EnWave Corporation

EnWave Corporation

October 09, 2007 08:30 ET

EnWave Receives Significant National Research Council Canada Funding

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2007) - EnWave Corporation (TSX VENUTURE:ENW)(FRANKFURT:E4U) ("EnWave" or "the Company") is pleased to report that it has received a non-repayable contribution of CDN $300,000 from the National Research Council Canada Industrial Research Assistance Program ("NRC-IRAP"). The funds will be used to further develop EnWave's proprietary vaccine and antibody dehydration technology, called bioREV.

EnWave is currently in the final stages of testing the first bioREV prototype capable of in-container dehydration of individual vials of vaccines and other pharmaceutical products. In October, 2007, the Company plans to ship this equipment to its collaboration partner, Aridis Pharmaceuticals of San Jose, California, which will then begin testing the effectiveness of using bioREV with Aridis' proprietary formulations to produce room temperature stable vaccines and monoclonal antibodies in dehydrated form.

The NRC-IRAP funding will be used to develop a new multi-vial version of the bioREV technology capable of processing larger quantities of vaccines. The multi-vial prototype will be designed and built using engineering expertise from Starfish Medical of Victoria, B.C. A preliminary design should be delivered by Q1, 2008, and EnWave expects to receive the technology for initial testing in Q3, 2008.

Dr. Tim Durance, Chairman and Co-CEO of EnWave, stated that, "The participation of the NRC-IRAP in this project has provided the Company with a significant boost in resources that will allow us to complete this project in an accelerated timeframe. With this funding, we now have access to the full array of engineering and scientific resources that is necessary for the development of this important technology."

About EnWave

Using proprietary technologies developed in conjunction with the University of British Columbia, EnWave is focused on the development of new methods of dehydrating biological materials using Radiant Energy Vacuum technology under its bioREV brand. bioREV technology combines microwave energy transfer with pressure control to dehydrate and alter structures and drive chemical reactions, thereby creating unique product characteristics for medical applications that include dry vaccines, bone and tissue engineering, and drug delivery. More information about EnWave is available at www.enwave.net.

EnWave Corporation

Dr. Tim Durance, Chairman & CO-CEO

Safe Harbour for Forward-Looking Information Statements: This 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. Forward looking statements in this press release include: "plans to", "should be delivered" and "expects to receive". These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions: there is no guarantee that the Company's bioREV technology can or will be used to develop materials for the tissue engineering or drug delivery markets; even if the Company's bioREV technology can be used as described in this news release, there is no guarantee that such use will result in orders for the Company's bioREV technology.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • EnWave Corporation
    Dr. Tim Durance
    Chairman and Co-CEO
    (604) 806-6110
    EnWave Corporation
    Mr. John McNicol
    President and Co-CEO
    (604) 806-6110
    (604) 806-6112 (FAX)
    Website: www.enwave.net