Dr. Tim Durance reports

ENWAVE SIGNS NON-EXCLUSIVE LICENSE WITH MERCK, AGREES TO BUILD SECOND GENERATION RADIANT ENERGY VACUUM DRYER

EnWave Corp. has signed a non-exclusive research and development licence agreement with Merck, known as MSD outside the United States and Canada, through a subsidiary, to enable testing and advancement of the company's radiant energy vacuum (REV) dehydration technology in the pharmaceutical industry. This latest licence builds upon a prior agreement signed in 2012 with Merck that provided for activities on an exclusive basis. With this new arrangement, EnWave can now actively pursue additional research partners in the pharmaceutical industry in an effort to promote eventual widespread adoption of REV technology as a replacement for lyophilization.

Under the terms of the 10-year agreement, both parties have established a work plan for the production of a specifically designed non-GMP REV dryer. EnWave will be eligible for undisclosed milestone payments associated with the progress of the project. Further terms of the agreement were not disclosed. Merck will retain an option to exclusively license REV for the drying of several specific vaccines.

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