Mr. Dominic Gray reports

SERNOVA ENTERS INTO EXCLUSIVE WORLDWIDE LICENSE AGREEMENT WITH UNIVERSITY OF MIAMI FOR THERAPEUTIC CELL IMMUNE PROTECTION TECHNOLOGIES

Sernova Corp. has entered into an exclusive, worldwide licence with the University of Miami at Coral Gables, Fla., for the commercial rights to novel conformal coating immune protection technologies. The technologies were developed by Dr. Alice Tomei, Dr. Jeffrey Hubbell and Aaron Stock (graduate student). Dr. Tomei is a leading international expert in immunoprotection and diabetes immunoengineering, of the renowned Diabetes Research Institute (DRI), a designated Center of Excellence at the University of Miami Miller School of Medicine. Dr. Hubbell is the Eugene Bell professor of tissue engineering at the University of Chicago and leading international researcher in immunoengineering.

This exclusive worldwide licence agreement is important to Sernova because it broadens the technology scope of Sernova's immune protection conformal coating technologies and related intellectual property. Furthermore, it adds to a series of recent strategic acquisitions and collaborations for the company and builds on its goal of protecting Sernova's therapeutic cells or tissues transplanted into Sernova's Cell Pouch from a detrimental autoimmune system response while eliminating the need for immunosuppressive drugs in treated patients.

"Sernova is further advancing development of its novel Cell Pouch System as a therapeutic platform to provide cell therapy solutions to patients with chronic diseases, such as Type 1 diabetes, without the current need for life-long immunosuppressive drugs. We believe, with the addition of local immune protection, our breakthrough technologies will have the potential to significantly expand access to and the availability of therapeutic solutions to millions of people as a functional cure for the chronic diseases from which they are suffering," said Dr. Philip Toleikis, president and chief executive officer of Sernova.

Dr. Toleikis continued: "As we continue to advance our first-in-class technologies, we have diligently selected complementary technologies developed by recognized experts in the field such as those by Dr. Tomei and colleagues to add to our Cell Pouch platform. With the continued expansion of our regenerative medicine therapeutics platform, we are positioning the company at the forefront in the development of safe, functional regenerative medicine therapeutics."

Dr. Alice Tomei, the director of the Islet Immunoengineering Laboratory at DRI, stated: "Following my postdoctoral training in Dr. Hubbell's laboratory at Ecole Polytechnique Federale de Lausanne, Switzerland, I joined the University of Miami where I have focused my academic career in the pursuit and development of novel cellular immune protection technologies to advance the field of cell therapy. With Sernova's goal of a functional cure for diabetes, supported by its positive preclinical and more recent, emerging clinical safety and efficacy data from the University Chicago clinical trial, I am excited to contribute to the addition of local immune protection technologies provided by conformal coatings as the next important step towards this ultimate goal."

About Sernova Corp.

Sernova is developing regenerative medicine therapeutic solutions using a medical device (Cell Pouch) and immune protected therapeutic cells/tissues (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 cellular production of proteins or hormones missing or in short supply within the body.

We seek Safe Harbor.