Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) is getting started on its Frances Creek barium contrast media project, bolstered by a $600,000 grant from Alberta Innovates.
With $350,000 already disbursed, the company has begun processing high-grade ore samples from its Frances Creek property to produce natural, high-purity pharmaceutical-grade barium sulfate, which serves as the Active Pharmaceutical Ingredient (API) in Voyageur's barium contrast media product development program.
The Alberta Innovates grant aims to accelerate a comprehensive clinical performance evaluation, comparing the natural Frances Creek barium contrast media against existing synthetic barium and iodinated contrast media solutions.
Studies will involve human subjects undergoing computed tomography (CT) and fluoroscopy examinations.
The research looks at quality using Frances Creek barium sulfate, potentially enhancing Voyageur's market positioning and driving future sales growth, the company said in a statement.
Brent Willis, CEO, of Voyageur called it a “key milestone in demonstrating the efficacy and economic viability” of Frances Creek.
“By producing Health Canada-licensed barium contrast media with natural barium, Voyageur aims to offer cost-effective and high-quality product lines, ensuring a secure supply chain for the radiology market that is currently experiencing supply constraints.," Willis said.
Phase 1 testing
Voyageur Pharmaceuticals began Phase 1 testing of its barium contrast media in human subjects on January 13 to evaluate efficacy and safety.
Four of the five formulations have shown promising results, while a reformulated fifth product is undergoing final validation.
Pending positive outcomes, testing is expected to conclude by April, with regulatory approval paving the way for a market launch in Canada.