Business
Jaguar Health & SynWorld Technologies Mutually Agree to Terminate License and Commercialization Agreement for Canalevia for Treatment of Diarrhea in Dogs in China Given Jaguar’s 2023 Focus on Human Drug Development
Tao Wang, SynWorld's General Manager and a long-term shareholder of restricted Jaguar stock, fully aligned on termination decisionSAN FRANCISCO, CA /
About this update from Jaguar Health, Inc.
[{"type":"text","content":"Tao Wang, SynWorld's General Manager and a long-term shareholder of restricted Jaguar stock, fully aligned on termination decisionSAN FRANCISCO, CA / ACCESSWIRE / February 1, 2023 / Jaguar Health, Inc. (NASDAQ:JAGX) (\"Jaguar\" or the \"Company\") and SynWorld Technologies Corporation (SynWorld) today announced that the two companies have mutually agreed to terminate the exclusive license and services agreement (the \"Canalevia Agreement\") executed in June 2022 for the treatment of diarrhea in dogs in the China market with Jaguar's Canalevia® (crofelemer delayed-release tablets) prescription drug product effective January 31, 2023.\"Given Jaguar's sharp strategic focus in 2023 on human drug development - specifically on our Phase 3 pivotal OnTarget trial of crofelemer for our core follow-on indication of prophylaxis of cancer therapy-related diarrhea (CTD) and our crofelemer development efforts for the rare disease indications of short bowel syndrome (SBS) and congenital diarrheal disorders (CDD) - we and SynWorld have agreed that it makes sense to terminate the Canalevia Agreement at this time,\" said Lisa Conte, Jaguar's founder, president, and CEO. \"Jaguar is concentrating on two late-stage clinical events in the next approximately 6 months that we expect to be transformational in terms of value creation and recognition for the Company. We expect enrollment in the OnTarget trial to complete in the second quarter of 2023. Our second prioritized clinical program centers around the investigator-initiated proof-of-concept trial of crofelemer for SBS and CDD with intestinal failure.\"\"Jaguar and SynWorld are fully aligned on our mutual decision to terminate the Canalevia Agreement, because Jaguar is understandably wholly focused on its core drug development milestones on the human front at this time,\" said Tao Wang, SynWorld's General Manager and a long-term shareholder of restricted Jaguar stock. \"Jaguar and SynWorld may jointly revisit possible opportunities in the future with regard to the potential consumer demand in China for Canalevia, keeping in consideration the impact that the geopolitical climate could have on the operating environment in this regulated animal health market.\"On the effective date of termination of the Canalevia Agreement, all licenses granted to SynWorld by Jaguar under the Canalevia Agreement were...