Voyageur Pharmaceuticals Ltd. (TSX-V: VM)(OTC Pink: VYYRF) announced that independent laboratory tests have confirmed its barium sulfate active pharmaceutical ingredient (API) from the Frances Creek barite property in British Columbia meets pharmaceutical-grade purity, achieving an average of 98.8% BaSO4, exceeding the USP monograph requirement of 97.5%. The testing, conducted by SGS Laboratories, included full USP compliance, successful micronization to 1-micron particle sizes, and heavy metal levels significantly below specifications. These results mark a major de-risking milestone, allowing Voyageur to advance to stage two of the Alberta Innovates AICE-Market Access Program, which includes manufacturing batches for a clinical trial in patients.
The upcoming clinical trial, designed by Chief Scientific Officer Dr. Iryna Saranchova in accordance with Health Canada standards, will compare Voyageur's contrast agents with current standard-of-care options for gastrointestinal Computed Tomography and fluoroscopic imaging. The trial aims to validate clinical performance and strengthen regulatory positioning for Health Canada and FDA approvals. Successful outcomes are expected to accelerate market adoption and support the Company's vertically integrated supply chain, from quarry to finished contrast media, reducing reliance on imported synthetic materials.
CEO Brent Willis stated, "These results are promising and represent a major de-risking milestone. We believe we have proven that our natural barite resource delivers high chemical purity, ideal particle size after micronization, and full USP compliance. The upcoming clinical trial in patients is the final bridge to using our Frances Creek API in our Health Canada-approved contrast products." Full study completion is targeted for the fourth quarter of 2026.
In addition to the clinical progress, Voyageur announced the grant of 378,651 Deferred Share Units (DSUs) to directors and a consultant, and 4,300,000 stock options to directors and officers, subject to TSX Venture Exchange approval. The DSUs are valued at approximately $0.17573 per unit, and the options are exercisable at $0.1125 per share for 10 years. The Company also plans to issue units for debt, consisting of one common share and one warrant at a deemed price of $0.1125 to settle $100,000 in financial advisory services.
Voyageur's strategy focuses on becoming the first vertically integrated company in the radiology contrast media drug market, controlling costs from raw material to final production. The Company owns a 100% interest in the Frances Creek barite project, which management believes can replace synthetic products with higher quality, lower cost imaging agents. For more information, visit https://voyageurpharmaceuticals.ca.
This news release contains forward-looking statements subject to risks and uncertainties, including those described in the Company's filings on SEDAR+ at www.sedarplus.ca.
