Business
Jaguar Health Announces Plan to Develop and Commercialize Crofelemer, the Company's Novel Proprietary Drug, for the Indication of Inflammatory Diarrhea, Initially in 'Long-Hauler' COVID-19 Recovery Patients
A significant percentage of COVID-19 recovery patients suffer from long-term diarrhea or other gastrointestinal disfunctionsNon-binding terms to fund
About this update from Jaguar Health, Inc.
[{"type":"text","content":"A significant percentage of COVID-19 recovery patients suffer from long-term diarrhea or other gastrointestinal disfunctionsNon-binding terms to fund activities in EuropeSAN FRANCISCO, CA / ACCESSWIRE / November 30, 2020 / Jaguar Health, Inc. (NASDAQ:JAGX) (\"Jaguar\" or the \"Company\") and the Company's wholly-owned subsidiary, Napo Pharmaceuticals, Inc. (Napo), announced today that Jaguar and Napo are planning to develop and commercialize crofelemer, the Company's novel proprietary drug, for an indication of prophylaxis and/or symptomatic relief of inflammatory diarrhea, initially to be studied in a ‘long-hauler' COVID-19 recovery patient population in Europe.As part of this plan, the Company is engaged in preliminary discussions with Swiss Growth Forum, a sponsor of a European special purpose acquisition company, \"Post Pandemic Recovery Equity\" (\"the SPAC\"), regarding the SPAC's potential merger with an operational subsidiary of the Company to be established in Europe with an exclusive license to crofelemer and Mytesi® for the indications of inflammatory diarrhea and HIV-related diarrhea. The preliminary terms under discussion include an upfront cash license fee to Napo ranging from approximately $2.0 million to $10.0 million; funding for the European operation of at least $20 million to pursue clinical development of crofelemer for inflammatory diarrhea in a long-hauler COVID-19 recovery patient population; and equity ownership in the European subsidiary by Napo ranging from 30% to 49.9% post-acquisition by the SPAC, with lower equity ownership in conjunction with a higher up-front cash license fee received by Napo. Other customary financial terms include royalties and transfer pricing on the supply of crofelemer and Mytesi to the European operation.Management of Jaguar is currently on a road show in Europe with Swiss Growth Forum seeking support for the anticipated European operation identified as a target for the Post Pandemic Recovery Equity SPAC, for which Swiss Growth Forum is a promoter.The terms \"long-hauler\" and \"chronic COVID\" refer to COVID-19 survivors who suffer with symptoms which may include gastrointestinal distress (i.e. diarrhea, constipation, nausea, pain), fatigue, brain fog, forgetfulness, cardiovascular effects, and arthritis, for an extended period after recovery. It is theorized that these sym...