GEN to Commercialize Jaguar Health's Crofelemer in Turkey and Eight Neighboring Countries and Invest $2 Million in Jaguar Stock at 75% Premium to Market

Agreement terms to include payment of double-digit royalties to Jaguar on all Crofelemer products sold in the licensed territory

SAN FRANCISCO, CA / ACCESSWIRE / March 20, 2024 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar") today announced that it has signed a binding term sheet covering the exclusive license and commercialization agreement ("the Agreement") for Jaguar's novel plant-based, FDA-approved prescription drug crofelemer with Turkish specialty pharmaceutical company Gen Ilac Ve Saglik Urunleri Sanayi Ve Ticaret, A.S. ("GEN") (GENIL.IS).

The Agreement will entail a $2 million investment by GEN in Jaguar stock at a 75% premium to the market price, payment of double-digit royalties to Jaguar on all finished crofelemer products sold in the licensed territory, and transfer pricing terms for crofelemer supplied by Jaguar. As a result of this investment, GEN will own 6.7% of the shares of Jaguar common stock outstanding as of March 18, 2024.

The Agreement will cover Jaguar's FDA-approved indication of crofelemer (trade name Mytesi) for HIV-related diarrhea and all potential crofelemer follow-on indications, including cancer therapy-related diarrhea - the subject of Jaguar's placebo-controlled pivotal Phase 3 OnTarget trial, as well as the rare disease indications short bowel syndrome (SBS) and microvillus inclusion disease (MVID), and any other possible future human indications for crofelemer.

The Agreement will allow GEN to manufacture crofelemer finished product and market the drug for all above-referenced indications in Turkey, Belarus, Ukraine, Azerbaijan, Uzbekistan, Kazakhstan, Turkmenistan, Russia, and Georgia following GEN's receipt of regulatory approval for crofelemer for these indications in these countries.

"We are very happy about the commitment Jaguar and GEN have made to enter an exclusive license and commercialization agreement," said Lisa Conte, Jaguar's president and CEO. "This initiative underscores Jaguar's mission and common vision with GEN to provide patients around the world with access to prescription pharmaceuticals for essential supportive care and management of neglected symptoms across multiple complicated disease states such as cancer, SBS, and MVID."

"We are thrilled about our license and commercialization agreement for crofelemer with Jaguar," said Abidin Gülmüş, GEN's CEO. "GEN's business model centers on partnering with global innovator pharmaceutical companies like Jaguar to bring therapies to our territories to serve significant unmet medical needs."