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Press release Communiqué de presse

December 2, 2021 2 December, 2021

Sernova Announces Appointment of Executive Chair to Complement its Management Team

LONDON, ON – December 2, 2021 -- Sernova Corp. (TSX-V:SVA)(FSE/XETRA:PSH)(OTCQB:SEOVF), a leading clinical-stage company focused on regenerative medicine therapeutics, is pleased to announce that Frank Holler, member and chairman of the Sernova board of directors, will assume a new role of Executive Chair in order to augment the current leadership team and further support the Company’s evolving corporate and R&D activities and objectives.

“Frank Holler is an experienced veteran in the biotech industry and I look forward to leveraging his expertise and experience to build on our momentum at the forefront of the regenerative therapeutics space,” said Dr. Philip Toleikis, President & CEO.

Mr. Holler added, “With our success to date, the Sernova Board of Directors believes we are at a critical juncture in the Company’s maturation as we manage the growth of our clinical and pre-clinical programs, progress our multiple partnering relationships and leverage capital markets opportunities. With these additional responsibilities, I am thrilled to lend executive expertise to our current management and look forward to working even more closely with Dr. Philip Toleikis, and his leadership team to achieve key corporate objectives focused on the creation and realization of additional shareholder value.”

Mr. Holler is presently President & CEO of Ponderosa Capital Inc. and has previously held Chair or CEO roles at Lions Capital Corp., Xenon Pharmaceuticals, Inc. and ID Biomedical Corporation. He was also a founding director of Angiotech Pharmaceuticals, Inc. Prior to his experiences in biotechnology and healthcare, Mr. Holler was an investment banker with Merrill Lynch Canada and Wood Gundy, Inc. (now CIBC World Markets).

ABOUT SERNOVA

Sernova is developing regenerative medicine therapeutic technologies using an implantable 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:

Investors: Corey Davis, Ph.D. LifeScience Advisors, LLC cdavis@lifesciadvisors.com 212-915-2577

Corporate: Sernova Corp. 519-858-5126 investorrelations@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, including results of clinical trials, 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. 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.