Jaguar Health Announces Import of Coca Leaf From Peru by Joint Venture Magdalena Biosciences for Research in Treating Mental Health Indications
Rhea-AI Summary
Jaguar Health (NASDAQ:JAGX) announced that its joint venture, Magdalena Biosciences, has successfully imported 6 kilograms of coca leaf from Peru to Filament's Vancouver facility. The import, authorized by Peru's Health Authority DIGEMID and sourced from ENACO, marks Magdalena's second coca leaf import into Canada.
The initiative aims to develop novel plant-based prescription medicines for mental health conditions, particularly exploring coca leaf's therapeutic potential for ADHD and other neuropsychiatric indications. Dr. Steven King, Jaguar's Chief Sustainable Supply Officer, will present on coca-based Botanical Drugs at the Wisdom of the Leaf Coca Summit in February 2025.
Magdalena's mission focuses on developing FDA-approved plant-based drugs for conditions including schizophrenia, anxiety, depression, and ADHD, emphasizing potentially safer alternatives to traditional medications that may have side effects.
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News Market Reaction
On the day this news was published, JAGX gained 1.52%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Magdalena to explore coca leaf's possible therapeutic benefit for treatment of potentially ADHD or other neuropsychiatric indications
The import was conducted in collaboration with the government of Peru
Steven King, Ph.D. of Jaguar to speak about the potential promise of coca-based Botanical Drugs at the February 2025 Wisdom of the Leaf Coca Summit in Peru
Magdalena is focused on developing novel, natural prescription medicines derived from plants for mental health indications
SAN FRANCISCO, CA / ACCESSWIRE / December 19, 2024 / Jaguar Health, Inc.(NASDAQ:JAGX) ("Jaguar") today announced that Magdalena Biosciences, Inc. ("Magdalena"), a joint venture formed by Jaguar and Filament Health Corp. (OTCQB:FLHLF)(Cboe CA:FH)(FSE:7QS) ("Filament" or "Filament Health"), successfully completed an import of six kilograms of coca leaf from Peru to Filament's Metro Vancouver research and development facility. This is the second import of coca leaf into Canada that Magdalena has completed. It was authorized by the Peruvian Health Authority, Dirección General de Medicamentos Insumos y Drogas (DIGEMID), and acquired from the Empresa Nacional de la Coca (ENACO), the only company in Peru authorized to distribute coca leaf.
Image of coca leaves. © Steven King, Ph.D.
"We are pleased to partner with Filament Health and Magdalena to facilitate this second import of coca leaf," said Silveria Dongo Gonzales, Technical Director of ENACO. "We appreciate Filament and Magdalena's diligent efforts in maintaining a productive relationship with ENACO."
"We are delighted to be continuing our collaboration and partnership with ENACO and the people who hold the coca leaf sacred as part of their daily lives in the Andean region of Peru," said Steven King, Ph.D., Jaguar's Chief Sustainable Supply and Ethnobotanical Research Officer and an Advisor to Magdalena. "We believe that the development of Botanical Drugs from ‘whole extract' coca leaf can provide therapeutic benefit, and that the development process will benefit the people of Peru, who have been sustainably producing coca leaves for several thousand years."
Dr. King will be presenting more details about the potential promise of whole extract coca leaf Botanical Drugs at The McKenna Academy of Natural Philosophy's groundbreaking Wisdom of the Leaf Coca Summit, which takes place February 3-7, 2025 in Peru.
Magdalena's mission is to develop novel, safe, efficacious next-generation psychoactive FDA-approved plant-based drugs under FDA Botanical Guidance for mental health indications including schizophrenia, anxiety, depression, and cognitive deficits in attention-deficit/hyperactivity disorder (ADHD). The coca leaf imported from Peru will be used for the development of a Botanical Drug candidate for the treatment of potentially ADHD or other neuropsychiatric indications.
"By importing this significant volume of raw material, we are able to begin the important work of exploring coca leaf's therapeutic potential for the treatment of ADHD," said Benjamin Lightburn, Chief Executive Officer of Filament Health and Magdalena Board Member. "This import was a significant regulatory achievement by our team and we are grateful to the Peruvian government for its ongoing partnership."
"We look forward to Magdalena continuing its pioneering research into the potential medicinal benefits of coca," said Dr. King. "Many commonly used neuropsychiatric prescription medications have side effects such as personality changes or sedation. With centuries of use by Indigenous healers and traditional psychiatrists, plant-derived medicines offer potential new mechanisms of action for treating mental disorders while being potentially safer than the small molecule drugs that may have ‘off target' effects."
"Plant-based drugs offer new opportunities and new mechanisms of action, as highlighted in an article in The New York Times on December 16, 2024 titled "Seeking Relief From Brain Injury, Some Veterans Turn to Psychedelics," which focuses on ibogaine, an alkaloid derived from the bark of the iboga tree," said Dr. Karen Brunke, Jaguar's EVP of Corporate and Business Development and Acting CEO of Magdalena.
ABOUT MAGDALENA BIOSCIENCES
Jaguar Health, Inc. and Filament Health Corp. formed Magdalena Biosciences, Inc. as a joint venture in 2023 to develop novel, natural prescription medicines derived from plants for mental health indications including attention-deficit/hyperactivity disorder (ADHD), depression and anxiety in adults. Boulder, Colorado-based One Small Planet, founded by Will Peterffy, has committed to funding of US
ABOUT FILAMENT HEALTH (OTCQB:FLHLF) (CBOE:FH) (FSE:7QS)
Filament Health is a clinical-stage natural psychedelic drug development company. We believe that safe, standardized, naturally-derived psychedelic medicines can improve the lives of many, and our mission is 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 psychedelic medicines. We are paving the way with what we believe to be the first-ever natural psychedelic drug candidates.
Learn more at www.filament.health and on Twitter, Instagram and LinkedIn.
ABOUT THE JAGUAR HEALTH FAMILY OF COMPANIES
Jaguar Health, Inc. (Jaguar) is a commercial stage pharmaceuticals company focused on developing novel proprietary prescription medicines sustainably derived from plants from rainforest areas for people and animals with gastrointestinal distress, specifically associated with overactive bowel, which includes symptoms such as chronic debilitating diarrhea, urgency, bowel incontinence, and cramping pain. Jaguar family company Napo Pharmaceuticals (Napo) focuses on developing and commercializing human prescription pharmaceuticals for essential supportive care and management of neglected gastrointestinal symptoms across multiple complicated disease states. Napo's crofelemer is FDA-approved under the brand name Mytesi® for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy. Jaguar family company Napo Therapeutics is an Italian corporation Jaguar established in Milan, Italy in 2021 focused on expanding crofelemer access in Europe and specifically for orphan and/or rare diseases. Jaguar Animal Health is a Jaguar tradename. Magdalena Biosciences, a joint venture formed by Jaguar and Filament Health Corp. that emerged from Jaguar's Entheogen Therapeutics Initiative (ETI), is focused on developing novel prescription medicines derived from plants for mental health indications.
For more information about:
Jaguar Health, visit https://jaguar.health
Napo Pharmaceuticals, visit www.napopharma.com
Napo Therapeutics, visit napotherapeutics.com
Magdalena Biosciences, visit magdalenabiosciences.com
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Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements." These include statements regarding Jaguar's expectation that the coca leaf imported from Peru will be used for development of a Botanical Drug candidate for the treatment of potentially ADHD or other neuropsychiatric indications, Jaguar's expectation that the development of Botanical Drugs from ‘whole extract' coca leaf can provide therapeutic benefit and that the development process will benefit the people of Peru, and Jaguar's expectation that Dr. King will present at the 2025 Wisdom of the Leaf Coca Summit. 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.
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SOURCE: Jaguar Health, Inc.
View the original press release on accesswire.com
FAQ
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