Magdalena Biosciences, a joint venture between Jaguar Health and Filament Health, is set to present at the BIO Investor Forum on October 16, 2024, to discuss the development of MB2500, a novel botanical drug candidate for mental health indications. The company anticipates submitting an Investigational New Drug (IND) application to the FDA in early 2025 for attention deficit hyperactivity disorder (ADHD) and is exploring its potential in treating cognitive deficits in schizophrenia. This initiative addresses significant unmet needs in both the ADHD and schizophrenia markets, offering a potential first-ever treatment for cognitive deficits associated with schizophrenia.
MB2500: A Novel Botanical Drug Candidate
MB2500 is derived from a well-characterized plant known for its neuroprotective and cognitive-enhancing properties. This botanical drug candidate has a history of use by local populations and is now undergoing rigorous clinical testing for FDA approval. Magdalena Biosciences is focused on advancing plant-based innovations to create a new class of psychoactive drugs suitable for daily at-home dosing.
Targeting ADHD and Schizophrenia Markets
ADHD, a $25 billion global market, is a neurodevelopmental disorder characterized by hyperactivity, inattentiveness, and impulsivity. There is a growing need for safer and more effective treatments for ADHD, particularly among children. Schizophrenia, affecting approximately one percent of the U.S. population, is a chronic and disabling mental illness. The global schizophrenia market is projected to reach $13.41 billion by 2032. A significant unmet need in schizophrenia treatment is addressing cognitive deficits, which can appear up to a decade before psychotic symptoms manifest. Currently, no approved drugs specifically target these cognitive deficits.
Strategic Focus and Future Plans
Magdalena Biosciences, approximately 40% owned by Jaguar Health, is dedicated to identifying and developing plant-based agents for mental health conditions. The company plans to IND-enable one or two additional botanical drug candidates in 2025, further expanding its pipeline of potential treatments. Dr. Karen Brunke, Jaguar's EVP and Acting CEO of Magdalena, expressed enthusiasm about MB2500's potential, highlighting its prospects as a treatment for both ADHD and the cognitive deficits in schizophrenia.
