Voyageur Pharmaceuticals Evaluates Three U.S. Sites for Integrated Iodine and Barium Contrast Media Manufacturing Facility

Voyageur Pharmaceuticals Ltd. (TSX-V: VM) (OTC Pink: VYYRF), a Canadian developer of pharmaceutical-grade barium and iodine contrast media, announced it is evaluating three potential locations in the United States for its planned integrated iodine and barium contrast drug manufacturing facility. The company is conducting a comprehensive technical, regulatory, economic, and logistical analysis of candidate sites, with key evaluation criteria including proximity to iodine brine sources, logistics, infrastructure, access to skilled labor, and the strength of government incentive packages.

Strong candidate locations have been identified in Oklahoma and Texas due to their proximity to Voyageur’s iodine extraction initiatives in Oklahoma’s Anadarko Basin, robust transportation infrastructure, access to skilled labor and municipal water supply, reliable infrastructure, and a competitive business climate with low taxes and cost-effective land and energy. The company is actively engaging with economic development authorities across multiple U.S. jurisdictions and will select the final site based on the most attractive overall combination of factors, with a strong emphasis on incentive and support packages.

The pharmaceutical manufacturing facility will receive concentrated iodine liquor produced through Voyageur’s proprietary closed-loop Streamlined Iodine Process from its Oklahoma brine operations, together with high-purity barite from the Frances Creek project. Unlike conventional contrast media manufacturers that depend on imported iodine flakes or intermediates and energy-intensive synthetic precipitated barium sulfate, this integrated GMP campus will combine on-site iodine-to-API synthesis with barite upgrading into USP-grade material and sterile injectable manufacturing. Management believes this will deliver the first fully domestic, vertically integrated supply chain for both iodinated and barium contrast agents at materially lower cost, with superior sustainability and supply security for U.S. hospitals, government customers, and international distribution.

Key anticipated project highlights include cost leadership through vertical integration, significant opportunities for U.S. federal and state funding and incentives, the creation of 150–250 direct high-skilled positions, and substantial annual economic activity and local tax revenue. The facility is expected to enable efficient management of iodine and barium contrast production while supporting iodine supply for the company’s collaboration with Bayer on the Oklahoma iodine prill project.

Brent Willis, CEO of Voyageur Pharmaceuticals, stated: “This location decision optimizes logistics between our Oklahoma iodine sources and Canadian barite resources while providing the infrastructure required for GMP-compliant manufacturing. We are evaluating multiple strong jurisdictions and will select the site that delivers the most compelling overall package, including the strongest incentive support. The jurisdiction that provides Voyageur with the most significant incentive package will secure this transformative project and its substantial long-term economic benefits.”

Site preparation and detailed engineering are targeted to commence in late 2026, with first production expected in Q4 2028–2029, subject to financing, regulatory approvals, and other customary conditions. This announcement builds on Voyageur’s ongoing collaboration with Bayer and recent advancements in its barium contrast portfolio, including Health Canada-approved products already in commercial use. The company continues to work closely with economic development corporations and state/federal partners to advance incentives and permitting. Management believes the project aligns with U.S. priorities for domestic critical and strategic minerals, pharmaceutical onshoring of strategic drugs, and rural economic development.