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Sernova Announces Appointment of Nick Borrelly to Corporate Development Role

Seasoned biopharma executive brings corporate development expertise to Sernova

LONDON, ONTARIO -- (Marketwired) -- 05/07/14 -- Sernova Corp. (TSX VENTURE:SVA) is pleased to announce that Mr. Nick Borrelly is joining Sernova in a consultant corporate development role. Mr. Borrelly has over 25 years' experience in corporate/business development as well as marketing and sales in the pharmaceutical (Ciba-Geigy, Novartis and Sanofi-Aventis) and biopharma industries. As President of Camargue Consulting, he specializes in development, evaluation and in-licensing of technologies, initiation of strategic alliances with multi-national corporate partners, and leading sales and marketing teams for commercial stage products.

"Nick's extensive corporate development network and partnering expertise will be invaluable to creating significant shareholder value through attracting strong commercialization partners for our products. As Sernova is now exploring additional clinical applications of the Cell Pouch(TM), establishing corporate partners to help accelerate development has become an important part of our corporate strategy forward", stated Dr. Philip Toleikis, Sernova's President and CEO.

Mr. Borrelly said, "I am excited to work with Sernova's CEO, Dr. Philip Toleikis, and his team to fully implement the strategic vision for its disruptive technologies for the cell-based treatment of chronic diseases."

Nick's past roles include Manager, Business Development - Licensing & Acquisitions with Sanofi Aventis Pharma Canada; Vice President, Business Development for MNLpharma (U.K.) Ltd.; and Vice President, Business Development for CV Technologies/Afexa Life Sciences Inc. As a Director with Nucleus BioScience Inc., he coordinated its amalgamation with Stratos BioSciences Inc. and Brightwave Technologies Inc. to create SNB Capital Corp., which subsequently took the biotherapeutics company Protox Therapeutics Inc. (now Sophiris Bio Inc) public in 2004. Nick is currently a member of the Board of Directors of Eternity Healthcare, and Auxellence Health Corporation.

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 haemophilia and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch(TM), 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 technologies.

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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