VANCOUVER, British Columbia, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Voyageur Pharmaceuticals (TSXV:VM) (OTCPink:VYYRF) has completed the design of its carbon neutral pharmaceutical facility resulting in an accelerated revenue generation timeline for its Frances Creek barium sulfate project. The timeline for construction of the manufacturing and R & D facility, to be located in Alberta, will take an estimated 18 months to complete, subject to financing, a shorter timeframe than originally forecast in the PEA presented by SGS Canada in February 2022.
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ACH Engineering estimated the total capital cost to be CDN$30 million, excluding land, also less than originally estimated, which would provide the capability to process approximately 5,000 tonnes per year of US Pharmaceutical grade barium sulfate concentrate from the company’s Frances Creek property.
The state-of-the-art laboratory and R&D drug development wing will enable in house testing and innovation. The sterile GMP manufacturing facility, designed to produce revenue streams from pharmaceutical barium and iodine contrast media products for the radiology drug market, is expected to produce additional revenues from industrial barite sales and will produce carbon fullerene allotropes for a new drug development program.
Rain Cage Carbon, a private carbon capture company located in Calgary, has a proven technology that removes CO2, along with other pollutants from hydrocarbon exhaust systems, such as the off grid power plant exhaust stream at Voyageur’s new facility. Rain Cage converts the CO2 into oxygen and carbon and creates fullerene allotropes and nanotubes that can be applied to a wide variety of products to enhance strength, durability and with contrast materials, ease of delivery. Rain Cage and Voyageur are planning to produce a significant quantity of new commercial carbon fullerene molecules for contrast media applications in medical imaging, each year from the captured waste CO2.
Fullerene, an allotrope of carbon with atoms, connected to form a closed, or partly closed mesh, are biocompatible with the nanostructures capable of being loaded with materials of medical interest for diagnostic and therapeutic medicine. Medical reports state that fullerene-based MRI contrast agents have delivered a gain of 500-fold sensitivity versus conventional contrast agents.
In parallel, Voyageur will import iodine API (active pharmaceutical ingredient) and utilise a sterile injectable blow fill seal vial line to manufacture iodine contrast media products as phase 1, to be followed by phase 2, which will fully integrate iodine contrast manufacturing which will focus on producing iodine from mineral brine water.
The world is currently facing a contrast media shortage as a significant amount of iodinated contrast media is supplied from Shanghai, China which has suffered from shut-downs as a result of COVID-19 and more than 50 million diagnostic imaging examinations using contrast media are conducted annually. Voyageur’s objective is to create a fully integrated, secure, environmentally responsible supply chain of barium, iodine, and fullerene contrast media for the North American and global markets.
The company owns a 100% interest in three barium sulphate (barite) projects including the Frances Creek property, suitable in grade for the pharmaceutical barite marketplace, with additional interest in a high-grade iodine, lithium & bromine brine project located in Utah, making the company unique, as it sources its main ingredients from its own mineral deposits
Voyageur is moving forward with its business plan of becoming the only fully integrated company in the radiology medical field, by controlling all primary input costs under the motto of: "From the Earth to the Bottle".
The shares are currently trading at $0.09. For more information, please visit www.VoyageurPharmaceuticals.ca, contact Brent Willis, President and CEO, by email at brent@vpharma.ca, or Al Deslauriers, CFO, at albertl@vpharma.ca.
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