Voyageur Pharmaceuticals Ltd. (TSX.V: VM) (OTC Pink: VYYRF) has engaged Fluor Corporation, a global engineering and construction firm, to complete feasibility studies for two strategic projects that could reshape North America's supply chain for radiology contrast drugs. The studies cover a proposed iodine extraction and production facility in Oklahoma, developed in collaboration with Bayer AG, and Voyageur's planned integrated pharmaceutical manufacturing plant for barium and iodine contrast media products.
The iodine project, part of a milestone-based funding agreement with Bayer announced on February 23, 2026, aims to produce high-purity iodine from iodine-rich oilfield brine using Voyageur's patent-pending Mueller process. The feasibility study for this facility is budgeted at US$2,350,000 and is expected to be completed in early 2027. Subject to successful completion, Voyageur and Bayer may advance the project into a subsequent phase under an offtake-linked production financing arrangement, where Bayer could provide capital financing while Voyageur operates the project.
The second study focuses on Voyageur's integrated iodine and barium contrast drug manufacturing facility, which would combine high-purity barite from the company's 100%-owned Frances Creek deposit in British Columbia with domestically sourced iodine. This facility aims to create the first fully integrated "Earth-to-Bottle" contrast media platform in North America. A final budget for this study will be determined after testing of Voyageur's proprietary Streamline iodine drug manufacturing process.
Fluor's expertise in process engineering, project economics, and large-scale industrial facility design is expected to ensure both studies meet the technical, environmental, and economic standards required for project financing and regulatory approvals. The studies are slated for completion in early 2027, paving the way for a potential construction decision later that year.
Voyageur's CEO Brent Willis stated, "With the iodine initiative and Fluor's technical expertise, we are moving decisively toward securing North America's supply chain for critical medical imaging drugs. These feasibility studies represent a major milestone in our strategy to become the first fully integrated producer of both barium and iodine contrast agents on the continent."
The company has already made progress with its Health Canada-approved barium contrast products generating commercial sales since August 2025. Voyageur's strategy of owning its raw material sources and proprietary processing technologies is expected to deliver lower operating costs and create a reliable, North American-based supply chain, reducing geopolitical, logistics, and shortage risks for hospitals and patients.
For more information, visit https://voyageurpharmaceuticals.ca. The original press release is available on www.newmediawire.com.
