VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sep 20, 2012) - EnWave Corporation (TSX VENTURE:ENW)(E4U.F) ("EnWave", or the "Company") today announced that it has signed a Collaboration Agreement (the "Agreement") with a second pharmaceutical company (the "Collaborator"), to test Radiant Energy Vacuum ("REV") technology as a potential method for the drying of biologic material used for the production of protein-based therapeutics via the Collaborator''s proprietary process.
Initial positive lab results involving the Company''s REV technology has compelled the Collaborator to engage in a more thorough testing program, with the goal of refining their processes and seeking FDA approval for the entire procedure.
"Our Collaborator is on the verge of potentially making a major breakthrough in the global pharmaceutical industry," said Dr. Tim Durance, Co-CEO, EnWave Corporation. "If REV can successfully contribute to their proprietary process, EnWave will be positioned well to benefit from their potential success. This collaboration will also provide the opportunity to get the REV method FDA exposure and possible approval."
EnWave''s dehydration technology portfolio for pharmaceuticals and biomaterials includes freezeREV™, powderREV™ and bioREV™; each employing a combination of microwave energy with a low pressure environment to achieve rapid, highly controlled dehydration of live or active biological materials stored in sterile vials or in bulk powder, with the goal of significantly reducing the process time and cost of dehydration in comparison to lyophilisation.
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV) dehydration technology. The company recently licensed REV technology to Milne Fruit Products Inc, its first major U.S. customer, to support a launch of healthy berry snacks and powders across most major markets in North America. More recently, EnWave licensed REV technology to one of its Tier 1 multinational partners from the list below. In addition, EnWave has entered a wide range of research and collaboration agreements with an expanding list of multinational partners, including Nestlé, Kellogg''s, Grupo Bimbo, Grimmway Farms, Ocean Spray Cranberries, Hormel, Bonduelle, Cherry Central, Sun-Maid Growers and Merck. EnWave is introducing REV as a new dehydration standard in the food and biological material sectors: potentially faster and cheaper than freeze drying, with better end product quality than air drying or spray drying.
EnWave currently has six REV platforms: commercial-scale nutraREV® and MIVAP® are used in the food industry to dry fruits, vegetables, meat, herbs and seafood quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour. The Company is also developing powderREV™ for bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes; quantaREV™ for continuous, high-volume low-temperature drying of pastes, gels, liquids, or particulates; and bioREV™ and freezeREV™ as new methods to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
Dr. Tim Durance, Chairman & Co-CEO
Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management''s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company''s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. There is no guarantee that the Company''s REV technology can or will improve processes in the target industry; even if the Company''s REV technology can be used as described in this document, there is no guarantee that such use will result in orders for the Company''s REV technology. All figures comparing REV technologies to freeze drying or other dehydration technologies are provided as examples of data obtained through the Company''s own scientific and testing programs; each product must be tested individually to determine the benefits of using REV.