Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) announced that it has executed a royalty agreement with its carbon capture and drug development partner Rain Cage Carbon.
The royalty agreement has solidified the exclusive development and license agreement between the two companies, Voyageur said.
The companies intend to leverage Rain Cage’s EDEN carbon capture technology to create innovative nanocarbon/fullerene-based imaging drugs.
“Our Rain Cage partnership is shaping the future of environmentally conscious and cutting-edge pharmaceutical solutions,” Voyageur CEO Brent Willis said.
Meanwhile, Voyageur said it continues to establish its eco-friendly drug pipeline, including barium sulphate contrast media, iodinated contrast media, and carbon contrast media products. It is also developing a new MRI drug utilizing the V@C60 molecule.
Willis highlighted that the company was working to be the world’s first carbon-neutral pharmaceutical company.
“Our groundbreaking carbon drug program may revolutionize the industry, by harnessing captured CO2 as its primary ingredient,” Willis said.
“This innovative approach not only aligns with sustainable practices but also positions Voyageur as a trailblazer in the radiology drug market through seamless vertical integration.”
Voyageur is developing barium and iodine Active Pharmaceutical Ingredients (API) and high-performance, cost-effective imaging contrast agents.