Ms. Cynthia Pussinen reports

SERNOVA WELCOMES DR. BERND MUEHLENWEG AS EVOTEC'S NOMINEE FOR ITS BOARD OF DIRECTORS

Sernova Corp. has appointed Dr. Bernd Muehlenweg, senior vice-president of global business development at Evotec SE, to its board of directors. Evotec recently shared that, due to the impending departure of Dr. Daniel Mahony, its current Sernova board delegate, who is leaving to pursue a new professional undertaking, it would be nominating a new board representative. With heartfelt gratitude, Sernova wishes Dr. Mahony all the very best in his future endeavours.

Dr. Muehlenweg will join Sernova's board of directors, effective immediately. Sernova expects the brief period of overlap with Dr. Mahony will assist in the transition bringing Dr. Muehlenweg rapidly up to speed on Sernova's operational and strategic matters.

Dr. Muehlenweg's work experience includes various senior leadership positions in the biotechnology and pharmaceutical industry with a concentration on business development and alliance management roles. At Evotec, he leads the company's partnering and outlicensing efforts in Evotec's focus areas, including iPSC-based (induced pluripotent stem cell) cell therapy, PanOmics-driven drug discovery, oncology, immunology and inflammation, infectious diseases, and predictive safety and enabling technologies.

Prior to joining Evotec, he held the position of chief business officer and served on the executive board of Nanobiotix, a French clinical-stage oncology company. Dr. Muehlenweg co-founded Panoptes Pharma GmbH, an Austrian biotechnology company focused on developing therapies for eye diseases, which was later acquired by Eyegate Pharmaceuticals. Additionally, at Wilex AG, he played a key role in the company's growth and expansion. He began his career as a group leader at the Technical University of Munich, Germany.

Dr. Muehlenweg graduated with a PhD from the oncology research group at the department of gynecology at the Technical University of Munich in 2000. He further attended management classes at the Switzerland-based St. Galler Business School in 2006.

"Sernova's Cell Pouch and Evotec's iPSC-derived islet-like clusters are a powerful combination, offering a potential functional cure for Type 1 diabetes (T1D) in the not-too-distant future. My personal goal is to foster sustainable, fruitful and durable partnerships to advance scientific innovations into approved treatments. I have tremendous confidence that the strategic collaboration between Evotec and Sernova will provide a strong foundation to potentially achieve this objective," said Dr. Muehlenweg, Sernova's new board director.

"At Sernova, we will continue to pursue opportunities to improve the lives of patients with unmet needs while building long-term value for shareholders in multiple ways. I cannot stress enough the importance of the Cell Pouch system as the anchor for our ongoing T1D trial. In addition to its long-term payload survival, containment and retrievability characteristics, we believe that the Cell Pouch is a key differentiator in delivering clinically meaningful outcomes, including insulin independence and normalized HbA1c counts, amongst others, to several patients in our ongoing phase 1/2 trial. We are pleased to welcome Bernd as he joins us on our mission to build a future where chronic conditions are no longer insurmountable obstacles," said Cynthia Pussinen, chief executive officer of Sernova.

About Sernova Corp. and its Cell Pouch system platform for cell therapy

Sernova 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 technology, 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 a continuing phase 1/2 clinical study at the University of Chicago.

Sernova partnered with Evotec to develop an implantable off-the-shelf iPSC-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's development pipeline that uses its Cell Pouch system also includes a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral factor VIII gene therapy for hemophilia A.

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