EnWave Announces Radiant Energy Vacuum Technology Testing Agreement With Tier 1
Pharmaceutical Company for Monoclonal Antibodies
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/10/14 -- EnWave
Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave", or the
"Company") announced today that it has signed a Testing Agreement
(the "Agreement") with a Tier 1 pharmaceutical company (the "Tier 1")
that is in the top five globally for Research and Development
spending. The Agreement allows the Tier 1 to exclusively test
EnWave's Radiant Energy Vacuum ("REV(TM)") technology for the
dehydration of monoclonal antibodies ("mAbs"). The testing period is
expected to begin in late March 2014.
Prior to signing this Agreement, EnWave received positive results in
2011 from a 12 month study comparing the Company's REV(R) dehydration
technology against the standard industrial drying method, freeze
drying, in the dehydration of pure samples of a FITC-conjugated and
unconjugated animal-derived mAbs. The results showed that the drying
methods were equivalent in terms of the structural changes incurred
by the antibodies both immediately post-dehydration, and over the
course of the 12 month shelf-life period, but that the samples dried
using REV(R) were dehydrated in considerably less time than required
for freeze drying. This was a significant test result as mAbs are
much more sensitive and therefore prone to degradation during
mAbs are produced by a single clone of cells grown in culture, that
is both pure and specific and is capable of proliferating
indefinitely to produce unlimited quantities of identical antibodies.
Beyond basic research, in recent years, therapeutic mAbs have become
an increasingly important component of pharmacotherapy and have made
a significant impact on the drug discovery and development process.
Although antibodies are not considered live organisms, dehydration
can cause them to become inactive, and therefore ineffective for use
in pharmaceutical and other products, by changing or "denaturing"
their outer protein structure.
"We have proven that REV(TM) technology can efficiently dehydrate
monoclonal antibodies while preserving their efficacy," stated Dr.
Tim Durance, Chairman & Co-CEO of EnWave Corporation. "This Agreement
will provide the opportunity to exhibit the value proposition to this
leading Tier 1 pharmaceutical partner."
EnWave Corporation is a Vancouver-based industrial technology company
developing commercial applications for its proprietary Radiant Energy
Vacuum (REV(TM)) dehydration technology. EnWave aims to sign
royalty-bearing commercial licenses with leading food and
pharmaceutical companies for the use of its revolutionary technology.
Thus far the Company has signed commercial licenses with Bonduelle, a
global leader in the production of vegetables, for the processing of
dehydrofrozen vegetables; Hormel Foods Corporation, a major processed
meat manufacturer, for the production of healthy dried meat products;
Milne Fruit Product, EnWave's first major licensee, for the
production of several dehydrated fruit and vegetable products in the
whole, fragmented and powdered form; a leading North American enzyme
company, to dehydrate a series of food-related enzymes for their Tier
1 clients; and Napa Mountain Spice Company, to dry high-quality
California bay leaves. In addition to these licenses, EnWave has
formed a Limited Liability Partnership with Lucid Capital Management
to develop, manufacture, market and sell all-natural cheese snack
products in the United States under the Moon Cheese(R) brand.
Also, EnWave has entered into a wide range of research and
collaboration agreements with an expanding list of multinational
companies, including Nestle, Kellogg's, Grupo Bimbo, Grimmway Farms,
Ocean Spray Cranberries, Cherry Central, Sun-Maid Growers, Gay Lea
Foods, R.J. Reynolds and Merck. EnWave is introducing REV(TM) 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(TM) platforms: commercial-scale
nutraREV(R) and MIVAP(R) 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(R) for bulk dehydration of food
cultures, probiotics and fine biochemicals such as enzymes;
quantaREV(TM) for continuous, high-volume low-temperature drying of
pastes, gels, liquids, or particulates; and bioREV(TM) and
freezeREV(TM) 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 the expected synergies following
the closing are forward-looking statements. All third party
references to market information in this release are not guaranteed
to be accurate as the Company did not conduct the original primary
research. These statements are not a guarantee of future performance
and involve a number of risks, uncertainties and assumptions.
Although the Company has attempted to identify important factors that
could cause actual results to differ materially, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
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(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Mr. John McNicol
President & Co-CEO
Mr. Brent Charleton
Vice President, Corporate Affairs
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