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Voyageur Pharmaceuticals signs MOU to develop fullerene contrast agents for medical imaging applications and carbon capture technology

Published: 09:00 24 Oct 2022 EDT

Voyageur Pharmaceuticals Ltd -
Fullerene-based contrast agents can potentially allow for much earlier detection of diseases as well as potentially provide a safer delivery mechanism

Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) said it has signed a memorandum of understanding (MOU) with Rain Cage Carbon Inc (RCC), to enter into a development agreement to jointly develop new commercial fullerene-based contrast agents for use in medical imaging.

Fullerene-based contrast media drugs can potentially allow for much earlier detection of diseases as well as potentially provide a safer delivery mechanism compared to current drugs that are in the market.

“Voyageur has been on a multi-year quest to find a high quality, dependable supply of fullerenes for its radiology contrast media drug pipeline,” said Brent Willis, the company's CEO, in a statement.

WATCH: Voyageur Pharmaceuticals in the right space at the right time with its 'earth-to-bottle' model

“We have reviewed several products and companies in that effort. Rain Cage Carbon is by far, the most advanced we have found. RCC has revolutionised the carbon capture market by creating high-volume low-cost fullerene allotropes, as a biproduct of their carbon dioxide (CO2) capture process. 

“We now have another potential mineral-based contrast, that we can develop to become fully integrated, from the exhaust stream of hydrocarbon engines, into the vial of an injectable drug,” he added.

Fullerenes are biocompatible and the nanostructures are capable of being loaded with materials of medical interest for diagnostic and therapeutic medicine.

The new innovative mineral-based radiographic drugs that Voyageur and RCC will be focused on patenting include iodine, gadolinium, and iron oxide-based fullerene contrast agents, the company said.

Voyageur will deploy a RCC carbon capture unit at its new pharmaceutical manufacturing facility, scheduled for construction in 2023, to help it achieve its goal to become a low carbon emitter in line with the 2030 U.N. Sustainable Development Goals and Canadian investor Environmental, Social & Governance goals (ESG).

Voyageur is focused on the development of barium, iodine, and carbon Active Pharmaceutical Ingredients (API) and high-performance cost-effective imaging contrast agents for the medical radiology marketplace. It will initially generate positive cash flow from operations using third-party GMP pharmaceutical manufacturers in Canada. Ultimately, the company has plans to build all the required infrastructure to become a 100% self-sufficient manufacturer.

Voyageur owns a 100% interest in three barium sulphate (barite) projects including the Frances Creek property, suitable in grade for the pharmaceutical barite marketplace, with additional interest in a high-grade iodine, lithium and bromine brine project located in Utah, USA. Voyageur is moving forward with its business plan to become the only fully integrated company in the radiology contrast media field, by controlling all primary input costs under the motto of 'From the Earth to the Bottle'.

RCC is a private Canadian company located in Calgary, Alberta that has developed a unique carbon capture process. It is focused on energy transformation allowing people, governments, financial institutions, and corporations to see and profitably surpass their environmental and social goals.

Contact the author at jon.hopkins@proactiveinvestors.com

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