Business
Jaguar Health Signs Memorandum of Understanding with the Lead Sponsor of the Planned Dragon SPAC Pursuing Listing on AIM Italia, Providing the Dragon SPAC with Exclusivity for a Proposed Business Combination with Napo EU
Napo EU to explore conditional marketing authorization for proposed inflammatory diarrhea indication for crofelemer, initially in ‘long-hauler' covid-19
About this update from Jaguar Health, Inc.
[{"type":"text","content":"Napo EU to explore conditional marketing authorization for proposed inflammatory diarrhea indication for crofelemer, initially in ‘long-hauler' covid-19 recovery patients in EuropeSAN FRANCISCO, CA / ACCESSWIRE / February 18, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) (\"Jaguar\" or the \"Company\") today announced that the Company has signed a Memorandum of Understanding (the \"MOU\") with the lead sponsor of the planned Dragon special purpose acquisition company (the \"Dragon SPAC\"), which is pursuing listing on AIM Italia. Per the MOU, Napo EU, the anticipated subsidiary of the Company in Italy, will be the named target of the Dragon SPAC and has granted the Dragon SPAC exclusivity to list on AIM Italia and negotiate and finalize the documentation for the contemplated merger transaction.The Dragon SPAC is a newly formed initiative expected to be incorporated in Italy, with lead sponsorship by Josh Mailman. A well-known, New York City-based impact investor, Mailman co-founded Social Venture Network (now Social Venture Circle) in 1987, founded the Threshold Foundation in 1981, and founded Business for Social Responsibility in 1992. He is also the managing director of Serious Change L.P., a $100 million privately held impact fund he started in 2006, serves on the boards of Benefithub, Giving Assistant, Baltix Design, and Red Rabbit, and is an advisor to Social Venture Circle and the Threshold Foundation.\"We are so pleased to be working with the Dragon SPAC and an experienced leader like Josh Mailman. Josh is well-known for his integrity, and his investment values and skill set align with those of Jaguar, Napo, and Napo EU, and our mission,\" said Conte.\"Napo's discovery efforts were founded 30 years ago to identify and develop novel plant-based drugs by leveraging the knowledge of traditional healers working in rainforest areas,\" Mailman stated. \"The long-term commitment and leadership of the Jaguar and Napo management team, and their expertise in the development of crofelemer for GI distress, facilitated the rapid engagement that resulted in the signing of the MOU related to the anticipated merger of Napo EU with the Dragon SPAC. I am pleased that AIM Italia allows SPAC sponsors to name their intended target entity, and I believe that the novel, first-in-class mechanism of action of crofelemer (Mytesi®) - the Company's pione...