August 28, 2018 11:58 AM Eastern Daylight Time
SIOUX FALLS, S.D.–(BUSINESS WIRE)–SAB Biotherapeutics, Inc. (SAB) a clinical-stage biopharmaceutical development company, has received a $10 million investment from T. Denny Sanford as part of its Series A-2 raise. The businessman and philanthropist previously invested in SAB in 2014.
“SAB Biotherapeutics has made great strides in a relatively short timeframe,” Sanford said. “They have reached key milestones, collaborated with prominent partners, developed a robust product pipeline and are working on near-term solutions to health conditions like cancer and Type 1 diabetes.”
Since its founding in 2014, SAB Biotherapeutics has developed immunotherapies against more than a dozen targets, achieved 100% efficacy in pre-clinical testing and completed Phase 1 trials for treatments for emerging infectious diseases, including MERS-CoV and antibiotic resistant bacteria Mycoplasma hominis, a first in human trial.
“This investment provides a significant boost to our capital strategy as we enter Phase 2 clinical trials and accelerate development of new commercial targets,” said Dr. Eddie Sullivan, President & CEO of SAB Biotherapeutics.
SAB’s unique immunotherapy platform is the only one in the world to produce human polyclonal antibodies—the natural way to fight disease—on a commercial scale without using humans. In addition, SAB therapies can be developed and produced in as few as 75 days. These two attributes contributed to the SAB platform being recognized by the World Health Organization as the only platform technology capable of responding to emerging infectious diseases with epidemic potential.
The latest targets for the company, oncology and Type 1 diabetes, both align well with Mr. Sanford’s healthcare focus, as well as significant and current clinical research programs within Sanford Health.
The investment complements Mr. Sanford’s philanthropic contributions to the healthcare sector, including the 2007 $400 million donation to Sioux Valley Hospitals and Health System, which changed its name in tribute. In total, Mr. Sanford has donated nearly $1 billion to the Sanford Health System, an organization which is also an investor in SAB.
Mr. Sanford is the owner of First PREMIER Bank and PREMIER Bankcard, headquartered in Sioux Falls, South Dakota. First PREMIER Bank has more than $1.8 billion in assets and is the nation’s 12th largest issuer of Mastercard credit cards. The SAB investment closed on August 17, 2018, made through a new entity, Sanford Therapeutics, LLC.
“We’re excited to have Mr. Sanford, a sophisticated investor and businessman, demonstrate his confidence in our novel technology, company and team,” said Dr. Edward Hamilton, executive chairman of the board and co-founder of SAB Biotherapeutics. “This investment will accelerate the advancement of the platform, capacity building, company growth and help to catalyze a vibrant biotech industry in South Dakota while we begin to realize the significant impact we can all bring to the global health community.”
Concurrent with the investment, a representative for Mr. Sanford will join SAB Biotherapeutics’ board of directors, yet to be determined.
SAB expects to enter two new Phase 1 and 2 trials during the next 18 months for severe hospitalized influenza and MERS-CoV respectively, while continuing to build the team and production capacity at the new pharm near Canton. Planning is also currently underway for a new corporate headquarters in the USD Discovery District.
About SAB Biotherapeutics, Inc.
SAB Biotherapeutics, Inc. (SAB) is a clinical-stage biopharmaceutical company leading the science and manufacturing of human antibody therapeutics. Utilizing some of the most advanced polyclonal antibody science, SAB is delivering the world’s first large-scale platform to create fully human immunoglobulins. This natural production platform holds the potential for treatment of public health problems, rare conditions, long-term diseases and global pandemic threats.
SAB Biotherapeutics, Inc.
Melissa Ullerich, 605-695-8350