Jaguar Animal Health, Inc. (NASDAQ: JAGX) (Jaguar), an animal
health company focused on developing and commercializing
first-in-class gastrointestinal products for companion and
production animals, foals, and high value horses, today announced
that the Organic Materials Review Institute (OMRI) has reviewed
Neonorm™ Calf, one of Jaguar’s lead non-prescription products, and
determined that it is allowed for use in compliance with the U.S.
Department of Agriculture (USDA) National Organic Program. OMRI is
an international nonprofit organization that determines which input
products are allowed for use in organic production and
processing.
Neonorm™ Calf has been formulated and clinically tested to help
proactively retain fluid in dairy calves and reduce the severity of
diarrhea—aiding calves in avoiding debilitating, dangerous levels
of dehydration associated with scours. Neonorm™ is a standardized
botanical extract derived from the Croton lechleri tree, which is
sustainably harvested. OMRI evaluated Neonorm™ Calf for use in
organic production for the category of Livestock Health Care, and
Jaguar will be adding the OMRI Listed® seal to Neonorm™ Calf
product labels.
According to the Organic Trade Association’s (OTA’s) 2017
Organic Industry Survey, “The robust American organic sector stayed
on its upward trajectory in 2016, gaining new market share and
shattering records, as consumers across the United States ate and
used more organic products than ever before. Organic sales in the
U.S. totaled around $47 billion in 2016, reflecting new sales of
almost $3.7 billion from the previous year. The $43 billion in
organic food sales marked the first time the American organic food
market has broken though the $40-billion mark. Organic food now
accounts for more than five percent—5.3 percent to be exact—of
total food sales in this country, another significant first for
organic.”
According to data announced April 19, 2017 by the USDA, the
organic industry continues to grow domestically and globally, with
24,650 certified organic operations in the United States, and
37,032 around the world. The USDA’s 2016 count of U.S. certified
organic farms and businesses reflects a 13 percent increase between
the end of 2015 and 2016, continuing the trend of double digit
growth in the organic sector. According to a representative of the
NY Organic Dairy Initiative, in 2013 there were more than 400
certified organic dairies in New York state alone—which at that
time amounted to approximately 10 percent of all New York dairy
farms. A report published by Allied Market Research states that the
global market for organic dairy food and drinks—organic milk,
yogurt, cheese, and others—is expected to grow at a compound annual
growth rate of 14.25% from 2016 to reach $36.7 billion by 2022 from
$14.5 billion in 2015.
“Organic livestock production plays a vital role in support of a
sustainable and safe farm and food system, both in the U.S. and
internationally,” commented Dr. Steven King, Executive Vice
President of Sustainable Supply, Ethnobotanical Research and IP at
Jaguar. “Neonorm™ Calf, and the standardized botanical extract it
contains, are the result of decades of research that began with the
expertise of traditional healers of the Amazon rainforest, and
we’re very pleased that Neonorm™ Calf is now an OMRI Listed®
product.”
Kathie Arnold, a dairy farmer at Twin Oaks Dairy—a Truxton, NY
dairy farm that has been certified organic since 1998—recently
commented, “Neonorm™ Calf gives us another welcome tool in the
toolbox for our certified organic calves.”
As announced earlier this month, Jaguar recently launched
neonorm.com, a commercial website for Neonorm™ Calf and Neonorm™
Foal. Neonorm.com allows online ordering of both products directly
from Jaguar and features in-depth product information, customer
testimonials, and FAQs to help drive sales. The new site is a
component of the integrated, multichannel marketing initiatives
Jaguar launched during the first half of 2017 in support of
Jaguar’s Neonorm™ commercial strategy of connecting directly with
dairy and beef farmers, bovine veterinarians, equine veterinarians,
horse owners and other members of the equine community in a
targeted, engaging way to help build the Neonorm™ brand and drive
sales—both directly and through Jaguar’s core dairy market
distributor as well as Henry Schein, Inc., Jaguar’s exclusive
distributor for Neonorm™ Foal.
“Jaguar is focused on expanding market awareness regarding the
novel, anti-secretory mechanism of action common to Neonorm™ Calf,
Neonorm™ Foal and the drug product candidates in our pipeline.
Based on analysis of Neonorm™ Calf and Neonorm™ Foal sales by our
distributors this year versus last year, our commercial efforts
appear to be making an important impact,” stated Lisa Conte,
Jaguar’s president and CEO and Napo’s interim CEO.
Proposed Merger
As announced March 31, 2017, Napo and Jaguar have entered a
definitive merger agreement. The proposed merger of Jaguar and Napo
remains subject to customary conditions to closing. Upon the
consummation of the merger, Jaguar’s name will be changed to Jaguar
Health, Inc., and Napo will operate as a wholly-owned subsidiary of
Jaguar, focused on human health. As previously stated, Jaguar and
Napo expect the merger to close by the end of July 2017.
About Napo Pharmaceuticals, Inc.
San Francisco-based Napo Pharmaceuticals, Inc. focuses on the
development and commercialization of proprietary pharmaceuticals
for the global marketplace in collaboration with local
partners.
For more information, please visit www.napopharma.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 Jaguar’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 about Jaguar, please visit
www.jaguaranimalhealth.com.
Forward-Looking Statements
Certain statements in this press release constitute
“forward-looking statements.” These include statements regarding
the proposed merger between Jaguar and Napo, the expectation that
the proposed merger will close by the end of July 2017, Jaguar’s
intention to develop species-specific formulations of Neonorm™ in
additional target species, and Jaguar’s plan to develop
formulations of Canalevia™ for cats, horses 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. 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.
Jaguar-JAGX
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version on businesswire.com: http://www.businesswire.com/news/home/20170614005535/en/
KCSA Strategic CommunicationsGarth Russell,
212-896-1250grussell@kcsa.com
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