By Karen E. Roman
SAB Biotherapeutics, Inc. (Nasdaq: SABS), a clinical-stage biopharmaceutical company, recently announced it will issue and sell shares of preferred stock in a private placement.
The transaction will provide up to $130 million to SAB and will be used to fund the company’s lead research program, SAB-142, a disease-modifying treatment for type 1 diabetes (T1D), it said.
The T1D treatment is expected to begin clinical trials in Q4 2023, and it offers a fully-human alternative in comparison to rabbit anti-thymocyte globulin (rATG), the company said.
“We’re pleased to have the support of this world-class syndicate of investors in the field of type 1 diabetes,” co-founder, President, and CEO of SAB, Eddie Sullivan said. “Our mission is to help shift the T1D treatment paradigm from daily maintenance with devices and exogenous insulin to a disease-modifying approach,” Dr. Sullivan said.