Jaguar Health secures $3M payment from Future Pak

Jaguar Health (JAGX) announced that its wholly-owned subsidiary Napo Pharmaceuticals has received a $3M payment from Future Pak following termination by Jaguar of the buy-back provision of the U.S. licensing agreement Jaguar entered in January with a Future Pak affiliate, which allows Future Pak to continue to commercialize Mytesi beyond five years. Jaguar will continue to manufacture Mytesi and Canalevia-CA1 for Future Pak. Under the terms of the agreement, Future Pak became 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 was provided with $16M of non-dilutive capital in January upon closing of the agreement with Future Pak, with an additional $2M due to Jaguar upon completion of post-closing conditions. Per the terms of the agreement, Jaguar also has the opportunity to receive up to $20M in milestone payments and other future payments.