Voyageur Pharmaceuticals Ltd. (“company”, “VM”), holder of three barium projects in B.C., including one with a resource estimate, and iodine properties in Utah, has a Joint Venture (“JV”) with privately held Chief Medical Supplies Ltd. (a Canadian pharmaceutical manufacturing and distribution company) to manufacture and market contrast agents (made with barium and/or iodine compounds) used for radiology digital imaging in the healthcare industry.
Contrast agents are administered to a patient prior to using an imaging technology (such as X-ray / MRI / CT scan) to increase an image’s contrast by delineating body structures in which the contrast agent is localized.
“From the Earth to the Bottle” – There is currently no contrast agent manufacturer in the world that owns and controls its active pharmaceutical ingredient (“API”) – the main ingredient feedstock. VM’s JV intends to be the first vertically-integrated contrast agent supplier, mining its own barium and iodine. Management estimates that their JV will have a significant ingredient cost advantage over its competitors if they are able to produce barium and iodine from their own projects.
The JV is expected to commence marketing and sales of its first set of products across Canada, upon receipt of Health Canada approvals by Q1-2020. Barite and iodine for the products will be sourced from third-parties until one of VM’s API projects is advanced to production.
The resource estimate on VM’s barite project in B.C. is estimated to have potential to supply barite for 30+ years.
