Voyageur Pharmaceuticals Ltd. Issued 4th Health Canada License For Radiographic Barium Contrast Product
Voyageur is moving forward with its business plan of becoming the only fully-integrated company in the radiographic contrast medical field
Calgary, Alberta, May 04, 2021 (GLOBE NEWSWIRE) -- Voyageur Pharmaceuticals Ltd. (TSX.V:VM) (OTC:VYYRF) (the "Company" or "Voyageur") is pleased to announce that it has received approval from Health Canada (HC) for its product, MultiXthin barium sulfate suspension. MultiXthin is specifically designed for single contrast radiographic examinations of the oesophagus, stomach, and small bowel to visualize the gastrointestinal (GI) tract in adult and pediatric patients.
Voyageur has built a suite of barium radiographic contrast media products for global sales and distribution. The following products have been licensed:
- SmoothX – For CT market
- HDX – For Flouroscopy market
- LDX – For fluoroscopy market
- MultiXthin – For Flouroscopy market
Voyageur is prepared to test its newly-formulated products under GMP and HC guidelines and advance to clinical testing. Voyageur plans to ensure that it is creating the highest quality products prior to phase one marketing, sales and distribution to Canadian, USA and international markets.
Voyageur has begun the process to prepare applications for FDA device registrations. Based on the new regulatory change of barium sulfate being designated as a device, versus its previous designation as a drug, Voyageur plans to move forward with a marketing and sales strategy for the US market.
Further to news releases dated April 13 and 23, 2021, the Company announces that it has closed the first tranche of a non-brokered private placement of common units ("Common Units") and flow-through units ("Flow-Through Units") (the "Offering"). The Offering was a combination of (i) Common Units issued at a price of $0.15 per Common Unit and comprised of one (1) common share and one (1) common share purchase warrant, exercisable at $0.30 for a period of two years from the closing date, and (ii) Flow-Through Units issued at a price of $0.18 per Flow-Through Unit and comprised of one (1) common share and one common share purchase warrant, with each whole warrant being exercisable at $0.40 for a period of two years from the closing date. Pursuant to the closing of the first tranche of the Offering, the Company issued 7,598,731 Common Units for gross proceeds of $1,139,809.65 and 1,619,264 Flow-Through Units for gross proceeds of $291,467.52.