EnWave Corporation

EnWave Corporation

July 11, 2007 08:30 ET

EnWave and Aridis Pharmaceuticals Sign Collaboration Agreement-Relationship Expanded to Include Antibodies

VANCOUVER, BRITISH COLUMBIA and SAN JOSE, CALIFORNIA--(Marketwire - July 11, 2007) - EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave" or "the Company") announces that it has reached a definitive agreement to collaborate with Aridis Pharmaceuticals, LLC ("Aridis") of San Jose, California, to determine the feasibility of EnWave's proprietary bioREV radiant energy vacuum technology to stabilize and dehydrate vaccines and antibodies.

The detailed Collaboration Agreement expands the scope of work originally contemplated by a letter of intent between the companies (announced March 29, 2007) to cover Aridis' proprietary formulations of antibodies, in addition to vaccines.

Aridis is an emerging leader in the development of stabilized pharmaceutical formulations. The collaboration calls for the development and testing of new bioREV processes and equipment specific to vaccine and antibody dehydration in an 18 month-long project.

New formulations for bioREV processes will be developed initially for each of Aridis' three vaccines (against Shigella, Rotavirus and Anthrax infections), and an antibody (for the treatment of lung infections in Cystic Fibrosis patients). The Collaboration provides for an option to develop six additional vaccines and/or antibodies over the next ten years.

Preliminary process testing will take place at a new EnWave facility to be developed early in the project, while vaccine and antibody formulation, dehydration and shelf-life studies will occur at the Aridis facility in California, expected to begin by the end of this year. Project costs will be shared equally by EnWave and Aridis.

Dr. Tim Durance, Chairman and Co-CEO of EnWave, commented: "We are very pleased to be working with Aridis to accelerate the commercialization of its products and our technology in both the vaccine and antibody markets. We have already met with some initial success in dehydrating various types of antibodies."

Dr. Eric J. Patzer, President of Aridis, commented: "There is a significant global need for the development of new methods of stabilizing and processing vaccines and antibodies at lower cost, with a more efficient process and without the need for refrigeration. We are excited by the possibility that EnWave's bioREV technology can generate novel and improved products for these growing markets."

Antibodies are a versatile class of protein therapeutics being used to treat a variety of diseases including cancer, cardiovascular and infectious diseases caused by microorganisms (e.g. bacteria and viruses) or toxins. The market for therapeutic and diagnostic antibodies is estimated at US$22 billion, nearly double the size of the vaccine industry, and the general uses of antibody therapy are growing in a broad range of areas.

The Collaboration Agreement is subject to the completion of detailed licensing terms and consent from the University of British Columbia, by October 31st, 2007.

About Aridis

Aridis is a privately-held biopharmaceutical company focused on developing antibodies and vaccines for infectious diseases that can maximally benefit from its proprietary formulation and delivery technology. The company aims to create a new generation of cost-effective, stable and more convenient products. Aridis has three pipeline products with significant preclinical or clinical efficacy data that will facilitate rapid advancement into clinical testing. Aridis' lead product, Aerucin™ is a human antibody to treat chronic lung infections due to Pseudomonas aeruginosa in cystic fibrosis patients. More information about Aridis is available at www.aridispharma.com.

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: "may offer commercial potential" and "expected to begin". 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