Press release Communiqué de presse

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Press release Communiqué de presse

March 14, 2023 14 March, 2023

Sernova Announces Upcoming Podium Presentation of iPSC and Cell Pouch™ Combination Treatment for Type One Diabetes at the 4th IPITA / HSCI / JDRF Summit

- First pre-clinical data presentation of Sernova’s Cell Pouch with Evotec’s iPSC derived islet-like cluster technology for type 1 diabetes (T1D)

LONDON, Ontario – March 14, 2023 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical- stage company and leader in cell therapeutics, announced today that an abstract has been selected for an oral presentation at the 4th International Pancreas and Islet Transplant Association (IPITA) / Harvard Stem Cell Institute (HSCI) / Juvenile Diabetes Research Fund (JDRF) Summit, to be held from April 24-25, 2023 in Cambridge, Massachusetts. The presentation will be given by Matthias Austen, PhD, SVP Cell Therapy at Evotec SE (FSE:EVT; NASDAQ:EVO).

Abstract Title: Manufacturing of optimized human islet-like clusters (ILCs) from iPSCs and functional testing of an ILC + Cell Pouch™ combination in vivo

Authors: Audrey Holtzinger, Simone Strauch, Thomas Reinbothe, Claudia Wrzos, Andreas Scheel, Cord Dohrmann, Arash Memarnejadian, Pardis Pakshir, Philip M. Toleikis, Matthias Austen

Date / Time: Monday, April 24, 2023 from 2:45pm-4:25pm ET

Evotec has developed a scalable and comprehensive process for GMP manufacturing of ILCs from a human GMP-grade induced pluripotent stem cell (iPSC) line for cell therapy treatment of insulin-dependent diabetes. In 2022, Evotec entered into a collaboration with Sernova Corp., which has developed the proprietary Cell Pouch System™. Following implantation, the Cell Pouch develops a vascularized environment to support engraftment and long-term function of therapeutic cells.

Sernova will disclose additional information about the presentation at the time of the conference.

ABOUT SERNOVA CORP. AND THE CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. On implantation, the Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago. Sernova is also advancing a proprietary technology in collaboration with the University of Miami to shield therapeutic cells from immune system attack with the goal to eliminate the need for chronic, systemic immunosuppression. In May 2022, Sernova and Evotec entered into a global strategic partnership to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova continues to progress two additional development programs that utilize its Cell Pouch System: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Corporate Christopher Barnes VP, Investor Relations Sernova Corp. christopher.barnes@sernova.com Tel: 519-902-7923 www.sernova.com

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

Media Elizabeth Miller, M.D. LifeSci Communications emiller@lifescicomms.com Tel: 646-791-9705



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.