Voyageur Minerals' Joint Venture Company ImagingX Pharmaceuticals, Submits its First of Three Barium Contrast Products to Health Canada for Registration
CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Voyageur Minerals Ltd. (TSX.V:VM) (the “Company” or “Voyageur”) is pleased to announce that its joint venture company ImagingX Pharmaceuticals Ltd. (“ImagingX”) has submitted its first product for registration with Health Canada. Health Canada is a federal regulatory agency for approval of drugs, equivalent to the FDA in the USA.
The first product is a barium sulfate oral suspension used in commuted tomography scans (CT) of the abdomen to delineate the gastrointestinal tract in adult and pediatric patients. Due to its high molecular density, it is opaque to x-rays and therefore, acts as a positive contrast agent for radiographic studies.
ImagingX is in the process of adding two other barium contrast products for registration. A total of three barium sulfate suspension products will be registered with Health Canada. Upon receipt of Health Canada registration, ImagingX will begin marketing and sales of the products across Canada. ImagingX's market strategy is to sell into the Canadian market, followed by the USA and international healthcare markets.
About Voyageur
Voyageur Minerals Ltd. is a Canadian public company listed on the TSX Venture Exchange under the trading symbol VM. Voyageur is focused on the development of barite and iodine API minerals for the pharmaceutical market.
Near-term cash flow will be achieved through its recently signed joint venture with a world-class pharmaceutical manufacturer, Chief Medical Supply Ltd, that contemplates turn key manufacturing, bottling and distribution of barium and iodine radiopharmaceuticals for MRI, X-ray and CT scan applications.
Voyageur owns 100% interest in three barium sulfate ("Barite") deposits including two properties suitable in grade for the industrial barite market place, including interests in a high-grade iodine, lithium & bromine brine project in Utah, USA.
About ImagingX Pharmaceuticals
Voyageur formed ImagingX Pharmaceuticals Ltd (IXP), a gross revenue sharing joint venture company with Chief Medical Supply Ltd. (CMS). CMS provides high quality, competitively priced pharmaceuticals and hemodialysis products to pharmacies and hospitals across Canada. Operating from both its 33,000 square-foot plant in Calgary, Alberta and its approximately 90,000 square-foot facility in Mississauga, Ontario, CMS can manufacture & supply products coast-to-coast. Regulated by Health Canada and complying with the Canadian Food and Drug Act, CMS has both drug and medical device establishment licenses issued by Health Canada.
IXP employs a strategy of selling competitively priced radiopharmaceuticals for MRI, X-ray and CT scan applications. IXP main focus is barium and iodine based products. The joint venture obligations are for Voyageur to provide the minerals for the products and CMS manufactures the products. The partners split gross revenue 50%/50%. By partnering together, IXP's strategy is to be highly competitive by controlling all input costs from the Earth To The Bottle.
For further information, please contact:
Steven R. Livingston
Cell: (403) 471-1659
Office: (587) 779-6166
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