InvestmentPitch Media Video Discusses Voyageur Pharmaceuticals' MOU with Summit Nanotech to Develop Iodine Extraction Technology and Additions to Scientific Advisory Board - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 9, 2021) - Voyageur Pharmaceuticals (TSXV: VM) (OTC Pink: VYYRF) has signed a non-binding Memorandum of Understanding with Summit Nanotech Corporation. Under the MOU, the companies plan to develop a more sustainable process for the production of iodine medical products used as contrast agents, by leveraging Summit's award winning lithium extraction technology.
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There have been no significant advancements in processing technology in over 20 years in the compounding of iodine medical products. Summit's innovative nanomaterials have the potential to decrease production costs and increase production efficiency, while also creating a lower environmental footprint. By collaborating with Summit and operating a "green" pharmaceutical manufacturing process, Voyageur will contribute to a reduction in worldwide carbon emissions and ensure that their long-term goals align with the United Nations Agenda 2030 Sustainable Development Plan.
Voyageur develops, manufactures and will commercialize high-performance cost-effective imaging contrast agents for the medical radiology marketplace.
Brent Willis, CEO of Voyageur, stated: "By joining with SNT, we are fortifying our concept of fully integrating our operations from earth to bottle. Manufacturing contrast agents that we control at costs that are lower than those of other iodine producers, will enable Voyageur to gain a competitive edge in the marketplace and help to reduce healthcare costs worldwide."
Amanda Hall, CEO of Summit Nanotech, added: "Voyageur's holistic approach of mineral extraction from underground brines for iodine, using sustainable processes, aligns with Summit's existing asset development strategy. By creating new nanomaterials to isolate iodine in tandem with lithium, we are cutting emissions, reducing waste and further contributing to the circular economy."
The company recently completed the formation of its Scientific Advisory Board (SAB), with the additions of two leading doctors in the radiology industry. For more information about the complete SAB please refer to the video.
Brent Willis, CEO, commented: "We are excited to have such preeminent leaders in their fields joining our SAB. Their endorsement to our corporate strategy, of full integration of the radiology drug and device industry, proves Voyageur has a unique strategy to create shareholder value. With our SAB in place, we will begin the R&D and device development stage of our corporate strategy, to bring forward better and new innovative products."
Voyageur's goal is to initially generate positive cash flow from operations using third party GMP pharmaceutical manufacturers in Canada and internationally, with future plans to build all the required infrastructure to become 100% self-sufficient with all manufacturing.
Voyageur owns a 100% interest in three barium sulfate (barite) projects including the Frances Creek property, suitable in grade for the pharmaceutical barite marketplace, with interests in a high-grade iodine, lithium & bromine brine project located in Utah, USA.
The shares are currently trading at $0.095. For more information, please visit www.VoyageurPharmaceuticals.ca, contact Brent Willis, President and CEO, by email at brent@vpharma.ca, or Ron Love, CFO, at 403-818-6086 or by email at ronl@vpharma.ca.
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