SAB BIO Announces Oversubscribed $175 Million Private Placement
Participation from strategic investor Sanofi, along with new investors RA Capital Management, Commodore Capital, Vivo Capital, Blackstone Multi-Asset Investing, Spruce Street Capital, Forge Life Science Partners and Woodline Partners LP, and existing investors Sessa Capital, the T1D Fund, and ATW Partners
Proceeds expected to fully fund completion of pivotal Phase 2b SAFEGUARD study evaluating SAB-142 for delaying progression of autoimmune T1D in newly diagnosed T1D patients (Stage 3)
Company expects proceeds to extend cash runway into the middle of 2028
Potential for up to an additional $284 million of gross proceeds if milestone-based warrants exercised in full
MIAMI, July 21, 2025 (GLOBE NEWSWIRE) -- SAB BIO (Nasdaq: SABS), ("SAB BIO" or the "Company"), a clinical-stage biopharmaceutical company with a novel immunotherapy platform that is developing human anti-thymocyte immunoglobulin (hIgG) for delaying progression of autoimmune type 1 diabetes (T1D) in newly diagnosed autoimmune T1D patients, today announced that it has entered into a securities purchase agreement (the "Agreement") with certain accredited and institutional investors to raise $175 million upfront in gross proceeds in an oversubscribed private placement financing.
The private placement includes participation from strategic investor Sanofi, along with new investors RA Capital Management, Commodore Capital, Vivo Capital, Blackstone Multi-Asset Investing, Spruce Street Capital, Forge Life Science Partners and Woodline Partners LP, and existing investors Sessa Capital, the T1D Fund, and ATW Partners.
Pursuant to the terms of the Agreement, SAB BIO will issue an aggregate of up to 1,000,000 shares of the Company's Series B nonvoting convertible preferred stock, which are convertible into up to an aggregate of 100,000,000 shares of the Company's common stock at a conversion price of $1.75 per share. In addition, the Company will issue warrants to purchase up to an aggregate of 1,500,000 shares of the Company's Series B preferred stock, for up to an additional $284 million in gross proceeds if exercised in full. The private placement is expected to close on or about July 22, 2025, subject to customary closing conditions. Further information regarding the private placement can be found in the Company's filings with the ...
