"There was litigation financed debt that needed to be restructured," Conte said. She added that as a part of the settlement, Jaguar received the licensing rights to Mytesi back from Valeant.
"When you settle, that's technically considered a win," Conte added. "We needed to restructure that debt to allow Napo to go forward."
That five-year-long lawsuit came to an end last May, which is when the two started discussing plans for reintegration. Much of the staff worked for both companies already anyway, Conte told The Deal in October.
After the deal closed, the two likely would focus on reintegration before doing more deals. However, Conte noted that now that the litigation is behind Jaguar, the company can focus on forming partnerships with others for licensing and marketing deals.
According to Conte, Jaguar is in exclusive talks over rights to its horse diarrhea drug with a large animal health company. However, she was unable to reveal which company Jaguar is in talks with.
Reed Smith LLP and Stifel Nicolaus & Company Inc. are serving as Jaguar's legal and financial advisers, respectively on the deal. Meanwhile, Napo engaged Boies Schiller Flexner as its legal adviser on the deal.