Jun. 6, 2011 (Marketwire Canada) --
VANCOUVER, BRIITSH COLUMBIA -- EnWave Corporation (TSX VENTURE:ENW)(FRANKFURT:E4U) ("EnWave" or "the Company") announced today that it has been given the 2011 Gold Leaf Award for Early Stage Company of the Year (Industrial) by Canada's national biotechnology association, BIOTECanada. Launched in 2001, this prestigious award is given annually by BIOTECanada to innovative pre-commercialization companies who have achieved significant technology development milestones. EnWave's Chairman and Co-CEO, Dr. Tim Durance, and Jennifer Thompson, V.P. of Corporate Development, will accept the award on June 28th at the BIO International Convention in Washington, DC.
"Through the development of freezeREV™, bioREV™ and powderREV™, our goal is to provide global pharmaceutical companies with faster, simpler and less costly dehydration technology than the current industrial method of freeze drying," said Dr. Durance, Chairman and Co-CEO of EnWave. "This award recognizes our early successes in drying vaccines and other biomaterials, and encourages our mission to see more shelf-stable medicines made available to developing countries where constant refrigeration is not available."
"EnWave has shown very encouraging results in drying biomaterials using their prototype high-speed drying technologies," stated Peter Brenders, President and CEO, BIOTECanada. "We are watching EnWave's progress with a great deal of interest as they work to bring their Radiant Energy Vacuum technology to the market."
EnWave's prototype bioREV™ and freezeREV™ technologies are designed to dehydrate live or active materials such as antibodies, bacteria, enzymes and viruses in sterile vials to produce shelf-stable pharmaceuticals for humans and animals, along with non-regulated biological products such as reagents. powderREV™ is designed to dehydrate similar materials in bulk form. EnWave is currently determining the feasibility of using these technologies to produce shelf-stable vaccines and other biologicals as a cost-effective alternative to the current industry standard of freeze drying (lyophilization). The Company believes that high-speed, low cost dehydration could reduce the expensive and complicated refrigeration "cold chain" currently necessary to preserve many biomaterials used to protect against pandemic diseases and bioterrorism threats, and to reduce the cost of biomaterials used for scientific discovery and diagnostics.
Incorporated in 1987 as the Industrial Biotechnology Association of Canada, BIOTECanada serves as the national voice for industry leadership for Canada's biotechnology sector. BIOTECanada is dedicated to the sustainable commercial development of biotechnology innovation in Canada. It is the national industry-funded association with over 250 member companies representing the broad spectrum of biotech constituents including emerging and established firms in the health, industrial, and agricultural sectors, as well as academic and research institutions and other related organizations. More information is available at: www.biotech.ca.
EnWave currently has five REV platforms designed to provide high-speed, high-quality dehydration of food and biomaterials: commercial-scale nutraREV™ is used in the food industry to dry fruits, vegetables, meat, herbs and seafood quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour. The Company is also developing powderREV™ for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes; quantaREV™ for continuous, high-volume low-temperature drying of pastes, gels, liquids, or particulates; and bioREV™ and freezeREV™ as new methods to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies, giving these products a longer shelf-life and potentially enabling worldwide shipment and storage with less costly refrigeration. More information about EnWave is available at www.enwave.net.
Dr. Tim Durance, Chairman & Co-CEO
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 financial results are forward-looking statements. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. There is no guarantee that the Company's REV technology can or will improve processes in the target industry; even if the Company's REV technology can be used as described in this document, there is no guarantee that such use will result in orders for the Company's REV technology. All figures comparing REV technologies to freeze drying or other dehydration technologies are provided as examples of data obtained through the Company's own scientific and testing programs; each product must be tested individually to determine the benefits of using REV.
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.
President & Co-CEO
V.P. Corporate Development & Investor Relations