July 17, 2020 12:18 PM Eastern Daylight Time
SIOUX FALLS, S.D.–(BUSINESS WIRE)–SAB Biotherapeutics (SAB), a clinical-stage biopharmaceutical company with a proprietary technology to produce fully human polyclonal antibodies without the need for human plasma donors, today announced it has closed its Series B funding round at $14 million. New investor, global healthcare leader Merck, known as MSD outside the United States and Canada, was joined by South Dakota Equity Partners and several other follow-on and private investors.
“The onset of the current pandemic precipitated a mobilization to rapidly address COVID-19 and a focus on providing a therapeutic solution to this crisis,” said Edward Hamilton, DVM co-founder and Executive Chairman of the Board of Directors for SAB Biotherapeutics. “Our successful track record in emerging infectious disease and rapid response contract with the United States Government has garnered significant additional support and we are working in concert with our partners to deliver a potential new class of therapy as quickly as possible.”
Since March of 2020, SAB has announced $36.4 million in funding awarded for its rapid response program and the development of an anti-SARS-CoV-2 fully human polyclonal antibody therapeutic, SAB-185, poised to begin clinical trials this month.
“It’s the continued confidence of our existing investors and the follow-on investments in the platform technology that has bolstered our ability to deliver a differentiated solution that is able to respond to this pandemic,” added Hamilton. “We’re delighted to have Merck, an innovative global healthcare leader, and one of the top 10 R&D investors worldwide, join our group of investors as we look to apply this innovative immunotherapy platform across several therapeutic categories including infectious disease, autoimmune, inflammation and oncology.”
With this Series B, the company has raised approximately $50 million in equity and secured more than $100 million in non-dilutive funding in the form of grants and contracts, since its founding.
About SAB Biotherapeutics, Inc.
SAB Biotherapeutics, Inc. (SAB) is a clinical-stage, biopharmaceutical company advancing a new class of immunotherapies leveraging fully human polyclonal antibodies. Utilizing some of the most complex genetic engineering and antibody science in the world, SAB has developed the only platform that can rapidly produce natural, specifically-targeted, high-potency, human polyclonal immunotherapies at commercial scale. SAB-185, a fully-human polyclonal antibody therapeutic candidate for COVID-19, is being developed with initial funding up to $9.4 million supported by the Biomedical Advanced Research Development Authority (BARDA), 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. For more information visit: www.sab.bio or follow @SABBantibody on Twitter.