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Press release Communiqué de presse

October 11, 2024 11 October, 2024

Sernova Announces Key New Executive Appointments

Experienced leadership team positions company to advance Cell Pouch™ bio-hybrid organ programs.

LONDON, Ontario; BOSTON, Massachusetts - October 11, 2024 – Sernova Corp. (TSX: SVA) (OTCQB: SEOVF) (FSE/XETRA: PSH), a leading regenerative medicine company currently executing a phase 1/2 clinical study with its’ Cell Pouch™ bio-hybrid organ in type 1 diabetes is pleased to announce key new appointments to its executive leadership team. This strategic move reflects Sernova's commitment to enhancing communication with stakeholders and corporate governance, as the company drives its’ innovative research and ongoing clinical development programs.

James Parsons has been named Chief Financial Officer (CFO), bringing over 20 years of financial management experience to the team. With a comprehensive track record in biotech corporate finance, governance and strategic planning, Mr. Parsons will lead Sernova's finance team and ensure the company’s financial strength to support expanding objectives.

Joining as Chief Communications Officer (CCO) is Marylyn Rigby, an accomplished professional with a rich history in branding, corporate communications and biotech and health tech marketing. Ms. Rigby will direct Sernova’s comprehensive communication strategies, enhancing marketing initiatives, expanding media relationships, and elevating investor and stakeholder engagement, pivotal for bolstering Sernova's brand identity and outreach.

David Burke assumes the role of Vice President of Investor Relations, tasked with fortifying connections with the investment community. Bringing extensive experience in investor communications and financial markets, Mr. Burke will ensure transparent, timely, and effective dialogue with current and prospective investors, building trust and fostering long-term support for Sernova’s visionary projects.

Jonathan Rigby, CEO of Sernova Corp., expressed his enthusiasm for the appointments, stating, "We are thrilled to welcome James, Marylyn, and David to our leadership team. Each brings a unique set of skills and deep industry knowledge that will be vital as we continue to advance our pipeline and expand our corporate presence. Their expertise aligns perfectly with our mission to Give Patients Their Lives Back through our groundbreaking therapies."

These key appointments exemplify a step change in Sernova’s unwavering commitment to excellence and innovation as it continues to drive forward novel treatments that aim to transform how chronic conditions are treated in order to improve the lives of patients, their families, and their caregivers.

ABOUT SERNOVA CORP

Sernova Corp. is a clinical-stage company developing regenerative medicine therapeutics combining its Cell Pouch™ with human donor cells or stem cells to create a bio-hybrid organ. A bio-hybrid organ refers to a medical device designed to be implanted into the human body, where it integrates with existing living tissue to replicate or enhance the function of a natural organ, essentially aiming to restore normal organ function by combining living cells with non-living materials to mimic the properties of the original organ and seamlessly interact with surrounding tissues. This innovative approach aims to deliver a potentially revolutionary treatment for patients with chronic diseases, initially focusing on type 1 diabetes and thyroid disorders.

FOR FURTHER INFORMATION, PLEASE CONTACT:

David Burke VP, Investor Relations (917) 618-2651 Email: David.Burke@sernova.com Website: Sernova.com

The TSX has not reviewed this news release and does not accept responsibility for the accuracy or adequacy of this news release. FORWARD-LOOKING INFORMATION This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements in this press release include our expectations of the positive impact our management changes will have on our operations. With respect to the forward-looking statements contained in this press release, Sernova has made numerous assumptions regarding, among other things: the company’s ability to secure additional financing on reasonable terms, or at all; and the ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch, including the timing and results of those trials. A more complete discussion of the risks and uncertainties facing Sernova appears in Sernova’s Annual Information Form for the year ended October 31, 2023 filed with Canadian securities authorities and available at www.sedarplus.ca, as updated by Sernova’s continuous disclosure filings, which are available at www.sedarplus.ca. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and Sernova disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.