en.Wedoany.com Reported - Voyageur Pharmaceuticals Ltd. has engaged Fluor Corp. to complete comprehensive feasibility studies for two strategic projects aimed at advancing the vertical integration of the North American radiocontrast pharmaceutical supply chain. The two studies cover an iodine extraction and production facility and an integrated contrast pharmaceutical production facility, designed to create North America's first fully integrated "mine-to-bottle" contrast agent platform.
As part of a collaboration with Bayer AG, the iodine project will conduct a feasibility study for a proposed iodine extraction and production facility in Oklahoma, USA. The facility will utilize Voyageur's patent-pending Meuller process to produce high-purity iodine from iodine-rich oilfield brine for use in contrast pharmaceuticals. This process was developed in collaboration with Bayer under a milestone-based funding agreement announced on February 23, 2026. Voyageur's feasibility study for the integrated iodine and barium contrast pharmaceutical production facility targets the company's planned pharmaceutical plant, which is expected to produce finished barium-based and iodine-based contrast agent products, integrating high-purity barite from Voyageur's own mines and domestically sourced iodine.
Voyageur has budgeted $2.35 million for the feasibility study of the Bayer project and will finalize the budget for the integrated facility's feasibility study after completing testing of its proprietary Streamline iodine pharmaceutical manufacturing process. Fluor's expertise in process engineering, project economics, and large-scale industrial facility design will ensure both studies meet the technical, environmental, and economic standards required for project financing and regulatory approvals. Both studies are expected to be completed in early 2027, providing a basis for construction decisions that year.
Brent Willis, CEO of Voyageur Pharmaceuticals, stated that the collaboration with Fluor aims to de-risk and accelerate the projects, with the goal of securing North America's critical medical contrast pharmaceutical supply chain. These feasibility studies build on Voyageur's recent progress, including commercial sales of its barium contrast products approved by Health Canada and the ongoing Bayer collaboration. Subject to the successful completion of the feasibility studies and further agreements between the parties, Voyageur and Bayer may consider advancing the project to subsequent stages under a production financing arrangement linked to offtake. In possible subsequent stages, Bayer could provide capital financing for the project, while Voyageur would be responsible for operating and managing it, subject to final agreements.
