VM:CC - Voyageur Receives $600K Grant from Alberta Innovates for Product Development

(TheNewswire)

Voyageur receives $600,000 infunding through Alberta Innovates AICE-Market Access Program

Calgary, Alberta, Canada – February 5, 2025 – TheNewswire - VoyageurPharmaceuticals Ltd. (TSX.V:VM) (OTC Pink:VYYRF) (“ Voyageur ” or the“ Company ”) is excited to announce its receipt of a $600,000 grantfrom Alberta Innovates (“ Alberta Innovates ”), a provincial Crowncorporation and Alberta’s largest research and innovationcorporation, through the Alberta Innovates AICE-Market Access Program.This grant is aimed at supporting the commercialization and marketaccess of emerging health technologies in Alberta.

The funds will be allocated to a pivotal studyassessing the efficacy of Voyageur’s Frances Creek barium sulfateagainst competing products. Particular emphasis will be placed oncomparing the performance of Frances Creek natural barite withsynthetic barium precipitate and oral iodine products.

Currently, synthetic barium precipitate and dilutediodine contrast media are standard in the fluoroscopy and ComputedTomography (“ CT ”) examination markets. Voyageur aims to demonstrate thesuperior imaging quality of natural barium sulfate, attributed to itswider particle distribution. This research is intended to enhance thefinancial viability of the Frances Creek project and bolster marketingstrategies for increased sales growth.

“Alberta Innovates funding enables VoyageurPharmaceuticals to bring their barium-based products to market. A newsource of barium could address critical supply shortages and enablemore cost-effective diagnostic imaging.   This project leveragesCanada’s natural resources and Alberta’s health productdevelopment expertise to improve patient outcomes, lower costs, andensure that accurate diagnostic imaging supports the highest standardsof care for Albertans.”  Tim Murphy, Vice President, Health,Alberta Innovates.

Brent Willis, President, CEO, and Director of Voyageur,stated, “"We are thrilled to receive this significant grantfrom Alberta Innovates, which underscores the potential of our FrancesCreek barium contrast project. This funding not only supports ourresearch into increasing imaging quality of natural barium sulfate butalso strengthens our position in the market. By leveraging Alberta'sexpertise and resources, we are poised to address critical supplyshortages and enhance diagnostic imaging standards. Our commitment toinnovation and growth remains steadfast as we continue to advance ourlicensed products towards market launch, ensuring long-term value forour shareholders."

Strategic Growth Update: VoyageurAdvances with Five Licensed Barium Contrast Products

As initially announced on January 13, 2025, Voyageur iscurrently progressing through the testing and refinement stage for itsfive Health Canada licensed barium contrast products. Voyageur iscontinuing to make progress as it gears up for market launch. Voyageuris developing the go-to-market plan and paving the way for sales whichwill be initiated through third-party barium sulfate imports andcontract manufacturing groups. The revenue expected from these effortsis intended to fund the advancement of the Frances Creek bariumcontrast project. According to the preliminary economic assessment bySGS Canada as announced on January 11, 2022 ( PEA ) once operational, theFrances Creek project is projected to deliver substantial cost savingsand achieve high gross margins.

About Alberta Innovates

Alberta Innovates manages nearly 1,300 projects in a portfolio valued at$1.33 billion. It works with innovators in all sectors of the economyand all corners of the province to drive entrepreneurship, appliedresearch and industry development. With its impact-based fundingprograms and services, it is transforming energy systems for anet-zero world, promoting the responsible use of land and water,leveraging provincial strengths in agriculture, and contributing toimproved health and well-being by harnessing digital tech and data. Itis also advancing emerging technologies and strengtheningentrepreneurship for a strong and diversified economy. From funding tocommercialization, it is Alberta’s innovation engine.

Learn how Alberta Innovates.

About Voyageur PharmaceuticalsLtd.

Voyageur, a Canadian public company trading under thesymbol VM on the TSXV, is in development of barium and iodine ActivePharmaceutical Ingredients (API) and intends to offerhigh-performance, cost-effective imaging contrast agents. With astrategic focus on vertically integrating the barium and iodinecontrast markets, Voyageur aims to become a key player by producingits own barium, iodine, and new endohedral fullerene drugs (C60).Voyageur has developed five barium contrast products that have HealthCanada licenses.

Voyageur's business plan is set to generate cash flowby partnering with established third-party GMP pharmaceuticalmanufacturers in Canada thereby ensuring the validation of itsproducts by regulatory agencies worldwide. As Voyageur solidifies itspresence in the market, it plans to transition into a high-margindomestic manufacturer of radiology drugs, further expanding itsrevenue streams.

At the core of its operations, Voyageur owns a 100% interest in the Frances Creek barium sulphate (barite) project.Currently, the world’s pharmaceutical barium sulphate is almostentirely synthetically produced which management believes results in aless effective imaging quality product. Voyageur’s Frances Creekresource boasts a rare and exceptional grade mineral suitable for thepharmaceutical marketplace that Voyageurbelieves will replace the current synthetic products with higherquality lower cost imaging products.

Voyageur's ambitious vision is to become the firstvertically integrated company in the radiology contrast media drugmarket. By controlling all primary input costs, from the sourcing ofraw materials to final production, Voyageur intends to ensure qualityand cost efficiency. With its approach, it embodies the motto of" From the Earth to theBottle ," highlighting Voyageur's commitmentto responsible sourcing and manufacturing practices.

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Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisnews release.

Cautionary Statement Regarding “Forward-Looking”Information

Thisnews release may contain certain forward-looking statements andforward-looking information (collectively, "forward-lookingstatements"), including without limitation, the use of the fundsgranted to the Company by Alberta Innovates; the testing, refining,market launch, sales and revenue from Voyageur's five barium contrastproducts; and the Company’s business plan. Forward-lookingstatements normally contain words like "will","intend", "anticipate", "could","should", "may", "might","expect", "estimate", "forecast","plan", "potential", "project","assume", "contemplate", "believe","shall", "scheduled", and similar terms.Forward-looking statements are not guarantees of future performance,actions, or developments and are based on expectations, assumptions,and other factors that management currently believes are relevant,reasonable, and appropriate in the circumstances. Although managementbelieves that the forward-looking statements herein are reasonable,actual results could be substantially different due to the risks anduncertainties associated with and inherent to Voyageur's business.Additional material risks and uncertainties applicable to theforward-looking statements herein include, without limitation, theimpact of general economic conditions, and unforeseen events anddevelopments. This list is not exhaustive of the factors that mayaffect the Company's forward-looking statements. Many of these factorsare beyond the control of Voyageur. All forward-looking statementsincluded in this news release are expressly qualified in theirentirety by these cautionary statements. The forward-lookingstatements contained in this news release are made as at the datehereof, and Voyageur undertakes no obligation to update publicly or torevise any of the included forward-looking statements, whether as aresult of new information, future events, or otherwise, except as maybe required by applicable securities laws. Risks and uncertaintiesabout the Company's business are more fully discussed under theheading "Risk Factors" in its most recent filings. They areotherwise disclosed in its filings with securities regulatoryauthorities available on SEDAR+ at www.sedarplus.ca.

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