2021 Press Releases Communiqués de presse

May 4, 2021 4 Mai, 2021

Sernova Announces the Nomination of Seasoned Pharma Executive Dr. Mohammad Azab to its Board of Directors

April 28, 2021 28 Avril, 2021

Sernova KOL Event Highlights Novel Cell Therapy Approach for the Potential Treatment of Thyroid Disease

April 21, 2021 21 Avril, 2021

Sernova to Host a Virtual Key Opinion Leader Event on Thyroid Disease and the Potential for its Cell Therapy as a Novel Treatment Approach

April 14, 2021 14 Avril, 2021

Sernova Appoints Internationally Renowned Thyroid Disease Expert Dr. Sam Wiseman to its Scientific Advisory Board

April 6, 2021 6 Avril, 2021

Sernova Announces Presentation at the American Diabetes Association 81st Scientific Sessions

March 15, 2021 15 Mars, 2021

Sernova Provides Positive Outlook Regarding the Development of Its Innovative Therapeutics Platform Technology for Chronic Diseases

March 1, 2021 1 Mars, 2021

SERNOVA ANNOUNCES CLOSING OF C$23 MILLION BOUGHT DEAL FINANCING INCLUDING FULL EXERCISE OF OVER-ALLOTMENT OPTION

February 25, 2021 25 Février, 2021

Sernova Corp. Selected for the TSX Venture Stock Exchange’s 2021 Venture 50 List of Top Performing Listed Companies

February 24, 2021 24 Février, 2021

Sernova Obtains Final Prospectus Receipt for $20 Million Bought Deal

February 18, 2021 18 Février, 2021

Sernova Announces Second Annual Data Safety Monitoring Board Review of its Diabetes Cell Pouch System™ Clinical Trial and Recommendation for Protoco

February 4, 2021 4 Février, 2021

Sernova Shares Accepted for Trading on the Electronic Trading Platform Xetra in Germany

February 4, 2021 4 Février, 2021

Sernova Upsizes Previously Announced Bought Deal Public Offering to C$20 Million

February 3, 2021 3 Février, 2021

Sernova’s Collaborator to Present Cell Pouch™ Thyroid Transplant Study Results at the American Association of Endocrine Surgeons 2021 Annual Meeti

February 3, 2021 3 Février, 2021

Sernova Corp. Announces C$10 Million Bought Deal Offering of Units

January 28, 2021 28 Janvier, 2021

Sernova Announces Collaboration Agreements with Multiple Pharmaceutical Industry Leaders

January 25, 2021 25 Janvier, 2021

Sernova Announces Warrants Exercise for Proceeds of $4.3 Million and Early Conversion of Debenture

January 21, 2021 21 Janvier, 2021

Sernova CEO to Present Regenerative Medicine Therapeutics Platform Update at the 2021 Cell & Gene Meeting on the Med

January 15, 2021 15 Janvier, 2021

Sernova Principal Investigator Presents Additional Positive Preliminary Safety and Efficacy Data from Ongoing U.S. Phase I/II Cell Pouch Clinical Tria

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Press Release Communiqué de presse - Mai 04, 2021 4 Mai, 2021

Sernova Announces the Nomination of Seasoned Pharma Executive Dr. Mohammad Azab to its Board of Directors


May 4, 2021 9:00 AM ET

LONDON, ONTARIO – May 4, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, today announced that seasoned pharmaceutical industry executive, Dr. Mohammad Azab, MB ChB, MSc, MBA, has been nominated by the Company to its Board of Directors.

“Dr. Azab’s extensive knowledge and experience in the pharmaceutical industry, as well as his many industry connections, make him an excellent fit for the Board of Sernova, particularly as the Company expands its clinical development programs for the treatment of chronic diseases such as diabetes, thyroid and rare diseases,” said Frank Holler, Chairman of the Board of Sernova. “Dr. Azab’s appointment further supports the Company’s near-term goal to bolster its Board of Directors, as well as Scientific Advisory and Global Advisory Boards, in line with our expanding research, development and business activities.”

Dr. Azab served as President and Chief Medical Officer of Astex Pharmaceuticals, Inc., a pharmaceutical company focused on the discovery and development of drugs in oncology and other disease indications. As of November 2020, upon retirement from his management role, Dr. Azab has served as the Chair of the Board of Directors for Astex Pharmaceuticals, Inc, which is now a wholly-owned subsidiary of Otsuka Pharmaceuticals. Previously, Dr. Azab served as President and CEO of Intradigm Corporation, a developer of siRNA cancer therapeutics. Prior to this, Dr. Azab served as Executive Vice President of Research and Development and Chief Medical Officer of QLT Inc., and in several leadership positions at AstraZeneca in the United Kingdom and Sanofi Pharmaceuticals in France. Dr. Azab holds his medical degree (MB ChB) from Cairo University and an MBA from the Richard Ivey School of Business, Western University, Ontario. He received post-graduate training and degrees in oncology research from the University of Paris-Sud and biostatistics from the University of Pierre et Marie Curie in Paris, France.

“I am excited to be nominated to join Sernova’s Board of Directors,” said Dr. Mohammad Azab. “I intend to bring my experience and additional perspectives to support Sernova and its management team as the company progresses it novel regenerative medicine therapeutic programs with the aim to provide a ‘functional cure’ for patients suffering from chronic diseases.”

Dr. Azab has more than 30 years of experience in clinical research, business management and led the global development of several drugs currently approved in oncology and other therapeutic areas. Currently, he also serves on the board of directors of NASDAQ listed companies, Xenon Pharmaceuticals Inc. (XENE), and Durect Corporation (DRRX).

ABOUT SERNOVA

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp.

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - Avril 28, 2021 28 Avril, 2021

Sernova KOL Event Highlights Novel Cell Therapy Approach for the Potential Treatment of Thyroid Disease


April 28, 2021 9:00 AM ET

LONDON, ONTARIO – April 28, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, announced today the highlights of its first virtual Key Opinion Leader (KOL) event on thyroid disease.

The KOL event featured a presentation by Dr. Sam Wiseman, a leading surgeon and internationally recognized expert in the management of thyroid and parathyroid disease. In his presentation, Dr. Wiseman discussed current treatment options and the potential for a novel cell therapy approach for the treatment of postoperative hypothyroidism using Sernova’s Cell Pouch™. The presentation was followed by a Q&A session with attendees.

“I’m very excited about this program because as surgeons, we will be able to offer our patients a treatment option that could allow for avoidance of postoperative hypothyroidism requiring life-long dependence on thyroid medication,” said Dr. Sam Wiseman. “Our preclinical study evaluating transplantation of human thyroid tissue into Sernova’s Cell Pouch has shown promising results. I believe this very exciting new approach represents a critical step towards an entirely new treatment option for post-thyroidectomy hypothyroidism."

Dr. Wiseman's presentation and the subsequent Q&A session are now available on Sernova's website at www.sernova.com and on Sernova’s social media channels.

ABOUT SERNOVA'S THYROID PROGRAM

Sernova's approach for treating postoperative hypothyroidism is to transplant a portion of the thyroid gland being removed into a pre-implanted vascularized Cell Pouch™ to recover thyroid function. In collaboration with Dr. Wiseman, preclinical proof of concept study conducted under a grant from the British Columbia Transplant Foundation is contributing to advancing Sernova's plans to conduct clinical assessment of this novel approach. Sernova's overall treatment goal is to preserve thyroid function, and improve patient quality of life, relative to current treatments.

Thyroidectomy is commonly performed for management of cancer, and for treatment of benign (non- cancerous) disease that includes nodules, goitre and hyperthyroidism. It is estimated that about 150,000 thyroidectomies are performed in the US annually, with most individuals undergoing thyroid surgery eventually being diagnosed with benign conditions. Patients undergoing total thyroidectomy, and many patients undergoing partial thyroidectomy, require life-long oral postoperative thyroid hormone replacement.

Post-surgical thyroid hormone replacement therapy, if monitored carefully, can be effective; however, some patients may suffer from deleterious side-effects including body weight gain, fatigue, and depression, with a resultant negative impact on quality of life, and significant costs to the healthcare system. We believe Sernova's development of new therapeutic strategies to treat post-surgical hypothyroidism has the potential of addressing an important unmet medical need.

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, stem cell-derived cells and tissues) to improve the treatment and quality of life of people with chronic metabolic diseases such as insulin-dependent diabetes, blood disorders including hemophilia, and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. For more information, please visit www.sernova.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp.

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - Avril 21, 2021 21 Avril, 2021

Sernova to Host a Virtual Key Opinion Leader Event on Thyroid Disease and the Potential for its Cell Therapy as a Novel Treatment Approach


April 21, 2021 9:00 AM ET

LONDON, ONTARIO – April 21, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, today announced that it will host a virtual Key Opinion Leader (KOL) event on thyroid disease, current treatment options and the potential of a novel cell therapy treatment approach for postoperative hypothyroidism. The event will take place on Tuesday April 27th, 2021, at 1:00 PM ET.

The event will feature a presentation from Dr. Sam Wiseman, a leading academic thyroid/parathyroid surgeon and internationally recognized expert in the management of thyroid and parathyroid disease.

"This KOL event will provide the unique opportunity for our investors to learn about thyroid disease, current treatments, and exciting advancements towards a novel cell therapy treatment approach aimed to provide a functional cure for patients suffering from postoperative hypothyroidism," said Dr. Philip Toleikis, President and CEO of Sernova. "Participants will also be able to enter into a conversation through a Q&A period with Dr. Wiseman, a prominent physician in the management of thyroid disease."

Dr. Wiseman's presentation will be made available on Sernova's website before the call. All questions to Dr. Wiseman, can be submitted to info@sernova.com prior to the call.

To register and access the Zoom link for this event, please click:

https://zoom.us/webinar/register/2016189463384/WN_LF8impNgRzqpbSMeLdeMww

Following the event, a recording will be available at www.sernova.com.

ABOUT SERNOVA'S HYPOTHYROID PROGRAM

Sernova's immediate approach in treating hypothyroid disease is to transplant healthy thyroid tissue following thyroidectomy (removal of the thyroid gland) into the pre-implanted vascularized Cell Pouch to recover the normal function of the thyroid gland. In collaboration with Dr. Wiseman, preclinical proof of concept work conducted under a grant from the British Columbia Transplant Foundation is contributing to advancing Sernova's plans to conduct clinical assessment of the Cell Pouch with transplanted thyroid tissue in patients suffering from hypothyroid disease. Sernova's treatment goal is to preserve thyroid function and improve patient quality of life relative to current treatments.

Thyroidectomy is commonly performed for cancer diagnosis or treatment and for treatment of benign (non- cancerous) disease that includes goiter and hyperthyroidism. It is estimated that about 150,000 thyroidectomies are performed in the US yearly, and the majority of individuals undergoing a thyroid operation are diagnosed with benign diseases after their procedure. Patients with Grave's disease and thyroid nodules undergoing total thyroidectomy, and many patients undergoing partial thyroidectomy require life-long thyroid hormone replacement.

Post-surgical thyroid hormone replacement therapy, if monitored carefully, can be effective; however, patients often suffer from deleterious side-effects including weight gain, depression, headaches, and cardiovascular disease, with resultant negative impact on quality of life, and significant costs to the healthcare system. We believe Sernova's development of new therapeutic strategies to overcome hypothyroidism has the potential to meet an important unmet medical need.

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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp.

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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



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Press Release Communiqué de presse - Avril 14, 2021 14 Avril, 2021

Sernova Appoints Internationally Renowned Thyroid Disease Expert Dr. Sam Wiseman to its Scientific Advisory Board


Sernova Expands Scientific Advisory Board Expertise for its Innovative Cell Therapy Therapeutic Applications in Endocrine Disorders Including Thyroid Disease

April 14, 2021 9:00 a.m. EST

LONDON, ONTARIO – April 14, 2021 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a leading clinical-stage company developing regenerative medicine therapeutic technologies for the long-term treatment of chronic diseases, today announced the appointment of Dr. Sam Wiseman to its Scientific Advisory Board (SAB).

“We are pleased to welcome Dr. Wiseman to Sernova’s Scientific Advisory Board,” said Dr. Philip Toleikis, President & CEO Sernova Corp. “Dr. Wiseman’s internationally recognized leadership in surgical treatment of thyroid and parathyroid disease and his forward-thinking interest in Sernova’s development of novel cell therapy-based applications will be a great asset as we seek to expand the clinical applications of our cell pouch platform.”

“The importance of the thyroid gland in controlling everyday bodily functions is often underappreciated. For people who have their thyroid gland removed, the solution relies on lifelong dependence on medication,” said Dr. Sam Wiseman. “Sernova’s cell therapy approach aims at providing a functional cure and improving the quality of life for these patients by allowing them to reduce or potentially eliminate daily thyroid hormone treatments. I am excited to join Sernova’s Scientific Advisory Board and bring my expertise to support them in the development of novel cell-based approaches for treatment of thyroid disease and potentially other endocrine diseases.”

Dr. Sam Wiseman is an academic thyroid/parathyroid surgeon and internationally recognized expert in the management of thyroid and parathyroid disease. He is Professor of Surgery in the Faculty of Medicine at the University of British Columbia (UBC) and is an attending surgeon at St. Paul’s Hospital in Vancouver. Dr. Wiseman attended medical school and completed residency training in General Surgery, at the University of Manitoba, obtaining a Fellowship in Surgery from the Royal College of Physicians and Surgeons of Canada in 2000. At Roswell Park Cancer Institute, he completed fellowships in Head & Neck Surgery, Surgical Oncology, and Oncology Research. Dr. Wiseman joined the staff at St. Paul's Hospital, and the University of British Columbia in 2003. He is also a Fellow of the American College of Surgeons, and a Consultant Surgical Oncologist at the British Columbia Cancer Agency (BCCA). He currently serves as the Research Head for the Department of Surgery at Providence Health Care and is the Chair of the Endocrine Tumour Group of the BCCA. He has authored more than 150 peer-reviewed scientific publications, numerous book chapters, and served as a senior editor of the medical textbook, Gray’s Surgical Anatomy. Dr. Wiseman’s research has been presented globally and he has received numerous awards and honours throughout his career that include a Michael Smith Foundation for Health Research Scholar Award and Canada’s Top 40 Under 40 Award. He is passionate about education and mentors and supervises many trainees, both clinically and in research. He is committed to providing new therapeutic options and treatment approaches for patients suffering from thyroid/parathyroid diseases with the ultimate goal of improving quality of life for these people.

ABOUT SERNOVA’S THYROID DISEASE PROGRAM

Sernova is utilizing its Cell Pouch Platform as a potential treatment for hypothyroid disease. Our approach is to transplant a patient’s own healthy thyroid tissue following thyroidectomy into the pre-implanted vascularized Cell Pouch to preserve the normal thyroid function and reduce or eliminate the need for lifelong daily thyroid replacement therapy. Sernova plans to conduct clinical assessments of the Cell Pouch with transplanted thyroid tissue in patients suffering from post-surgical hypothyroidism with the aim of preserving thyroid function and improving patient quality of life.

Thyroidectomy is commonly performed for cancer diagnosis or treatment and for treatment of benign (non- cancerous) disease that includes goiter and hyperthyroidism. It is estimated that about 150,000 thyroidectomies are performed in the US yearly. Patients with Grave’s disease and thyroid nodules undergoing total thyroidectomy, and many patients undergoing partial thyroidectomy require life-long thyroid hormone medication. Post-surgical thyroid hormone replacement therapy, if monitored carefully, can be effective; however, patients often suffer from deleterious side-effects including weight gain, depression, headaches, and cardiovascular disease, with resultant negative impact on quality of life, and significant costs to the healthcare system. The development of new therapeutic strategies to overcome hypothyroidism remains an important unmet medical need.

ABOUT SERNOVA CORP.

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

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - Avril 06, 2021 6 Avril, 2021

Sernova Announces Presentation at the American Diabetes Association 81st Scientific Sessions


April 6, 2021 9:00 am ET

LONDON, ONTARIO – April 6, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE/XETRA:PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that lead principal investigator Dr. Piotr Witkowski and the Clinical Trial Investigator Team for its US Phase I/II Type 1 Diabetes clinical trial will present data and observations from the ongoing study in a poster presentation at the upcoming American Diabetes Association’s (ADA) 81st Scientific Sessions to be held June 25 - 29, 2021.

The abstract will also be published online at the journal Diabetes® website and the presentation will be available to conference attendees on Friday, June 25, 2021.

Dr. Witkowski, Director, Pancreatic and Islet Transplant Program at the University of Chicago, is also scheduled to deliver a lecture titled “Islet Transplantation – Benefits and Shortcomings”, as part of the Clinical and Regulatory Hurdles Facing Islet Transplantation session on Monday, June 28, 2021, at 8:00 am ET.

Note: all information contained in the submitted abstract should be considered preliminary and subject to change until the study data and observations are fully presented at the ADA 81st Scientific Sessions and is subject to embargo until June 25, 2021, at 11:30 am ET.

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.

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

ABOUT THE ADA’s SCIENTIFIC SESSIONS The American Diabetes Association’s (ADA) 81st Scientific Sessions, the world’s largest scientific meeting focused on diabetes research, prevention, and care, will be held virtually June 25-29, 2021. Leading physicians, scientists, and health care professionals from around the world will unveil cutting-edge research, treatment recommendations and advances toward a cure for diabetes. Though the conference will be remote this year, attendees will receive exclusive access to nearly 2,000 original research presentations and take part in provocative and engaging exchanges with leading diabetes experts. Learn more and register at scientificsessions.diabetes.org and join the Scientific Sessions conversation on social media using #ADA2021.

FOR FURTHER INFORMATION, PLEASE CONTACT: Dominic Gray Sernova Corp. Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

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

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

Sernova Provides Positive Outlook Regarding the Development of Its Innovative Therapeutics Platform Technology for Chronic Diseases


Sernova is the first and only regenerative medicine therapeutics platform company to demonstrate a well- vascularized subcutaneous islet transplant technology achieving persistent islet graft function in diabetic patients

Sernova CEO hosting an investor conference call on March 18, 2021 at 11:00 am (EDT)

March 15, 2021 9:00 a.m. EDT

LONDON, ONTARIO – March 15, 2021 – Sernova Corp. (TSX-V:SVA) (FSE/XETRA:PSH) (OTCQB:SEOVF), a clinical-stage regenerative medicine company, today provides a Corporate Update and highlights recent key achievements in its pipeline, including its diabetes clinical program as well as other leading development programs.

“I am pleased that our clinical study based on our unique technology platform continues to contribute significant advancements to the field of regenerative medicine therapeutics. This is demonstrated by ongoing positive patient outcomes in safety, tolerability, and efficacy measures as we actively approach completion of full study enrolment. These advancements are occurring despite ongoing global uncertainty related to the COVID-19 pandemic. In this restrictive environment, Sernova also achieved significant advancements in our other therapeutic programs and in the development of technologies that we believe are building significant shareholder value and justified optimism for patients suffering from chronic diseases. As validation of our strategic approach, we are pleased with the recently completed institutional led bought deal financing of $23M. We are aggressively moving forward with all of our programs,” said Dr. Philip Toleikis, President and CEO of Sernova.

DIABETES : SERNOVA’S LEAD CLINICAL INDICATION

Sernova’s principal investigator in its US Phase I/II diabetes clinical trial, Dr. Piotr Witkowski, presented an update at the recent 2021 21st Winter Symposium of the American Society of Transplant Surgeons based on data from its current clinical trial: A Safety, Tolerability and Efficacy -Study of Sernova's Cell Pouch for Clinical Islet Transplantation.

Five of the 7 planned patients have been enrolled, implanted with the Cell Pouch, and are advancing through the transplantation phases of the study.

The following key findings to date have been noted in our trial patients:

• The Primary Safety Endpoint of the study continues to be met:

o the Cell Pouch, following implantation under the skin, shows consistent incorporation with vascularized tissue in multiple patients providing a suitable environment for the survival and function of insulin producing cells; and

o the implanted Cell Pouch and therapeutic cells continue to demonstrate a positive safety profile with no serious adverse events related to the Cell Pouch.

• The Secondary Efficacy measures continue to show clinical benefit in the most advanced treated patients including:

o absence of life-threatening hypoglycemic episodes;

o enduring presence of insulin produced by the Cell Pouch transplanted cells (measured by the biomarker C- peptide) in the bloodstream;

o reduction or elimination in the daily amount of insulin injected; and

o a reduction in HbA1c, a measure of long-term blood sugar control, which can lead to reduced diabetic complications.

Pre-screening of the final two patients is actively underway to complete study enrollment.

HEMOPHILIA A

Sernova as a member of the Horizon 2020 HemAcure Consortium (HemAcure Consortium) presented results of the Consortium’s research at the American Society of Gene and Cell Therapy. Importantly, the following highlights were presented:

• hemophilia A patients unable to express the required clotting factor VIII (FVIII) blood cells were isolated;

• the human FVIII gene responsible for the production of the missing required clotting factor was successfully inserted to achieve a therapeutic effect;

• the safety of these newly corrected cells and their ability to produce sufficient human clotting factor both in laboratory and in an initial preclinical animal model was confirmed.

o human FVIII blood levels reached up to 10%, which is considered sufficient to enable patients to regain their clotting ability;

o these corrected therapeutic cells in the Cell Pouch were successfully assessed in a preclinical model of hemophilia A showing long-term survival of cells;

o human FVIII was also detected in the bloodstream long-term (measured up to four months, the length of the study, following treatment); and

• data further confirmed functional clotting improvement in the blood at the four months time point where human FVIII corrected cells transplanted into the hemophilia A preclinical model restored the animals clotting activity to a therapeutic level within the Cell Pouch.

“These results demonstrate the success in developing a novel approach for the treatment of hemophilia A. These results continue to showcase Sernova’s Cell Pouch platform technologies for the treatment of multiple indications including rare diseases where a gene can be inserted into cells to produce any protein or factor required to treat disease,” added Toleikis. “We look forward to completing work to bring this and other novel therapies to human clinical testing as soon as practicable.”

HYPOTHYROID DISEASE

Sernova is developing a treatment for hypothyroid disease following complete or partial removal of the thyroid gland (thyroidectomy). To advance this platform technology, in collaboration with Dr. Sam Wiseman and in part funded by a Transplant Venture Grant awarded by the Transplant Research Foundation (TRF) of British Columbia, we are assessing healthy human thyroid tissue in preparation of a clinical program.

This new treatment approach allows patients to preserve their thyroid function following a thyroidectomy by transplanting healthy thyroid cells into Sernova’s Cell Pouch. Currently completed pre-clinical work is setting the stage for a regulatory submission for this second clinical program.

PLATFORM EXPANDING TECHNOLOGIES AND CORPORATE COLLABORATIONS

Sernova is acquiring and developing state of the art technologies. These involve both unique cell encapsulating technologies and gene editing technologies to reduce or eliminate the need for immunosuppression medications targeted to our specific cell therapy clinical applications within the Cell Pouch platform.

• Sernova has acquired all the patented technology and knowhow for a cellular local immune protection technology (Conformal Coating Technology)

o an exclusive worldwide license agreement with the University of Miami was signed, broadening this technology scope.

o Sernova intends on bringing the Cell Pouch platform technologies, which includes conformally coated therapeutic cell technology, to the clinic first for our diabetes donor and stem cell programs with the goal to improve current cell therapy treatment options.

• Sernova also entered into a collaboration agreement with AgeX Therapeutics to utilize their UniverCyte™ technology. The objective is to generate transplantable genetically engineered stem cells that are immune protected to treat diseases for use in Sernova’s Cell Pouch.

Sernova is in active collaborations with leading global pharmaceutical companies for multiple cell therapy clinical applications in combination with Sernova’s cell therapy therapeutic platform and technologies. The goal of these collaborations is to initiate co-development and/or licensing agreements, as well as the potential ability to market and distribute our regenerative medicine therapeutics worldwide.

Dr. Toleikis will participate in the first of a series of conference calls for shareholders to provide corporate updates and answer questions at 11:00 am (EDT) on March 18, 2021. A presentation will be made available on Sernova’s website before the call. All questions to Dr. Toleikis can be submitted to info@sernova.com prior to the call. To participate in this live conference call, please visit:

Meeting link: https://sernovacorp.my.webex.com/sernovacorp.my/j.php?MTID=md016888548d385cd4fea3878b73a9b5d Meeting number: 182 490 4245 Password: SVAMarch2021 (78262724 from phones and video systems)

Join by phone +1-416-915-6528 CANADA TOLL +1-415-655-0001 US TOLL Access code: 182 490 4245 (Global call-in numbers available upon request)

Following the conference call a recording will be available at www.sernova.com

ABOUT SERNOVA CORP.

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

For further information, please contact: Dominic Gray Sernova Corp Tel: (519) 858-5126 dominic.gray@sernova.com www.sernova.com

FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - Mars 01, 2021 1 Mars, 2021

SERNOVA ANNOUNCES CLOSING OF C$23 MILLION BOUGHT DEAL FINANCING INCLUDING FULL EXERCISE OF OVER-ALLOTMENT OPTION


LONDON, ONTARIO – March 1, 2021 – Sernova Corp. (“Sernova” or the “Company”) (TSX-V: SVA) (OTCQB: SEOVF) (Frankfurt/Xetra: PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that it has closed its previously announced bought deal financing of 16,700,000 units of the Company (the “Units”) at a price of C$1.20 per Unit (the “Issue Price”), and the exercise in full of the Over-Allotment Option of 2,505,000 Units at the Issue Price, for aggregate gross proceeds to the Company of approximately C$23,046,000 (the “Offering”).

Each Unit is comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share (as “Warrant Share”) at an exercise price of C$1.70 (the “Exercise Price”) until March 1, 2023. The expiry date of the Warrants may be accelerated by the Company if the daily volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the “Exchange”) is greater than C$3.05 for the preceding ten (10) consecutive trading days, at which time the Company may accelerate the expiry date of the Warrants by providing notice to the holders of Warrants or issuing a news release announcing such acceleration, whereupon the Warrants will expire not less than 30 days after the date of such notice or news release.

The Offering was conducted on a “bought deal” basis, led by Canaccord Genuity Corp. and Leede Jones Gable Inc. as co-lead underwriters (together, the “Underwriters). As consideration for their services in connection with the Offering, the Company paid to the Underwriters: (i) a cash commission of $1,452,981; (ii) a corporate finance fee of 384,100 Units; and (iii) 1,210,818 compensation options (the “Compensation Options”), where each Compensation Option entitles the holder thereof to purchase one Unit (a “Compensation Unit”) at the Issue Price until March 1, 2023. Each Compensation Unit is comprised of one Share and one Warrant exercisable into a Warrant Share at the Exercise Price.

The net proceeds of the Offering will be used to advance the Company’s clinical development programs, including its US Phase I/II Cell Pouch clinical trial in insulin-dependent diabetes, expand the Company’s research and development programs, including its local immune protection technologies for the Cell Pouch, as well as for working capital and general corporate purposes.

The Offering was completed (i) by way of a short form prospectus filed in each of the provinces of Canada, other than Quebec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions, (ii) on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and applicable U.S. state securities laws, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities under domestic or foreign securities laws. The securities referred to in this press release have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Sernova Corp.

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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp

T: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

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

Cautionary Statement Regarding Forward-Looking Information

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sernova’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the intended use of proceeds by the Company. Forward-looking information is based on reasonable assumptions that have been made by Sernova at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Examples of such risk factors include: credit; market (including equity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful development of its product candidates, and strategic plans and to attract, develop and retain key executives; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations governing the Company’s business; dependence on key suppliers; granting of permits and licenses; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, nonessential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; as well as those risk factors disclosed under the heading “Risk Factors” in the Company’s Annual Information Form (dated February 8, 2021) for the year ended October 31, 2020, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Sernova is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein.

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Press Release Communiqué de presse - Février 25, 2021 25 Février, 2021

Sernova Corp. Selected for the TSX Venture Stock Exchange’s 2021 Venture 50 List of Top Performing Listed Companies


February 25, 2021 9:00 a.m. EST

LONDON, ONTARIO - February 25, 2021 - Sernova Corp. (TSX-V:SVA) (OTCQB:SEOVF) (Frankfurt/Xetra:PSH), a clinical-stage company and leader in regenerative medicine therapeutics is pleased to announce that the TSX Venture Stock Exchange (TSX Venture) has recognized Sernova as a 2021 Venture 50 company, showcasing the top 50 performing listed companies.

“We are honoured to be chosen for the 2021 Venture 50 list and to be included amongst this distinguished group of industry leaders. We share this honour with our institutional and retail investors who are supporting our continued success and growth,” said Dr. Philip Toleikis, President and CEO of Sernova Corp. “This recognition is another validation of Sernova’s ongoing therapeutic advancements and builds upon what will be another very strong year as we continue to grow the company and build further shareholder value.”

The Venture 50 are the top ten companies listed on TSX Venture Exchange in each of five major industry sectors – mining, energy & energy services, clean technology & life sciences, diversified industries and technology – based on a ranking formula with equal weighting given to market cap growth, trading volume amount and share price appreciation. All data was as of December 31, 2020.

ABOUT SERNOVA’S CELL POUCH SYSTEM

The Cell Pouch system including the Cell Pouch, which is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long-term survival and function of therapeutic cells. The device is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells which then release proteins and hormones as required to treat disease. The Cell Pouch along with therapeutic cells has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin-producing cells in humans. In early assessments of its ongoing Phase I/II clinical trial, Sernova has shown presence of blood levels of c-peptide both during glucose tolerance tests as well as under fasting conditions. Clinical testing is ongoing at the University of Chicago.

ABOUT SERNOVA CORP

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

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - Février 24, 2021 24 Février, 2021

Sernova Obtains Final Prospectus Receipt for $20 Million Bought Deal


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

LONDON, ONTARIO – February 24, 2021 – Sernova Corp. ("Sernova" or the "Company") (TSX-V: SVA) (OTCQB: SEOVF) (Frankfurt/Xetra:PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce it has received a receipt for its final short form prospectus dated February 24, 2021 (the "Final Prospectus") in connection with its previously announced bought deal offering of 16,700,000 units of the Company (the "Units") at a price of C$1.20 per Unit for gross proceeds of approximately C$20,040,000 (the "Offering"). Canaccord Genuity Corp. and Leede Jones Gable Inc. are the co-lead underwriters (together, the "Underwriters") of the Offering.

The Company expects to close the Offering on or around March 1, 2021.

The Company has granted the Underwriters an option, exercisable in part or in whole at the Underwriter's sole discretion, at any time until 30 days following closing, to purchase up to that number of additional Units equal to 15% of the aggregate number of Units sold in the Offering.

The Final Prospectus was filed with the securities regulatory authorities in all provinces of Canada, except Quebec, and is available under the Company's SEDAR profile at www.sedar.com.

The securities referred to in this press release have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Sernova Corp.

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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

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

Cautionary Statement Regarding Forward-Looking Information

This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sernova's current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Offering, including the timing and ability of the Company to close the Offering, receipt of all regulatory and stock exchange approvals, the intended use of proceeds by the Company and the exercise of the Over-allotment Option by the Underwriters. Forward-looking information is based on reasonable assumptions that have been made by Sernova at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Examples of such risk factors include: the inability of the Company to close the Offering or to obtain all necessary Exchange and regulatory approvals; credit; market (including equity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful development of its product candidates, and strategic plans and to attract, develop and retain key executives; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations governing the Company’s business; dependence on key suppliers; granting of permits and licenses; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, nonessential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; as well as those risk factors disclosed under the heading “Risk and Uncertainties” in the Company’s annual MD&A (dated February 1, 2021) for the years ended October 31, 2020 and 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Sernova is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein.

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Press Release Communiqué de presse - Février 18, 2021 18 Février, 2021

Sernova Announces Second Annual Data Safety Monitoring Board Review of its Diabetes Cell Pouch System™ Clinical Trial and Recommendation for Protocol Continuation


Ongoing Safety of Sernova's Clinical Trial Confirmed

February 18, 2021 9:00 a.m. EST

LONDON, ONTARIO – February 18, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a clinical- stage company and leader in regenerative medicine therapeutics, is pleased to announce that the clinical trial independent Data Safety Monitoring Board ("DSMB") has completed the second planned annual review of the ongoing Safety, Tolerability and Efficacy Study of Sernova's Cell Pouch™ for Clinical Islet Transplantation Phase I/II clinical trial in patients with severe hypoglycemia unawareness and inability to produce their own insulin. The DSMB recommended that the Phase I/II clinical study should continue according to the study protocol and any related amendments. In their assessment, the DSMB did not raise any concerns regarding patient safety.

"We are pleased with the second annual independent DSMB review of our Phase I/II clinical trial," said Dr. Philip Toleikis, President & CEO Sernova Corp. "We thank the DSMB for its diligence, guidance and support as Sernova continues progressing the clinical trial."

The DSMB is an independent group of clinical research experts who review the accumulated data to permit a thorough evaluation of patient safety and to ensure the integrity of the study's data and progress towards completion.

ABOUT SERNOVA'S CLINICAL TRIAL

Sernova is conducting a Phase I/II non-randomized, unblinded, single-arm, company-sponsored trial to assess the safety and tolerability of islet transplantation into the company's patented Cell Pouch in diabetic subjects with hypoglycemia unawareness and an inability to produce their own insulin. The secondary objective is to assess efficacy through a series of defined measures. Eligible subjects are implanted with Cell Pouches. Following development of vascularized tissue chambers within the Cell Pouch, subjects are then stabilized on immunosuppression and a dose of purified islets, under strict release criteria, transplanted into the Cell Pouch. A sentinel pouch is removed for an early assessment of the islet transplant. Subjects are followed for additional safety and efficacy measures for approximately six months. At this point, a decision will be made with regards to the transplant of a second islet dose with subsequent safety and efficacy follow-up. Following this period, eligible patients may be administered a single dose of islets through the portal vein. Patients will be then further followed for one year to assess longer-term safety and efficacy. This study is supported in part by funding from JDRF, the leading global organization funding type 1 diabetes (T1D) research.

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

ABOUT SERNOVA'S CELL POUCH SYSTEM

The Cell Pouch system including the Cell Pouch, which is a novel, proprietary, scalable, implantable macro- encapsulation device solution designed for the long- term survival and function of therapeutic cells. The device is designed to incorporate with tissue, forming highly vascularized tissue chambers for the transplantation and function of therapeutic cells which then release proteins and hormones as required to treat disease. The Cell Pouch along with therapeutic cells has been shown to provide long-term safety and efficacy in small and large animal models of diabetes and has been proven to provide a biologically compatible environment for insulin- producing cells in humans. In early assessments of its ongoing Phase I/II clinical trial, Sernova has shown presence of blood levels of c-peptide both during glucose tolerance tests as well as under fasting conditions. Clinical testing is ongoing at the University of Chicago.

ABOUT SERNOVA CORP

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

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - Février 04, 2021 4 Février, 2021

Sernova Shares Accepted for Trading on the Electronic Trading Platform Xetra in Germany


February 4, 2021 9:00 a.m. EST

LONDON, ONTARIO – February 4, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce the start of trading of Sernova shares on Xetra, the electronic trading system of Deutsche Börse AG in Germany (German Securities Identification Number (WKN): A0LBCR, International Securities Identification Number (ISIN): CA81732W1041, German Ticker-Symbol: PSH).

Xetra is an electronic trading platform operated by the Frankfurt Stock Exchange. It offers trading in stocks, funds, bonds, warrants, and commodities contracts. Launched in 1997, the majority of stock market transactions in Germany are through the Xetra trading venue: approximately 90 percent of all trading in shares across all German exchanges is now conducted through Xetra making it the largest of Germany’s stock exchanges. Over 200 trading participants from 16 European countries, United Arab Emirates and Hong Kong are connected via Xetra servers.

Xetra is the first and primary choice for institutional investors with its significantly higher liquidity and narrower price spreads. Given the high turnover (liquidity) on the Xetra trading venue, orders for securities are executed swiftly and at prices in line with the market. Moreover, this principle is supported by Designated Sponsors who post binding purchase and selling prices (quotes) continuously and thus ensure additional liquidity and fair prices, making it the first choice for institutional investors. mwb Wertpapierhandelsbank AG will act as Designated Sponsor (active market maker) to handle the trading of Sernova’s shares on Xetra with immediate effect and therefore contribute to increased trading liquidity.

mwb fairtrade Wertpapierhandelsbank AG (www.mwbfairtrade.com) is a securities service provider licensed by the German Federal Financial Supervisory Authority (BaFin) with branches near Munich, Hamburg, Hanover, Frankfurt as well as Berlin. Founded in 1993 and active in two business divisions: Securities Trading and Corporates & Markets, mwb manages approximately 40,000 order books for German and international securities as well as 89 Designated Sponsors mandates making mwb one of the largest order book managers in Germany.

“mwb has developed in-depth knowledge on enabling Xetra trading for overseas companies. We are happy to support Sernova with the rollout of their exciting equity story and look forward to enhance Euro-based trading possibilities for their institutional and retail investor base in Europe,” said Sascha Guenon, Head of Designated Sponsoring and Corporate Broking at mwb.

“We are experiencing a significant increase of interest from institutional investors in Europe, especially in German-speaking countries, and want to provide them with a more efficient way to trade our shares," commented Dr. Philip Toleikis, President and CEO of Sernova. "This is an important step to increase the percentage of long-term oriented institutional investors within our group of shareholders who understand the potential of our innovative platform technologies in the regenerative medicine field as well as the valuation gap with our competitors. mwb has a strong network of biotech investors and we are looking forward to presenting the potential of Sernova’s regenerative medicine platform to them.”

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

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - Février 04, 2021 4 Février, 2021

Sernova Upsizes Previously Announced Bought Deal Public Offering to C$20 Million


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES LONDON, ONTARIO – February 4, 2021 – Sernova Corp. (“Sernova” or the “Company”) (TSX-V: SVA) (OTCQB: SEOVF)(FSE: PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that it has entered into an amendment (the “Amendment”) to its previously announced agreement with Canaccord Genuity Corp. and Leede Jones Gable Inc., as co-lead underwriters (together, the “Underwriters”), pursuant to which the Underwriters have agreed to increase the size of the previously announced bought deal financing. Pursuant to the Amendment, the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 16,700,000 units of the Company (the “Units”) at a price of C$1.20 per Unit for gross proceeds to the Company of approximately C$20,040,000 (the “Offering”).

The Company has granted the Underwriters an option (the “Over-allotment Option”), exercisable in part or in whole at the Underwriters’ discretion, at any time until thirty (30) days following the Closing Date, to purchase up to the number of additional Units equal to 15% of the aggregate number of Units sold in the Offering to cover over-allotments, if any.

All other terms of the Offering remain consistent with the Company’s previous announcement on February 3, 2021.

The net proceeds of the Offering will be used to advance the Company’s clinical development program, including its US Phase I/II Cell Pouch clinical trial, expand Sernova’s research and development programs, including our local immune protection technologies for the Cell Pouch, as well as for working capital and general corporate purposes.

The Offering will be completed (i) by way of a short form prospectus to be filed in those provinces of Canada other than Quebec as the Underwriters and the Company may designate pursuant to National Instrument 44- 101 – Short Form Prospectus Distributions, (ii) on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and applicable U.S. state securities laws, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities under domestic or foreign securities laws.

The Offering is expected to close on February 24, 2021 and is subject to certain customary conditions including the approval of the TSX Venture Exchange and applicable securities regulatory authorities.

The securities referred to in this press release have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Sernova Corp.

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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp

T: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

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

Cautionary Statement Regarding Forward-Looking Information

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sernova’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Offering, including the timing and ability of the Company to close the Offering, receipt of all regulatory and stock exchange approvals, the intended use of proceeds by the Company and the exercise of the Over-allotment Option by the Underwriters. Forward-looking information is based on reasonable assumptions that have been made by Sernova at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Examples of such risk factors include: the inability of the Company to close the Offering or to obtain all necessary Exchange and regulatory approvals; credit; market (including equity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful development of its product candidates, and strategic plans and to attract, develop and retain key executives; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations governing the Company’s business; dependence on key suppliers; granting of permits and licenses; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, nonessential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; as well as those risk factors disclosed under the heading “Risk and Uncertainties” in the Company’s annual MD&A (dated February 1, 2021) for the years ended October 31, 2020 and 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Sernova is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein.

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Press Release Communiqué de presse - Février 03, 2021 3 Février, 2021

Sernova’s Collaborator to Present Cell Pouch™ Thyroid Transplant Study Results at the American Association of Endocrine Surgeons 2021 Annual Meeting


February 3, 2021 - 9:00 a.m. EST

LONDON, ONTARIO – February 3, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that Dr. Sam Wiseman, BSc, MD, FRCSC, FACS of the University of British Columbia and co-investigator of Sernova’s Cell Pouch Hypothyroid treatment program will present preclinical data in an oral presentation at the American Association of Endocrine Surgeons (AAES) 2021 Annual Meeting taking place April 25-27, 2021. Dr. Sam Wiseman, Professor, Richard J. Finley Scholar, and Director of Research at the Department of Surgery of Providence Health Care also serves as Chair of the Endocrine Tumor Group for the Surgical Oncology Network in Vancouver British Columbia.

Dr. Wiseman’s abstract was selected amongst over 140 abstracts for an Oral Podium Presentation and a resulting journal article will be peer-reviewed for publication consideration in the journal Surgery.

For more information on the American Association of Endocrine Surgeons and the 41st Annual Meeting, visit https://meeting.endocrinesurgery.org/.

ABOUT SERNOVA’S HYPOTHYROID PROGRAM

Sernova’s initial approach in treating hypothyroid disease is to transplant a patient’s own healthy thyroid tissue following thyroidectomy into the pre-implanted vascularized Cell Pouch to recover the normal function of the thyroid gland. In collaboration with Dr. Wiseman, preclinical proof of concept work is being conducted under a grant from the British Columbia Transplant Foundation. Following successful completion of preclinical studies, Sernova plans to conduct clinical assessments of the Cell Pouch with transplanted thyroid tissue in patients suffering from hypothyroid disease with the aim to preserve thyroid function and improve patient quality of life.

Thyroidectomy is commonly performed for cancer diagnosis or treatment and for treatment of benign (non- cancerous) disease that includes goiter and hyperthyroidism. It is estimated that about 150,000 thyroidectomies are performed in the US yearly, and the majority of individuals undergoing a thyroid operation are diagnosed with benign diseases after their procedure. Patients with Grave’s disease and thyroid nodules undergoing total thyroidectomy, and many patients undergoing partial thyroidectomy require life-long thyroid hormone medication. Post-surgical thyroid hormone replacement therapy, if monitored carefully, can be effective; however, patients often suffer from deleterious side-effects including weight gain, depression, headaches, and cardiovascular disease, with resultant negative impact on quality of life, and significant costs to the healthcare system. The development of new therapeutic strategies to overcome hypothyroidism remains an important unmet medical need.

ABOUT SERNOVA CORP.

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

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

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Press Release Communiqué de presse - Février 03, 2021 3 Février, 2021

Sernova Corp. Announces C$10 Million Bought Deal Offering of Units


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

LONDON, ONTARIO – February 3, 2021 – Sernova Corp. (“Sernova” or the “Company”) (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a leading clinical-stage regenerative medicine therapeutics company, is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and Leede Jones Gable Inc., as the co-lead underwriters (together, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 8,350,000 units of the Company (the “Units”) at a price of C$1.20 per Unit (the “Issue Price”) for gross proceeds to the Company of approximately C$10,020,000 (the “Offering”).

Each Unit will consist of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $1.70 (the “Exercise Price”) at any time up to 24 months following Closing Date (as defined below). The expiry date of the Warrants may be accelerated by the Company at any time if the volume weighted average price of the Common Shares on the TSX Venture Exchange (the “Exchange”) is greater than $3.05 for any ten (10) consecutive trading days, at which time the Company may accelerate the expiry date of the Warrants by providing notice to holders of Warrants, whereupon the Warrants will expire not less than 30 days after the date of such notice.

The Company has granted the Underwriters an option (the “Over-Allotment Option”), exercisable in part or in whole at the Underwriters’ discretion, at any time until thirty (30) days following the Closing Date, to purchase up to the number of additional Units equal to 15% of the aggregate number of Units sold in the Offering to cover over-allotments, if any.

The Offering will be completed (i) by way of a short form prospectus to be filed in those provinces of Canada other than Quebec as the Underwriters and the Company may designate pursuant to National Instrument 44- 101 – Short Form Prospectus Distributions, (ii) on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and applicable U.S. state securities laws, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities under domestic or foreign securities laws.

The net proceeds of the Offering will be used to advance the Company’s clinical development program, including its US Phase I/II Cell Pouch clinical trial, expand Sernova’s research and development programs, including our local immune protection technologies for the Cell Pouch, as well as for working capital and general corporate purposes.

The Underwriters shall be paid (i) a commission (the “Cash Commission”) equal to 6.5% of the aggregate gross proceeds of the Offering payable in cash or Units, or any combination thereof, at the option of the Underwriters and (ii) warrants (the “Underwriters’ Warrants”) exercisable at any time up to 24 months following Closing Date to acquire the number of Units equal to 6.5% of the aggregate number of Units issued pursuant to the Offering, at an exercise price equal to the Issue Price, other than up to C$500,000 of Units subscribed for by investors introduced to the Offering by the Company, in which case both the Cash Commission and the Underwriters’ Warrants will be reduced to 2.0%. Additionally, the Company shall pay the Underwriter’s a corporate finance fee payable in Units equal to 2.0% of the aggregate number of Units issued pursuant to the Offering.

The closing of the Offering is expected to occur on or about February 24, 2021 (the “Closing Date”) and is subject to the Company receiving all necessary regulatory approvals, including the approval of the Exchange.

The securities referred to in this press release have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Sernova Corp.

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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp

T: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

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

Cautionary Statement Regarding Forward-Looking Information

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sernova’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Offering, including the timing and ability of the Company to close the Offering, receipt of all regulatory and stock exchange approvals, the exercise of various convertible securities and the intended use of proceeds by the Company. Forward-looking information is based on reasonable assumptions that have been made by Sernova at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Examples of such risk factors include: the inability of the Company to close the Offering or to obtain all necessary Exchange and regulatory approvals; credit; market (including equity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful development of its product candidates, and strategic plans and to attract, develop and retain key executives; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations governing the Company’s business; dependence on key suppliers; granting of permits and licenses; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, nonessential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; as well as those risk factors disclosed under the heading “Risk and Uncertainties” in the Company’s annual MD&A (dated February 1, 2021) for the years ended October 31, 2020 and 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Sernova is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein.

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Press Release Communiqué de presse - Janvier 28, 2021 28 Janvier, 2021

Sernova Announces Collaboration Agreements with Multiple Pharmaceutical Industry Leaders


Sernova’s Cell Pouch platform and cell therapy expertise being used in multiple collaborations with global pharmaceutical companies

January 28, 2021 8:05 a.m. EST

LONDON, ONTARIO – January 28, 2021 – Sernova Corp. (TSX-V: SVA)(OTCQB: SEOVF)(FSE: PSH), a leading clinical-stage regenerative medicine therapeutics company, announced today that it has entered into multiple research collaboration agreements with global pharmaceutical companies.

Sernova is deploying its in-house cell therapy expertise and patent-protected Cell Pouch technologies in combination with proprietary therapeutic cell assets designated by the pharmaceutical collaborators. Further details of these agreements will be kept confidential for strategic reasons. The collaborators have requested anonymity.

“The research collaborations follow the ongoing clinical success of Sernova’s Cell Pouch technologies in diabetes, and reflect the value and evolving recognition of our technologies and cell therapy platform,” said Dr. Philip Toleikis, President and CEO of Sernova Corp. “These important partnerships with leaders in the pharma industry build upon Sernova’s business strategy to develop a portfolio of products to realize the full potential of Sernova’s regenerative medicine platform by extending and broadening its application to new therapeutic areas and modalities. Sernova’s goal is to provide people with a functional cure for multiple chronic and rare diseases.”

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.

ABOUT SERNOVA CORP.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp.

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - Janvier 25, 2021 25 Janvier, 2021

Sernova Announces Warrants Exercise for Proceeds of $4.3 Million and Early Conversion of Debenture


LONDON, ONTARIO – January 25, 2021 – Sernova Corp. (TSX-V:SVA)(OTCQB:SEOVF)(FSE:PSH), a leading clinical-stage regenerative medicine therapeutics company is pleased to announce that in recent weeks it has received gross proceeds of $4.3 million pursuant to the exercise of more than 14 million warrants. Sernova intends to use the proceeds of the warrants exercised to support the Company’s clinical diabetes programs including its US Phase I/II diabetes clinical trial, diabetes stem cell-derived technologies and to also accelerate treatments for hypothyroid disease and hemophilia A.

The exercised warrants were originally issued in connection to public offerings of units completed by Sernova in July 2018 and September 2019. In October 2020, the 2018 warrants were subsequently extended by the Company to February 2021.

Sernova also announces the early conversion by the holder of its outstanding $1 million convertible debenture, due December 2022, into equity of the Company. The conversion will save the Company almost two years of interest costs.

“I am extremely pleased to see these warrants being exercised and the continued support from our shareholders," commented Dr. Philip Toleikis, President and CEO of Sernova Corp. "The early conversion of the debenture coupled with the warrants proceeds strengthens our balance sheet and cash position as we continue our ongoing efforts to create shareholder value."

Warrants holders interested in exercising their warrants may contact the Company (see the contact information provided below). The terms and conditions of the warrants are set out in the warrants certificate.

ABOUT SERNOVA CORP.

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

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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

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Press Release Communiqué de presse - Janvier 21, 2021 21 Janvier, 2021

Sernova CEO to Present Regenerative Medicine Therapeutics Platform Update at the 2021 Cell & Gene Meeting on the Med


January 21, 2021 9:00 a.m. EST

LONDON, ONTARIO – January 21, 2021 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical- stage regenerative medicine company announced today that Dr. Philip Toleikis, President and CEO has been invited to participate at the Cell & Gene Virtual Meeting on the Med, and available on-demand to attendees beginning Thursday, April 6 to 9. Dr. Toleikis will deliver a corporate update on Sernova’s regenerative medicine therapeutics platform including our US clinical cell therapy diabetes program as part of the 2021 Company Presentations at the Cell & Gene Meeting on the Med.

Sernova’s Corporate Update presentation will be available on-demand to attendees of the Virtual Cell & Gene Meeting on the Med throughout the conference. For more details on Sernova’s presentation, please visit www.meetingonthemed.com.

ABOUT SERNOVA CORP.

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

ABOUT SERNOVA’S CELL POUCH™ SYSTEM

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dominic Gray

Sernova Corp.

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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

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

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


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

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

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

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

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

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

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

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

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

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

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

• Absence of life threatening severe hypoglycemic events;

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

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

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

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

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

ABOUT SERNOVA’S CLINICAL TRIAL

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

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

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

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

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

ABOUT SERNOVA CORP.

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

For further information contact:

Dominic Gray

Sernova Corp

Tel: (519) 858-5126

dominic.gray@sernova.com

www.sernova.com

FORWARD-LOOKING INFORMATION

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