Jaguar Animal Health, Inc., a San Francisco, CA-based company focused on the development and commercialization of health solutions for the global veterinary marketplace from plants used traditionally in rain forest areas, raised $2m in a Series A round of financing.
The round was led by BioVeda China Fund, a private equity and growth capital investor based in China, which will invest another $3m by the end of February 2014.
Jaguar, which was founded with seed funding and resources from Napo Pharmaceuticals and existing investors, is developing products which will target companion animals, high valued racing animals, and food and farm animals with both prescription pharmaceuticals and nutraceuticals.
The company has an exclusive worldwide license from Napo for all animal rights to products developed from Croton lechleri, in addition to Napo’s medicinal plant library and NP-500, a drug candidate to potentially treat insulin resistant syndrome and Type II diabetes. Jaguar will also, pursuant to the license agreement, receive certain manufacturing equipment and an inventory of products derived from Croton lechleri.
The company intends to use the funds for operations including studies of SP-303, a pharmaceutical compound isolated and purified from Croton lechleri, and SB-300, a standardized botanical extract/nutraceutical product derived from Croton lechleri. Funds will also be used to complete market studies, hiring of personnel, establishing manufacturing capabilities, and regulatory activities.