp.’s strategic advisor and proxy solicitation agent Laurel Hill Advisory Group by telephone at 1-877-452- 7184 or by email at assistance@laurelhill.com.

LONDON, Ontario – April 21, 2023 – Sernova Corp. (“Sernova” or the “Corporation”) (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), reminds shareholders to vote the WHITE management proxy in advance of the proxy voting deadline on Tuesday April 25, 2023 at 10:00 a.m. (Pacific Time) FOR all of the Sernova management director nominees. We thank the many shareholders who have already voted FOR Sernova’s management nominees using the WHITE proxy and urge those who have not voted yet to cast their vote using the WHITE proxy —every shareholder and every share counts.

Shareholders are encouraged to read Sernova’s management information circular, the letter to shareholders the Corporation recently mailed to all shareholders and press releases by visiting Sernova - AGM Annual General Meeting, for details about how a group of dissident shareholders is trying to impose two unqualified nominees on Sernova’s board of directors.

Sernova’s Board Nominees – The Right Team with the Right Experience Sernova’s nominees, Frank Holler, Dr. Mohammad Azab, Jeffery Bacha, Deborah Brown, Dr. Daniel Mahony, James Parsons, Dr. Philip Toleikis and Brett Whalen possess the skills Sernova needs to continue the successful execution the Corporation’s plan to progress Sernova to its next stage of development:

- Significant expertise and experience in leading biotech companies. Sernova’s nominees all have significant breadth and depth of expertise and experience in directing public biotech, pharmaceutical, and healthcare sector companies in Canada and elsewhere. - Director Qualifications. Sernova’s nominees each have deep biotechnology industry experience encompassing relevant capabilities in finance, product and corporate development. The board has been developed and refreshed over time against a specific skills matrix with currently 50% of the board having served for less than 4 years. - Strong Financial and Cash Position. Sernova ended Q1 2023 with a strong balance sheet including cash resources of $45.6 million. Since the April 2022 annual meeting of shareholders, proceeds of $8 million were raised from the full exercise of the remaining outstanding 2019 and 2020 private placement common share purchase warrants. Additionally, the Company completed a private placement with strategic partner Evotec resulting in a total equity investment of $27 million.

In addition, within the last year, Sernova’s Board and management team have made significant progress with a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System (“CPS”), a novel implantable medical device with immune protected therapeutic cells. With a strong management and Board of Directors in the last 12 months the Company has:

- In May, 2022 - Entered into a global strategic partnership with Evotec SE (“Evotec”) 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 islet clusters to treat millions of patients with insulin-dependent diabetes (both type 1 and type 2). - In June, 2022 - Transitioned the Company from the TSX Venture Exchange to the TSX as part of the Company’s capital markets strategy to access a broader base of investors and position the Company more favourably for institutional investment. - In January 2023 - The Company announced the confirmation of its hypothyroid program proof-of concept, demonstrating that thyroid auto-transplantation in the Cell Pouch can compensate for removal of the thyroid gland and restore normal thyroid hormone production – potentially a lifechanging treatment for patients who have gone through the thyroid gland removal procedure.

Vote FOR your Management Nominees using ONLY Management’s WHITE Proxy Voting is easy. We encourage you to vote online or by telephone using the information on your WHITE proxy. Shareholders who have voted using the dissident’s GOLD proxy and wish to support Sernova’s management nominees still have the right to change their vote by simply voting FOR Sernova’s management nominees using the WHITE proxy. A later dated WHITE proxy will replace a previously submitted vote.

YOUR VOTE HAS NEVER BEEN MORE IMPORTANT. VOTE YOUR SHARES FOR SERNOVA’S MANAGEMENT NOMINEES AS SOON AS POSSIBLE, REGARDLESS OF THE NUMBER OF SHARES YOU OWN

Shareholders are encouraged to vote your shares as soon as possible. The deadline for voting your shares is at 10:00 a.m. (Pacific Time) on Tuesday April 25, 2023.

Sernova’s board of directors recommends that shareholders vote FOR all of the management director nominees and meeting resolutions using only the WHITE proxy.

Shareholder Questions Shareholders who have any questions or require assistance with voting may contact Sernova’s proxy solicitation agent and shareholder communications advisor:

Laurel Hill Advisory Group Toll Free: 1-877-452-7184 (for shareholders in North America) International: +1 416-304-0211 (for shareholders outside Canada and the US) By Email: assistance@laurelhill.com

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

Media 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.

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Press Release Communiqué de presse - April 18, 2023 18 April, 2023

Two Independent Proxy Advisory Firms, Including Glass Lewis & Co. LLC. Recommend Sernova's Shareholders Vote FOR all Management Nominees on Management's White Proxy


- Following Institutional Shareholder Services’ positive recommendations, Glass Lewis is the second independent, third-party proxy advisory firm to recommend Sernova’s shareholders vote FOR all management’s director nominees using ONLY management’s WHITE proxy. - Glass Lewis does not believe Sernova’s dissident shareholders have compiled a sufficiently compelling case to warrant investor support and refers to their arguments as “incomplete”. - Shareholders who have questions or need assistance with voting their shares should contact Sernova Corp.’s strategic advisor and proxy solicitation agent Laurel Hill Advisory Group by telephone at 1-877-452-7184 or by email at assistance@laurelhill.com.

LONDON, Ontario – April 18, 2023 – Sernova Corp. (“Sernova” or the “Corporation”) (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a clinical-stage company and leader in cell therapeutics, is pleased to announce that a second independent, third-party proxy advisory firm, Glass Lewis & Co. LLC (“Glass Lewis”), has recommended Sernova’s shareholders vote FOR all of Sernova’s management nominees using only management’s WHITE proxy.

Glass Lewis also recommended that shareholders vote FOR the appointment of KPMG LLP as Sernova’s auditors and FOR the resolution to amend the Corporation’s stock option plan and DSU Plan.

Glass Lewis is a leading independent, third-party proxy advisory firm which provides proxy voting recommendations to pension funds, investment managers, mutual funds, and other institutional shareholders.

Reasons for Glass Lewis’ Support of Sernova’s Management Nominees Glass Lewis’ recommendation that shareholders vote FOR all of Sernova’s management nominees using only management’s WHITE proxy, is based on a number of factors. Glass Lewis’ report states: “In this case… we do not believe the Dissidents have compiled a sufficiently compelling case to warrant investor support at this time. Our view in this regard hinges on three principal factors: (i) the Dissidents overall case against incumbent management and the board is fairly broad and arguably incomplete, with core analyses (e.g. share price performance) lacking context and certain strategic commentary failing to offer much depth relative to the board's much more copious rebuttal; (ii) the need to pursue the Dissidents' promulgated alternatives for the Company (i.e. positioning Sernova to secure additional financing within the next 18 months, investing in a go-to-market strategy, solidifying succession planning) is not especially well established, in our view, particularly given the Company's stable capital position and relationship with Evotec; and (iii) the Dissident nominees — which include a dentist with unspecified experience investing in early stage companies and a business consultant with a prior relationship with Sernova — do not appear to represent a clear, incremental improvement over the incumbent board members.

We also consider the board has, with due reference to Sernova's development stage and size, offered a reasonably well-rounded corporate update, touching both on the Company's prior milestones and anticipated near-term developments. The board also draws attention to Sernova's currently adequate capital position, which, though certainly not intended to serve as an indefinite bulwark against future funding requirements, appears to offer Sernova sufficient near-term liquidity and structural flexibility.

Under these conditions, we do not see that the Dissidents have provided Sernova investors with sufficient cause to support their agenda at this time.”

Glass Lewis Recommends Support of Sernova’s Proposed Securities Authorized for Issuance Under its Equity Compensation Plans Glass Lewis recommended that shareholders vote FOR the resolution to amend the Corporation’s stock option plan and DSU Plan, as the proxy advisory firm believes the terms of the plan are in line with the majority of similar equity-based plans of TSX issuers. Glass Lewis’ view is that the plan will serve to strengthen the alignment of company and shareholder interests. The Corporation believes that encouraging its executive officers, senior management and employees to become shareholders is the best way of aligning their interests with those of its long-term shareholders. As a result, executive officers management and employees are provided with the opportunity to participate in the appreciation of the Corporation’s share price, through Sernova’s equity compensation incentive plan.

Vote FOR your Management Nominees using ONLY Management’s WHITE Proxy It is up to you to protect the value of your investment in Sernova by voting FOR the eight management nominees. We encourage you to read Sernova’s management information circular and visit our website at www.sernova.com for more information. It is important that you ACT TODAY to protect your investment by voting FOR Sernova’s management nominees.

Sernova’s management nominees, Frank Holler, Dr. Mohammad Azab, Jeffery Bacha, Deborah Brown, Dr. Daniel Mahony, James Parsons, Dr. Philip Toleikis and Brett Whalen are committed to creating value for the Company’s shareholders through delivering results from clinical trials, expanding the Sernova’s Cell Pouch System™ technology platform for additional indications, and building on the relationships with the Corporation’s business partners to create long term shareholder value.

YOUR VOTE HAS NEVER BEEN MORE IMPORTANT. VOTE YOUR SHARES FOR SERNOVA’S MANAGEMENT NOMINEES AS SOON AS POSSIBLE, REGARDLESS OF THE NUMBER OF SHARES YOU OWN

Shareholders are encouraged to read Sernova’s management information circular and vote your shares as soon as possible. The deadline for voting your shares is at 10:00 a.m. (Pacific Time) on Tuesday, April 25, 2023.

Sernova’s board of directors recommends that shareholders vote FOR all of the management director nominees and meeting resolutions using only the WHITE proxy.

Shareholder Questions Shareholders who have any questions or require assistance with voting may contact Sernova’s proxy solicitation agent and shareholder communications advisor:

Laurel Hill Advisory Group Toll Free: 1-877-452-7184 (for shareholders in North America) International: +1 416-304-0211 (for shareholders outside Canada and the US) By Email: assistance@laurelhill.com

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

Media 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.

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

Institutional Shareholder Services Inc. Recommends Sernova's Shareholders Vote FOR all Management Nominees on Management's White Proxy


- ISS, an independent, third-party proxy advisory firm, recommends Sernova’s shareholders vote FOR all management’s director nominees using ONLY management’s WHITE proxy. - ISS notes the dissidents failed to present a detailed explanation of their case and there does not seem to be a compelling case that change at Sernova is warranted at this time. - Shareholders who have questions or need assistance with voting their shares voting should contact Sernova Corp.’s strategic advisor and proxy solicitation agent Laurel Hill Advisory Group by telephone at 1-877-452- 7184 or by email at assistance@laurelhill.com.

LONDON, Ontario – April 14, 2023 – Sernova Corp. (“Sernova” or the “Corporation”) (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a clinical-stage company and leader in cell therapeutics, is pleased to announce that Institutional Shareholders Services Inc. (“ISS”) has recommended Sernova’s shareholders vote FOR all of Sernova’s management nominees using only management’s WHITE proxy.

ISS is a leading independent, third-party proxy advisory firm which provides proxy voting recommendations to pension funds, investment managers, mutual funds, and other institutional shareholders.

Reasons for ISS’ Support of Sernova’s Management Nominees In reaching its conclusion to recommend that Sernova’s shareholders vote FOR the Corporation’s management nominees and reject the attempt of a group of dissident shareholders to impose their director nominees on Sernova, ISS provided a number of reasons including the following:

“As the dissident has failed to present a detailed explanation of its case, there does not seem to be a compelling case that change is warranted at this time. The case for change is further impaired by the fact that the dissident has targeted two of the more tenured and experienced board members…. As such, the election of the dissidents to the board carries risk to cause an additional near-term impact at the management level which diverges from a status quo that does not seem unreasonable. Shareholders are therefore recommended to vote on the management proxy card for the eight management nominees.”

ISS’ review of dissident shareholders reasons for proposing change on Sernova’s board shows that a number of claims the dissidents made in their communications with Sernova’s shareholders are unsubstantiated:

“The dissident's arguments do not provide context in support of its claims, and the proposed solution does not include a reasoned basis for how it could lead to a superior outcome. As the dissident has not made a compelling case that board change is necessary at this time, votes on the management proxy card for the eight management nominees are warranted…. Moreover, the company's ability to secure relevant industry partnerships, as evidenced by its agreement secured with Evotec during 2022, seems difficult to call into question. The board has overseen the successful up-listing of the company to the TSX and there are members of the incumbent board which have sat on NASDAQ-listed biotech boards. In addition, the company seems to communicate interim data or study progress updates to shareholders multiple times annually and continues to provide this information at investor conferences, making broad-based allegations with respect to company communication look dubious.”

Vote FOR your Management Nominees using ONLY Management’s WHITE Proxy It is up to you to protect the value of your investment in Sernova by voting FOR the eight management nominees. We encourage you to read Sernova’s management information circular and visit our website at www.sernova.com for more information. It is important that you ACT TODAY to protect your investment by voting FOR Sernova’s management nominees.

Sernova’s management nominees, Frank Holler, Dr. Mohammad Azab, Jeffery Bacha, Deborah Brown, Dr. Daniel Mahony, James Parsons, Dr. Philip Toleikis and Brett Whalen have reputational credibility in capital markets to finance the growth of the Company. Sernova’s board and management team are committed to creating value for the Corporation’s shareholders through delivering results from clinical trials, driving preclinical programs, expanding the application of Sernova’s Cell Pouch System technology.

YOUR VOTE HAS NEVER BEEN MORE IMPORTANT. VOTE YOUR SHARES FOR SERNOVA’S MANAGEMENT NOMINEES AS SOON AS POSSIBLE, REGARDLESS OF THE NUMBER OF SHARES YOU OWN

Shareholders are encouraged to read Sernova’s management information circular and vote your shares as soon as possible. The deadline for voting your shares is at 10:00 a.m. (Pacific Time) on Tuesday April 25, 2023.

Sernova’s board of directors recommends that shareholders vote FOR all of the management director nominees and meeting resolutions using only the WHITE proxy.

Shareholder Questions Shareholders who have any questions or require assistance with voting may contact Sernova’s proxy solicitation agent and shareholder communications advisor:

Laurel Hill Advisory Group Toll Free: 1-877-452-7184 (for shareholders in North America) International: +1 416-304-0211 (for shareholders outside Canada and the US) By Email: assistance@laurelhill.com

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

Investor 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.

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Press Release Communiqué de presse - April 10, 2023 10 April, 2023

Sernova to Present at 2023 Alliance for Regenerative Medicine Cell & Gene Meeting on the Med


LONDON, Ontario – April 10, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical- stage company and leader in cell therapeutics, today announced that President and Chief Executive Officer, Dr. Philip Toleikis, will present at the upcoming annual Cell & Gene Meeting on the Med to be held April 12-14, 2023 at the Hotel Arts Barcelona in Barcelona, Spain and livestreamed globally.

Panel: Navigating CGTx Development in 2023 Date: Wednesday, April 12, 2023 Time: 4:45 – 5:30 PM CET Location: BioCentriq Ballroom | Hotel Arts Barcelona, Spain

Virtual attendance is available which includes a livestream of Sernova’s presentation and the ability to view all conference sessions on-demand. Please visit https://meetingonthemed.com/ for full information including registration.

Complimentary attendance at this event is available for credentialed investors. Investors should contact Laura Stringham at lstringham@alliancerm.org.

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

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

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Press Release Communiqué de presse - April 06, 2023 6 April, 2023

Sernova Responds to Dissident Shareholders' Misleading Statements and Provides Corporate Updates


- The dissident director nominees declined to follow proper protocol to participate in Sernova’s board renewal process and instead are imposing themselves on the Company through a costly and disruptive proxy battle - Management and the Board have placed Sernova in a position to bring value to shareholders and in a challenging time for companies in the biotech sector, Sernova’s share price is up 17% year-to-date compared to an 8% decline in the benchmark Nasdaq XBI biotech index over the same period - Shareholders who have questions or need assistance with voting their shares should contact Sernova’s proxy solicitation agent, Laurel Hill Advisory Group by telephone at 1-877-452-7184 or by email at assistance@laurelhill.com

LONDON, Ontario – April 6, 2023 – Sernova Corp. (“Sernova” or the “Company”) (TSX:SVA) (OTCQB: SEOVF) (FSE/XETRA:PSH), a clinical-stage company and leader in cell therapeutics, today responds to misleading statements made in a press release from a group of dissident shareholders. Additionally, Sernova is pleased to highlight select upcoming milestones for the remainder of 2023 and into 2024 and provides an update on key achievements and events since the Company’s last annual general meeting (AGM) in 2022.

BACKGROUND TO DISSIDENT ACTIONS AND BOARD RENEWAL PROCESS

Leading up to the Company’s 2023 annual meeting of shareholders and pursuant to Sernova’s Advance Notice By-law, the Company received two nominations for the position of director to Sernova’s board of directors (the “Board”) from the dissident shareholders. A third candidate also expressed interest in joining Sernova’s board of directors. With three candidates to consider for a single board seat, the board’s Nominating and Governance Committee (the “NGC”) invited all three candidates to participate in a formal review and rigorous evaluation process, including presentation of their respective credentials and expertise to the board. Following good corporate governance practices, Sernova’s NGC evaluates candidates against formalized criteria and a skills matrix that align with the Company’s current, and more importantly, future needs to ensure the best candidates are selected as nominees for election to the board.

The Dissident Shareholders’ claim that the board did not meaningfully engage is simply untrue

- Only one candidate, Mr. Brett Whalen, chose to participate in the formal process. After rigorous evaluation, vetting and determination that his background and experience would be beneficial to the future direction of the Company, Mr. Brett Whalen was selected for nomination for election to the board at Sernova’s 2023 annual meeting of shareholders. - The two individuals nominated by the dissident shareholder group elected not to participate in the interview process nor did they meet with Sernova’s board. Instead, they have chosen to go the route of a costly and distracting proxy battle.

The Dissident Shareholders are opposing the revised / amended compensation plan based on their claim that management unilaterally decreased their price from $1.30 to $0.91, which is simply untrue

- No outstanding stock options have been repriced by the Company nor is there any intention. - The pricing of any future stock options granted by the Company would be in compliance with the policies of the TSX.

The current board members are well positioned to build on the progress the Company has made to date and take Sernova to its next stage of development as outlined under the Corporate Updates below.

CORPORATE UPDATES

Sernova’s board and management team are committed to creating value for the Company’s shareholders through delivering results from clinical trials, driving preclinical programs, expanding the Company’s Cell Pouch System technology platform to additional indications, and evolving industry relationships for potential future partnership opportunities to create long term shareholder value. The Company is providing the following updates to keep shareholders abreast of developments and work that will create value for shareholders.

BIOTECH INDUSTRY PERFORMANCE AND SERNOVA SHARE PRICE

After a record-breaking year in 2021, 2022 was one of the most challenging years for the general healthcare and biotech industries in capital markets history. Similar to that experienced by peer companies and healthcare related industries as a whole, Sernova’s share price was negatively impacted with investors reallocating capital to other market sectors. Despite the ongoing difficult markets, Sernova has made encouraging progress in 2023 as reflected in its share performance being up 17% year-to-date (as of April 3, 2023) compared to an 8% decline in the Nasdaq XBI biotech index over the same period. The 25% relative advance of Sernova’s share price compared to this benchmark index recognizes the sound fundamentals and progress as the Company continues to deliver results from the clinic and evolve preclinical programs and key technologies to create long term shareholder value.

UPCOMING EVENTS AND PROGRAM MILESTONES

- On April 24, 2023, the Company’s global iPSC strategic partner, Evotec SE (Evotec), will showcase the first data on the use of its iPSC pancreatic islet-like clusters in Sernova’s Cell Pouch™ in a podium presentation at the IPITA / HSCI / JDRF Summit. The peer reviewed abstract is entitled: “Manufacturing of Optimized Human Islet-like Clusters (ILCs) from iPSCs and Functional Testing of an ILC + Cell Pouch Combination In Vivo.” - On June 24, 2023, the research team of Dr. Piotr Witkowski, primary investigator for the Company’s ongoing Phase 1/2 clinical trial for type-1 diabetes (T1D), will deliver an oral presentation at the American Diabetes Association (ADA) 83rd Scientific Sessions, providing an update on interim results from patients enrolled and treated in the ongoing study. The peer reviewed abstract is entitled: “Islet Allotransplantation into Prevascularized Sernova Cell Pouch – Early Results from the University of Chicago.” - During 2023 H2, Sernova anticipates providing the first interim data for the recently initiated second cohort of patients for its ongoing Phase 1/2 T1D clinical trial using the dose-optimized higher capacity 10-channel Cell Pouch. - In 2024, Sernova plans to initiate a Phase 1/2 clinical trial for T1D with Evotec’s iPSC islet-like cluster technology in Sernova’s Cell Pouch. - In 2024, Sernova plans on initiating a Phase 1/2 clinical trial for treatment of hypothyroid disease following complete thyroidectomy and transplanting a patient’s own healthy thyroid tissue into the Sernova Cell Pouch.

SELECT HIGHLIGHTS SINCE SERNOVA’S 2022 AGM

Advances in Sernova’s U.S. Phase 1/2 clinical trial for the treatment of T1D and hypoglycemia unawareness (the “Phase 1/2 T1D Study”) - November 2022 – Completion of enrollment for the first cohort of patients. - November 2022 – Regulatory clearance received to proceed to enroll a second patient cohort (of up to seven patients) with the dose optimized higher capacity 10-channel Cell Pouch. - January 2023 – The first two patients in the second cohort were enrolled and implanted with the dose optimized 10-channel Cell Pouch. - March 2023 – The second cohort’s third patient was enrolled and implanted with the dose optimized 10- channel Cell Pouch and initial islet transplantation completed for the first two patients.

May 2022 – Sernova signed a landmark iPSC stem cell technology deal with Evotec - Sernova and Evotec entered an exclusive global strategic partnership to develop a best-in-class iPSC stem cell-derived technology to provide a commercially viable supply of islet clusters for patients living with insulin- dependent diabetes. - Sernova has option exercise rights for an exclusive global license up to and upon filing of an IND. - Evotec will contribute its cell manufacturing capabilities through research, development and product commercialization and may also jointly fund future clinical development. Upon commercialization, royalties will be payable by Sernova to Evotec with the royalty rate dependent on Evotec’s participation in funding of the clinical development program. - Evotec made a strategic investment into Sernova with an initial 6% equity stake.

June 2022 - Sernova common shares up-listed to the Toronto Stock Exchange (TSX) - Transition from the TSX Venture Exchange to the TSX was part of the Company’s capital markets strategy to pursue more senior exchange listings, at the appropriate time, to access a broader base of investors and position the Company more favourably for institutional investment. - This transition also further favourably readies the Company to leverage the unique advantages of the Multijurisdictional Disclosure System (“MJDS”) available to qualifying Canadian companies for a potential future senior U.S. exchange listing. A senior U.S. exchange listing would be contingent on further improvement to the challenging capital markets for healthcare companies.

June 2022 – Dr. Piotr Witkowski presented positive interim Phase 1/2 clinical data in an oral podium presentation at the American Diabetes Association 82nd Scientific Sessions - The first three transplanted patients presented positive serum C-peptide values confirming active insulin production after islet transplantation into the Cell Pouch System. - All patients who had favorable immunosuppression achieved complete insulin independence with normal HbA1c measurements of 5.0, 5.2 and 5.2%.

January 2023 – Hypothyroid program proof-of-concept confirmed and advancements announced - A pre-clinical study confirmed proof-of-concept for the thyroid indication – the third indication for the Company’s Cell Pouch System™ - demonstrating that thyroid auto-transplantation in the Cell Pouch can compensate for removal of the thyroid gland (total thyroidectomy), restoring normal thyroid hormone production. - Sernova has engaged with regulatory authorities towards initiating clinical development of a prospective therapy for hypothyroidism.

FINANCIAL AND CASH RESOURCES UPDATE

- Sernova ended Q1 2023 with a strong balance sheet including cash resources of $45.6 million. - Since the April 2022 AGM: - Proceeds of $8 million were raised from the full exercise of the remaining outstanding 2019 and 2020 private placement common share purchase warrants. - The Company completed a private placement with strategic partner Evotec resulting in a total equity investment of $27 million.

VOTE TODAY USING ONLY MANAGEMENT’S PROXY

Shareholders are encouraged to read Sernova’s 2023 AGM Management Information Circular available on the Company’s website at www.sernova.com/investor/agm. The best path forward is for shareholders to vote for management’s slate of directors and the resolutions contained within.

YOUR VOTE HAS NEVER BEEN MORE IMPORTANT. VOTE YOUR SHARES FOR SERNOVA’S NOMINEES USING ONLY MANAGEMENT’S PROXY AS SOON AS POSSIBLE, REGARDLESS OF THE NUMBER OF SHARES YOU OWN

The deadline for voting your shares is at 10:00 a.m. Pacific Time on Tuesday April 25, 2023.

SHAREHOLDER QUESTIONS

Sernova shareholders who have any questions or require assistance with voting may contact Sernova’s proxy solicitation agent and shareholder communications advisor:

Laurel Hill Advisory Group Toll Free: 1-877-452-7184 (for shareholders in North America) International: +1 416-304-0211 (for shareholders outside Canada and the US) By email: assistance@laurelhill.com

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

Media 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.

Privacy PolicyPolitique de confidentialité

Updated July 6, 2018

Please read this Policy carefully along with our Legal Notice that describes our Terms of Use for the Website.

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This Policy is a living document and may be amended or updated from time to time without further notice. We encourage you to review the Policy periodically.



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Sernova Corp.
700 Collip Circle, Suite 114
London, ON Canada N6G 4X8

Mis à jour le 6 juillet 2018

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Sernova Corp.
700 Collip Circle, Suite 114
London, ON Canada N6G 4X8