Magdalena Biosciences, a Joint Venture between Jaguar Health and Filament Health, Receives Second Tranche of Funding from One Small Planet
Magdalena Biosciences, a joint venture recently formed by Jaguar Health and Filament Health Corp., is focused on developing novel, natural prescription medicines derived from plants for mental health indications
SAN FRANCISCO, CA / ACCESSWIRE / October 30, 2023 / Jaguar Health, Inc. (NASDAQ:JAGX) today announced that Magdalena Biosciences, Inc. (Magdalena), the joint venture recently formed by Jaguar and Filament Health Corp. (OTCQB:FLHLF)(NEO:FH)(FSE:7QS) to develop novel, natural prescription medicines derived from plants for mental health indications such as depression, anxiety, attention-deficit/hyperactivity disorder (ADHD) and other possible neuropsychiatric conditions initially in adults, has received the second tranche of funding from One Small Planet.
As announced, Boulder, Colorado-based One Small Planet, founded by Will Peterffy, committed to initial funding of US$1,000,000 for Magdalena, with the funds payable in quarterly installments in 2023 based on the achievement of defined milestones by Magdalena.
"The Magdalena collaboration was formed to extend the botanical drug development capabilities of Jaguar and Filament in order to develop pharmaceutical-grade, standardized drug candidates for mental health disorders - with the goal of partnering with a potential future licensee to develop and commercialize these novel plant-based drugs," said Dr. Karen Brunke, Jaguar's EVP of Corporate and Business Development and Magdalena's Acting CEO. "We are very thankful for One Small Planet's support, and we are excited to continue our efforts to explore the potential benefits of plants such as coca for ADHD, depression, anxiety, and other neuropsychiatric indications in adults."
"The formation of Magdalena allows for the mobilization of a key asset Jaguar's team has generated over 30 years - a library of 2,300 highly characterized medicinal plants and 3,500 plant extracts, all from firsthand ethnobotanical investigation by Jaguar and members of the Scientific Strategy Team for Jaguar's mental health Entheogen Therapeutics Initiative (ETI), bridging the knowledge of traditional healers and Western medicine," said Steven King, PhD, Jaguar's Chief Sustainable Supply, Ethnobotanical Research, and IP Officer and an Advisor to Magdalena.
Once considered a childhood disorder, ADHD is now acknowledged to persist into adulthood in approximately 50-65% of individuals, and impacts an estimated 5.2% of U.S. adults aged 18-44. Treatment of ADHD remains challenging. An estimated 20-50% of adult patients either are non-responders to stimulants or cannot tolerate the adverse effects of current therapeutics. New therapeutics in development for the global ADHD market, which is projected to reach a value of US$18.69 billion by 2030 according to a report by Grand View Research, show promise but continue to have significant side effects.
Social anxiety and depression are common co-morbidities of ADHD. Social anxiety, typified as extreme fear in social settings and debilitating social withdrawal, often has an age of onset during late childhood. Common treatments include medication and psychotherapy. Unmet needs in the treatment of anxiety disorders include the need for more effective, rapid acting, and better tolerated medications. Botanical drugs offer these potential advantages.
Current medications for treatment of depression are often ineffective as well as personality altering. Unmet needs in depression include medications with greater overall effectiveness as well as improvement in the patient's ability to function day to day. Botanical drugs have the potential to meet these needs while also offering an improved safety profile.
About One Small Planet
One Small Planet is a vital capital group. We are on a mission to harmonize the wealth of people and planet by working with the intelligence of the natural world to evolve our economic systems. Our founder, Will Peterffy, has spent his life building bridges between the natural and financial worlds. Witnessing how economic wealth was not incentivizing ecological wealth, he started One Small Planet to participate in the creation of new global systems informed by the natural world. We work with capital to contribute to new systems focusing on regenerative technologies that support human systems operating in harmony with nature. To learn more visit onesmallplanet.org.
About Magdalena Biosciences
Magdalena Biosciences, a joint venture formed by Jaguar and Filament Health Corp. that emerged from Jaguar's Entheogen Therapeutics Initiative (ETI), is focused on developing novel prescription medicines derived from plants for mental health indications including attention-deficit/hyperactivity disorder (ADHD), depression and anxiety in adults. Boulder, Colorado-based One Small Planet, founded by Will Peterffy, has committed to funding of US$1,000,000. The goal of the collaboration is to extend the botanical drug development capabilities of Jaguar and Filament in order to develop pharmaceutical-grade, standardized drug candidates for mental health disorders. Learn more at magdalenabiosciences.com and on LinkedIn.
About Filament Health
Filament Health (OTCQB:FLHLF)(NEO:FH)(FSE:7QS) is a clinical-stage natural psychedelic drug development company. Filament believes that safe, standardized, naturally-derived botanical medicines can improve the lives of many, with a mission to see them in the hands of everyone who needs them as soon as possible. Filament's platform of proprietary intellectual property enables the discovery, development, and delivery of natural medicines, including psychedelic medicines, for clinical development. Filament is paving the way with the first-ever natural psychedelic drug candidates.
Learn more at www.filament.health and on Twitter, Instagram and LinkedIn.
About the Jaguar Health Family of Companies
Jaguar Health, Inc. (Jaguar) is a commercial stage pharmaceuticals company focused on developing novel proprietary prescription medicines sustainably derived from plants from rainforest areas for people and animals with gastrointestinal distress, specifically associated with overactive bowel, which includes symptoms such as chronic debilitating diarrhea, urgency, and bowel incontinence. Jaguar family company Napo Pharmaceuticals focuses on developing and commercializing human prescription pharmaceuticals for essential supportive care and management of neglected gastrointestinal symptoms across multiple complicated disease states. Napo Pharmaceuticals' crofelemer drug product candidate is the subject of the OnTarget study, an ongoing pivotal Phase 3 clinical trial for preventive treatment of chemotherapy-induced overactive bowel (CIOB) in adults with cancer on targeted therapy. Jaguar family company Napo Therapeutics is an Italian corporation Jaguar established in Milan, Italy in 2021 focused on expanding crofelemer access in Europe and specifically for orphan and/or rare diseases. Jaguar Animal Health is a Jaguar tradename. Magdalena Biosciences, a joint venture formed by Jaguar and Filament Health Corp. that emerged from Jaguar's Entheogen Therapeutics Initiative (ETI), is focused on developing novel prescription medicines derived from plants for mental health indications.
For more information about:
Jaguar Health, visit https://jaguar.health
Napo Pharmaceuticals, visit www.napopharma.com
Napo Therapeutics, visit napotherapeutics.com
Magdalena Biosciences, visit magdalenabiosciences.com
Visit Jaguar on LinkedIn: https://www.linkedin.com/company/jaguar-health/
Visit Jaguar on X: https://twitter.com/Jaguar_Health
Visit Jaguar on Instagram: https://www.instagram.com/jaguarhealthcommunity/
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements." 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.
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SOURCE: Jaguar Health, Inc.
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