Voyageur Pharmaceuticals Hires Fluor for Feasibility Studies on Iodine Production and Contrast Drug Facility

Voyageur Pharmaceuticals Ltd. has engaged Fluor Corporation, a global engineering and construction firm, to complete comprehensive feasibility studies for two strategic projects that could transform North America’s supply chain for medical imaging contrast drugs. The studies, announced on June 23, 2026, cover an iodine extraction project in collaboration with Bayer AG and Voyageur’s planned integrated pharmaceutical manufacturing facility.

The first study focuses on a proposed iodine extraction and production facility in Oklahoma, USA, using Voyageur’s patent-pending Mueller process, developed under a milestone-based funding agreement with Bayer. This project aims to produce high-purity iodine from iodine-rich oilfield brine, a domestic source that could reduce reliance on foreign iodine imports. The second study evaluates 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 to create a fully integrated ‘Earth-to-Bottle’ contrast media platform.

Voyageur has budgeted US$2,350,000 for the Bayer project feasibility study and will finalize a budget for the integrated facility study after testing its proprietary Streamline iodine drug manufacturing process. The studies are expected to be completed in early 2027, potentially leading to a construction decision later that year. ‘We are thrilled to partner with Fluor to de-risk and accelerate these projects,’ said Brent Willis, CEO of Voyageur Pharmaceuticals. ‘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.’

The dual feasibility studies build on Voyageur’s recent progress, including Health Canada-approved barium contrast products that are already generating commercial sales. The company’s strategy aims to address vulnerabilities in the current supply chain, where most contrast media ingredients are sourced from overseas, exposing hospitals and patients to geopolitical, logistical, and shortage risks. By owning raw material sources and proprietary processing technologies, Voyageur expects to achieve materially lower operating costs than competitors and create a reliable North American supply chain.

Subject to successful completion of the feasibility study and further agreement, Voyageur and Bayer may consider advancing the project under an offtake-linked production financing arrangement, where Bayer could provide capital financing while Voyageur operates and manages the project. This collaboration aligns with broader efforts to secure domestic production of critical medical supplies, a priority highlighted by recent global supply chain disruptions.

Fluor’s expertise in process engineering, project economics, and industrial facility design is expected to ensure both studies meet the highest technical, environmental, and economic standards required for project financing and regulatory approvals. The outcome of these studies will be pivotal for Voyageur’s ambition to become the first fully integrated producer of both barium and iodine contrast agents in North America, potentially reshaping the market for medical imaging drugs.

For more information on Voyageur Pharmaceuticals, visit https://voyageurpharmaceuticals.ca. The original press release is available at www.newmediawire.com and further details on the company’s filings can be found on SEDAR+ at www.sedarplus.ca.

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