Vancouver, B.C., July 18, 2018
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - http://www.commodity-tv.net/c/search_adv/?v=297852) announced today that it has signed a Collaboration and License Option Agreement (the "Agreement") with GEA Lyophil GmbH, (“GEA”), a Liquid Dosage organization of the Business Application Pharma of the GEA Group. GEA is a major global supplier of GMP lyophilization and loading and unloading systems for the pharmaceutical sector and one of the largest suppliers of process technology for the global food processing industry and a wide range of other industries.
During the six-month term of the collaboration, the Company and GEA will jointly evaluate a potential partnership to facilitate the manufacture and deployment of continuous cGMP REV™ lyophilization equipment into the global pharmaceutical sector. During the term of the Agreement, GEA will work with EnWave’s experienced engineering and biomaterials team to conduct tests using REV™ pharmaceutical lyophilization equipment at the Company’s facility in Delta, B.C., Canada. GEA will evaluate the commercial viability of a partnership and the potential integration of EnWave’s technology into processing solutions for pharmaceutical applications.
The Agreement further grants GEA an exclusive option during the term to negotiate an agreement to manufacture and sell equipment for production of pharmaceutical and biotechnology products using EnWave’s patented dehydration technology. If the collaboration is successful, a potential partnership between GEA and EnWave could accelerate the commercialization of EnWave’s REVTM technology for rapid dehydration of pharmaceutical products, by pairing EnWave’s patented technology with GEA’s industry leading manufacturing practices and market reach. All other terms of the Agreement are confidential.
About GEA APC Pharma Liquid Dosage
For more than 60 years GEA has designed and manufactured integrated freeze drying systems for the pharmaceutical and biopharmaceutical industry. GEA is one of the world’s market leaders in freeze drying technology, with solutions ranging from laboratory and pilot-scale products for R&D and small productions batches to complete, industrial-scale solutions, including ALUS™, integrated isolators and CIP-skids. GEA has produced over 1,000 freeze dryer installations worldwide, and has installed over 200 production systems that include automatic loading systems (ALUS™).
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patented and patent-pending methods for uniformly drying biopharmaceutical and pharmaceutical products through the use of REV™ technology, enabling the development of continuous pharmaceutical lyophilization processes.
REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors. EnWave’s strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV™ technology. The company has signed over twenty royalty-bearing licenses to date, opening up nine distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Corporation, NutraDried Food Company, LLC, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.
EnWave has introduced REV™ as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:
1. nutraREV® which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour;
2. powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and
3. quantaREV® which is used for continuous, high-volume low-temperature drying.
An additional platform, freezeREV®, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
Dr. Tim Durance
President & CEO
For further information:
John P.A. Budreski, Executive Chairman at +1 (416) 930-0914
Brent Charleton, CFA , Senior Vice President, Sales and Business Development at +1 (778) 378-9616
Deborah Honig, Corporate Development, Adelaide Capital Markets at + 1 (647) 203-8793
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 claims referred to in this release are not guaranteed to be accurate. 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 statements.
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.