Jaguar Health, Inc. Secures Licensing Agreement with GEN for Crofelemer in Nine Countries

Jaguar Health, Inc. (NASDAQ:JAGX) announced a significant licensing and commercialization deal with Gen Ilac Ve Saglik Urunleri Sanayi Ve Ticaret, A.S. ("GEN"), a Turkish specialty pharmaceutical company. The agreement entails GEN investing $2 million in Jaguar stock at a 75% premium, highlighting strong corporate confidence. Beyond investment, the deal includes the payment of double-digit royalties to Jaguar for sales of the FDA-approved, plant-based drug crofelemer in the licensed territory.

The licensed territory spans Turkey and eight neighboring countries, including Russia, Ukraine, and Kazakhstan, among others. This geographic expansion aims to treat a wide array of gastrointestinal symptoms across various diseases like HIV-related diarrhea and cancer therapy-related diarrhea, leveraging crofelemer's FDA-approved indication under the trade name Mytesi®. GEN's ability to market crofelemer for these indications depends on receiving regulatory approval in these countries.

The CEOs of both companies expressed enthusiasm for the partnership, emphasizing their shared goal of addressing significant unmet medical needs in the region. GEN's experience and network within these territories are poised to enhance patient access to essential supportive care and management for neglected symptoms across multiple complicated disease states.