Based in the United Kingdom, AstraZeneca AB is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialization of prescription medicines.

The company focuses on oncology and biopharmaceuticals, including cardiovascular, renal and metabolism, and respiratory and immunology medicines.

The companies will use the material transfer agreement to perform trials on EnWave’s Radiant Energy Vacuum (REV) technology, testing the dehydration of liquid monoclonal antibody formulations.

The REV technology is an innovative, proprietary method for the precise dehydration of organic materials. EnWave has demonstrated REV technology’s commercial viability and is growing its use across several market verticals in the food, cannabis, and pharmaceutical sectors.

According to EnWave, “REV technology allows for rapid, gentle drying allows the active components of vaccines to remain alive but also allows for extreme precision over the final moisture content enabling a long shelf life.”

AstraZeneca will send its proprietary materials to EnWave’s testing facility in Vancouver to conduct initial proof-of-concept trials.

If the trials are successful, the two companies intend to negotiate a more in-depth agreement to facilitate further research and development activities.

EnWave Corporation is a Vancouver-based advanced technology company.

EnWave Corporation (ENW) is up 1.00 per cent on the day, trading at $1.01 per share as of 3:04 pm ET.