SAN FRANCISCO--(BUSINESS WIRE)--Dec. 14, 2017--
Jaguar Health, Inc. (NASDAQ: JAGX) (Jaguar), a natural-products
pharmaceuticals company focused on developing and commercializing novel,
sustainably derived gastrointestinal products for both human
prescription use and animals on a global basis, announced today that it
has entered into a collaboration agreement (the Agreement) with Seed
Mena Businessmen Services LLC (SEED) for Equilevia™, Jaguar’s
non-prescription, personalized, premium product for total gut health in
equine athletes. Based in Dubai in the United Arab Emirates (UAE), SEED
is affiliated with Seed Group, a diversified group of companies under
the umbrella of The Private Office of His Royal Highness Sheikh Saeed
Bin Ahmed Al Maktoum establishing strategic partnerships with
multinational companies from around the globe in an aim to leverage Seed
Group’s network to support potential business expansion in the MENA
(Middle East and North Africa) region.
Equilevia™ contains ingredients isolated and purified from
the medicinal Croton lechleri tree, which is sustainably
harvested from the rainforest. Equilevia™ acts locally in the
gut. Gut health is of critical importance in competitive horses, as
conditions such as ulcers can meaningfully impair equine athlete
performance, and colic can lead to the death of an otherwise healthy
horse in a matter of hours. According to a third-party 2005 study, as
many as 55% of performance horses have both colonic and gastric ulcers,
and 97% of performance horses have either a gastric (87%) or a colonic
(63%) ulcer.1
“In the Gulf economies, the traditional hobbies of local populations
have become widespread activities—and nowhere is this more true than for
horses, an age-old passion of the region’s Bedouin tribes. The
modernization of the competitive equine industry in the UAE has mirrored
the development of the nation, and the country has become a global
leader in horse racing, equine endurance competitions, and other equine
athletic activities,” commented Mohammed Al Banna, Senior Director,
International Ventures at Seed Group. “We look forward to capitalizing
on SEED’s network and contacts in the private and public sector in the
UAE as part of our strategic partnership with Jaguar to drive improved
gut health management in these exquisite athletes through Equilevia™
awareness and sales in the region.”
In 2017, 7,399 horses and 1,437 “equine athletes” from the UAE
Equestrian & Racing Federation, which supervises the organization of
equestrian and racing activities in the UAE, are registered with The
International Federation for Equestrian Sports, the international
governing body of equestrian athletics. Approximately 2,000 active
endurance-racing horses and 87 racing stables in the UAE were listed by
the Emirates Equestrian Federation in 2012.
“The need for a personalized, premium product for total gut health in
equine athletes was originally identified by the late Dr. Mike
Hauser—Jaguar’s former chief veterinarian and the former head of the
world-renowned Dubai Equine Hospital,” Lisa Conte, Jaguar's president
and CEO, stated. “Mike had an intimate understanding of the training
conditions and value of equine health in the UAE, and he is frequently
credited with being the primary force behind bringing leading-edge
equine medicine and surgery to the Middle East. We’re very excited about
a new potential approach for total gut health in competitive horses—and
about our new partnership with SEED—and in the UAE region we plan to
focus initial sales and collaborative efforts on particular stables,
tailored to the particular equine husbandry practices of specific
organizations and even individual high-end equine athletes. The terms of
the Agreement reflect the financial impact we expect Equilevia™
to have on Jaguar’s business, with potentially hundreds to thousands of
horses treated regularly to maintain wellness. We’re so pleased to have
entered a collaboration intended to supplement our commercial human
pharmaceutical business with a product designed for the most venerable
participants in the sport of kings.”
Jaguar has tested Equilevia™ for safety and wellness in both
racing horses and horses in training. The results of testing in actively
racing horses resulted in more top placements and greater purses for
horses given Equilevia™ than for horses on placebo, as well
as observations of improved equine “wellness.”
According to the terms of the Agreement, Jaguar will pay SEED an ongoing
percentage of revenue generated from any clients or partners introduced
to Jaguar by SEED, and the agreed-upon revenue percentage increases
after the first one-million dollars of revenue.
About Jaguar Health, Inc.
Jaguar Health, Inc. is a natural-products pharmaceuticals company
focused on developing and commercializing novel, sustainably derived
gastrointestinal products for both human prescription use and animals on
a global basis. Our wholly-owned subsidiary, Napo Pharmaceuticals, Inc.,
focuses on developing and commercializing proprietary human
gastrointestinal pharmaceuticals for the global marketplace from plants
used traditionally in rainforest areas. Our Mytesi®
(crofelemer) product is approved by the U.S. FDA for the symptomatic
relief of noninfectious diarrhea in adults with HIV/AIDS on
antiretroviral therapy. Canalevia™ is our lead animal
prescription drug candidate, intended for treatment of various forms of
diarrhea in dogs. Equilevia™ is Jaguar’s non-prescription
product for total gut health in equine athletes. Canalevia™
and Equilevia™ contain ingredients isolated and purified from
the Croton lechleri tree, which is sustainably harvested. Neonorm™
Calf and Neonorm™ Foal are Jaguar’s lead non-prescription
animal products. Mytesi®, Canalevia™, Equilevia™
and Neonorm™ are distinct products that act at the same last
step in a physiological pathway generally present in mammals.
For more information about Jaguar, please visit jaguar.health.
For more information about Napo, visit napopharma.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking
statements.” These include statements regarding the expectation that
Jaguar and SEED will capitalize on SEED’s network and contacts in the
private and public sector in the UAE and drive Equilevia™
awareness and sales in the region, a new potential approach for total
gut health in competitive horses, the financial impact Jaguar expects
Equilevia™ to have on the Company’s business, with
potentially hundreds to thousands of horses treated regularly to
maintain wellness, and planned, potential follow-on indications for
Mytesi®. 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.
Jaguar has based these forward-looking statements largely on its 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 Jaguar’s
control. Except as required by applicable law, Jaguar does not 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.
1Pellegrini FL. Results of a large-scale necroscopic study of
equine colonic ulcers. J Equine Vet Sci. 2005;25(3):113-117.
Jaguar-JAGX
View source version on businesswire.com: http://www.businesswire.com/news/home/20171214005874/en/
Source: Jaguar Health, Inc.
Jaguar Health, Inc.
Peter Hodge
phodge@jaguar.health
