Mr. Brent Willis reports

VOYAGEUR PHARMACEUTICALS AND API FORGE ALLIANCE FOR CARBON-BASED IMAGING DRUG ADVANCEMENT

Voyageur Pharmaceuticals Ltd. and Applied Pharmaceutical Innovation (API) have signed a master services agreement (MSA). This collaboration represents a significant advancement in both entities' commitment to innovation, heralding a transformative step forward for Canada's thriving life sciences sector.

Under this strategic agreement, API will play a crucial role in accelerating Voyageur's imaging contrast medium product development, manufacturing and commercialization. Leveraging API's scientific and pharmaceutical expertise, the collaboration aims to facilitate regulatory approvals and expedite the market entry of Voyageur's contrast imaging products.

This partnership will strategically target FDA (Food and Drug Administration), Health Canada and other regulatory agencies, by licensing across several key development areas:

• Accelerating the development and registration of the innovative VatC60 MRI drug;
• Developing novel fullerene imaging products for targeted drug delivery within the body, with a focus on applications in oncology;
• Introducing an advanced suite of new barium contrast media products, with the goal to displace current products in the market;
• Expanding Voyageur's Iodine contrast media product pipeline, including potential development of fullerene iodine products;
• Developing a carbon-60-based nutraceutical health supplement.

"We are thrilled to embark on this groundbreaking collaboration with Voyageur, advancing health care through the commercialization of mineral-based active pharmaceutical ingredients for the medical imaging market," stated Andrew MacIsaac, chief executive officer at API. "This partnership underscores our commitment to driving innovation and elevating the life sciences landscape in Canada and globally."

Brent Willis, chief executive officer of Voyageur, expressed excitement about the collaboration, stating: "Our vision is to become the world's first company capable of creating new carbon-based drugs from captured CO2, ensuring carbon-neutral pharmaceuticals. This strategic alliance with API will accelerate Voyageur's development programs, with a primary focus on creating a groundbreaking carbon-based MRI drug and advancing our iodine contrast media product pipeline."

By amalgamating API's regulatory expertise with Voyageur's research and development capabilities, this partnership is poised to showcase global leadership in pharmaceutical development. The collaboration exemplifies how the intersection of Alberta's strengths in natural resources, scientific innovation, and environmental stewardship can result in enhanced health care solutions worldwide. Together, API and Voyageur aim to streamline the integration of Voyageur's contrast media products, reducing supply chain risks and aiding health care practitioners in diagnosing diseases, disorders and abnormalities globally.

About Voyageur Pharmaceuticals Ltd.

Voyageur is a Canadian public company at the forefront of barium, iodine and carbon active pharmaceutical ingredients (API) and high-performance, cost-effective imaging contrast agents. Focused on vertically integrating the barium, iodine and carbon contrast imaging market, Voyageur aims to become a key player by producing its own minerals.

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