Voyageur Pharmaceuticals Ltd. (TSX-V: VM)(OTC Pink: VYYRF) announced independent laboratory test results confirming that its barium sulfate active pharmaceutical ingredient (API) from the Frances Creek barite property in British Columbia meets pharmaceutical-grade purity standards. Testing by SGS Laboratories in Mississauga, Ontario, showed barium sulfate assay results ranging from 98.1% to 99.4%, with an average of 98.8%, exceeding the USP monograph requirement of 97.5%. All samples passed complete USP monograph tests, including identification, pH, loss on drying, limit of soluble barium salts, acid-soluble substances, sulfides, and microbiological requirements. Elemental impurities testing revealed heavy metal levels significantly lower than USP specifications. The processed barite achieved particle sizes of 1 micron and 10 microns, with d50 values of 1.1-1.9 µm and d90 values as low as 2.5 µm under optimal conditions, demonstrating good flowability and 100% yield.
This milestone allows Voyageur to advance to stage two of the Alberta Innovates AICE-Market Access Program, which includes a clinical trial in patients using the company's barium contrast agents. The trial will compare Voyageur's contrasts with current standard-of-care options for gastrointestinal Computed Tomography and fluoroscopic imaging. Chief Scientific Officer Dr. Iryna Saranchova designed the trial in accordance with Health Canada standards and internationally recognized regulatory requirements. 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.' Successful study outcomes are expected to validate clinical performance, strengthen regulatory positioning, and accelerate progress toward market adoption. Full study completion is targeted for the fourth quarter of 2026.
Voyageur is building a fully integrated supply chain from quarry to finished contrast media, reducing reliance on imported or synthetic materials. The company also announced stock option and deferred share unit grants, including 378,651 DSUs to directors and a consultant, and 4,300,000 stock options to directors and officers at an exercise price of $0.1125 per share for 10 years. Additionally, it plans to issue units to an arm's length third party to settle $100,000 in debt, subject to TSX Venture Exchange approval. For more information, visit Voyageur Pharmaceuticals.
