Mr. David Burke reports

SERNOVA APPOINTS JONATHAN RIGBY AS INTERIM CHAIR

Sernova Biotherapeutics Inc. has appointed its chief executive officer, Jonathan Rigby, as interim chair of the board of directors. Mr. Rigby will assume the chair role, effective immediately, until a new independent director is appointed to serve as the next chair of the board.

Sernova continues to advance financing discussions as previously disclosed with GoldTrack Ventures and the Kingdom of Saudi Arabia, regarding a potential investment and continues to believe that this will be a promising partnership.

"Sernova is making significant strides on multiple strategic and operational fronts. The recent release of encouraging clinical data, formation of a world-class clinical advisory board and active investment discussions with multiple parties is encouraging," said Jonathan Rigby, interim chair and chief executive officer of Sernova. "As we advance toward our goal of delivering a functional cure for Type 1 diabetes, we remain focused on execution and creating long-term shareholder value."

Sernova also announced the departure of Dr. Modestus Obochi, its chief business officer. The company thanks Dr. Obochi for his leadership and contributions during his tenure, and wishes him well in his future endeavours.

About Sernova Biotherapeutics Inc.

Sernova Biotherapeutics is a clinical-stage company developing regenerative medicine therapeutics combining its Cell Pouch with human donor cells or stem-cell derived islet like clusters in collaboration with Evotec to create bio-hybrid organs to treat T1D. A bio-hybrid organ comprises non-biomaterials, such as the Cell Pouch, integrated with living tissues to restore or enhance the function of a compromised organ. This innovative approach aims to deliver a potentially revolutionary treatment for patients with chronic diseases, initially focusing on T1D and thyroid disorders.

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