Voyageur Pharmaceuticals Ltd. has announced a strategic advancement in its vertical integration strategy by securing 100% ownership of an innovative iodine extraction technology and appointing its inventor, Dr. Brian Mueller, as Director of Chemistry. The company acquired the intellectual property rights to Dr. Mueller's proprietary iodine-extraction technology, known as the Mueller Process, through an arm's length transaction that included an initial cash payment and a running royalty on net sales of iodine products.
The Mueller Process has demonstrated promising results in initial bench scale testing using brine water from the Anadarko and West Texas Basins. Testing showed greater than 90% yield from incoming brine to technical grade iodine with conversion to 99.5% pure iodine. The process is described as environmentally friendly, featuring a closed system with no volatile organic compounds or hazardous emissions, and produces output brine suitable 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 this acquisition, calling it a pivotal development for the company. Provisional patent applications for the intellectual property were filed in 2025, with full utility patent applications planned for 2026. The immediate focus will be on iodine extraction in the Anadarko Basin, where the technology is expected to enable efficient production of iodine flake. More significantly, it may allow Voyageur to bypass the flake process entirely and directly create iodine drugs through its proprietary Streamlined API process.
This potential capability could position Voyageur to achieve one of the lowest cost structures in the multi-billion-dollar iodine contrast drug 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 Grand View Research. The North American market for iodine contrast media represents approximately 39.07% of the global market, valued at $2.65 billion annually.
The new technology also opens the door to potential elemental mineral extraction from Voyageur's ULI claim block in the Paradox Basin, Utah, targeting lithium, iodine, bromine, boron, magnesium, potassium and sodium. Voyageur's Streamlined API process, created by Bradley Willis, P.Eng, the company's COO, aims to set a new industry benchmark by simplifying iodine contrast drug production through direct extraction from brine water and a closed loop manufacturing process.
This development could position Voyageur, through a wholly owned subsidiary, to become the first U.S. company to produce iodine drugs domestically, potentially mitigating supply chain risks and establishing new standards for cost efficiency in the industry. The company also announced it has delivered notice to terminate its collaboration with Altillion Inc., previously announced on June 23, 2025.
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 reflects Voyageur's commitment to innovation and excellence as the company aims to become a leader in the radiology contrast media drug market.
