Voyageur Pharmaceuticals & Summit Nanotech Corporation Sign Memorandum of Understanding for a Technology Development Project
November 8, 2021 (Source) — Voyageur Pharmaceuticals Ltd. (TSXV:VM) (OTC:VYYRF) (the “Company” or “Voyageur”) is pleased to announce the signing of a non-binding Memorandum of Understanding (“MOU”) with Summit Nanotech Corporation (“SNT”). The MOU proposes an agreement between Voyageur and SNT to develop a more sustainable process for the production of iodine medical products, that are used as contrast agents. The process will be developed by leveraging SNT’s award winning lithium extraction technology.
There have been no significant advancements in processing technology in over 20 years in the compounding of iodine medical products. SNT’s innovative nanomaterials have the potential to decrease production costs and increase production efficiency, while also creating a lower environmental footprint. By collaborating with SNT and operating a “green” pharmaceutical manufacturing process, Voyageur will contribute to a reduction in worldwide carbon emissions and ensure that their long-term goals align with the United Nations Agenda 2030 Sustainable Development Plan.
Brent Willis, CEO of Voyageur states, “By joining with SNT, we are fortifying our concept of fully integrating our operations from earth to bottle. Manufacturing contrast agents that we control at costs that are lower than those of other iodine producers, will enable Voyageur to gain a competitive edge in the marketplace and help to reduce healthcare costs worldwide.”
Amanda Hall, CEO of Summit Nanotech states, “Voyageur’s holistic approach of mineral extraction from underground brines for iodine, using sustainable processes, aligns with Summit’s existing asset development strategy. By creating new nanomaterials to isolate iodine in tandem with lithium, we are cutting emissions, reducing waste and further contributing to the circular economy.”
About Summit Nanotech Corporation
SNT is a Calgary based company that leverages recent advances in nanotechnology to create and implement solutions for industrial applications. By combining their nanotechnology expertise, knowledge in biology, chemistry, chemical engineering and mechanical engineering, SNT’s team is able to bring a wealth of value to the iodine contrast agent project. Nanotechnology is not a specific technology, it’s an innovative, if not revolutionary understanding of how materials are created. The ability to synthesize and manipulate materials at the molecular level is now possible due to breakthroughs in nanotechnology research.
At our core, we are a humancentric company, employing innovative, resourceful people. We break boundaries and follow through with projects that will change the industrial landscape. Founded by geoscientists with extensive resource development experience, we believe nanotechnology can be leveraged to provide world class solutions to industrial problems. Why not join our fast-growing client base? Get in touch today to learn more. https://www.summitnanotech.ca/
Voyageur is a Canadian public company listed on the TSXV under the trading symbol VM. Voyageur is focused on the development of barite and iodine Active Pharmaceutical Ingredients (“API”) and high-performance cost-effective imaging contrast agents for the medical radiology marketplace. Voyageur’s goal is to initially generate positive cash flow from operations using third party GMP pharmaceutical manufacturers in Canada and internationally. Ultimately, Voyageur has plans to build all the required infrastructure to become 100% self-sufficient with all manufacturing. Voyageur owns a 100% interest in three barium sulfate (barite) projects including the Frances Creek property, suitable in grade for the pharmaceutical barite marketplace, with interests in a high-grade iodine, lithium & bromine brine project located in Utah, USA.
Voyageur is moving forward with its business plan of becoming the only fully integrated company in the radiology medical field, by controlling all primary input costs under the motto of: “From the Earth to the Bottle”.
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Forward Looking Information
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to “entering into a definitive agreement with SNT, the effectiveness of SNT’s technology to decrease production costs and increase production efficiency while creating a lower environmental footprint, the development of a more sustainable process for the production of iodine medical products and statements relating to the Company’s long term plans, including with respect to becoming 100% self-sufficient with all manufacturing. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com. Voyageur does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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