SAB Biotherapeutics announces private placement of up to $130M

SAB Biotherapeutics announced the Company has entered into a securities purchase agreement with certain accredited investors, pursuant to which the Company agreed to issue and sell shares of preferred stock in a private placement. The Offering will provide up to $130 million in gross proceeds to SAB, which will be used to fund the company’s lead research program, SAB-142, a potential disease-modifying treatment for T1D. The full proceeds, when funded, are expected to fund the company through 2026 and topline Phase II results. The transaction is being led by RA Capital Management, with participation from BVF Partners, Sessa Capital, Commodore Capital, RTW Investments, Marshall Wace, and the JDRF T1D Fund.