ImagingX Pharmaceuticals is a strategic joint venture between Voyageur Minerals and Chief Medical Supply.
ImagingX is currently formulating barium contrast products with Chief Medicals science and drug development team.
ImagingX has sourced a third party supply of USP barite to fast track manufacturing and production. This will allow for cash flow to begin prior to mine production. First barite shipment was delivered to ImagingX in February 2019.
ImagingX will begin sales of barium contrast products upon completion of the Health Canada registration process.
Initial sales will target the Canadian market followed by Europe, USA, and the remaining markets worldwide.
The structure of the JV is as follows: Voyageur provides USP grade barium sulfate from the Frances Creek property and Chief provides formulation, testing, quality control and GMP pharmaceutical manufacturing. The initial manufacturing and bottling will be carried out at the Calgary plant with capabilities to expand contrast development and manufacturing at the Mississauga plant. Each party receives 50% of the revenue less the cost of regulatory and marketing of the barium contrast within the JV. None of the assets (bottling plant or mine) reside within the JV.