SAB BIO Raises $175M In Oversubscribed Private Placement To Fully Fund Phase 2b SAFEGUARD Trial For Autoimmune Type 1 Diabetes
Benzinga Newsdesk 1 year ago
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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
- 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