SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Napo Pharmaceuticals, Inc., (“Napo”) of South San Francisco, California, whose novel anti-diarrheal compound crofelemer is currently in late-stage clinical development has received an initial cornerstone investment in a wholly owned subsidiary, Crofelemer Access Program (“CAP”) Global LLC, from Asset Management Company, a pioneer healthcare venture capital firm in Palo Alto, California, through its founder Pitch Johnson. Investors in CAP Global will receive royalties from the sale of crofelemer (pending successful registration of crofelemer as an FDA approved product) in western territories (North America, EU countries and Japan) and the opportunity to convert their interest in CAP Global to Napo common stock.
