Voyageur Pharmaceuticals Ltd., a Canadian developer of pharmaceutical-grade barium and iodine for medical imaging contrast media, has announced a strategic advancement in its vertical integration strategy. The company has secured 100% ownership of an innovative iodine extraction technology developed by Dr. Brian Mueller, PhD, who has been appointed as the company's Director of Chemistry, effective immediately.
On January 11, 2026, Voyageur acquired the intellectual property rights to Dr. Mueller's proprietary iodine-extraction technology, known as the "Mueller Process," granting the company control over the intellectual property supporting its iodine strategy. Voyageur expects this will enable it to advance its iodine extraction projects with enhanced cost efficiency, operational flexibility, and long-term supply-chain security. As consideration for the acquisition, the company made a lump sum initial cash payment and will pay Dr. Mueller a running royalty on net sales of iodine products.
Brine water from the Anadarko and West Texas Basins has been tested using the Mueller Process. Initial bench scale testing conducted by Dr. Mueller showed greater than 90% yield from incoming brine to technical grade iodine (greater than 85% pure) with conversion to 99.5% pure iodine. The process is described as environmentally friendly with a closed system, no volatile organic compounds or hazardous emissions, and output brine that is a "clean brine" useful for industrial use, hydraulic fracturing, desalination or further mineral extraction. These results have not been independently verified, with third party evaluation of the process expected to occur in 2026.
Brent Willis, CEO & President of Voyageur, emphasized the strategic importance of securing exclusive rights to this proprietary technology, calling it a pivotal development for the company. "With provisional patent applications for the intellectual property acquired by Voyageur filed in 2025, we are on track to submit full utility patent applications in 2026. Our immediate focus is on iodine extraction in the Anadarko Basin, where we believe this technology will allow us to produce iodine flake efficiently," Willis explained.
"More importantly, it may enable us to bypass the flake process entirely, directly creating iodine drugs through our proprietary Streamlined API process. This potential capability not only enhances our potential ability to produce high-quality, cost-effective iodine contrast agent, but is expected to allow Voyageur to achieve one of the lowest cost structures in the multi billion-dollar iodine contrast drug industry," Willis continued. "In addition, the new technology opens the door to potential elemental mineral extraction from our ULI claim block in the Paradox Basin, Utah. The elemental minerals of interest are lithium, iodine, bromine, boron, magnesium, potassium and sodium."
Voyageur's Streamlined API process, created by Bradley Willis, P.Eng, Voyageur's COO, aims to set a new benchmark for the industry by simplifying the production of iodine contrast drugs by extracting directly from brine water and creating a closed loop manufacturing process. This has the potential to position Voyageur, through a wholly owned subsidiary, to become the first U.S. company to produce iodine drugs domestically, mitigating supply chain risks and setting a new standard for cost efficiency in the industry.
The global contrast media market size was estimated at USD 6.77 billion in 2024 and is projected to reach USD 13.86 billion by 2033, growing at a CAGR of 8.3% from 2025 to 2033, according to market research available at https://www.grandviewresearch.com/industry-analysis/contrast-media-contrast-agents-market. The North American market for iodine contrast media is estimated at 39.07% of the global market, representing $2.65 billion per year of the global market share due to high imaging volumes.
Dr. Mueller brings over 40 patents spanning water treatment, mineral extraction, and carbon capture technologies to his new role. His expertise in produced water treatment, corrosion modeling, and flow assurance chemistry has enabled him to solve complex challenges in oil & gas, geothermal, and desalination industries. His appointment as Director of Chemistry at Voyageur reflects the company's commitment to innovation and excellence, with his track record in developing and commercializing advanced technologies expected to support Voyageur's mission to become a leader in the radiology contrast media drug market.
Voyageur also announced that the company has delivered a notice to Altillion Inc. that it will be terminating the collaboration between the company and Altillion, previously announced on June 23, 2025. The company appreciates the contributions made by Altillion during the term of the collaboration with Voyageur.
