SAB Biotherapeutics CFO Departs

MIAMI, May 30, 2024 – SAB Biotherapeutics, Inc. (Nasdaq: SABS), a clinical-stage biopharmaceutical company focused on innovative immunotherapy, announced today that Chief Financial Officer Michael King will be leaving his position on June 4 to become CEO of a privately-held oncology firm. However, King will continue to serve as an advisor to SAB through the remainder of the year.

The Board of Directors at SAB has initiated a formal search for a permanent CFO to replace King. During this interim period, Mark Conley, the current Vice President of Finance with 38 years of experience in biotech finance and accounting, will assume the role of Interim CFO to ensure continued support for the company.

Chairman and CEO Samuel J. Reich expressed his appreciation for King’s contributions, stating, "Mike has been an exceptional partner in our growth journey. We wish him the best in his new role." Reich also conveyed optimism about SAB’s future as the company continues to advance its clinical programs for developing a pioneering therapy for type 1 diabetes (T1D).

Michael King commented on his departure, expressing gratitude towards SAB’s board and employees for the collaborative experience. He stated, "I hold SAB’s mission in high regard and look forward to contributing as an advisor as SAB-142 progresses."

Looking ahead, SAB reaffirmed its fiscal year 2024 outlook, which was previously detailed in the May 20, 2024, first-quarter earnings release. The company also confirmed upcoming milestones, including the anticipated topline data readout from the Phase 1 study of its lead candidate, SAB-142.

SAB Biotherapeutics specializes in developing human, multi-targeted, high-potency immunoglobulins (IgGs) without the need for human donors or convalescent plasma. Their lead asset, SAB-142, aims to modify the treatment of T1D by delaying onset and potentially preventing disease progression. SAB employs advanced genetic engineering and antibody science, utilizing Transchromosomic (Tc) Bovine™, a unique transgenic animal with a human artificial chromosome. This enables their DiversitAb™ system to produce a wide array of targeted, high-potency human IgGs for various unmet medical needs.

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