VM:CC - Voyageur Pharmaceuticals Achieves Milestone in the Development of HDXBa Barium Contrast Media

(TheNewswire)

Calgary, Canada – TheNewswire - September 14, 2023 - Voyageur Pharmaceuticals Ltd . ( TSXV:VM ) ( USA : VYYRF) ("Voyageur" orthe "Corporation"), a provider of innovative medical imagingsolutions, is pleased to announce the completion of formulation andthe engineering for production processing for the dry powdered bariumcontrast media product HDXBa TM . HDXBa TM is an oralcontrast agent for suspension used as an oral drug for use indouble-contrast radiographic examinations of the esophagus, stomach,and duodenum. Voyageur has a Health Canada approved license forHDXBa TM . HDXBa has been formulated to meet FDAdrug guidelines.

Voyageur launched its first oral contrast agent SmoothXto the Canadian market, and it was well received for future use. Dueto the sole source environment in Canada for barium contrast agents,clients have asked Voyageur to produce a full suite of products toallow them to make a seamless transition to Voyageur's product line.In response to client demand, Voyageur is currently working withAlberta Veterinarian Laboratories ( AVL ) and itssubsidiary Solvet https://solvet.ca/ , to accelerate the formulation and testing of the remainingproducts that the market requires to ensure supply chain security forour clients. AVL is currently formulating the next 3 products withHealth Canada licences; MultiXBa, MultiXs and MultiXthin . Uponcompletion of our full suite of products, Voyageur will beginpenetrating the Canadian radiology market.

Market Update

The radiology pharmaceutical sector has been plagued bysupply chain vulnerabilities over the past few years, which has beenconfirmed by https://www.ashpfoundation.org/. Voyageur is movingforward to become a fully vertically integrated radiology drug companyby domestically producing its own minerals for radiology drugs,including barium sulfate, iodine, and carbon fullerene. Voyageur owns100% of the Frances Creek barium sulfate project located in BritishColumbia, Canada. Upon production of Frances Creek barium sulfate,Voyageur estimates its ingredient cost of barium sulfate will dropsignificantly, allowing for highly competitive pricing that willproduce highly profitable revenue streams. This has been verified by aPreliminary Economic Assessment (PEA) published by SGS Canada. Byproducing domestically, the industry will no longer be reliant onforeign supply chains, allowing for North American radiologypharmaceutical consumers to potentially achieve a reliable securesupply chain.

Voyageur completed a PEA that valued the Frances Creekbarium sulfate project with an NPV of $344 million and generating $839million of pre-tax revenue over 10 years. Significantly, Voyageurpossesses the distinction of being one of the few providers ofcommercial natural pharmaceutical grade barium sulfate ona global scale, as our current supplier from China, has confirmed theunavailability of such a product. Voyageur is currently importingsynthetic man-made barium sulfate to initiate sales due to lack ofavailable supply of low cost natural barium sulfate.

For more information about SmoothX and other imagingsolutions offered by Voyageur, please visit https://voyageurpharmaceuticals.ca/ and contact Ethan Mohan, Voyageur Sales Manager at +1-403-803-0427 or ethan@vpharma.ca .

About Voyageur PharmaceuticalsLtd.

Voyageur, a Canadian public company trading under thesymbol VM on the TSX Venture Exchange, is in development of barium,iodine and carbon Active Pharmaceutical Ingredients (API) andhigh-performance, cost-effective imaging contrast agents. With astrategic focus on vertically integrating the barium, iodine andcarbon contrast imaging market, Voyageur aims to become a key playerby producing its own barium, iodine, and fullereneminerals.

Our business plan is set to generate cash flow bypartnering with established third-party GMP pharmaceuticalmanufacturers in Canada, ensuring the validation of our products byregulatory agencies worldwide. As we solidify our presence in themarket, we will transition into a high-margin domestic manufacturer ofradiology drugs, further expanding our revenue streams.

Voyageur is committed to sustainability andenvironmental stewardship. We envision a future where carbonneutrality is the norm, and to achieve this, we are buildingstate-of-the-art carbon-neutral infrastructure. By investing in carbon neutral energy sources and sustainablemanufacturing practices, we aim to become 100% self-sufficient acrossall our manufacturing activities. Our commitment to the environmentsets us apart as a pioneer in the industry.

At the core of our operations, Voyageur owns a 100%interest in two barium sulphate (barite) projects, including theFrances Creek and Pedley Mountain property. Additionally, Voyageurholds interests in a high-grade iodine, lithium, and bromine brineproject situated in Utah, USA, further bolstering our position in theindustry. Voyageur owns a 100% interest in two battery mineralprojects which focus on copper/zinc development.

Our ambitious vision is to become the first verticallyintegrated, carbon-neutral company in the imaging contrast media drugmarket. By controlling all primary input costs, from the sourcing ofraw materials to the final production, we plan to ensure unmatchedquality and cost efficiency. We embody the motto of " From the Earth to the Bottle ," highlighting our commitment to responsible sourcingand manufacturing practices.

About Alberta VeterinarianLaboratories / Solvet

AVL / Solvet is a Canadian company researching andmanufacturing productsin Canada to support the Canadian animal healthindustry. In 2015, Dr. Merle Olson created Solvet, a division of AVLaimed at supporting the introduction of the newly patent-pendingMeloxicam Oral Suspension and marketing other products throughveterinarians. Solvet products are driven by veterinarian requests,and technical support in the field is provided by practicingveterinarians.

The Solvet team is also devoted to coordinating animalresearch studies in order to register even more products requested byCanadian veterinarians and producers. Solvet is proud to offer acomplete array of production services including manufacturing, producttesting (both raw materials and finished product), warehousing,distribution, import/export and research and development. Today,Solvet products are manufactured in a state-of-the-art facility thatis the only GMP (Good Manufacturing Practice) Animal HealthPharmaceutical Plant in Alberta.

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