Jaguar Health Inc (NASDAQ:JAGX) announced recently that it has entered into a collaboration agreement with the Seed Mena Businessmen Services LLC (SEED) for distribution of Equilevia™ for the treatment of total gut in equine athletes. The company plans to drive the improved gut health management in collaboration with the SEED’s extensive network and contact list in both private and public sector across the United Arab Emirates (UAE).
SEED an affiliate company of SEED Group based in Dubai is excited to establish the strategic partnership agreement with multinational companies across the world and aims to use the opportunity it has with Jaguar to leverage its network to support the expansion of its business units in the region.
Jaguar manufactures natural-products and its Equilevia™ contains natural ingredients extracted from a medicinal tree known as the Croton lechleri which is sustainably harvested directly from the rainforests. Equilevia™ is usually administered directly in the gut of an animal. Gut health management is crucial especially in the competitive horses since the condition can cause ulcers and if not well managed, it can impair equine athlete performance leading to the sudden death of an animal in just a matter of hours.
Based on the terms of the agreement, Jaguar is expected to pay SEED a specified percentage of revenue that will be generated from the customers or partners that SEED will refer to Jaguar. The agreed revenue percentage will rise after the first initial payment of $1 million of revenue.
Based on a study conducted in 2005, more than 55% of performance horses were found to have both colonic and gastric ulcers. Horse racing and equine endurance competitions are common activities in the Gulf economies and especially in the UAE where the economic development has mirrored on the equine athletic activities.
In 2017, more than 7,399 horses and 1,437 equine athletes were registered with the International Federation for Equestrian Sports. About 2,000 active endurance-racing horses from the UAE were among the listed groups on the Emirates Equestrian Federation in 2012.