Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) announced that it has signed a master services agreement with Applied Pharmaceutical Innovation (API), an industry-funded not-for-profit organization which drives life sciences commercialization, to accelerate the development, manufacturing, and commercialization of Voyageur’s imaging contrast agents.
The company said it plans to leverage API’s scientific and pharmaceutical expertise to facilitate regulatory approvals, specifically targeting the US Food and Drug Administration (FDA) and Health Canada, and fast-track the market entry of its contrast imaging products.
The partnership aims to accelerate the development and registration of the vanadium fullerene molecule for magnetic resonance imaging (V@C60 MRI drug); develop novel fullerene imaging products for targeted drug delivery within the body with a focus on applications in oncology; and introduce a suite of new barium contrast media products to displace current products in the market.
It also seeks to expand Voyageur’s iodine contrast media product pipeline, including the potential development of fullerene iodine products, and develop a carbon 60-based nutraceutical health supplement.
"Our vision is to become the world's first company capable of creating new carbon-based drugs from captured CO2, ensuring carbon-neutral pharmaceuticals,” Voyageur CEO Brent Willis said in a statement.
“This strategic alliance with API will accelerate Voyageur's development programs, with a primary focus on creating a groundbreaking carbon-based MRI drug and advancing our iodine contrast media product pipeline."
API CEO Andrew MacIsaac added: "We are thrilled to embark on this groundbreaking collaboration with Voyageur, advancing healthcare through the commercialization of mineral-based active pharmaceutical ingredients for the medical imaging market.”
Voyageur Pharmaceuticals is a Canadian public company at the forefront of barium, iodine, and carbon-active pharmaceutical ingredients and high-performance, cost-effective imaging contrast agents.