Jaguar Health Announces Establishment of Board of Directors for Newly Formed Joint Venture Magdalena Biosciences

Rhea-AI Summary

Jaguar Health, Inc. (NASDAQ:JAGX) has established the board of directors for its newly formed joint venture, Magdalena Biosciences, Inc., created with Filament Health Corp. (NEO:FH, OTCQB:FLHLF). The joint venture aims to develop natural prescription medicines targeting mental health issues, including ADHD in adults. Dr. Karen Brunke has been appointed as the acting CEO of Magdalena. Board members include Jaguar's CEO Lisa Conte and Filament's CEO Benjamin Lightburn, both bringing extensive experience in biotechnology and pharmaceuticals. This initiative intends to leverage plant-derived therapies for mental health, aligning with Jaguar's mission.

Positive

• Formation of the joint venture aims to develop novel plant-based medicines for mental health.
• Experienced board members, including Jaguar's CEO and Filament's CEO, enhance leadership.
• Dr. Brunke's appointment brings over 35 years of relevant industry experience.

Negative

• None.

Magdalena Biosciences is focused on developing novel, natural prescription medicines derived from plants for mental health indications including attention-deficit/hyperactivity disorder (ADHD) in adults

SAN FRANCISCO, CA / ACCESSWIRE / January 23, 2023 / Jaguar Health, Inc. (NASDAQ:JAGX) today announced that the board of directors has been established for Magdalena Biosciences, Inc., the joint venture recently formed by Jaguar and Filament Health Corp. (NEO:FH, OTCQB:FLHLF) to develop novel, natural prescription medicines derived from plants for mental health indications including attention-deficit/hyperactivity disorder (ADHD) in adults. Magdalena board members include Jaguar Founder, President, and Chief Executive Officer Lisa Conte, Filament Co-Founder and Chief Executive Officer Benjamin Lightburn, and Jack Wielebinski, Fund Operating Officer, One Small Planet, LLC. Jaguar today also announced that Dr. Karen Brunke, Jaguar's EVP of Corporate and Business Development, has been appointed acting Chief Executive Officer of Magdalena.

"I am very happy to be serving as Magdalena Biosciences' acting CEO. Having founded and led a neuroscience company, and having spent more than 35 years in scientific, operational, clinical, and business development management, senior executive, and BOD roles in both large and small biotechnology companies, I am passionate about developing novel prescription medicines for significant unmet mental health disorders," said Dr. Brunke. "I am equally thrilled that Magdalena has the support of such an experienced board that shares my passion for the company's mission."

About the Board of Directors and Management of Magdalena Biosciences:

Lisa Conte is the founder, president, and chief executive officer, and a member of the board of directors, of Jaguar. Mytesi^®, the company's FDA-approved drug product indicated for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy, is a first-in-class, plant-based anti-secretory agent and the first oral drug approved under FDA Botanical Guidance. In July 2017, two companies founded by Ms. Conte - Napo Pharmaceuticals, a human-focused pharmaceuticals company, and Jaguar Animal Health, the veterinary-focused licensor of all of Napo Pharmaceuticals' technology - merged and now comprise Jaguar Health. In 1989, Ms. Conte also founded Shaman Pharmaceuticals, and has pioneered plant-based prescription medicine investigation and development for more than 30 years, including Jaguar's Entheogen Therapeutics Initiative looking at psychoactive plants for novel cures for mood disorders and CNS neurodegenerative diseases. Ms. Conte is a member of the board of directors of Healing Forest Conservatory, serves on the Editorial Advisory Board of Life Science Leader magazine, and serves on the Leadership Council of Pure Earth. She holds an MS in Physiology and Pharmacology from the University of California, San Diego, and an MBA and AB in Biochemistry from Dartmouth College.

Benjamin Lightburn is a proven entrepreneur and leader specializing in the research, development and commercialization of novel extraction technologies. He was previously the CEO of Mazza Innovation Ltd. ("Mazza"), which was focused on the commercialization of a phytochemical extraction technology called the PhytoClean Method^™. Mr. Lightburn raised more than $10 million in angel and venture capital for Mazza and over $2 million in non-dilutive financing from local and international investors, recorded three successive years of triple-digit revenue growth (with two years of +$1 million growth), grew the team from 8 to 28 employees, developed partnerships with leading multinationals such as BASF and Givaudan, and added several patents to the portfolio relating to existing and new technologies. In 2018 Mazza was sold to Sensient Technologies for $26 million.

Jack Wielebinski is a finance professional with over a decade of experience in venture capital, private equity, and financial advisory work in both public and private markets. At One Small Planet he is currently responsible for overseeing the operations of the company's Fire Fund, One Small Planet's venture capital arm, ensuring investment quality and processes meet impact and return standards. He is passionate about harmonizing business systems with environmental well-being. He also holds an MBA from UCLA Anderson's School of Management.

In addition to her role as EVP of corporate and business development at Jaguar, Dr. Brunke serves on the Board of Directors of Cytodyn, Inc. Dr. Brunke was part of the executive team that merged Mercator Genetics with Progenitor and helped take the resultant company public. In addition, she was COO of Anexus Pharmaceuticals, a subsidiary of the Japanese public company MediBic, responsible for in- and out-licensing assistance between Japanese and Western companies, and was next founding CEO of Cardeus Pharmaceuticals, a neuroscience company. Dr. Brunke received her BA degree in Biochemistry as well as PhD in Microbiology from the University of Pennsylvania.

About Filament Health

Filament Health (OTCQB:FLHLF) (NEO:FH) (FSE:7QS) is a clinical-stage natural psychedelic drug development company. Filament believes that safe, standardized, naturally-derived botanical medicines can improve the lives of many, with a mission to see them in the hands of everyone who needs them as soon as possible. Filament's platform of proprietary intellectual property enables the discovery, development, and delivery of natural medicines, including psychedelic medicines, for clinical development. Filament is paving the way with the first-ever natural psychedelic drug candidates.

Learn more at www.filament.health and on Twitter, Instagram and LinkedIn.

About One Small Planet

One Small Planet is a vital capital group. We are on a mission to harmonize the wealth of people and planet by working with the intelligence of the natural world to evolve our economic systems. Our founder, Will Peterffy, has spent his life building bridges between the natural and financial worlds. Witnessing how economic wealth was not incentivizing ecological wealth, he started One Small Planet to participate in the creation of new global systems informed by the natural world. We work with capital to contribute to new systems focusing on regenerative technologies that support human systems operating in harmony with nature. To learn more visit onesmallplanet.org.

About Jaguar Health, Jaguar Animal Health, Napo Pharmaceuticals, & Napo Therapeutics

Jaguar Health, Inc. is a commercial stage pharmaceuticals company focused on developing novel, plant-based, non-opioid, and sustainably derived prescription medicines for people and animals with GI distress, including chronic, debilitating diarrhea. Jaguar Animal Health is a tradename of Jaguar Health. Jaguar Health's wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based human pharmaceuticals from plants harvested responsibly from rainforest areas. Our crofelemer drug product candidate is the subject of the OnTarget study, an ongoing pivotal Phase 3 clinical trial for prophylaxis of diarrhea in adult cancer patients receiving targeted therapy. Jaguar Health is the majority shareholder of Napo Therapeutics S.p.A. (f/k/a Napo EU S.p.A.), an Italian corporation established by Jaguar Health in Milan, Italy in 2021 that focuses on expanding crofelemer access in Europe.

For more information about Jaguar Health, please visit https://jaguar.health. For more information about Napo Pharmaceuticals, visit www.napopharma.com. For more information about Napo Therapeutics, visit napotherapeutics.com.

About Mytesi^®

Mytesi (crofelemer) is an antidiarrheal indicated for the symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on antiretroviral therapy (ART). Mytesi is not indicated for the treatment of infectious diarrhea. Rule out infectious etiologies of diarrhea before starting Mytesi. If infectious etiologies are not considered, there is a risk that patients with infectious etiologies will not receive the appropriate therapy and their disease may worsen. In clinical studies, the most common adverse reactions occurring at a rate greater than placebo were upper respiratory tract infection (5.7%), bronchitis (3.9%), cough (3.5%), flatulence (3.1%), and increased bilirubin (3.1%).

See full Prescribing Information at Mytesi.com. Crofelemer, the active ingredient in Mytesi, is a botanical (plant-based) drug extracted and purified from the red bark sap of the medicinal Croton lechleri tree in the Amazon rainforest. Napo has established a sustainable harvesting program for crofelemer to ensure a high degree of quality and ecological integrity.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements." In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "aim," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this release are only predictions. Jaguar has based these forward-looking statements largely on its current expectations and projections about future events. These forward-looking statements speak only as of the date of this release and are subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond Jaguar's control. Except as required by applicable law, Jaguar does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

Jaguar-JAGX

Contact Info:

Peter Hodge
phodge@jaguar.health

SOURCE: Jaguar Health, Inc.

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FAQ

What is the purpose of Jaguar Health's joint venture with Filament Health?

The joint venture, named Magdalena Biosciences, focuses on developing natural prescription medicines for mental health conditions, including ADHD in adults.

Who is the acting CEO of Magdalena Biosciences?

Dr. Karen Brunke has been appointed as the acting CEO of Magdalena Biosciences.

What companies are involved in the formation of Magdalena Biosciences?

Jaguar Health, Inc. and Filament Health Corp. are the companies behind the formation of Magdalena Biosciences.

What experience do the board members of Magdalena Biosciences have?

The board includes experienced professionals from Jaguar and Filament, with backgrounds in biotechnology and pharmaceuticals, ensuring strong leadership.