SAB Biotherapeutics closes a $14 million Series B financing round
FREMONT, CA: A Sioux Falls, SD-based clinical-stage biopharmaceutical company, SAB Biotherapeutics successfully closed a $14 million Series B financing round. The company, equipped with the proprietary technology to develop some fully polyclonal antibodies without having the need for a human plasma donor, is also advancing to a new class of immunotherapies.
The round saw the participation of a new investor, a global healthcare leader Merck, also known as MSD outside the United States and Canada, who was accompanied by the South Dakota Equity Partners and several other follow-ons along with some private investors. The biopharmaceutical company, with the new Series B Round funding, has raised in total an amount approximately around $50 million in equity and has secured from than $100 million in non-dilutive funding in various forms such as grants and contracts, since its inception.
SAB Biotherapeutics company is a clinical-stage, biopharmaceutical company advancing a new class of immunotherapies leveraging fully human polyclonal antibodies. The technique utilizes the complex genetic engineering and antibody science, and the platform that is developed by the company itself, to perform a rapidly producing natural, specifically-targeted, high-potency, human polyclonal immunotherapies at commercial scale.
SAB-185, a fully-human polyclonal antibody therapeutic candidate for COVID-19, is currently being developed with initial funding collected up to $9.4m supported by the Biomedical Advanced Research Development Authority (BARDA), a part of the Assistant Secretary for Preparedness and Response (ASPR) at the U.S. Department of Health and Human Services through an existing $27 Million Rapid Response contract with the Department of Defense (DoD) Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense (JPEO – CBRND) Joint Project Lead for Enabling Biotechnologies (JPL-EB).
In addition to COVID-19, the company’s pipeline also includes programs in Type 1 diabetes, organ transplant, and influenza.