EnWave Signs Technology License and Joint Development Agreement with GEA Lyophil GmbH to Advance REV™ Technology for Pharma...
January 22 2020 - 09:00AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave,” or the
"Company”) today announced signing a technology license
and joint development agreement (the “JDA”) with GEA Lyophil GmbH
(“GEA Lyophil”), a global manufacturer and marketer of freeze-dry
units for the pharmaceutical and biotech industries, to accelerate
the potential commercialization of EnWave’s Radiant Energy Vacuum
(“REV™”) technology in the pharmaceutical industry. The
Company signed a collaboration and license option agreement with
GEA Lyophil in July 2018 and the two parties have been working
closely with EnWave’s existing pharmaceutical partner since that
time to discuss and strategize the next steps of development
towards prospective commercialization.
Under the JDA, EnWave will formally collaborate
with GEA Lyophil to scale-up and refine GMP-pharma REV™ machinery,
leveraging GEA Lyophil’s deep expertise and intellectual property
in GMP-pharma equipment manufacturing. The JDA will allow for the
integration of EnWave’s proprietary freezeREV® pharmaceutical
drying technology into GEA Lyophil’s industry-leading equipment
design and manufacturing capabilities for the pharmaceutical
industry. If successful, GEA Lyophil will leverage its robust
pharmaceutical industry network to manufacture, market and sell
REV™ machinery for use on a global basis for pharmaceutical
applications. Under the terms of the JDA, GEA Lyophil will pay
EnWave an undisclosed royalty on the sale of any future GMP-pharma
REV™ machinery.
This collaboration between EnWave and GEA
Lyophil, including the design and manufacture of next generation
scaled-up REV™ machinery that uses the proprietary intellectual
property of both parties, aims to allow EnWave’s current
pharmaceutical partner to conduct clinical trials for several
vaccines. If successful, GEA Lyophil will solicit the purchase of
commercial-scale GMP-pharma REV™ equipment from this partner and
from other pharmaceutical companies. EnWave would be entitled to a
royalty in the form of a percentage of all equipment manufactured
and sold as part of commercialization of the technology under the
JDA.
The JDA also allows EnWave to focus on its
current core competencies in the global food and cannabis
industries, reduces the resources necessary to pursue meaningful
monetization of its REV™ technology in the pharmaceutical industry
and leverages an industry technical and commercial leader in GEA
Lyophil.
About GEA Lyophil GmbH
GEA Lyophil GmbH is part of the GEA group of
companies. GEA is one of the largest technology suppliers for food
and pharmaceutical processing, and a wide range of other
industries. The global group specializes in machinery, plants, as
well as process technology and components. GEA provides sustainable
solutions for sophisticated production processes in diverse
end-user markets and offers a comprehensive service portfolio.
For more information about GEA, please visit
www.gea.com.
About EnWave
EnWave Corporation, a Vancouver-based advanced
technology company, has developed Radiant Energy Vacuum (“REV™”) –
an innovative, proprietary method for the precise dehydration of
organic materials. EnWave has further developed patent-pending
methods for uniformly drying and decontaminating cannabis through
the use of REV™ technology, shortening the time from harvest to
marketable cannabis products.
REV™ technology’s commercial viability has been
demonstrated and is growing rapidly across several market verticals
in the food, and pharmaceutical sectors, including legal cannabis.
EnWave’s strategy is to sign royalty-bearing commercial licenses
with innovative, disruptive companies in multiple verticals for the
use of REV™ technology. The company has signed over thirty
royalty-bearing licenses to date. In addition to these licenses,
EnWave established a Limited Liability Corporation, NutraDried Food
Company, LLC, to manufacture, market and sell all-natural dairy
snack products in the United States, including the Moon Cheese®
brand.
EnWave has introduced REV™ as a disruptive
dehydration platform in the food and cannabis sectors: faster and
cheaper than freeze drying, with better end product quality than
air drying or spray drying. EnWave currently offers two distinct
commercial REV™ platforms:
- nutraREV® which is a drum-based
system that dehydrates organic materials quickly and at low-cost,
while maintaining high levels of nutrition, taste, texture and
colour; and,
- quantaREV® which is a tray-based
system used for continuous, high-volume low-temperature
drying.
More information about EnWave is available at
www.enwave.net.
EnWave Corporation
Mr. Brent Charleton, CFAPresident and CEO
For further information:
Brent Charleton, CFA , President and CEO at +1
(778) 378-9616 E-mail: bcharleton@enwave.net
Dan Henriques, CFO at +1 (604) 835-5212 E-mail:
dhenriques@enwave.net
Deborah Honig, Corporate Development at + 1
(647) 203-8793E-mail: dhonig@enwave.net
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projections. All statements that address expectations or
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