Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) announced its first commercial sale, marking the Canadian company’s transition into revenue-generating operations in the radiology contrast media sector.
The initial C$89,000 purchase order was placed by a leading Canadian radiology provider and includes the full suite of Voyageur’s Health Canada–approved barium contrast agents, the company said in a statement Wednesday.
First deliveries are scheduled to begin in August via the company’s manufacturing partner in Calgary.
“This sale marks the beginning of Voyageur’s commercial era,” said Brent Willis, Voyageur’s CEO. “It confirms market demand for our domestically produced contrast agents and sets the stage for accelerated revenue growth as we scale operations and distribution.”
Barium contrast agents are commonly used in gastrointestinal imaging due to their safety and cost advantages compared to iodinated alternatives.
Voyageur’s approved product lineup includes SmoothX for CT imaging, SmoothHD and SmoothLD for upper and lower gastrointestinal studies, and VisionHD and VisionLD powdered suspensions for double and single contrast applications, respectively.
The company plans to expand distribution across Canada, leveraging its Frances Creek Project in British Columbia. The site holds a 120,000-tonne pharmaceutical-grade barium sulfate resource, valued at C$344 million and expected to support production for 50 years. Production costs are estimated at approximately C$650 per tonne, the company noted.
Voyageur said it also plans to implement carbon capture technologies to support its sustainability goals.
Shares of Voyageur moved 5.4% higher in Toronto to reach C$0.20.