SAB Biotherapeutics Debuts as Publicly Traded Next-Generation Immunotherapy Company
25 Octubre 2021 - 6:39AM
SAB Biotherapeutics (Nasdaq: SABS), (SAB), a clinical-stage
biopharmaceutical company with a novel immunotherapy platform that
produces specifically targeted, high-potency, fully-human
polyclonal antibodies without the need for human donors, today
announced the completion of its business combination with Big
Cypress Acquisition Corp. (Nasdaq: BCYP) (“Big Cypress”), a
publicly-traded special purpose acquisition company (SPAC) focused
on innovative biopharmaceutical firms. The common stock and
warrants of the resulting combined company, SAB Biotherapeutics
Inc. will commence trading on the Nasdaq Global Market (the
“NASDAQ”) under the ticker symbol “SABS” and “SABSW”, respectively,
on October 25, 2021.
The stockholders of Big Cypress approved the transaction at a
Special Meeting held on October 20, 2021. The transaction was
previously approved by SAB’s shareholders. SAB’s management team
will be led by Eddie Sullivan, Ph.D., Co-Founder, President, and
Chief Executive Officer, who previously served as President, and
Chief Executive Officer. Samuel J. Reich, formerly Chief Executive
Officer and Chief Financial Officer of Big Cypress, and Jeffrey G.
Spragens, Big Cypress’ Chairman of the Board of Directors, will
join the SAB Board of Directors, with Mr. Reich assuming the role
of Executive Chairman.
“We are excited to enter the public markets at such a pivotal
time when next-generation immunotherapies like ours are essential
in driving improvement in the global health landscape. We extend
our gratitude to the Big Cypress team for being our partner in
driving our vision of developing scalable and highly potent
polyclonal antibody therapies,” said Dr. Eddie Sullivan. “We would
also like to thank the SAB team, as well as our new and existing
shareholders, who are making our important work possible. The SAB
team is committed to progressing our science and expanding the
reach of our unique DiversitAb™ platform, now as a public
company.”
Dr. Sullivan added, “We look forward to reporting clinical data
from a number of our programs in the coming months. SAB expects to
announce topline clinical data for our seasonal influenza program
before the end of the year, and we expect to report clinical data
from our NIH-sponsored COVID-19 clinical trials as soon as it
becomes available. “
“SAB’s innovative and versatile DiversitAb™ platform and
talented team bring a unique approach to the development of
immunotherapies, which is why we chose them as our merger partner,”
said Samuel Reich. “Our experienced biopharmaceutical team was
initially impressed by the ability of SAB’s platform to produce
high-potency fully-human polyclonal antibodies with the potential
to address a variety of serious diseases with high unmet medical
need. In the few months since we announced our intention to merge,
SAB has achieved multiple significant milestones, reinforcing our
confidence in their ability to execute and deliver on the promise
of their technology. I’m delighted to be joining the SAB team to
advance the company’s clinical programs and business strategy, with
the goal of building a differentiated biopharmaceutical company
committed to creating shareholder value and having a significant
positive impact on human health.”
Summary of TransactionOn June 22, 2021, SAB
entered into a definitive business combination agreement with Big
Cypress Acquisition Corp., a blank check company focused on
innovative biopharmaceutical firms, which was created for the
purpose of entering into a business combination with a selected
biopharmaceutical company and bringing the combined entity to the
NASDAQ.
The gross proceeds from the transaction after redemptions and
before deducting transaction fees are approximately $30 million.
SAB intends to use the proceeds from the transaction to progress
its pipeline programs and to augment its recent $60.5 million award
from the government, in addition to approximately $27 million
remaining from previous awards.
Recent Developments Demonstrate Momentum Across Key
Initiatives
- Hosted R&D Day with KOL advisors
highlighting the clinical potential of SAB’s
DiversitAb™ platform in infectious disease and immune system
disorders
- Enrolled first patient in
NIH-sponsored Phase 3 adaptive clinical trial assessing SAB-185 for
the treatment of mild-moderate COVID-19
- Independent Data Safety Monitoring
Board graduated SAB-185 from the Phase 2 to the Phase 3 segment of
NIH-sponsored adaptive COVID-19 clinical trial, based on its
initial assessment of Phase 2 safety and efficacy
- SAB was awarded additional $60.5
million in US Department of Defense and BARDA funding to advance
its Rapid Response capabilities and COVID-19 program
- A Phase 2a challenge study of
SAB-176 for the treatment of seasonal influenza initiated and
recently completed patient enrollment. SAB-176 is in development
for the prevention and treatment of seasonal and pandemic
influenza.
- Nonclinical data demonstrated
SAB-185 neutralized COVID-19 variants of concern, including Delta,
in FDA findings from research published in bioRxiv
AdvisorsLazard served as exclusive financial
advisor to SAB. Stradling Yocca Carlson & Rauth is serving as
legal counsel to SAB. Chardan served as exclusive M&A advisor
and financial advisor to Big Cypress and Dentons US LLP is serving
as legal counsel. Ladenburg Thalmann & Co. Inc. is acting as a
capital markets advisor to Big Cypress.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. SAB
has applied advanced genetic engineering and antibody science to
develop transchromosomic (Tc) Bovine™ that produce fully-human
antibodies targeted at specific diseases, including infectious
diseases such as COVID-19 and influenza, immune system disorders
including type 1 diabetes and organ transplantation, and cancer.
SAB’s versatile DiversitAb™ platform is applicable to a wide range
of serious unmet needs in human diseases. It produces natural,
specifically targeted, high-potency, human polyclonal
immunotherapies. SAB is currently advancing multiple clinical
programs and has collaborations with the US government and global
pharmaceutical companies. For more information on SAB, visit:
https://www.sabbiotherapeutics.com and follow @SABBantibody on
Twitter.
Contact:Melissa Ullerich+1
605-679-4609mullerich@sabbiotherapeutics.com
Courtney Turiano (investors)Stern
IR212-698-8687Courtney.Turiano@sternir.com
Forward-Looking Statements Certain statements
made herein that are not historical facts are forward-looking
statements for purposes of the safe harbor provisions under The
Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally are accompanied by words such as “believe,”
“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,”
“expect,” “should,” “would,” “plan,” “predict,” “potential,”
“seem,” “seek,” “future,” “outlook” and similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements regarding future
events. These statements are based on the current expectations of
SAB and are not predictions of actual performance. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on,
by any investor as a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict, will differ
from assumption and are beyond the control of SAB.
Big Cypress Acquisition (NASDAQ:BCYP)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Big Cypress Acquisition (NASDAQ:BCYP)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024