Jaguar Animal Health Signs With Elanco Global To Co-Promote Canalevia

(RTTNews) - Jaguar Animal Health, Inc. (JAGX) and Elanco US Inc., a subsidiary of Eli Lilly and Co. (LLY), Tuesday announced an agreement to license, develop, and commercialize Canalevia, a Jaguar drug product candidate. Canalevia is under investigation for treatment of acute and chemotherapy-induced diarrhea in dogs. Jaguar and Elanco will collaborate on the global development of the product and on its commercialization in the US.

As per the agreement, Jaguar will receive an upfront payment of $1.5 million and additional payments upon achievement of certain development, regulatory and sales milestones in an aggregate amount of up to $61 million payable throughout the term of the agreement.

Diarrhea is one of the most common reasons for veterinary office visits for dogs and is the second most common reason for visits to the veterinary emergency room.