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Magdalena Biosciences (JAGX), a joint venture between Jaguar and Filament, has initiated a one-month preclinical mice study to evaluate a whole leaf coca extract for appetite suppression and post-GLP-1 weight management, with research conducted in Alberta, Canada on March 16, 2026.
The coca material was supplied by Peru's ENACO with an Internationally Recognized Certificate of Compliance (IRCC) under the Nagoya Protocol. Magdalena also plans to evaluate CNS indications including ADHD under FDA botanical drug guidance.
Jaguar Health (NASDAQ:JAGX) announced that Peru's National Institute of Agrarian Innovation (INIA) has authorized an access and benefit sharing agreement for coca plant research. The agreement, signed with Psilo Scientific (a Filament Health subsidiary), supports the research efforts of Magdalena Biosciences, a joint venture between Jaguar Health and Filament Health.
The agreement focuses on two cultivated coca species - Erythroxylum coca and Erythroxylum novogranatense - and includes an Internationally Recognized Certificate of Compliance (IRCC) under the Convention on Biological Diversity. The research aims to develop novel, natural prescription medicines from coca leaves for mental health and CNS indications under FDA Botanical Guidance.
On June 12, 2024, Negev Capital Fund One, L.P. acquired 42,284,443 common shares of Filament Health Corp. via a convertible note due July 13, 2024, and the exercise of outstanding warrants at CAD$0.05 per share. This transaction raised CAD$864,222.15 for Filament. Negev Capital also converted CAD$1,250,000 worth of debentures into 25,000,000 shares. Prior to this, Negev Capital held 8,951,111 shares (4.2% of Filament).
Post-transaction, they now hold 51,235,554 shares, representing 20% of the total shares. The shares were acquired for investment purposes with no current plans for significant changes. Negev Capital may acquire or dispose of additional shares based on market conditions.
Jaguar Health has announced an out-licensing agreement with Magdalena Biosciences for a botanical drug candidate aimed at treating schizophrenia. This drug shows antipsychotic activity with a unique mechanism of action compared to current FDA-approved therapies. Under the deal, Jaguar will receive 10% of all upfront and milestone payments, excluding certain commercial milestones and R&D reimbursements. Additionally, Jaguar will earn royalties on net sales if the drug is FDA-approved and commercialized. The U.S. schizophrenia market is forecasted to reach $8.06 billion by 2030. Jaguar will present at the Lytham Partners Spring 2024 Investor Conference on May 30.
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Jaguar Health, Inc. (NASDAQ:JAGX) has established the board of directors for its newly formed joint venture, Magdalena Biosciences, Inc., created with Filament Health Corp. (NEO:FH, OTCQB:FLHLF). The joint venture aims to develop natural prescription medicines targeting mental health issues, including ADHD in adults. Dr. Karen Brunke has been appointed as the acting CEO of Magdalena. Board members include Jaguar's CEO Lisa Conte and Filament's CEO Benjamin Lightburn, both bringing extensive experience in biotechnology and pharmaceuticals. This initiative intends to leverage plant-derived therapies for mental health, aligning with Jaguar's mission.
Filament Health has initiated dosing in the first FDA-approved clinical trial of naturally derived psychedelic drugs, specifically psilocin and psilocybin, at UCSF’s Translational Psychedelic Research Program. This phase one trial aims to assess the effects of three proprietary botanical drug candidates on healthy adults. The company recently raised $2.5 million to support its development of stabilized formulations, which may enhance treatment efficacy. This marks a significant milestone, as it is the first time psilocin has been directly administered in a clinical trial.
Filament Health (OTCQB: FLHLF) has announced that CEO Benjamin Lightburn will present live at VirtualInvestorConferences.com on October 14, 2021, at 4:00 PM ET. This event invites investors to engage with real-time questions regarding Filament’s future plans and recent achievements, including a stock uplisting. Notable highlights include approval for trading on the OTCQB, DTC eligibility, and the first public patent for natural psilocybin extraction. The archived webcast will be available for those unable to attend live.