EnWave Corporation
TSX VENTURE : ENW

EnWave Corporation

March 29, 2007 10:22 ET

EnWave, Aridis Pharmaceuticals Sign Letter of Intent

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2007) - EnWave Corporation (TSX VENTURE:ENW) ("EnWave" or "the Company") is pleased to report that it has signed a Letter of Intent ("LOI") to initiate a collaboration with Aridis Pharmaceuticals ("Aridis") of San Jose, California, a leader in pharmaceutical formulation development. The collaboration will determine the feasibility of using EnWave's bioREV technology to develop room temperature stable vaccines. The initial collaboration will process test quantities of several proprietary Aridis vaccine products to provide proof of concept data on the use of bioREV as a vaccine stabilization method. In addition to the initial collaboration, the LOI offers both parties an opportunity to expand the commercial relationship to include other vaccine products and joint intellectual property development with future product royalty incentives.

To date, Aridis and EnWave have undertaken a series of feasibility tests with one of the Aridis vaccine products. Results from these tests indicate that bioREV technology may be an efficient processing method to dry a variety of vaccines, including those which contain live organisms.

Dr. Tim Durance, Chairman and Co-CEO of EnWave, stated that, "EnWave is excited by the possibilities that this new relationship presents as Aridis brings a wealth of vaccine development and drying experience to the table. I believe that together we have the required skills and technology to move EnWave's bioREV technology forward towards commercialization in the vaccine industry."

Dr. Eric J. Patzer, President of Aridis, stated that, "EnWave's bioREV technology may have the potential to introduce a novel method for vaccine dehydration to produce vaccines which are more convenient to administer, have longer shelf life, and are less costly to manufacture."

Pre-clinical studies are expected to begin later in 2007 after EnWave completes the fabrication and installation of a new bioREV unit at the Aridis facility. The LOI is subject to both parties signing a formal collaboration and co-development agreement by June 30th, 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 to create a new generation of cost-effective, stable and convenient products administered without diluents, mixing or needles. 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

EnWave is a spin-off company from the University of British Columbia whose primary focus is the development of a new method for dehydrating biological materials using Radiant Energy Vacuum technology under the brand name bioREV. The bioREV technology combines microwave energy transfer with pressure control to alter structures, dehydrate and drive chemical reactions, thereby creating unique product characteristics for various medical applications including dry vaccines, bone and tissue engineering and drug delivery. More information about EnWave is available at www.enwave.net.

ON BEHALF OF THE BOARD

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
    or
    EnWave Corporation
    Mr. John McNicol
    President and Co-CEO
    (604) 806-6110
    (604) 806-6112 (FAX)
    Website: www.enwave.net