VANCOUVER, BRITISH COLUMBIA--(Marketwire -12/12/11)- EnWave Corporation (TSX-V: ENW.V - News)(Frankfurt: E4U.F - News) ("EnWave", or the "Company") today announced that it has signed a Research Evaluation Agreement with Merck, through a subsidiary.
Under the terms of the agreement Merck will conduct a field test to determine the feasibility of the Radiant Energy Vacuum ("REV") Technology using EnWave's new multi-vial pilot-scale equipment. In addition, EnWave has granted Merck an exclusive research license to use the Company's technology and licensed patents for the duration of the evaluation and an option to obtain an exclusive commercial worldwide license to EnWave's portfolio.
"We are very excited to begin a research evaluation program with Merck," said Dr. Tim Durance, Co-CEO, EnWave Corporation. "This represents further progress towards our goal of establishing REV as a viable commercial technology in the pharmaceutical setting."
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.
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV) dehydration technology. In collaboration with an expanding list of multinational partners, including Nestle, Kellogg's, Grupo Bimbo, Grimmway Farms, Ocean Spray, Hormel and Bonduelle. EnWave is introducing REV as a new dehydration standard in the food and biological material sectors: potentially faster 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, 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.
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.
Mr. John McNicol, President & Co-CEO
Mr. Brent Charleton, Director of Marketing &