By Exec Edge Editorial Staff
Immunotherapy-focused SAB Biotherapeutics, Inc. (Nasdaq: SABS) announced today that the company has received an additional $8.2 million from the U.S. Department of Defense (DoD) related to the closeout of the discontinued COVID-19 prototype research and development contract.
The total settlement value has now reached $16.8 million received since November 2022 and SAB Biotherapeutics now expects cash will be sufficient to fund its operating expenses and capital expenditure requirements through 2023.
“Our work with the DoD has clinically validated our unique approach and accelerated SAB’s novel polyclonal antibody platform to Phase 3 stage of development,” said Eddie Sullivan, co-founder, President, and Chief Executive Officer of SAB Biotherapeutics. “We are moving full speed ahead with our Influenza, C. diff. and Type I Diabetes programs and look forward to bringing much needed treatment solutions to patients.”
SAB Biotherapeutics has a platform that produces natural immunotherapies without the need for human donors.