Jaguar Health, Filament Health form joint venture Magdalena Biosciences

Jaguar Health, Filament Health and One Small Planet announced the formation of a U.S.-based joint venture named Magdalena Biosciences, Inc. to develop novel, natural prescription medicines derived from plants for mental health indications including attention-deficit/hyperactivity disorder in adults. Initial funding of US$1,000,000 will be invested by Boulder, Colorado-based One Small Planet, founded by Will Peterffy. This funding will be payable in quarterly installments in 2023 based on the achievement of defined milestones by Magdalena Biosciences. The goal of the collaboration is to extend the botanical drug development capabilities of Jaguar and Filament in order to develop pharmaceutical-grade, standardized drug candidates for mental health disorders, and to partner with a potential future licensee to develop and commercialize these novel plant-based drugs.