SOURCE: EnWave Corporation

EnWave Corporation

September 04, 2015 09:00 ET

EnWave Begins Manufacturing Phase of Agreement Signed With Sutro Biopharma

VANCOUVER, BC--(Marketwired - September 04, 2015) - EnWave Corporation (TSX VENTURE: ENW) (FRANKFURT: E4U) ("EnWave", or the "Company") is pleased to announce that the Company has commenced the manufacturing of a commercial-scale powderREV® machine pursuant to the royalty-bearing Commercial License (the "License") that included a Machine Purchase Agreement (the "Agreement") signed in May 2014 with Sutro Biopharma Inc. ("Sutro"). Sutro has made a milestone payment to EnWave and the License stipulates that Sutro will make additional milestone payments to EnWave during the manufacture and commissioning of the equipment. Sutro is a U.S. company that uses Xpress CF™, a proprietary biochemical protein synthesis technology, to discover and develop novel antibody drug conjugates and multi-specific antibodies for cancer therapeutics.

EnWave will complete the manufacture and installation of this customized powderREV® machine in 2016 at Sutro's GMP manufacturing facility in San Carlos, California. This machine will allow Sutro to dry and store its proprietary cell-free extract to support pharmaceutical product development and commercialization.

Sutro has been working with EnWave's powderREV® technology to generate dried cell-free extract since September 2012. During the initial testing period, Sutro validated the efficacy and stability of cell-free extract and believes that the use of powderREV® technology could dramatically simplify manufacturing storage conditions.

About Sutro Biopharma, Inc.
Sutro Biopharma, Inc., located in South San Francisco, develops best-in-class antibody drug conjugate and multi-specific antibody-based therapeutics for cancer therapy, including Immuno-Oncology therapies. Sutro's discovery and development efforts are driven by our proprietary Xpress CF™- and Xpress CF™+-platforms, a biochemical synthesis system that enables rapid and systematic evaluation of protein structure-activity relationships, as well as rapid and predictable scalability for manufacturing in Sutro's cGMP facility. In addition to developing its own drug candidate pipeline, which is focused on mono- and bi-specific ADCs, Sutro Biopharma is collaborating with select pharmaceutical and biotech companies to discover and develop novel therapeutics. For more information on Sutro Biopharma please visit www.sutrobio.com.

About EnWave
EnWave Corporation is a Vancouver-based industrial technology company developing commercial applications for its proprietary Radiant Energy Vacuum (REV™) dehydration technology. EnWave aims to sign royalty-bearing commercial licenses with leading food and pharmaceutical companies for the use of its revolutionary technology. To date, the Company has signed fifteen royalty-bearing commercial licenses with various companies, thereby opening up eight distinct market sectors for commercialization. In addition to these fifteen licenses, EnWave has formed a Limited Liability Partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products within the United States of America under the Moon Cheese® brand.

EnWave is introducing REV™ technology as a new dehydration standard in the food and biological material sectors, with benefits including, but not limited to, a faster and cheaper method compared to freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:

  1. nutraREV® (food industry applications): designed for quick, low-cost dehydration of fruits, vegetables, herbs, dairy products, meats and seafood, with benefits including improved nutritional content, appearance, flavor and texture relative to conventional methods.
  2. quantaREV® (food industry applications): designed for high-volume, low-temperature dehydration of solids, liquids, granular or encapsulated products.
  3. powderREV® (pharmaceutical applications): designed as a high-speed, lower-energy, continuous alternative to freeze drying for bulk dehydration of temperature-sensitive biomaterials (bacteria, enzymes, probiotics, food cultures, etc.).

In addition, EnWave is currently developing two new commercial REV™ platforms:

  1. freezeREV® (pharmaceutical applications): a multi-vial prototype technology designed to act as an accelerated freeze dryer to produce room-temperature stable biopharmaceuticals and reagents.
  2. bioREV® (pharmaceutical applications): a single-vial prototype technology designed to produce room-temperature stable vaccines and antibodies requiring less refrigeration.

More information about EnWave is available at www.enwave.net.

EnWave Corporation
Dr. Tim Durance
President, CEO and Director

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.

Contact Information

  • For further information:

    Mr. John Budreski
    Executive Chairman
    EnWave Corporation
    +1 (416) 930-0914
    E-mail: jbudreski@enwave.net

    Mr. Brent Charleton
    Senior Vice President, Corporate Affairs
    +1 (778) 378-9616
    E-mail: bcharleton@enwave.net