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Press release Communiqué de presse

February 3, 2021 3 February, 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