Jaguar focuses on the development and commercialization of health solutions for the global veterinary marketplace from plants used traditionally in rain forest areas.
The series A funding round was led by BioVeda China Fund (BVCF), a private equity and growth capital investor based in China. It is reported that they were planning to invest an additional $3m by the end of February 2014.
Dr Zhi Yang, MD, PhD and founder and managing director of BVCF said, “We are very pleased to be making our first investment in animal health for the world markets. This is a focus for us and we plan to expand our portfolio of investments in companies involved in animal health and food security.”
This funding adds to the seed funding and resources that Jaguar secured from Napo Pharmaceuticals and existing Napo investors.
The proceeds of the series A financing will be used 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.