2022 Press Releases Communiqués de presse

November 17, 2022 17 November, 2022

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

November 4, 2022 4 November, 2022

Sernova to Participate in the Stifel Healthcare Conference

November 3, 2022 3 November, 2022

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

October 24, 2022 24 October, 2022

Sernova Corp. Announces Change of Auditor

September 28, 2022 28 September, 2022

Sernova to Participate in the Roth Inaugural Healthcare Opportunities Conference

September 22, 2022 22 September, 2022

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

September 8, 2022 8 September, 2022

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

September 7, 2022 7 September, 2022

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

September 1, 2022 1 September, 2022

Sernova Receives Second Tranche Equity Investment from Evotec of $6.8 Million at a Price of $2.50 Per Share

August 30, 2022 30 August, 2022

Sernova to Participate in Live Investor Event Hosted by Leede Jones Gable, Inc.

June 15, 2022 15 June, 2022

Sernova to Participate in the Truist Securities Cell Therapy Symposium, Symposia-cel in June

June 6, 2022 6 June, 2022

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

June 1, 2022 1 June, 2022

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

May 24, 2022 24 May, 2022

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

May 17, 2022 17 May, 2022

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

May 9, 2022 9 May, 2022

Sernova Announces Abstract on Phase 1/2 Trial with Cell Pouch Selected for Oral Podium Presentation at American Diabetes Association 82nd Scientific

May 5, 2022 5 May, 2022

Sernova to Participate in Multiple U.S. Healthcare Investor Conferences

April 29, 2022 29 April, 2022

Sernova Announces 2022 Annual General Meeting Results

March 17, 2022 17 March, 2022

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

February 24, 2022 24 February, 2022

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

January 27, 2022 27 January, 2022

Sernova Announces Peer Reviewed Publication Demonstrating Positive Preclinical Safety and Efficacy Indicators of Its Novel Cell Pouch System™ Therap

January 20, 2022 20 January, 2022

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

January 10, 2022 10 January, 2022

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

January 5, 2022 5 January, 2022

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

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

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


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

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

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

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

ABOUT THE US PHASE 1/2 SECOND STUDY COHORT

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

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

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

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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

FORWARD-LOOKING INFORMATION

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

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

Sernova to Participate in the Stifel Healthcare Conference


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

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

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

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

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

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

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

FORWARD-LOOKING INFORMATION

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

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

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


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

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

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

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

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

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

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

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

ABOUT PHASE 1/2 STUDY SECOND COHORT

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

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

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

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

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

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

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

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

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

FORWARD-LOOKING INFORMATION

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

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

Sernova Corp. Announces Change of Auditor


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

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

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

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

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

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

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

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

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

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

Sernova to Participate in the Roth Inaugural Healthcare Opportunities Conference


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

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

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

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

Investors:

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

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

FORWARD-LOOKING INFORMATION

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

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

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


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

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

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

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

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

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

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

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

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

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

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


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

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

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

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

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

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

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

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing regenerative medicine therapeutic technologies for chronic diseases, including diabetes, thyroid disease, and blood disorders including hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for diabetes with its regenerative cell therapy platform technologies, including its proprietary Cell Pouch™. On implantation, the Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release necessary proteins or factors missing from the body to treat chronic diseases. Sernova’s Cell Pouch System has already shown it can potentially provide a ‘functional cure’ to people with type 1 diabetes in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing its proprietary conformal coating technology in collaboration with the University of Miami to cloak the therapeutic cells from the immune system attack with the goal to eliminate the need for chronic immunosuppressives. In May 2022, Sernova and Evotec entered into a global strategic collaboration to develop an implantable off-the-shelf iPSC- based (induced pluripotent stem cells) beta cell replacement therapy. This collaboration potentially provides Sernova an unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova is also gearing up to be in the clinic in two additional programs that utilize its Cell Pouch System – an implantable cell therapy for benign thyroid disease resulting from thyroid gland removal and an ex-vivo lentiviral factor VIII gene therapy for hemophilia A.

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

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

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

FORWARD-LOOKING INFORMATION

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

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

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


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

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

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

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

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

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

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing regenerative medicine therapeutic technologies for chronic diseases, including diabetes, thyroid disease, and blood disorders including hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for diabetes with its regenerative cell therapy platform technologies, including its proprietary Cell Pouch™. On implantation, the Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release necessary proteins or factors missing from the body to treat chronic diseases. Sernova’s Cell Pouch System has already shown it can potentially provide a ‘functional cure’ to people with type 1 diabetes in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing its proprietary conformal coating technology in collaboration with the University of Miami to cloak the therapeutic cells from the immune system attack with the goal to eliminate the need for chronic immunosuppressives. In May 2022, Sernova and Evotec entered into a global strategic collaboration to develop an implantable off-the-shelf iPSC- based (induced pluripotent stem cells) beta cell replacement therapy. This collaboration potentially provides Sernova an unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova is also gearing up to be in the clinic in two additional programs that utilize its Cell Pouch System – an implantable cell therapy for benign thyroid disease resulting from thyroid gland removal and an ex-vivo lentiviral factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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

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Press Release Communiqué de presse - September 01, 2022 1 September, 2022

Sernova Receives Second Tranche Equity Investment from Evotec of $6.8 Million at a Price of $2.50 Per Share


LONDON, Ontario – September 1, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/ XETRA:PSH), a clinical-stage company and leader in regenerative medicine cell therapeutics, today announced that it has completed the second and final tranche of its previously announced private placement with Evotec SE (FSE:EVT) (NASDAQ: EVO) of 2,709,800 common shares of the Company (“Common Shares”) at a price of $2.50 per share for total proceeds of $6,774,500. Upon completion of the second tranche, Evotec’s strategic investment in Sernova totals $27,098,000.

“Evotec’s investment at $2.50 per share, significantly more than double yesterday’s closing price, reflects the value our strategic partner places on Sernova relative to the current trading price on the TSX,” commented Dr. Philip Toleikis, President and CEO of Sernova Corp. “The dedication and synergy of our mutual teams to advance the iPSC diabetes program expeditiously has been impressive. We remain confident that our combined product strategy could dramatically impact the day to day lives of millions of people and their families worldwide with diabetes. With $50 million on our balance sheet, including Evotec’s additional investment and recent significant exercises of outstanding warrants, Sernova is well positioned to expedite the advancement of our iPSC diabetes stem cell initiative with Evotec and other regenerative cell therapy programs which we envision having a significant valuation impact.”

Sernova will use the net proceeds from the Common Shares for general working capital purposes and to continue pursuing ‘functional cures’ for diabetes, hypothyroidism and hemophilia A. The Common Shares are subject to a statutory four month hold period.

Warrants Update

In addition to the Evotec private placement share issuances, 14,814,535 common shares have been issued for the exercise of warrants for proceeds totaling $4,493,587 since the end of the Company’s last filed fiscal quarter (April 30, 2022). All warrants with expiry dates of August 16, August 30, and September 9, 2022 have been fully exercised by the warrant holders. Of the warrants previously issued expiring September 22, 2022, to date a total of 2,382,954 have been exercised by the warrant holders. If the remaining outstanding warrants are fully exercised by September 22, 2022, additional proceeds of approximately $3.5 million will be received and further bolster the Company’s cash reserves.   ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM™ PLATFORM FOR CELL THERAPY Sernova Corp. is a clinical-stage biotechnology company that is developing regenerative medicine therapeutic technologies for chronic diseases, including diabetes, thyroid disease, and blood disorders including hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for diabetes with its regenerative cell therapy platform technologies, including its proprietary Cell Pouch™. On implantation, the Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release necessary proteins or factors missing from the body to treat chronic diseases. Sernova’s Cell Pouch System has already shown it can potentially provide a ‘functional cure’ to people with type 1 diabetes in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing its proprietary conformal coating technology in collaboration with the University of Miami to cloak the therapeutic cells from the immune system attack with the goal to eliminate the need for chronic immunosuppressives. In May 2022, Sernova and Evotec entered into a global strategic collaboration to develop an implantable off-the-shelf iPSC- based (induced pluripotent stem cells) beta cell replacement therapy. This collaboration potentially provides Sernova an unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova is also gearing up to be in the clinic in two additional programs that utilize its Cell Pouch System – an implantable cell therapy for benign thyroid disease resulting from thyroid gland removal and an ex-vivo lentiviral factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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



FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - August 30, 2022 30 August, 2022

Sernova to Participate in Live Investor Event Hosted by Leede Jones Gable, Inc.


- Virtual webcast to be held Thursday September 08, 2022 at 1:00 PM ET -

LONDON, Ontario – August 30, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical- stage company and leader in regenerative medicine cell therapeutics, today announced that Dr. Philip Toleikis, President & CEO of Sernova Corp, will participate in a fireside chat discussion moderated by Dr. Douglas Loe, Analyst - Healthcare & Biotechnology & Managing Director at Leede Jones Gable, Inc. Following the discussion, investors will have the opportunity to submit questions for Sernova management during the live webcast by registering for the event as described in the links below.

Date: Thursday September 08, 2022

Time: 1:00 PM ET

Registration Link: https://lifesci.rampard.com/WebcastingAppv5/Events/eventsDispatcher.jsp?Y2lk=MjAyNg==

Further details are available on the Sernova website at: https://www.sernova.com/investor/?disclaimer=1#Events

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

Sernova Corp. is a clinical-stage biotechnology company that is developing regenerative 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. On implantation, the Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release necessary proteins or factors missing from the body to treat chronic diseases. Sernova’s Cell Pouch System has already shown it can potentially provide a ‘functional cure’ to people with type 1 diabetes in an ongoing Phase 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 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 Tel: 519-902-7923 www.sernova.com

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

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

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Press Release Communiqué de presse - June 15, 2022 15 June, 2022

Sernova to Participate in the Truist Securities Cell Therapy Symposium, Symposia-cel in June


LONDON, Ontario – June 15, 2022 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical- stage company and leader in regenerative medicine cell therapeutics, today announced that Dr. Philip Toleikis, President & CEO of Sernova Corp., will be participating in the Truist Securities Cell Therapy Symposium, Symposia-cel being held in person at the Lotte New York Palace on Tuesday, June 28, 2022. Company management will also be participating in 1x1 meetings during the event.

Truist Securities Cell Therapy Symposium, Symposia-cel – June 28, 2022 Panel Title: Cell Therapy for Non-Oncology Indications Date: Tuesday, June 28, 2022 Time: 2:00-3:00 PM ET Presenter: Dr. Philip Toleikis, President & CEO, Sernova Corp Location: Lotte New York Palace* * Further details available on the Truist event website

If you are interested in arranging a 1x1 meeting request, please contact your Truist representative.

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

Sernova Corp. is a clinical-stage biotechnology company that is developing regenerative medicine therapeutic technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders 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

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Press Release Communiqué de presse - June 06, 2022 6 June, 2022

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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

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



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Press Release Communiqué de presse - June 01, 2022 1 June, 2022

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


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

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

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

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM™ PLATFORM FOR CELL THERAPY Sernova Corp. is developing regenerative medicine therapeutic technologies using a medical device and immune protected therapeutic cells (i.e., human donor cells, corrected human cells and stem-cell derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin- dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body.

The Cell Pouch™ is a proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that release proteins and hormones as required to treat disease.

The Cell Pouch along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase 1/2 clinical trial study at the University of Chicago. Encouraging interim results have been presented at several international scientific conferences.

For more information, please visit www.sernova.com

For further information contact:

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

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

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

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

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



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

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


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

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

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

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

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

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

The Cell Pouch™ is a proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that release proteins and hormones as required to treat disease.

The Cell Pouch along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase 1/2 clinical trial study at the University of Chicago. Encouraging interim results have been presented at several international scientific conferences.

For more information, please visit www.sernova.com

For further information contact:

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

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

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

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

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

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

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


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

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

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

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

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

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

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

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

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

Joint Sernova / Evotec Conference Call and Webcast Details:

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

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

ABOUT SERNOVA CORP AND THE CELL POUCH SYSTEM CELL THERAPY PLATFORM

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

The Cell Pouch, as part of the Cell Pouch System, is a proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase 1/2 clinical trial study at the University of Chicago. Encouraging interim results have been presented at several international scientific conferences. For more information, please visit www.sernova.com

ABOUT EVOTEC AND iPSC

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

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

For further information contact:

Corporate and Investors:

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

Investors:

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

Media:

Elizabeth Miller, MD LifeSci Communications emiller@lifescicomms.com

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

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Press Release Communiqué de presse - May 09, 2022 9 May, 2022

Sernova Announces Abstract on Phase 1/2 Trial with Cell Pouch Selected for Oral Podium Presentation at American Diabetes Association 82nd Scientific Sessions 2022


LONDON, ONTARIO – May 9, 2022 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage cell therapy therapeutics company focused on developing a potential ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases, is pleased to announce that that an abstract has been selected for an oral podium presentation at the upcoming American Diabetes Association (ADA) 82nd Scientific Sessions, to be held from June 3-7, 2022, at the Ernest N. Morial Convention Center in New Orleans, LA.

Abstract 306-OR: Modified Approach for Improved Islet Allotransplantation into Prevascularized Sernova Cell PouchTM Device: Preliminary Results of the Phase I/II Clinical Trial at University of Chicago

Abstract Session: Islet Transplantation —Basic Science Session Date/Time: Monday, June 6, 2022 at 2:15 PM – 4:15 PM CT Presentation Time: 3:15-3:30 PM CT Authors: Bachul PJ, Perez-Guetierrez A, Ling-jia Wang, Golab K, Basto L, Perea L, Tibudan M, Braden J, Thomas C, Philipson L, Barth R, Fung JJ, Witkowski P

Sernova will disclose additional information about the presentation at the time of the conference in alignment with the American Diabetes Association’s abstract embargo policies.

ABOUT SERNOVA

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

ABOUT SERNOVA’S CELL POUCH SYSTEM CELL THERAPY PLATFORM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase 1/2 clinical trial study at the University of Chicago. Encouraging interim results have been presented at several international scientific conferences.

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 - May 05, 2022 5 May, 2022

Sernova to Participate in Multiple U.S. Healthcare Investor Conferences


Sernova Engages Leading U.S.-Based Healthcare Communications Firm to Broaden Awareness of Potential ‘Functional Cure’ Technology for Type 1 Diabetes

LONDON, ONTARIO – May 5, 2022 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical stage regenerative medicine company focused on developing a potential ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases including hemophilia A and thyroid disease, today announced that the company will be participating in several upcoming U.S. healthcare industry and investor conferences. Conference details are provided below.

The Company is also pleased to announce it has engaged New York-based LifeSci Communications, a global life science and medical technologies-focused communications and marketing agency. LifeSci Communications will assist Sernova to expand and elevate its profile through strategic communications and public relations. Sernova is also working with affiliate LifeSci Advisors LLC, a leading investor relations consultancy firm serving life science companies, providing institutional investor communications and capital markets outreach services in support of the Company’s U.S. capital markets objectives.

“With multiple collaborations advancing across our pipeline and growing interest in our best-in-class cell therapy therapeutic solution platform - consisting of immune protected therapeutic cells and our proprietary Cell Pouch™ medical device - as a potential ‘functional cure’ for multiple patient populations, the timing is right to drive awareness of our unique cell therapy proposition and unprecedented clinical results including the demonstration of continuous insulin independence for over two years now in our most advanced Phase 1/2 T1D study patient, in contrast to the clinical setbacks of several of our peer companies,” commented Dr. Philip Toleikis, President & CEO of Sernova.

UPCOMING U.S. HEALTHCARE INDUSTRY AND INSTITUTIONAL INVESTOR PRESENTATIONS

Event: Roth Capital’s Canada Corporate Access Day Date: May 17, 2022 Format: Corporate presentation and 1x1 meetings with institutional investors Location: New York, NY Event: H.C. Wainwright Global Life Sciences Conference Date: May 24-25, 2022 Format: Corporate presentation and 1x1 meetings with institutional investors Location: Miami Beach, FL Event: Truist Securities Cell Therapy Symposium Date: June 28, 2022 Format: Panel expert and discussions Location: New York, NY

ABOUT SERNOVA Sernova is developing regenerative medicine cell therapeutic solutions using a medical device (Cell Pouch) and immune protected therapeutic cells / tissues (i.e. human donor cells, corrected human cells and stem cell- derived cells) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through cellular production of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com. ABOUT SERNOVA’S CELL POUCH SYSTEM CELL THERAPY PLATFORM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that release proteins and hormones as required to treat disease. The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase 1/2 clinical trial study at the University of Chicago. Encouraging interim results have been presented at several international scientific conferences. FOR FURTHER INFORMATION, PLEASE CONTACT: Investors and Analysts Christopher Barnes Corey Davis, Ph.D. VP, Investor Relations Managing Director Sernova Corp. LifeSci Advisors, LLC christopher.barnes@sernova.com cdavis@lifesciadvisors.com Tel: 519-902-7923 Tel: 212-915-2577 www.sernova.com 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 complete collaboration activities; ability to secure collaboration arrangements from its collaboration activities; 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 29, 2022 29 April, 2022

Sernova Announces 2022 Annual General Meeting Results


LONDON, ONTARIO – April 29, 2022 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical stage regenerative medicine company 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 28, 2022. Shareholders voted overwhelmingly in favour of all management resolutions proposed in the Company’s Information Circular.

The following resolutions were proposed and approved at the AGM: • The re-election of the following directors for the ensuing year: Frank Holler, James Parsons, Jeffrey Bacha, Deborah Brown, Dr. Mohammad Azab and Dr. Philip Toleikis. • The appointment of Davidson & Company 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.

“I sincerely appreciate our shareholders ongoing support for Sernova. The Board and management are very excited about the immediate and long-term prospects of the Company as we expand our therapeutic applications, broaden our capital markets following and execute on a number of strategic initiatives,” said Dr. Philip Toleikis, President & CEO of Sernova Corp.

Management’s corporate update to shareholders will be available on Sernova’s website next week at www.sernova.com.

For further information contact:

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

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

ABOUT SERNOVA

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

ABOUT SERNOVA’S CELL POUCH

The Cell Pouch is a novel, proprietary, scalable, implantable macro-encapsulation device designed for the long- term survival and function of therapeutic cells. The device is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells which then release proteins and hormones as required to treat disease. The device along with therapeutic cells has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans.

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



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

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


Confirms Ongoing Safety and Tolerability of Sernova’s Cell Pouch

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

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

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

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

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

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

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

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

ABOUT SERNOVA’S CELL POUCH SYSTEM CELL THERAPY PLATFORM The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that release proteins and hormones as required to treat disease. The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase 1/2 clinical trial study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

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

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

FORWARD-LOOKING INFORMATION

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

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

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


Sernova awarded top performer status for two years standing

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

LONDON, ONTARIO – February 24, 2022 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage regenerative medicine and cell therapy therapeutics company focused on developing a potential ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases, is pleased to announce that that it has been named as one of the top 50 performers on the TSX Venture Exchange.

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

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

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

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

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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

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Press Release Communiqué de presse - January 27, 2022 27 January, 2022

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


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

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

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

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

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

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

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

ABOUT THYROID DISEASE

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

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

ABOUT SERNOVA’S CELL POUCH SYSTEM PLATFORM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans. Sernova is currently conducting a Phase 1/2 study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

  FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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

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Press Release Communiqué de presse - January 20, 2022 20 January, 2022

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


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

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

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

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

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

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

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

ABOUT HEMOPHILIA A

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

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

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

ABOUT HORIZON 2020 PROGRAM AND HEMACURE

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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

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Press Release Communiqué de presse - January 10, 2022 10 January, 2022

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


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

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

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

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

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

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

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

ABOUT HYPOGLYCEMIA UNAWARENESS

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

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

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

ABOUT SERNOVA’S CELL POUCH SYSTEM CELL THERAPY PLATFORM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. After implantation, the device incorporates with tissue, forming highly vascularized, native tissue chambers for the transplantation and function of therapeutic cells, that release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase 1/2 clinical trial study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

FORWARD-LOOKING INFORMATION

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

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

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


LONDON, ONTARIO – January 5, 2022 – Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage regenerative medicine and cell therapy therapeutics company focused on developing a potential ‘functional cure’ for type 1 diabetes (T1D) and other chronic diseases, is pleased to announce that new interim results from the ongoing safety, tolerability and efficacy Phase I/II clinical trial of Sernova’s Cell Pouch™ will be released on January 10, 2022.

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

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

ABOUT THE J.P. MORGAN HEALTHCARE CONFERENCE

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

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

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch, as part of the Cell Pouch System, is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device upon implantation is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells, which then release proteins and hormones as required to treat disease.

The Cell Pouch, along with therapeutic cells, has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans in a Canadian first-in-human study. Sernova is currently conducting a Phase I/II study at the University of Chicago. Positive initial results have been presented at several international scientific conferences.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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

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