Agreement provides Elanco with license rights to Jaguar’s
crofelemer-based drug product candidates for treatment of diarrhea in
dogs and other companion animals
Jaguar Animal Health to host investor call on Tuesday, January 31st
at 9:00 a.m. ET
SAN FRANCISCO--(BUSINESS WIRE)--Jan. 31, 2017--
Jaguar Animal Health, Inc. (NASDAQ: JAGX) and Elanco US Inc., a
subsidiary of Eli Lilly and Company (NYSE: LLY), today announced an
agreement (the “Agreement”) to license, develop, and commercialize
Canalevia™, a Jaguar drug product candidate under
investigation for treatment of acute and chemotherapy-induced diarrhea
(“CID”) in dogs.
Diarrhea is one of the most common reasons for veterinary office visits
for dogs and is the second most common reason for visits to the
veterinary emergency room.
The Agreement grants Elanco exclusive global rights to Canalevia™,
a product whose active pharmaceutical ingredient is sustainably isolated
and purified from the Croton lechleri tree, for use in companion
animals. Jaguar and Elanco will collaborate on the global development of
the product and on its commercialization in the US.
“Elanco continues to seek innovative solutions for our customers and the
animals they care for,” said Aaron Schacht, Vice President of Elanco
Research and Development. “We look forward to collaborating with Jaguar
to bring this potential new, exciting solution to veterinarians around
the world.”
Under the terms of the Agreement, Jaguar will receive an upfront payment
of $1.5 million and additional payments upon achievement of certain
development, regulatory and sales milestones in an aggregate amount of
up to $61 million payable throughout the term of the agreement; product
development expense reimbursement, and royalty payments on global sales.
The Agreement specifies that Jaguar will supply the licensed products to
Elanco, and that the parties will agree to set a minimum sales
requirement that Elanco must meet to maintain exclusivity.
Elanco will also reimburse Jaguar for Canalevia™-related
expenses, including reimbursement for Canalevia™-related
expenses in Q4 2016, certain development and regulatory expenses related
to Jaguar’s planned target animal safety study and the completion of
Jaguar’s field study of Canalevia™ for acute diarrhea in dogs.
“We are very happy to have entered into this strategic collaboration
with Elanco, as they extend their commitment to novel, first-in-class
products for companion animals,” commented Lisa Conte, Jaguar’s
president and CEO. “Elanco is a recognized leader in animal health with
great commercial reach. We believe this Agreement will significantly
expand market awareness regarding the novel, anti-secretory mechanism of
action of crofelemer and its potential to serve as a new method of
treating diarrheal diseases. We anticipate that commercialization of
Canalevia™ will expand our range of first-in-class
gastrointestinal products beyond production animals, horses and foals to
companion animals in need around the world, and we believe that the
collaboration with Elanco will provide broad access to key markets
globally.”
Jaguar has retained the commercial responsibility for the CID indication
of Canalevia™ in dogs, which has received MUMS designation
from the FDA and which the company expects will be the first indication
available commercially in the next year. Jaguar has established a
foundation of direct educational and promotional capabilities for novel
anti-secretory agents through its non-prescription product line for
production animals.
Conference Call
The Jaguar Animal Health management team will host a call on Tuesday,
January 31, 2017 at 9:00 a.m. Eastern Time to discuss the Elanco
agreement and Canalevia™. Investors interested in listening
to the live call should dial 1-888-724-9518 (Toll Free), 1-913-312-0836
(International). Please ask the operator to join you into the call or
provide the conference ID number: 6523542. A live webcast of the
conference call will be available online which can be accessed on the
Investor Relations section of the Jaguar website (click
here). Please allow extra time prior to the call to visit the site
and download any necessary software to listen to the live broadcast.
For interested individuals unable to join the conference call, a replay
of the webcast will be available on the Investor Relations section of
the Company’s website (click
here) for 90 days following the call. Also, a dial-in replay of the
call will be available through February 7, 2017, at +1-844-512-2921
(U.S. Toll Free) or 1-412-317-6671 (International). Participants must
use the following code to access the dial-in replay of the call: 6523542.
About Elanco
Elanco provides comprehensive products and knowledge services to improve
animal health and food-animal production in more than 70 countries
around the world. We value innovation, both in scientific research and
daily operations, and strive to cultivate a collaborative work
environment for more than 6,500 employees worldwide. Together with our
customers, we are committed to raising awareness about global food
security and celebrating and supporting the human-animal bond. Founded
in 1954, Elanco is a division of Eli Lilly and Company. Elanco US Inc.,
a wholly-owned subsidiary of Lilly, is the U.S. entity acquired as part
of the Novartis acquisition. Our worldwide headquarters and research
facilities are located in Greenfield, Indiana. Visit us at elanco.com.
About Jaguar Animal Health, Inc.
Jaguar Animal Health, Inc. is an animal health company focused on
developing and commercializing first-in-class gastrointestinal products
for companion and production animals, foals, and high value horses.
Canalevia™ is Jaguar’s lead prescription drug product
candidate, intended for the treatment of various forms of diarrhea in
dogs. Equilevia™ (formerly referred to as SB-300) is Jaguar’s
prescription drug product candidate for the treatment of
gastrointestinal ulcers in horses. Canalevia™ and Equilevia™
contain ingredients isolated and purified from the Croton lechleri
tree, which is sustainably harvested. Neonorm™ Calf and
Neonorm™ Foal are the Company’s lead non-prescription
products. Neonorm™ is a standardized botanical extract
derived from the Croton lechleri tree. Canalevia™ and
Neonorm™ are distinct products that act at the same last step
in a physiological pathway generally present in mammals. Jaguar has nine
active investigational new animal drug applications, or INADs, filed
with the FDA and intends to develop species-specific formulations of
Neonorm™ in six additional target species, formulations of
Equilevia™ in horses, and Canalevia™ for cats and
dogs.
For more information, please visit www.jaguaranimalhealth.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking
statements” within the meaning of section 27A of the Securities Act of
1933 and section 21E of the Securities Exchange Act of 1934. These
include statements regarding the expectation that the relationship
between Jaguar and Elanco will bring Canalevia™ to
veterinarians around the world; Jaguar’s expectation that the Company
will receive an upfront payment of $1.5 million and additional payments
upon achievement of certain development, regulatory and sales milestones
in an aggregate amount of up to $61 million payable throughout the term
of the agreement; product development expense reimbursement, and royalty
payments on global sales; Jaguar’s expectation that Elanco will
reimburse the Company for Canalevia™-related expenses,
including reimbursement for Canalevia™-related expenses in Q4
2016, certain development and regulatory expenses related to Jaguar’s
planned target animal safety study and the completion of Jaguar’s field
study of Canalevia for acute diarrhea in dogs; the Company’s belief that
the Agreement will significantly expand market awareness regarding the
novel anti-secretory mechanism of action of crofelemer and its potential
to serve as a new method of treating diarrhea diseases; Jaguar’s
expectation that commercialization of Canalevia™ will expand
the Company’s range of first-in-class gastrointestinal products beyond
production animals, horses and foals to companion animals in need around
the world; Jaguar’s belief that the collaboration with Elanco will
provide broad access to key markets globally; Jaguar’s expectation that
Canalevia™ for treatment of CID will be the Company’s first
indication available commercially in the next year; and Jaguar’s
intention to develop species-specific formulations of Neonorm™
in six additional target species, formulations of Equilevia™
in horses, and Canalevia™ for cats and dogs. 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. Elanco and Jaguar have based these
forward-looking statements largely on their 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 Elanco or Jaguar’s control.
Except as required by applicable law, neither Elanco nor Jaguar 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.
Jaguar-JAGX
View source version on businesswire.com: http://www.businesswire.com/news/home/20170131005518/en/
Source: Jaguar Animal Health, Inc.
Jaguar Contact:
KCSA Strategic Communications
Garth
Russell, 212-896-1250
grussell@kcsa.com
or
Elanco
Contact:
Keri McGrath Happe, 317-370-8394
Elanco
Communications Manager
mcgrath_happeks@elanco.com
