A study by research market firm Facts and Factors projected the global radiopharmaceutical market to exceed $US11.8 billion by 2028.
Some companies in this space, such as Koninklijke Philips (NYSE: PHG), Ge Healthcare (NASDAQ: GEHC), and Siemens Healthineers (XETR:SHL) have seen their share values trend upward since the year began.
New developments and discoveries are constantly being made in this field. The latest of which is believed to be a significant technological breakthrough expected to play a vital role in clearly delineating specific body areas during radiological examinations.
Voyageur Pharmaceuticals Ltd. (TSXV:VM) signed a significant licensing agreement with Rain Cage Carbon to develop nanocarbon-based contrast drugs for medical imaging.
Rain Cage is a pioneering Canadian company out to decarbonize industries and offers a unique solution through its EDEN technology, which captures and transforms CO2 and other emissions into engineered carbon.
Meanwhile, Voyageur is working to become a key player in this market by vertically integrating its production processes of developing barium and iodine Active Pharmaceutical Ingredients (API) and imaging contrast agents.
One of the innovative materials produced by Rain Cage’s system are fullerenes, which possess high chemical stability and resistance to degradation, making them ideal for radiology contrast applications.
Essentially nanomolecular carbon cages, fullerenes can serve as platforms for the delivery of imaging agents and drugs. When surface functionalized, they can have a direct bioactivity such as antioxidant activity.
Many don’t know about barium and fullerene, and Voyageur’s experience in this field likely set them apart from the competition. What will come from this partnership, will be new contrast agents for the radiology drug market.
Voyageur will also become the first carbon-neutral pharmaceutical company in the industry. The innovative technology created by Rain Cage will allow Voyageur’s team to extract carbon dioxide and other emissions, generating high-grade carbon for various applications.
Voyageur’s CEO, Brent Willis explained that by leveraging this nanocarbon innovation, the company plans to create safer and more effective contrast agents for medical imaging. Speaking in an interview with Market Herald’s Shoran Devi, he went into more detail.
In a media release on this news, CEO Willis highlighted the transformative potential of Rain Cage’s fullerenes in the medical imaging market, stating, “This advanced technology has remarkable properties that may revolutionize the way contrast agents are currently used for medical imaging. I am delighted by the execution of this agreement, which not only positions our company at the forefront of this innovative technology but also solidifies our future as a carbon neutral pharmaceutical company by utilizing EDEN technology. Through our partnership with Rain Cage, we will develop and manufacture innovative new imaging products while maintaining our unwavering dedication to protecting the environment, improving global health, and leaving a positive legacy for future generations.”
The agreement also includes plans for defining a royalty structure for Rain Cage on sales of new fullerene-based drugs, establishing an equipment deployment agreement, and exploring monetization of carbon credits. Voyageur plans to meet its environmental, social, and governance (ESG) criteria mandates by implementing the EDEN technology and advancing its social and governance goals.
Companies from across all sectors are working to become carbon neutral, seeing the urgent need to address climate change and reduce greenhouse gas emissions.
Voyageur can uphold its sustainability commitment and enhance its brand reputation and competitiveness in the global market by deploying carbon capture technology on its projects, and manufacturing carbon-neutral products.
Rain Cage’s offering is decidedly undervalued but word about this technology is likely to get out soon. In a field where Big Pharma is king it is refreshing to see what minds from the sidelines of the media narrative can accomplish when given time to make advances.
Investors and those interested can learn more when Voyageur holds its annual general and special meeting on June 28, 2023 at 10:00 am, at the offices of DS Lawyers Canada LLP, 333 7th Avenue SW #800, Calgary, Alberta.
Voyageur is focused on the development of barium and iodine active pharmaceutical ingredients and imaging contrast agents for the medical imaging marketplace.
To keep up with the latest updates from the company, visit voyageurpharmaceuticals.ca.
This is sponsored content issued on behalf of Voyageur Pharmaceuticals Ltd., please see full disclaimer here.
