- 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.
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