EnWave Corporation

EnWave Corporation

November 29, 2007 08:30 ET

EnWave Corporation Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) today provided a corporate update on the development, testing and commercial applications of its proprietary vacuum-microwave dehydration technology in the medical and food sectors.

bioREV Technology in the Pharmaceutical Industry

EnWave's bioREV technology is being tested for use in the pharmaceutical industry to dehydrate vaccines and antibodies where the threat of pandemic diseases, such as avian flu, and bio-terrorism has created a need for the development of vaccine formulations that can be stockpiled without losing their activity. Dried vaccines have a longer shelf-life than liquid vaccines, and can be shipped worldwide without the need for expensive, constant refrigeration.

In July 2007, EnWave signed a comprehensive Collaboration Agreement with San Jose, California-based Aridis Pharmaceuticals, LLC. Aridis specializes in developing vaccine and antibody formulations specifically for dehydration processing. Aridis has acquired the rights to a portfolio of vaccines to prevent Rotavirus, Anthrax and Shigella diseases, along with one antibody to treat lung infections arising from the bacteria Pseudomonas aeruginosa. Aridis and EnWave have agreed to collaborate to determine the feasibility of using EnWave's proprietary bioREV technology as a new dehydration method for Aridis' current portfolio. The collaboration also allows for testing up to six additional vaccine and/or antibody formulations over the next 10 years.

The current "gold standard" for dehydrating many liquid pharmaceuticals is freeze drying, also known as lyophilization. This process is expensive, time consuming and often results in significant loss of live activity, or bio-yield.

In May, 2006, Aridis conducted an initial test on EnWave's original bioREV laboratory prototype and found that the technology was capable of dehydrating viable vaccines in less than 30 minutes. Since that time, EnWave's team has been focused on creating a bioREV prototype specifically for the dehydration of vaccines and antibodies. The Company has now demonstrated that a sterile vial of liquid vaccine formulation can be dehydrated in 3 to 5 minutes.

EnWave's vaccine bioREV prototype has now been shipped to Aridis, and they will shortly begin to develop vaccine and antibody formulations specifically tailored to this technology. Aridis will develop formulations for each product that are optimal for use with the bioREV technology, and then process each product to measure biological activity and shelf-life post dehydration to determine bioREV's feasibility in comparison to lyophilisation. EnWave expects to receive preliminary results from Aridis for the first vaccine in Q1, 2008, but the entire testing program is scheduled to last until 2009.

Next Generation of bioREV Technology

EnWave is currently designing the next generation of bioREV technology with Starfish Medical of Victoria, B.C. The goal of this design is to process significantly larger quantities of vaccines and antibodies in sterile vials on a continuous production line. EnWave expects to begin testing the new "multi-vial" bioREV unit in the 3rd quarter of 2008, and will provide this technology to Aridis to increase the speed with which they can conduct their project.

EnWave's intent is to generate technology licensing and royalty revenues from bioREV in partnership with pharmaceutical companies that produce vaccines and antibodies.

Food Dehydration with nutraREV

In recent years, EnWave has conducted a wide range of fruit and vegetable dehydration studies using its proprietary nutraREV technology. nutraREV offers significant potential commercial benefits including more efficient processing, better quality food and higher nutritional content than current processing techniques such as freeze-drying and air-drying.

Over the past year, EnWave designed and built its first continuous nutraREV process, incorporating the features and benefits from the smaller units into a commercial-scale production line. The new technology contains unique product handling features that control microwave energy at high throughput levels, control or eliminate arcing within the microwave field, and allow the user flexible controls on processing speed and moisture content. EnWave recently filed a U.S. patent application to help protect these unique operating features.

EnWave's new continuous nutraREV technology has been successfully tested at the Company's own facility, and will be installed in a food processing facility in Q1 2008 where it will be evaluated at a commercial production rate of 100 kg of finished product per hour. If these commercial trials achieve operational, quality and economic targets, EnWave intends to market the nutraREV technology in the food industry by establishing a strategic alliance with a globally positioned builder and supplier of food dehydration equipment.

EnWave has recently engaged a number of key advisors with international experience in project and process engineering, biotechnology collaborations, product development, operations and corporate affairs. Management remains focused on achieving key milestones in 2008 needed to commercialize its bioREV and nutraREV technologies and maximize shareholder value.

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 (REV) technology under its bioREV and nutraREV brands. REV technology combines microwave energy transfer with pressure control to dehydrate and alter structures and drive chemical reactions, thereby creating unique product characteristics for both food products and medical applications that include dry vaccines. More information about EnWave is available at www.enwave.net.

EnWave Corporation

Mr. John McNicol, President & Co-CEO

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. 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 and nutraREV technology can or will be used to develop materials for the tissue engineering or drug delivery markets or improve processes in food industry; even if the Company's bioREV and nutraREV technology can be used as described in this document, there is no guarantee that such use will result in orders for the Company's bioREV and nutraREV technology.

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

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