Jaguar Health enters license agreement with Future Pak

Jaguar Health (JAGX) announced that its wholly-owned subsidiary Napo Pharmaceuticals has entered into a U.S. licensing agreement with an affiliate of privately held Future Pak. Under the terms of the agreement, Future Pak will be the exclusive marketer for Mytesi, Jaguar’s FDA-approved novel prescription drug for the symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on antiretroviral therapy, and Canalevia-CA1, Jaguar’s crofelemer prescription drug for the treatment of chemotherapy-induced diarrhea in dogs. Jaguar will receive an $18 million upfront fee and up to $20 million in milestone payments and other future payments. Jaguar will continue to manufacture Mytesi and Canalevia-CA1 for Future Pak. As stated above, the agreement also provides Future Pak with an exclusive license to Canalevai-CA1, Jaguar’s supportive care GI drug for dogs. Per the terms of the agreement, Jaguar has a 12-month right to reacquire Future Pak’s Mytesi and Canalevia-CA1 rights in the event of U.S. regulatory approval of mutually agreed-upon additional crofelemer indications in the same formulation as Mytesi after a specified period. This structure preserves Jaguar’s optionality as the company’s rare-disease pipeline progresses and benefits from Jaguar’s sharp strategic focus on rare disease indications for crofelemer over the next few years.