Jaguar Health executes out-license dal with JV Magdalena Biosciences

Jaguar Health (JAGX) announced that the company’s out-licensing agreement with Magdalena Biosciences, the joint venture formed by Jaguar and Filament Health Corp. (FLHLF) to develop novel, natural prescription medicines derived from plants for mental health indications, has been expanded to cover ethnobotanical know-how related to development of a prescription drug compound from a specified medicinal plant for possible schizophrenia and psychoses indications and for development with potential corporate partners. “We are very happy to have executed the out-licensing arrangement with Magdalena related to the Botanical Drug Candidate,” said Lisa Conte, Jaguar’s president and CEO. “The amended license agreement between Jaguar and Magdalena stipulates that Jaguar will receive 10% of all upfront payments, milestone payments, and similar payments received by Magdalena as part of any business development partnerships Magdalena enters for the Botanical Drug Candidate, excluding commercial milestones and R&D reimbursements, up to a defined cap amount. The amended license agreement also stipulates that Jaguar will receive royalties on annual net sales of the Botanical Drug Candidate by Magdalena and any sublicensees, if the Botanical Drug Candidate receives FDA approval and is commercialized, with the royalty percentage increasing if annual net sales surpass a defined dollar amount.” Neuropsychopharmacology profile analysis shows the Botanical Drug Candidate demonstrates antipsychotic activity and has a mechanism of action distinct from FDA-approved therapies for schizophrenia and other mental conditions that present psychotic symptoms. Magdalena, which is approximately 40-percent owned by Jaguar, is focused on advancing plant-based innovation for patients and on identifying the next generation of plant-based first-in-class agents for treatment of mental health conditions. The Botanical Drug Candidate has a long history of use by traditional healers and may have the potential to be the first in a new class of plant-based antipsychotic compounds.