Denny Sanford invests additional $10M in SAB Biotherapeutics
Aug. 28, 2018
SAB Biotherapeutics Inc., a Sioux Falls-based clinical stage biopharmaceutical development company, has received a $10 million investment from T. Denny Sanford.
The businessman and philanthropist previously invested in SAB in 2014.
“SAB Biotherapeutics has made great strides in a relatively short time frame,” Sanford said. “They have reached key milestones, collaborated with prominent partners, developed a robust product pipeline and are working on near-term solutions to health conditions like cancer and Type 1 diabetes.”
Since its founding in 2014, SAB Biotherapeutics has developed immunotherapies against more than a dozen targets, achieved 100 percent efficacy in pre-clinical testing and completed Phase 1 trials for treatments for emerging infectious diseases, including MERS-CoV, according to a news release from the company.
“This investment provides a significant boost to our capital strategy as we enter Phase 2 clinical trials and accelerate development of new commercial targets,” said Eddie Sullivan, president and CEO.
According to the company, its unique immunotherapy platform is the only one in the world to produce human polyclonal antibodies — the natural way to fight disease — on a commercial scale without using humans. In addition, SAB therapies can be developed and produced in as few as 75 days. These two attributes contributed to the SAB platform being recognized by the World Health Organization as the only platform technology capable of responding to emerging infectious diseases with epidemic potential.
The latest targets for the company, oncology and Type 1 diabetes, both align well with Sanford’s health care focus, as well as significant and current clinical research programs within Sanford Health.
In total, Sanford has donated $1 billion to Sanford Health, which is also an investor in SAB.
“We’re excited to have Mr. Sanford, a sophisticated investor and businessman, demonstrate his confidence in our novel technology, company and team,” said Edward Hamilton, executive chairman of the board and co-founder of SAB Biotherapeutics. “This investment will accelerate the advancement of the platform, capacity building, company growth and help to catalyze a vibrant biotech industry in South Dakota while we begin to realize the significant impact we can all bring to the global health community.”
With the investment, a representative for Sanford will join SAB Biotherapeutics’ board of directors.
SAB expects to enter two new trials during the next 18 months for severe hospitalized influenza and MERS-CoV, while continuing to build the team and production capacity at the new pharm near Canton. Planning is also underway for a new corporate headquarters in the USD Discovery District.