Sernova and Centre for Commercialization of Regenerative Medicine Partner to Treat Chronic Diseases

TORONTO, ONTARIO and LONDON, ONTARIO--(Marketwire - Feb. 28, 2013) - The Centre for Commercialization of Regenerative Medicine (CCRM) is pleased to announce the addition of Sernova Corp. ("Sernova" or the "Company") (TSX VENTURE:SVA) to its member-based industry consortium. Sernova's combination of immuno-protective technology and therapeutic cells for the treatment of chronic diseases advances CCRM's goal of developing innovative cell-based product.

"Sernova's technology for transplanting therapeutic cells into an implanted medical device for the treatment of diabetes and other chronic diseases goes hand-in-hand with our strategy of translating cell-based medical discoveries into commercial products and therapies," says Dr. Michael May, CEO of CCRM. "Sernova's expertise in the area of cell therapy will bring great value to CCRM's core development platforms and to other consortium members."

CCRM is working with its industry consortium to address real-life bottlenecks in cell-based product pipelines. Its industry consortium now numbers over 20 members. These companies represent the key sectors of the industry: therapeutics, devices, reagents, and cells as tools.

"Becoming a member of CCRM offers the opportunity for further validation for our technology and demonstrates our company's commitment to the advancement of our Cell Pouch System™ as an effective, safe, long-term and convenient therapeutic option for the treatment of chronic diseases," says Dr. Philip Toleikis, President and CEO of Sernova Corp. "We will work together with the other consortium members to achieve CCRM's objectives in treating and managing devastating diseases such as diabetes."

CCRM has built three core development platforms: cell reprogramming and engineering; cell manufacturing; and, biomaterials and devices to carry out projects commissioned by academia and industry. CCRM has a fully resourced, 6,000 square foot development facility where all development work takes place.

Please visit www.ccrm.ca/industry-consortium to see a complete list of CCRM's members.

About the Centre for Commercialization of Regenerative Medicine (CCRM)

CCRM, a Canadian not-for-profit organization funded by the Government of Canada's Networks of Centres of Excellence program and six academic partners, supports the development of technologies that accelerate the commercialization of stem cell- and biomaterials-based technologies and therapies. A network of academics, industry and entrepreneurs, CCRM aims to translate scientific discoveries into marketable products for patients. CCRM launched in Toronto's Discovery District on June 14, 2011.

About Sernova

Sernova Corp. is a clinical stage health-sciences company focused on commercializing medical technologies. Sernova is currently developing a platform technology for a number of serious disease indications, starting with a novel treatment for insulin-dependent diabetes, using the novel Cell Pouch System^™ for transplantation and long-term survival of therapeutic cells and its patented Sertolin^™ cell technology, which can provide an immune-protected local environment for therapeutic cells.