Voyageur Pharmaceuticals Achieves Pharmaceutical-Grade Purity Milestone, Advances to Human Clinical Trials

Voyageur Pharmaceuticals Ltd. has confirmed independent laboratory test results showing its natural barium sulfate active pharmaceutical ingredient achieves purity exceeding pharmaceutical-grade requirements. The material, sourced from the company’s Frances Creek barite property in British Columbia, demonstrated 98.8% average purity with results ranging from 98.1% to 99.4%, surpassing the United States Pharmacopeia requirement of 97.5%.

Testing conducted by SGS Laboratories in Mississauga, Ontario confirmed full USP monograph compliance across all parameters, including identification, pH, loss on drying, limit of soluble barium salts, acid-soluble substances, sulfides, and microbiological requirements. The material also showed heavy metal levels significantly lower than USP specifications under USP elemental impurities testing. Processing trials at Sturtevant Inc. using pharmaceutical-grade micronizing equipment produced particle sizes meeting USP criteria, with d50 values of 1.1-1.9 µm and d90 values as low as 2.5 µm under optimal conditions.

With these results, Voyageur advances to stage two of the Alberta Innovates AICE-Market Access Program, which includes manufacturing barium contrast agents for upcoming clinical trials designed by Chief Scientific Officer Dr. Iryna Saranchova. The clinical trial will compare Voyageur’s contrast agents with current commercially available standard-of-care options for gastrointestinal Computed Tomography and fluoroscopic imaging applications. The trial is designed to evaluate investigational agents against both barium-based and iodinated oral contrasts, providing comprehensive assessment of product performance in clinical settings.

‘These results are promising and represent a major de-risking milestone,’ stated Brent Willis, CEO of Voyageur. ‘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.’

The clinical trial outcomes are expected to validate clinical performance of Voyageur’s developing imaging contrasts, strengthen regulatory positioning, and accelerate progress toward market adoption. Full study completion is targeted for the fourth quarter of 2026, with results contributing to FDA licensing applications beginning in the first quarter of 2026. The trial will also inform prefeasibility and final feasibility studies for the Frances Creek project expected by the fourth quarter of 2026.

By developing this domestic resource, Voyageur aims to build a fully integrated supply chain from quarry to finished contrast media, reducing reliance on imported or synthetic materials while improving cost efficiency and supply reliability for hospitals and patients. The company has developed five barium contrast products that have Health Canada licenses and plans to partner with established third-party GMP pharmaceutical manufacturers in Canada to validate products for regulatory agencies worldwide.

Voyageur also announced corporate developments including the issuance of 378,651 Deferred Share Units to directors and a consultant, and the granting of 4,300,000 stock options to directors and officers. The company further announced a proposed issuance of securities for debt, subject to TSX Venture Exchange approval, involving units valued at $100,000 to be issued to an arm’s length third party for financial advisory services. Additional information about the company’s filings is available on SEDAR+.

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