Voyageur Pharmaceuticals Ltd. (TSX.V: VM) (OTC Pink: VYYRF) announced it has engaged Fluor Corporation, a global engineering and construction firm, to complete feasibility studies for two strategic projects that will advance the Company's vertically integrated North American supply chain for radiology contrast drugs. The studies cover an iodine extraction and production facility in Oklahoma, developed in collaboration with Bayer AG, and Voyageur's planned pharmaceutical manufacturing plant for barium and iodine-based contrast media products.
The iodine project feasibility study, budgeted at US$2,350,000, focuses on producing high-purity iodine from iodine-rich oilfield brine using Voyageur's patent-pending Mueller process, developed under a milestone-based funding agreement with Bayer. The integrated drug manufacturing facility study will evaluate a plant expected to combine Voyageur's high-purity barite from its 100%-owned Frances Creek barium deposit in British Columbia with domestically sourced iodine, creating the first fully integrated "Earth-to-Bottle" contrast media platform in North America. The studies are expected to be completed in early 2027, potentially leading to a construction decision later that year.
"We are thrilled to partner with Fluor to de-risk and accelerate these projects," said Brent Willis, CEO of Voyageur Pharmaceuticals. "With the iodine initiative and Fluor's technical expertise, we are moving decisively toward securing North America's supply chain for critical medical imaging drugs." Fluor's expertise in process engineering and large-scale industrial facility design will ensure both studies meet the highest technical, environmental, and economic standards required for project financing and regulatory approvals.
The feasibility studies build on Voyageur's recent progress, including Health Canada-approved barium contrast products already generating commercial sales and the ongoing Bayer collaboration. Subject to successful completion of the feasibility study and further agreement, Voyageur and Bayer may advance the project into a subsequent phase under an offtake-linked production financing arrangement, where Bayer may provide capital financing while Voyageur operates the project.
Voyageur Pharmaceuticals is focused on becoming a low-cost, vertically integrated producer of barium and iodine Active Pharmaceutical Ingredients (APIs) and finished imaging contrast agents. The Company owns 100% of the high-grade, metal-free Frances Creek barite project, securing a domestic source of pharmaceutical-grade barium sulfate. Its patent-pending Mueller process enables low-cost iodine extraction from mineral brine, while proprietary Streamline manufacturing technology processes that iodine directly into finished drugs. This end-to-end ownership is expected to deliver lower operating costs and create a reliable North American supply chain, reducing geopolitical and shortage risks for hospitals and patients in the United States and Canada.
For further information, visit Voyageur Pharmaceuticals.
