Press release Communiqué de presse

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Press release Communiqué de presse


May 9, 2007 9 May, 2007

Sernova Raises $2.4 Million to Advance Sertolin to Clinical Trails


-Completes Acquisition of All Rights to Sertoli Technology-

Kelowna, British Columbia - May 9, 2007 - Sernova Corp. (TSX-V: SVA), a company focused on a novel treatment for insulin-dependent diabetes using its patented Sertolin cell technology, announced that it has raised $2.4 million through the exercise of all outstanding warrants. The funds will be used to continue the Company's development of Sertolin, Sernova's cellular therapy for diabetes.

"The warrant exercise was an ideal way for us to raise capital for the Sertolin project without diluting our current share structure," said CEO Justin Leushner. "The company appreciates the continued support by its shareholders."

Under the terms of the warrant agreement, the Company had a right to trigger the exercise of the warrants when the 10 day average of the closing price of the Company's shares was equal to or above $1.00 per share. With this condition met, Sernova notified warrant holders that they had until May 7, 2007 to complete the exercise of the warrants. All 4,036,375 outstanding warrants were exercised at $0.60 per share.

Sernova also announced that it now has sole control of the Sertolin technology. With the proceeds from the exercise of the warrants, Sernova has met its financing commitments for the Sertolin technology and will complete its obligations under the original financing agreement to issue an additional 2,315,000 escrow shares. (See the Company's news release dated May 25, 2006.) Sernova has also made a cash payment of $1,142,312 to Sertoli Technologies Inc. for the exclusive license to the Sertoli cells patents. There are no further payments required under the license agreement, except for a continuing obligation to pay a small royalty on future commercial sales of products based upon the use of Sertoli cells.

About Sernova

Sernova Corp. is a Canadian-based, health- sciences company focused on commercializing medical technologies and is currently working on a novel treatment for insulin-dependent diabetes using its patented Sertolin cell technology. According to the American Diabetes Association approximately 9 million Americans require insulin injections and it is the sixth leading cause of death in the United States. Over $100 billion per year is spent in the US on treating diabetes and its complications, and worldwide expenditures on insulin are estimated to be $25 billion annually.

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

For further information contact:

TEL: (888) 318-7062 FAX: (250) 868-8493 info@sernovacorp.com www.sernovacorp.com

Phil Morehouse Sernova Corp.

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