Business
Jaguar Health Signs Definitive Agreement for $5 Million Non-dilutive Financing Transaction Involving Sale of Royalty Rights Related to Future Potential Crofelemer (Mytesi) COVID-related Indication Revenue Stream
No royalty payments due for 36 monthsCompany has started to identify key opinion leader physicians in the US as well as Europe focused on addressing the
About this update from Jaguar Health, Inc.
[{"type":"text","content":"No royalty payments due for 36 monthsCompany has started to identify key opinion leader physicians in the US as well as Europe focused on addressing the symptoms - including gastrointestinal distress - that afflict a significant proportion of COVID-19 survivors for an extended period after recoverySAN FRANCISCO, CA / ACCESSWIRE / March 9, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) (\"Jaguar\" or the \"Company\") today announced that the Company has signed the definitive agreement (the \"Agreement\") related to the previously announced term sheet for a third non-dilutive royalty financing transaction, pursuant to which Jaguar is selling to the lender for an aggregate purchase price of $5 million (the \"Royalty Purchase Price\") a royalty interest in future potential crofelemer (Mytesi®) sales for the proposed COVID-related indication in long-hauler patients (as defined below), for which the Company is currently exploring the pathway of conditional marketing authorization in the European Union. The COVID-related indication is the initial indication to be pursued by Napo EU, the exclusive target of the planned Dragon special purpose acquisition company (the \"Dragon SPAC\"), which is anticipated to be listed on AIM Italia.\"We are very happy to have secured an additional $5 million of non-dilutive financing to fund pipeline opportunities for crofelemer (Mytesi),\" stated Lisa Conte, Jaguar's founder, president, and CEO. \"We are continuing to actively investigate the long-hauler opportunity and have started to identify key opinion leader physicians in the US, as well as Europe, focused on addressing the symptoms - including gastrointestinal distress - that afflict a significant proportion of COVID-19 survivors for an extended period after recovery. Long-hauler syndrome is now a recognized condition in the US, where there are at least 125 clinics dedicated to treating long-hauler patients.\"Jaguar intends to use the proceeds from the proposed transaction to support regulatory activities associated with the Company's development pipeline, including supporting the development program for crofelemer for the prophylaxis and/or symptomatic relief of inflammatory diarrhea, initially to be studied in a long-hauler COVID-19 recovery patient population (the \"COVID-related indication\"). This $5 million royalty financing transaction follows a ...