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Kevin Egan Joins Sernova as Chair Business Advisory Board

Experienced Biotechnology Executive and Investor to Contribute Strategic Business Development Expertise to Sernova

LONDON, ONTARIO -- (Marketwired) -- 05/12/14 -- Sernova Corp. (TSX VENTURE: SVA) is pleased to announce that Mr. Kevin M. Egan, President, Borealis Biotechnology LLC, an international biotechnology consulting company, has joined Sernova as Chair of the Business Advisory Board. A Washington-based entrepreneur and investor, Mr. Egan is one of North America's most prolific, biotech entrepreneurs, bringing over 25 years of success-driven experience in biopharma, and commercialization & partnering expertise to Sernova. He has been directly involved in helping to develop blockbuster drugs from two, bell-weather US biotech giants: Amgen and Icos.

"We are elated to have a seasoned biotech business development colleague join Sernova at this exciting juncture", remarked Dr. Philip Toleikis, President & CEO.

"In addition to Cialis, Mr. Egan worked on two Amgen blockbuster drugs - Epogen, also known as Erythropoietin, which is a red blood cell hormone used primarily for treating people with anemia caused by a variety of diseases; and Neupogen - also known as GCSF, which is a white blood cell growth factor used extensively during chemotherapy. These biopharmaceuticals, along with their derivatives, are among the biggest selling pharmaceuticals of all time", added Dr. Toleikis.

"I am pleased to be joining Sernova at a time when pharma is looking for disruptive technologies to bolster their pipelines," said Mr. Egan. "I am looking forward to working with Dr. Toleikis, and the industry-recognized team he has assembled, to advance Sernova's therapeutic cell-based product development programs and drive value for shareholders."

Mr. Egan began his career at Amgen, Inc. where he worked in research for ten years. In addition to negotiating licensing, partnering, and outsourcing agreements for both biologics and small molecules he was responsible for building and running ICOS' biologics manufacturing business including marketing, business development, and managing the P&L. Over the course of his career, Mr. Egan has negotiated and closed over 100 contracts and agreements with companies from the U.S., Canada, Europe, Australia, Israel, Japan and Taiwan. To date he has brought in over $150M in revenue for various contract manufacturing organizations.

Mr. Egan has an MBA from the University of Washington, a Master's degree in Biochemistry and Molecular Biology from U.C. Santa Barbara, and undergraduate degrees in Biology and Chemistry from U.C. Santa Cruz.

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™, 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.

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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