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Press release Communiqué de presse

September 24, 2020 24 September, 2020

Sernova to Present at Virtual BIO Investor Forum

Sernova to deliver corporate update with focus on value-driving events: technology acquisition, licensing and research collaboration

September 24, 2020 9:00 a.m. EDT

LONDON, ONTARIO – September 24, 2020 – Sernova Corp. (TSX-V: SVA) (OTCQB: SEOVF) (FSE: PSH), a clinical-stage regenerative medicine company announced today that Dr. Philip Toleikis, President and CEO will provide a corporate update as part of the Company Presentations at the upcoming BIO Investor Forum Digital international biotech investor conference from October 13-15, 2000. Dr. Toleikis will also be engaged with the BIO One-on-One Partnering meetings.

“Amidst the COVID-19 pandemic, we are leveraging the proliferation of the virtual conference format. This virtual conference will enable us to increase the awareness level amongst an expanded base of potential investors and partnering prospects about Sernova’s significant advancements, including first time diabetes clinical trial findings, a technology acquisition for our cell therapy therapeutics platform and local immune protection technology licensing and research collaboration arrangements. The BIO One-on-One Partnering meeting sessions will also enable us to continue discussions and further evaluate opportunities,” said Dr. Philip Toleikis, President and CEO of Sernova.

Sernova’s presentation will be available on-demand to attendees of the BIO Investor Forum Digital conference. For more details on Sernova’s presentation, please visit https://www.bio.org/events/bio-investor-forum- digital/company-presentations.

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, hormones, or other factors as required to treat disease. Sernova is currently conducting a Phase I/II study at the University of Chicago and has demonstrated encouraging early safety and efficacy indicators. The Cell Pouch, in combination with therapeutic cells/tissues, has been shown to provide long-term safety and efficacy in preclinical models of diabetes, hemophilia A and other indications supporting our therapeutics platform.

For further information 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.