- Voyageur Pharmaceuticals is raising C$1 million in a non-brokered private placement.
- Voyager develops contrast media products essential for diagnosing diseases using CT and fluoroscopy to help doctors “actually see the anomalies and things that are going wrong in your body.”
- The company has successfully developed five Health Canada-licensed products.
- Voyageur uses its source of minerals for barium, which is used in contrast media from its 100-per-cent-owned Frances Creek.
Canadian company Voyageur Pharmaceuticals (TSXV:VM) is raising C$1 million in a non-brokered private placement at a price of $0.06 per unit, accompanied by a full warrant at $0.10, valid for three years.
The funds from this private placement are earmarked for critical advancements within the company. Voyager has successfully developed five Health Canada-licensed products, which are now entering the final phase of testing.
These contrast media products, essential for diagnosing diseases using CT and fluoroscopy, are set to be tested in collaboration with a Calgary-based diagnostic company.
Brent Willis, CEO of Voyageur Pharmaceuticals explains that contrast drugs help doctors to “actually see the anomalies and things that are going wrong in your body.”
“It’s the first stage of diagnosing disease, and it’s a massive market, over US$6 billion a year for contrast media,” Willis says.
He also points out that Voyageur has an advantage in using its source of minerals for barium, which is used in contrast media.
The company also has an iodide project in the United States. “Our whole concept is earth to bottle where we extract our own minerals and create our own drugs,” Willis says.
Voyageur will mine barium at its 100-per-cent-owned Frances Creek barium sulphate (barite) project. At present, most of the world’s pharmaceutical barium sulphate is almost entirely synthetically produced, resulting in a less effective imaging quality product. Voyageur’s mined barium provides the opportunity for higher quality imaging products.
The Frances Creek project is designed for minimal environmental impact, operating akin to a surface gravel pit and requiring infrequent mining activity. Willis says the company’s plan is to mine for a couple of months, every three to four years.
Investment opportunity
On the investment opportunity side, Willis points out that they have the lowest cost of ingredients in the market and that the company anticipates moving into revenue generation within the next two months as Voyager advances its drug development program.
Focus on innovative contrast drugs
Voyager’s suite of contrast drugs is designed for comprehensive gastrointestinal examinations, ranging from the esophagus to the rectum. These products will address current shortages in the market, fulfilling a crucial need in medical diagnostics.
Additionally, the company is expanding its offerings to include iodine and gadolinium-based products, which are vital for various imaging techniques, including MRI scans.
For more information check out Voyageur Pharmaceuticals.
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