Sernova Corp. announced that Nicholas J. Rossettos, CPA has joined Sernova on a consulting basis as interim Chief Financial Officer (CFO). With a wealth of experience in financial leadership within the biotech industry, Nick brings a fresh perspective and a strong track record of success to the Sernova team during this transition period.

The company has initiated a formal search for a permanent CFO and is also actively recruiting additional talent to fill key leadership roles and strengthen its senior executive team, which started with the additions of Cynthia Pussinen as the Chief Executive Officer and Modestus Obochi as Chief Business Officer. The goal is to ensure that Sernova has the expertise to execute its strategic vision and drive the company forward by delivering life-changing therapies to patients worldwide. David Swetlow, Chief Financial Officer, is no longer with the company.

Mr. Swetlow's employment was terminated for cause after the Board received and considered findings made by independent legal counsel in connection with an ongoing investigation into alleged misconduct. Another senior officer of the company has been placed on administrative leave pending the final outcome of the investigation. None of the allegations, if substantiated, are expected to materially change or impact the Company's financial statements or its reporting obligations.