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    Press Release - November 17, 2011

    Sernova Retains Investor Relations Firm Russo Partners LLC


    Source: Sernova Corp

    November 17, 2011, 6:00 a.m. EST

    LONDON, ONTARIO--(Marketwire -- November 17, 2011) - Sernova Corp. (TSX-V: SVA), is pleased to announce that it has retained Russo Partners LLC, a leading healthcare communications company with over 23 years of experience, to provide investor relations services to Sernova.

    "Russo Partners has extensive experience and a proven track record in healthcare communications as well a deep pool of institutional investor contacts. We look forward to working with Russo as Sernova is poised to transition from a preclinical to a clinical stage company with an international presence," said Dr. Philip Toleikis, Ph.D., President and CEO of Sernova.

    Russo Partners will work closely with Sernova's management on all facets of the company's communication strategy, including Sernova's positioning and messaging. Russo Partners will also secure presentation opportunities, media interviews and investor meetings for the company during first quarter of 2012.

    Pursuant to the investor and public relations agreement, which is subject to the acceptance of the TSX Venture Exchange, Sernova will pay Russo Partners a monthly fee of $8,000 plus a one-time fee of $15,000 in two monthly installments. The agreement may be terminated by either party on 30 days notice.

    About Sernova

    Sernova Corp. is a Canadian-based health sciences company focused on product development and commercialization of innovative proprietary platform medical technologies in the cell therapy arena such as the Cell Pouch System(TM) to provide a safe and efficacious environment for therapeutic cells and Sertolin(TM), a technology which, when combined with cell therapy, may protect therapeutic cells without the need for patients to take anti-rejection drugs. Sernova's first cell therapy application is for insulin-dependent diabetes to reduce or eliminate the need for insulin injections.

    About Russo Partners LLC

    Russo Partners is a U.S.-based corporate communications firm with a proven track record in providing strategic and effective communications counsel to companies in the healthcare sector. Russo Partners connects its clients with the audiences that matter the most: investors, business partners, physicians and patients. The Russo Partners team consists of senior PR counselors with Ph.D.s, M.D.s and M.B.A.s.

    For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 info@sernova.com www.sernova.com

    Tony Russo, Ph.D. Russo Partners, LLC Tel: (212) 845-4251 tony.russo@russopartnersllc.com

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including availability of funds, the results of financing efforts, the results of research and product development activities -- that could cause actual results to differ materially from Sernova's expectations are disclosed in Sernova's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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