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Jaguar Health Subsidiary Napo Pharmaceuticals Signs License Agreement with its Italian Subsidiary, Napo EU S.p.A., to Develop and Commercialize Crofelemer and Lechlemer in Europe
Per the terms of the agreement, Napo Pharmaceuticals will receive an upfront payment of $10 million payable in two installments following the anticipated
About this update from Jaguar Health, Inc.
[{"type":"text","content":"Per the terms of the agreement, Napo Pharmaceuticals will receive an upfront payment of $10 million payable in two installments following the anticipated merger of Napo EU and Dragon SPAC S.p.A. and is eligible to receive additional payments related to milestones, royalties, and product transfersNapo EU's initial focus is on accelerated conditional approval for orphan disease: short bowel syndrome with intestinal failureSAN FRANCISCO, CA / ACCESSWIRE / August 19, 2021 / Napo Pharmaceuticals, Inc. (Napo), the wholly owned US subsidiary of Jaguar Health, Inc. (NASDAQ:JAGX), today announced the signing of a license agreement with Napo's Italian subsidiary, Napo EU S.p.A., to study, develop, and commercialize Napo's plant-based crofelemer and lechlemer drug product candidates in the European Union and in specified non-EU countries in Europe for specific indications. Per the terms of the license agreement, Napo will receive payment of up to US$10 million (to be paid in two installments) as the initial license fee and is eligible to receive additional payments related to milestones, royalties, and product transfers.Napo EU was formed with the mission to expand access to crofelemer and lechlemer to Europe (excluding Russia) to address significant unmet gastrointestinal medical needs in the region. Napo EU's initial focus is on pursuing the accelerated conditional marketing authorization pathway from the European Medicines Agency (EMA) for crofelemer for an important orphan-designated disease: short bowel syndrome with intestinal failure (SBS-IF).The license agreement grants Napo EU the right to study, develop, and commercialize crofelemer for SBS-IF, HIV-related diarrhea, and the symptomatic relief and treatment of IF-related diarrhea in patients with congenital disorders.\"We are very happy that this license agreement has been executed,\" stated Lisa Conte, Jaguar's president and CEO and Napo EU board member. \"We believe crofelemer will be eligible for the EMA's conditional marketing authorization pathway for short bowel syndrome with intestinal failure, which provides a fast-track clinical review process. We anticipate that Jaguar's shareholders will benefit from license fees and revenue expected to be driven by Napo EU product commercialization. Additionally, in support of development efforts in the US and other territories, Napo h...