Jaguar Health Provides Replay Link & High-level Overview of January 14th Investor Webcast
Jaguar Health, Inc. (NASDAQ:JAGX) has released a recap of its January 14, 2021 investor webcast and provided a replay link due to high participation. Key highlights include plans to pursue conditional marketing authorization in Europe for crofelemer, aimed at treating 'long-hauler' COVID-19 symptoms. The company announced a securities purchase agreement, raising approximately $15 million, and a $6 million agreement related to Napo's lechlemer drug candidate. Jaguar also discussed establishing Napo EU in Italy, targeting additional value from potential licensing arrangements.
- Plans to pursue conditional marketing authorization for crofelemer in Europe, addressing urgent needs for COVID-19 recovery patients.
- Successfully raised approximately $15 million through a securities purchase agreement.
- Potential for multiple follow-on indications of crofelemer, enhancing its pipeline value.
- Napo EU establishment in Italy expected soon, with prospects for additional financing.
- None.
SAN FRANCISCO, CA / ACCESSWIRE / January 15, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or the "Company") today provided the replay link for the Company's January 14, 2021 investor webcast and a recap of the key points from the presentation.
To access the audio recording and slides from the webcast, click here.
"Due to the unprecedented volume of participants for yesterday's webcast, a number of parties were unable to join the live event," stated Lisa Conte, Jaguar's founder, president, and CEO. "In light of this, we want to make sure investors know that the event audio recording and the corresponding slides can be accessed on the investor relations section of Jaguar's website at the above link."
Key points from Jaguar's January 14, 2021 investor webcast:
- The Company is prioritizing plans to explore the possibility of obtaining conditional marketing authorization in Europe to support development and commercialization of crofelemer, the Company's novel proprietary drug, for the proposed indication of prophylaxis and/or symptomatic relief of inflammatory diarrhea, initially to be studied in a "long-hauler" COVID-19 recovery patient population in Europe. The Company believes there is an urgent need to address patients who have been infected with coronavirus and their "long-hauler" symptoms, and that the urgency of this need is being heightened by the recent detection of mutated, more transmissible strains of the virus. The Company is expending resources with international regulatory experts to prepare a regulatory package for the European Medicines Agency (EMA), Swissmedic, and the Medicines and Healthcare products Regulatory Agency (MHRA) of the United Kingdom as part of the Company's efforts to put a plan in place to pursue conditional approval for this potential COVID-related indication for crofelemer.
- As also announced January 13, 2021, Jaguar has entered into a securities purchase agreement with institutional investors including a high-net-worth family office for the purchase and sale of 4,437,870 shares of common stock at a purchase price of
$3.38 per share for gross proceeds of approximately$15.0 million in a registered direct offering priced above-the-market under Nasdaq rules. - The Company views crofelemer as a pipeline within a product, and believes that each potential crofelemer follow-on indication under development - including cancer therapy-related diarrhea, irritable bowel syndrome, functional diarrhea, inflammatory bowel disease, and rare disorders such as short bowel syndrome and congenital diarrheal disorders - represents ‘another shot on goal' for the Company for a pharmaceutical agent that has already demonstrated safety for chronic use in its approved indication in adult patients with HIV/AIDS on antiretroviral therapy and for which a fully operational global manufacturing supply chain exists.
- As also announced January 13, 2021, Jaguar has entered a binding agreement of terms for
$6.0 million backed by a partial right to proceeds from the sale of a possible tropical disease priority review voucher that Jaguar's wholly owned subsidiary, Napo Pharmaceuticals, Inc. ("Napo") plans to pursue as incentive for the development of Napo's lechlemer drug product candidate for the indication of the symptomatic relief of diarrhea in cholera patients. - Napo EU: The potential COVID-related indication for crofelemer is the subject of the proposed exclusive license from Jaguar's U.S.-based Napo Pharmaceuticals subsidiary to Napo EU, a subsidiary being established by the Company in Italy. Napo EU is the proposed target of a special purpose acquisition company (SPAC) in Europe, where target companies can be named. The timeline to incorporate Napo EU in Italy is being impacted by pandemic-necessitated reductions in administrative and government office operating hours and staffing, and, in some cases, administrative and government office closures. With a process that started in 2020, Napo EU is expected to be established in Italy in the next weeks, not months.
- The Company believes its plans to pursue conditional marketing authorization in Europe for the COVID-related indication may add additional value to such indication, which is the subject of a proposed license to Napo EU. Napo EU will have an exclusive license for Europe (excluding Russia) for crofelemer, the Company's novel proprietary drug, and obligations to develop crofelemer for the indications of inflammatory diarrhea and HIV-related diarrhea.
- The Company completed a ‘test the waters' roadshow in December with approximately 150 European institutional investors in four countries/six cities. More than one potential SPAC sponsor has expressed interest in the potential Napo EU target. The Company expects to select its desired financing pathway for the proposed Napo EU crofelemer indications no later than the end of this quarter, including, hopefully, from an informed and value-enhanced position based on interaction with the EMA regarding a conditional approval pathway.
Mytesi® (crofelemer delayed release tablets), the only oral plant-based prescription medicine approved under FDA Botanical Guidance, is a novel, first-in-class anti-secretory agent which has a basic normalizing effect locally on the gut, and this mechanism of action has the potential to benefit multiple disorders. Mytesi is a non-opiate chloride ion channel modulating antidiarrheal medicine that is approved in the U.S. by the FDA for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy.
About Jaguar Health, Inc. and Napo Pharmaceuticals, Inc.
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, specifically chronic, debilitating diarrhea. Our wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based human gastrointestinal pharmaceuticals from plants harvested responsibly from rainforest areas. Our Mytesi® (crofelemer) product is approved by the U.S. FDA for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy and the only oral plant-based prescription medicine approved under FDA Botanical Guidance.
For more information about Jaguar, please visit https://jaguar.health. For more information about Napo, visit www.napopharma.com.
About Mytesi®
Mytesi® (crofelemer delayed release tablets) 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 (
More information and complete Prescribing Information are available 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." These include statements regarding the possibility of obtaining conditional marketing authorization in Europe to support development and commercialization of crofelemer, the Company's novel proprietary drug, for the proposed indication of prophylaxis and/or symptomatic relief of inflammatory diarrhea, initially to be studied in a "long-hauler" COVID-19 recovery patient population in Europe, the Company's belief that there is an urgent need to address patients who have been infected with coronavirus and their "long-hauler" symptoms, and that the urgency of this need is being heightened by the recent detection of mutated, more transmissible strains of the virus, the Company's belief that each potential crofelemer follow-on indication under development - including cancer therapy-related diarrhea, irritable bowel syndrome, functional diarrhea, inflammatory bowel disease, and rare disorders such as short bowel syndrome and congenital diarrheal disorders - represents ‘another shot on goal' for the Company, the expectation that Napo EU will be established in Italy in the next weeks, not months, the Company's belief that its plans to pursue conditional marketing authorization in Europe for the COVID-related indication may add additional value to such indication, and the Company's expectation that it will select its desired financing pathway for the proposed Napo EU crofelemer indications no later than the end of this quarter, including, hopefully, from an informed and value-enhanced position based on interaction with the EMA regarding a conditional approval pathway. 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.
Contact:
Peter Hodge
Jaguar Health, Inc.
phodge@jaguar.health
Jaguar-JAGX
SOURCE: Jaguar Health, Inc.
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FAQ
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