Sernova Announces Annual Meeting and Nominees for Its Board of Directors

LONDON, ONTARIO--(Marketwired - March 5, 2015) - Sernova Corp. (TSX VENTURE:SVA), a clinical stage company developing regenerative medicine products for the treatment of chronic debilitating diseases including diabetes and hemophilia, is pleased to announce that it will hold its annual general and special meeting of shareholders (the "AGM") on April 28, 2015. The record date for shareholders entitled to vote at the AGM is March 20^th, 2015.

The Company also wishes to announce that management's nominees for the board of directors at the upcoming AGM are Frank Holler, Jeffrey Bacha, James Parsons, Bruce Weber and Dr. Philip Toleikis.

After a lengthy and productive tenure as Chairman, Dr. George Adams has advised the board that he will be retiring as a director of Sernova at the end of his term and has stepped down as Chairman of the Board.

Dr. Philip Toleikis, President and CEO of Sernova said, "On behalf of the Board of Directors, I would like to extend my sincere appreciation to Dr. Adams for his substantial contributions to Sernova during his eight years of board membership. Under his leadership, George provided a strong foundation upon which Sernova can advance to its next stage of growth. We wish him every success in his future endeavors."

The Company is pleased to announce that Frank Holler has been appointed Chairman of the Board.

Mr. Holler brings a wide-range of experience to his role as Sernova's Chairman of the Board. An active investor and successful entrepreneur, Mr. Holler is currently the CEO and fund manager for BC Advantage Funds. He previously served as President & CEO of Xenon Pharmaceuticals Inc., a NASDAQ listed genomics-based drug development company, from 1999 to 2003; as President & CEO of ID Biomedical Corporation, a NASDAQ listed vaccine development company sold to GlaxoSmithKline plc in 2005, from 1991 to 1998; and as a founding director of Angiotech Pharmaceuticals, a TSX/ NASDAQ listed medical device company which developed and partnered one of the world's first drug-eluting stents, from 1992 to 1997.

"We are delighted that Frank has agreed to step in to an active role as Sernova's Board Chair," added Dr. Philip Toleikis. "Frank's deep experience in the biopharma industry and in technology capital markets will be crucial as Sernova continues to progress its clinical programs and partnership activities towards commercialization."

Prior to working in biotechnology and healthcare, Mr. Holler was an Investment Banker with Merrill Lynch Canada and Wood Gundy Inc. (now CIBC World Markets).

Mr. Holler currently serves on the board of directors of BC Advantage Funds (VCC) Ltd. (Chairman), Contech Enterprises Inc., the Prevention of Organ Failure (PROOF) Centre (Chairman) at St. Paul's Hospital, Sernova Corp. and Xenon Pharmaceuticals Inc. He has previously served on the board of directors of Protox Therapeutics Inc. (Chairman), Allon Therapeutics Inc., Aquinox Pharmaceuticals Inc., CANTEST Inc., In Motion Technologies Inc., Genome British Columbia, Providence Health Care and Redlen Technologies Inc. He was also previously a Director of the British Columbia Biotechnology Association from 1992 to 1998 and, in 2003, received the BC Biotech Award for Vision and Leadership.

Mr. Holler holds a Masters of Business Administration degree and Bachelor of Arts (Economics) degree from the University of British Columbia.

For purposes of the AGM, in accordance with the terms of the adopted Advance Notice By-Law, the Board has determined that such notice of nominations of persons for election to the Board at the AGM must be made by March 18, 2015. Such notice must be in the form, and given in the manner, prescribed by the Advance Notice By-Law, and the Chief Executive Officer of the Company has stipulated Philip.toleikis@sernova.com as an email address for receipt of such notice.

About Sernova

Sernova Corp is a clinical stage regenerative medicine company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch™, an implantable medical device for therapeutic cells (donor, xenogeneic or stem cells) which then release proteins and/or hormones as required. The therapeutic cells are protected from immune attack by Sernova's proprietary local immune protection technology.

Forward Looking Information

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Sernova's management on the date such statements were made. 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.

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