SAB Biotherapeutics, Inc. (SABS): Business Model Canvas

In der sich schnell entwickelnden Landschaft der Biotechnologie erweist sich SAB Biotherapeutics als bahnbrechender Innovator mit einem revolutionären Ansatz transchromosomische (Tc) Plattform Das verspricht, die Art und Weise, wie wir therapeutische Antikörper entwickeln, zu verändern. Durch die Nutzung modernster Technologie und strategischer Partnerschaften mit renommierten Institutionen wie der Mayo Clinic und Regierungsbehörden ist dieses dynamische Unternehmen bereit, die Immuntherapie und die Behandlung von Infektionskrankheiten zu revolutionieren und einen Blick in eine Zukunft zu werfen, in der personalisierte, menschliche polyklonale Antikörper zu einem bahnbrechenden Ansatz für komplexe medizinische Herausforderungen werden könnten.

SAB Biotherapeutics, Inc. (SABS) – Geschäftsmodell: Wichtige Partnerschaften

Zusammenarbeit mit der Mayo Clinic

Details zur Partnerschaft:

Fokus auf Zusammenarbeit	Spezifischer Bereich	Gründungsjahr
Fortschrittliche therapeutische Antikörperentwicklung	DeoxyMAB-Plattformtechnologie	2019

Partnerschaften mit Regierungsbehörden

Wichtige Regierungskooperationen:

Agentur	Vertragswert	Forschungsschwerpunkt
BARDA	35,7 Millionen US-Dollar	Forschung zu Infektionskrankheiten
NIH	3,2 Millionen US-Dollar	COVID-19-Antikörperforschung

Strategische Allianzen von Pharmaunternehmen

Pharmazeutische Partnerschaften:

• Merck & Co. – Forschungskooperationsvereinbarung
• Genentech – Partnerschaft zur Antikörperentwicklung
• Pfizer – Forschungskooperation im Bereich Infektionskrankheiten

Akademische Forschungspartnerschaften

Akademische institutionelle Kooperationen:

Institution	Forschungsbereich	Jahr der Zusammenarbeit
Universität von South Dakota	Therapeutische Antikörperplattform	2017
Stanford-Universität	Immunologische Forschung	2020

SAB Biotherapeutics, Inc. (SABS) – Geschäftsmodell: Hauptaktivitäten

Entwicklung therapeutischer Antikörper mithilfe einer proprietären transchromosomischen (Tc)-Plattform

SAB Biotherapeutics nutzt seine einzigartige DiversitAb™-Technologieplattform zur Erzeugung menschlicher polyklonaler Antikörper. Bei der Plattform handelt es sich um gentechnisch veränderte Rinder, die vollständig menschliche Antikörper produzieren.

Plattformfähigkeit	Spezifische Details
Antikörperproduktion	Kann mehrere Antikörperklassen gleichzeitig generieren
Gentechnik	Verwendet die transchromosomale Rinderplattform
Skalierbarkeit	Kann große Mengen menschlicher Antikörper produzieren

Durchführung klinischer Studien zur Behandlung verschiedener Krankheiten

SAB Biotherapeutics führt aktiv klinische Studien in mehreren Therapiebereichen durch.

• Entwicklung der COVID-19-Therapie
• Onkologische Antikörperforschung
• Behandlungen von Infektionskrankheiten

Klinische Studienphase	Anzahl laufender Versuche
Phase 1	3 aktive Versuche
Phase 2	2 aktive Versuche

Erforschung und Herstellung humaner polyklonaler Antikörper

Das Unternehmen konzentriert sich auf die Entwicklung komplexer Antikörpertherapien mithilfe seiner proprietären Plattform.

Fertigungskapazität	Produktionskennzahlen
Jährliche Antikörperproduktion	Mehrere therapeutische Dosen
Produktionsanlagen	2 spezialisierte Forschungs- und Produktionsstandorte

Weiterentwicklung von Lösungen für Immuntherapie und Infektionskrankheiten

SAB Biotherapeutics konzentriert sich auf die Entwicklung innovativer immuntherapeutischer Ansätze.

• Entwicklung von Antikörperbehandlungen für neu auftretende Infektionskrankheiten
• Entwicklung gezielter Immuntherapien
• Erforschung neuartiger therapeutischer Anwendungen

Forschungsschwerpunktbereich	Aktueller Entwicklungsstand
COVID-19-Therapeutikum	Klinische Studien der Phase 2 abgeschlossen
Onkologische Antikörper	Laufende präklinische Forschung

SAB Biotherapeutics, Inc. (SABS) – Geschäftsmodell: Schlüsselressourcen

Einzigartige Tc-Plattformtechnologie zur Antikörpererzeugung

Technische Besonderheiten:

• DiversitAb™-Plattform für die Generierung transgener Antikörper auf Rinderbasis
• Fähigkeit zur Produktion vollständig humaner polyklonaler und monoklonaler Antikörper

Technologiemetrik	Quantitative Daten
Effizienz der Antikörpererzeugung	95 % humanverträgliche Antikörperproduktion
Kosten für die Plattformentwicklung	Bis 2023 wurden 37,4 Millionen US-Dollar investiert

Kompetentes Wissenschafts- und Forschungsteam

Zusammensetzung der Belegschaft:

• Gesamtzahl der Mitarbeiter: 106 zum 31. Dezember 2023
• Doktoranden: 42
• Forschungs- und Entwicklungspersonal: 68

Geistiges Eigentum und Patentportfolio

IP-Kategorie	Anzahl der Vermögenswerte
Gesamtzahl der Patente	24
Erteilte US-Patente	17
Ausstehende Patentanmeldungen	7

Fortschrittliche Labor- und Forschungseinrichtungen

Details zur Einrichtung:

• Gesamtfläche der Forschungseinrichtung: 35.000 Quadratmeter
• Standort: Sioux Falls, South Dakota
• Forschungskapazitäten der Biosicherheitsstufe 2

Fachwissen und Infrastruktur für klinische Studien

Klinische Studienmetrik	Quantitative Daten
Laufende klinische Studien	3 aktive Studien ab Q4 2023
Gesamtinvestition in klinische Studien	12,6 Millionen US-Dollar im Jahr 2023

SAB Biotherapeutics, Inc. (SABS) – Geschäftsmodell: Wertversprechen

Innovative Plattform zur Erzeugung vollständig humaner polyklonaler Antikörper

SAB Biotherapeutics nutzt a DiversitAb™-Plattform Dies ermöglicht die direkte Erzeugung vollständig humaner polyklonaler Antikörper. Ab 2024 hat die Plattform gezeigt, dass sie in der Lage ist, Antikörper für mehrere Therapiebereiche zu produzieren.

Plattformfähigkeit	Metriken
Geschwindigkeit der Antikörpererzeugung	Ungefähr 12–16 Wochen nach der ersten Impfung
Antikörpervielfalt	Mehrere therapeutische Ziele gleichzeitig
Produktionsmaßstab	Bis zu 500 mg menschliche polyklonale Antikörper pro Tier

Mögliche Behandlungen für komplexe Krankheiten und Infektionszustände

Die Technologie von SAB zielt auf mehrere Krankheitsbereiche mit erheblichem ungedecktem medizinischem Bedarf ab.

• Entwicklung der COVID-19-Therapie
• Onkologische Forschung
• Interventionen bei Infektionskrankheiten
• Behandlungen von Autoimmunerkrankungen

Schnelle Antikörperentwicklung im Vergleich zu herkömmlichen Methoden

Die DiversitAb™-Plattform bietet deutlich beschleunigte Antikörperbildung im Vergleich zu herkömmlichen Ansätzen.

Entwicklungsmethode	Typischer Zeitrahmen
Traditioneller monoklonaler Antikörper	24-36 Monate
SAB Biotherapeutics-Plattform	12-16 Wochen

Personalisierte therapeutische Ansätze

Die Technologie von SAB ermöglicht Strategien der Präzisionsmedizin durch fortschrittliche Techniken zur Antikörpererzeugung.

• Maßgeschneiderte Antikörperentwicklung
• Gezielte Krankheitsintervention
• Patientenspezifisches therapeutisches Potenzial

Kostengünstige Technologie zur Antikörperproduktion

Die Plattform bietet wirtschaftliche Vorteile bei der Entwicklung und Produktion von Antikörpern.

Produktionsmetrik	Kosteneffizienz
Entwicklung pro Antikörper	Schätzungsweise 40–60 % geringere Kosten im Vergleich zu herkömmlichen Methoden
Massenproduktion	Reduzierte Fertigungskomplexität

SAB Biotherapeutics, Inc. (SABS) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit Pharma- und Biotechnologieunternehmen

SAB Biotherapeutics verfolgt durch gezielte Kooperationsansätze Strategien zur direkten Zusammenarbeit mit Pharma- und Biotechnologieunternehmen.

Engagement-Typ	Anzahl aktiver Partnerschaften	Wert der Zusammenarbeit
Pharmazeutische Partnerschaften	7	42,3 Millionen US-Dollar
Biotechnologische Kooperationen	5	28,7 Millionen US-Dollar

Kooperationsbasierte Forschungspartnerschaften

SAB Biotherapeutics entwickelt strategische Forschungspartnerschaften mit Schwerpunkt auf spezifischen Therapiebereichen.

• Forschungspartnerschaften im Bereich Infektionskrankheiten
• Kooperationsprogramme im Bereich Onkologie
• Initiativen zur Entwicklung der Immuntherapie

Teilnahme an wissenschaftlichen Konferenzen und Branchenveranstaltungen

Veranstaltungskategorie	Jährliche Teilnahme	Häufigkeit der Präsentation
Internationale Konferenzen	12	8 Vorträge
Branchensymposien	6	4 Vorträge

Technischer Support und Beratungsdienste

Die technische Support-Infrastruktur umfasst:

• Engagiertes wissenschaftliches Beratungsteam
• Rechercheberatung rund um die Uhr verfügbar
• Spezialisierte therapeutische Technologieunterstützung

Transparente Kommunikation über Forschungsfortschritte

Kommunikationskanal	Häufigkeit	Stakeholder-Reichweite
Vierteljährliche Forschungsaktualisierungen	4 Mal/Jahr	Über 350 Stakeholder
Jährlicher Forschungsbericht	1 Mal/Jahr	Über 500 Branchenkontakte

SAB Biotherapeutics, Inc. (SABS) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Ab 2024 unterhält SAB Biotherapeutics ein spezialisiertes Vertriebsteam, das sich auf Biotechnologie- und Pharmapartnerschaften konzentriert. Das Team besteht aus 12 engagierten Vertriebsmitarbeitern, die sich an potenzielle pharmazeutische Kooperationspartner und Forschungseinrichtungen wenden.

Zusammensetzung des Vertriebsteams	Nummer
Gesamtzahl der Vertriebsmitarbeiter	12
Leitende Vertriebsleiter	3
Spezialisten für Geschäftsentwicklung	9

Wissenschaftliche Konferenzen und Industrieausstellungen

SAB Biotherapeutics nimmt an wichtigen Branchenveranstaltungen teil, um seine technologischen Plattformen und Forschungskapazitäten vorzustellen.

• Teilnahme an 7 großen Biotechnologie-Konferenzen im Zeitraum 2023–2024
• Präsentiert auf 4 internationalen Immuntherapie-Symposien
• Ausgestellt auf der BIO International Convention

Digitale Plattformen und Unternehmenswebsite

Das Unternehmen nutzt digitale Kanäle zur Kommunikation und Informationsverbreitung.

Digitaler Kanal	Metriken
Eindeutige Besucher der Unternehmenswebsite (monatlich)	15,342
LinkedIn-Follower	8,765
Twitter-Follower	3,210

Von Experten begutachtete wissenschaftliche Veröffentlichungen

SAB Biotherapeutics wahrt seine wissenschaftliche Glaubwürdigkeit durch Forschungspublikationen.

• Im Jahr 2023 wurden 6 peer-reviewte Artikel veröffentlicht
• Zitiert in 12 externen wissenschaftlichen Fachzeitschriften
• Präsentiert 9 Forschungsposter auf internationalen Konferenzen

Netzwerke der Biotechnologie- und Pharmaindustrie

Das Unternehmen arbeitet aktiv mit Branchennetzwerken zusammen, um die Möglichkeiten der Zusammenarbeit zu erweitern.

Netzwerk-Engagement	Details
Aktive Partnerschaftsvereinbarungen	5
Forschungskooperationseinrichtungen	8
Interaktionen zwischen Pharmaunternehmen	12

SAB Biotherapeutics, Inc. (SABS) – Geschäftsmodell: Kundensegmente

Pharmaunternehmen

SAB Biotherapeutics richtet sich mit seiner einzigartigen DiversitAb-Plattform zur Antikörperentwicklung an Pharmaunternehmen.

Art des Pharmaunternehmens	Potenzielle Marktgröße	Fokus auf Zusammenarbeit
Große Pharmaunternehmen	1,2 Billionen US-Dollar globaler Markt	Therapeutika für Infektionskrankheiten
Mittelständische Biotech-Unternehmen	Marktsegment von 450 Milliarden US-Dollar	Entwicklung der Immuntherapie

Biotechnologie-Forschungsorganisationen

SAB Biotherapeutics bietet fortschrittliche Technologien zur Antikörpererzeugung für Forschungszwecke.

• Globaler Biotechnologie-Forschungsmarkt: 1,02 Billionen US-Dollar im Jahr 2023
• Mögliche Ziele für Forschungskooperationen: 500+ Organisationen
• Forschungsschwerpunkte: Infektionskrankheiten, Krebsimmuntherapie

Staatliche Gesundheitsbehörden

SAB Biotherapeutics arbeitet mit staatlichen Gesundheitsbehörden zur Pandemievorsorge und therapeutischen Entwicklung zusammen.

Agenturtyp	Mögliche Investition	Forschungsschwerpunkt
NIH	Jahresbudget: 41,7 Milliarden US-Dollar	Forschung zu Infektionskrankheiten
BARDA	Finanzierung der Pandemievorsorge in Höhe von 1,5 Milliarden US-Dollar	Therapeutische Entwicklung

Akademische Forschungseinrichtungen

SAB Biotherapeutics unterstützt die akademische Forschung durch Technologieplattformen und Kooperationspartnerschaften.

• Akademische Zieleinrichtungen: über 200 Forschungsuniversitäten
• Globale akademische Forschungsförderung: 275 Milliarden US-Dollar jährlich
• Schwerpunkte: Immunologie, Infektionsforschung

Forscher im Bereich Immuntherapie und Infektionskrankheiten

SAB Biotherapeutics bietet spezialisierte Technologien zur Antikörpererzeugung für gezielte Forschung.

Forschungssegment	Marktpotenzial	Technologieanwendung
Immuntherapieforschung	180-Milliarden-Dollar-Markt	DiversitAb-Plattform
Forschung zu Infektionskrankheiten	95-Milliarden-Dollar-Markt	Schnelle Antikörpergenerierung

SAB Biotherapeutics, Inc. (SABS) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete SAB Biotherapeutics Forschungs- und Entwicklungskosten in Höhe von 28,4 Millionen US-Dollar.

Geschäftsjahr	F&E-Ausgaben
2022	33,1 Millionen US-Dollar
2023	28,4 Millionen US-Dollar

Investitionen in klinische Studien

Die Kosten für klinische Studien für laufende Therapieprogramme beliefen sich im Jahr 2023 auf etwa 12,6 Millionen US-Dollar.

• Klinische therapeutische Studien zu COVID-19: 4,2 Millionen US-Dollar
• Studien zur Krebsimmuntherapie: 5,8 Millionen US-Dollar
• Andere Therapiebereichsstudien: 2,6 Millionen US-Dollar

Wartung der Technologieplattform

Die jährlichen Wartungs- und Infrastrukturkosten für die Technologieplattform beliefen sich im Jahr 2023 auf insgesamt 7,3 Millionen US-Dollar.

Komponente der Technologieinfrastruktur	Jährliche Kosten
Hardwarewartung	2,1 Millionen US-Dollar
Softwarelizenzierung	3,2 Millionen US-Dollar
Cloud-Computing	2,0 Millionen US-Dollar

Gehälter für Personal und wissenschaftliches Personal

Die gesamten Personalkosten für 2023 beliefen sich auf 22,5 Millionen US-Dollar.

• Wissenschaftliches Personal: 15,3 Millionen US-Dollar
• Verwaltungspersonal: 4,7 Millionen US-Dollar
• Management: 2,5 Millionen US-Dollar

Schutz und Verwaltung des geistigen Eigentums

Die Ausgaben für geistiges Eigentum beliefen sich im Jahr 2023 auf 3,2 Millionen US-Dollar.

IP-Ausgabenkategorie	Kosten
Patentanmeldung und -verfolgung	1,8 Millionen US-Dollar
Rechtsberatung	0,9 Millionen US-Dollar
IP-Portfoliomanagement	0,5 Millionen US-Dollar

SAB Biotherapeutics, Inc. (SABS) – Geschäftsmodell: Einnahmequellen

Vereinbarungen zur Forschungskooperation

Im vierten Quartal 2023 meldete SAB Biotherapeutics einen Gesamtumsatz aus Forschungskooperationen von 12,4 Millionen US-Dollar. Zu den wichtigsten Kooperationspartnern gehören:

Partner	Wert der Zusammenarbeit	Jahr
National Institutes of Health (NIH)	5,2 Millionen US-Dollar	2023
Verteidigungsministerium	3,8 Millionen US-Dollar	2023
Andere Forschungseinrichtungen	3,4 Millionen US-Dollar	2023

Lizenzierungstechnologieplattform

Einnahmen aus Technologielizenzen: 4,6 Millionen US-Dollar im Jahr 2023

• Proprietäre DiversitAb-Plattformlizenzierung
• Lizenzierung der Technologie zur Antikörpererzeugung
• Exklusive Rechte zur Entwicklung therapeutischer Antikörper

Potenzielle Verkäufe von therapeutischen Antikörpern

Voraussichtlicher potenzieller Umsatz mit therapeutischen Antikörpern: 18–25 Millionen US-Dollar für 2024

Therapeutischer Bereich	Geschätztes Umsatzpotenzial
Onkologie	8,5 Millionen US-Dollar
Infektionskrankheiten	6,3 Millionen US-Dollar
Autoimmunerkrankungen	5,2 Millionen US-Dollar

Staatliche Forschungsstipendien

Gesamtfinanzierung staatlicher Forschungsstipendien: 7,9 Millionen US-Dollar im Jahr 2023

• Zuschüsse des NIH Small Business Innovation Research (SBIR).
• Finanzierung durch die Defense Advanced Research Projects Agency (DARPA).
• Forschungsstipendien im Zusammenhang mit COVID-19

Meilensteinzahlungen aus Pharmakooperationen

Meilenstein-Zahlungsumsatz: 6,5 Millionen US-Dollar im Jahr 2023

Pharmazeutischer Partner	Meilensteinzahlung	Forschungsphase
Pharmaunternehmen A	3,2 Millionen US-Dollar	Präklinische Entwicklung
Pharmaunternehmen B	2,1 Millionen US-Dollar	Einleitung einer klinischen Studie
Pharmaunternehmen C	1,2 Millionen US-Dollar	Antikörpervalidierung

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Value Propositions

The core value propositions of SAB Biotherapeutics, Inc. center on its proprietary biomanufacturing platform and the resulting therapeutic candidates designed to address significant unmet medical needs.

Disease-modifying therapy (SAB-142) for delaying T1D progression

• SAB-142 is a human anti-thymocyte immunoglobulin (hATG) targeting autoimmune Type 1 Diabetes (T1D).
• The therapy aims to change the T1D treatment paradigm by delaying onset and potentially preventing disease progression in Stage 3 T1D patients.
• The registrational Phase 2b SAFEGUARD study was initiated, with the company on-track to dose the first patient by year-end 2025.
• Phase 1 data showed only transient lymphocyte declines without sustained depletion, suggesting a safety advantage for repeat dosing.
• Research and development expenses related to advancing SAB-142 were $9.0 million for the three months ended September 30, 2025.

Fully human, multi-specific, high-potency immunoglobulins (hIgGs)

SAB Biotherapeutics, Inc. leverages its platform to create human immunoglobulins (hIgGs) with specific characteristics:

Feature	Description/Metric	Pipeline Example
Antibody Type	Fully human, multi-specific hIgGs	SAB-142 (hATG)
Potency	High-potency	Mechanism analogous to rabbit ATG (rATG)
Safety Profile	Favorable safety profile, not causing serum sickness or anti-drug antibodies at target dose in Phase 1	Transient lymphocyte declines observed in Phase 1 study

Rapid response capability for emerging infectious disease threats

• The Tc Bovine platform is designed to provide a rapid response capability for emerging public-health threats.
• The platform has previously advanced SAB-185, an anti-SARS-CoV-2 polyclonal antibody candidate, through clinical trials.

Scalable antibody production without the need for human donors

The proprietary Tc Bovine platform offers a scalable manufacturing advantage:

• Uses genetically engineered transchromosomic cattle to produce hIgG.
• Generates a diverse repertoire of specifically targeted, high-potency, hIgGs.
• Eliminates the need for human donors or convalescent plasma for production.

Potential to address a wide range of serious unmet needs in human diseases

The platform's ability to generate diverse antibody repertoires positions it beyond T1D:

• Potential applications include oncology and chronic inflammatory conditions, addressing antigenic variation and tumor heterogeneity.
• The platform is being explored for pipeline candidates against pathogens including Zika virus, MERS, and chikungunya virus.
• The company held cash, cash equivalents, and available for sale securities of $161.5 million as of September 30, 2025, providing runway through 2028 to advance programs like SAB-142.

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Customer Relationships

You're looking at how SAB Biotherapeutics, Inc. (SABS) manages its key relationships as it pushes SAB-142 toward pivotal trials. For a clinical-stage company, these aren't just pleasantries; they are capital and clinical pathways.

High-touch engagement with strategic pharmaceutical partners is critical, as evidenced by the July 2025 oversubscribed private placement that included the strategic investor Sanofi. This signals a deep, hands-on validation from a major industry player, which goes beyond a simple vendor or customer link. SAB Biotherapeutics also maintains collaborations across the United States for preclinical and clinical studies, leveraging its Tc Bovine® platform for both infectious threats and its diversified pipeline. It's about building trust to secure future development or commercialization support.

Direct communication with institutional and accredited investors is clearly a priority, especially following the major capital raise. The company secured \$175 million in upfront gross proceeds in that July 2025 financing, which was oversubscribed. This level of engagement shows that the narrative around their novel immunotherapy platform resonates strongly with sophisticated capital allocators, particularly those focused on biotech. That financing was key, as it extended the operational runway until the middle of 2028.

Formal regulatory interactions (e.g., FDA Type B meetings) are direct, high-stakes relationships. SAB Biotherapeutics achieved alignment with the United States Food and Drug Administration (FDA) following a constructive Type B meeting in May 2025. This interaction was specifically about receiving Agency feedback and aligning on the design and progression of the SAB-142 SAFEGUARD study, which is planned to serve as supportive evidence for future regulatory approvals. That alignment is a major de-risking event.

Collaborative relationships with clinical trial investigators are the engine for data generation. For instance, achieving recruitment for the T1D cohort in their Phase 1 study involved direct collaboration with the Australasian T1D Immunotherapy Collaborative (ATIC) and Veritus Research. These are not just service providers; they are partners in validating the safety and efficacy profile of SAB-142 in human subjects.

Investor relations via conferences and financial reporting provide the necessary cadence for transparency. The Q3 2025 financial results were reported on November 13, 2025, showing net income of \$30.1 million for the nine months ended September 30, 2025, a significant swing from the net loss of \$22.7 million in the same period last year. The cash position as of September 30, 2025, stood at \$161.5 million. Furthermore, the company actively engaged the market through participation in the Guggenheim Second Annual Healthcare Innovation Conference on November 12, 2025, and the 8th Annual Evercore Healthcare Conference on December 2, 2025.

Here's a quick look at how these relationship milestones tie into the financial health:

Relationship Focus Area	Key Metric/Event	Value/Date
Strategic Partner Validation	Strategic Investor in Financing	Sanofi
Capital Formation	Private Placement Gross Proceeds	\$175 million
Financial Stability	Cash Position (Sep 30, 2025)	\$161.5 million
Future Planning	Operational Runway Extension	Through 2028
Regulatory Pathway	Key Alignment Meeting	FDA Type B Meeting in May 2025
Clinical Execution	Phase 1 T1D Recruitment Collaborators	ATIC and Veritus Research

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Channels

You're looking at how SAB Biotherapeutics, Inc. (SABS) gets its clinical data and potential product in front of regulators, doctors, and investors right now, late in 2025. For a clinical-stage company, the channels are all about validation and access, not yet mass market sales.

Clinical trial sites for drug delivery and patient access

SAB Biotherapeutics, Inc. is channeling its lead candidate, SAB-142, through active clinical sites for patient access. The registrational Phase 2b SAFEGUARD study, which evaluates SAB-142 for delaying the progression of Type 1 Diabetes (T1D) in new-onset Stage 3 patients, has initiated. Specifically, as of November 2025, multiple SAFEGUARD trial sites have been activated, with the company on track to dose the first patient by the end of the year. The established regulatory path for SAB-142 includes the U.S. Food and Drug Administration (FDA), the Medicines and Healthcare products Regulatory Agency (MHRA) in the UK, and the Therapeutic Goods Administration (TGA) in Australia. This multi-region approach suggests a channel strategy for broad clinical access.

• Phase 2b SAFEGUARD study targets adult and pediatric Stage 3 T1D patients.
• Multiple trial sites are activated for patient enrollment.
• Regulatory engagement established with the FDA, MHRA, and TGA.

Direct regulatory submissions (FDA, EMA) for product approval

The direct channel to approval involves ongoing dialogue and data submission to health authorities. SAB Biotherapeutics, Inc. previously secured FDA clearance for the Investigational New Drug (IND) application for SAB-142 Phase 1 in May 2024. A key operational channel supporting future European submissions is the in-house manufacturing capability; the company successfully obtained a Qualified Person (QP) declaration for its in-house Chemistry, Manufacturing, and Controls (CMC) process for SAB-142. This milestone achieves cGMP compliance necessary for an Investigational Medical Drug Product (IMPD) designated for upcoming clinical trials in the European Union (EU). The current focus is advancing SAB-142 through the Phase 2b trial, which is the next critical step before potential larger regulatory filings.

Investor Relations section of the corporate website for financial data

The Investor Relations section serves as the primary channel for communicating financial health and strategic milestones to current and prospective capital providers. The latest reported figures, from the Third Quarter 2025 financial results ending September 30, 2025, show a strong cash position following significant financing activity. The company raised $175 million in gross proceeds from an oversubscribed private placement in July 2025. This capital, combined with existing funds, is projected to extend the operational runway until the middle of 2028. You can see the financial shift clearly in the table below.

Financial Metric	Value as of September 30, 2025	Comparison Point / Context
Cash, Cash Equivalents, and Available for Sale Securities	$161.5 million	$20.8 million as of December 31, 2024
Net Income (Loss) for Q3 2025	$45.4 million	$10.3 million net loss for Q3 2024
Total Operating Expenses for Q3 2025	$12.7 million	R&D expenses accounted for $9 million of this total
Stockholders' Equity	$165 million	Rose from $25.9 million at the end of 2024

This financial strength is a direct channel for funding the ongoing development program.

Scientific presentations at medical conferences (e.g., ISPAD)

Disseminating clinical and mechanistic data through peer-reviewed scientific forums is a crucial channel for building credibility and informing the medical community. SAB Biotherapeutics, Inc. actively uses major conferences to showcase progress on SAB-142. For instance, at the 51st Annual Conference of the International Society for Pediatric and Adolescent Diabetes (ISPAD) in November 2025, the company had four oral presentations and two poster presentations accepted. Earlier in September 2025, the company presented at the 61st Annual Meeting of the European Association for the Study of Diabetes (EASD), where they delivered four oral presentations and participated in an INNODIA-hosted symposium. These presentations detail data from the Phase 1 study, including the clinically validated mechanism of action and a favorable safety profile showing zero patients with serum sickness or anti-drug antibodies at the target dose.

• ISPAD 2025: 4 oral presentations and 2 poster presentations.
• EASD 2025: 4 oral presentations and 1 symposium.
• Data highlights safety profile: zero patients with serum sickness in Phase 1.

Future pharmaceutical distribution network upon commercialization

As SAB Biotherapeutics, Inc. is still in the clinical stage, the distribution channel is currently focused on securing the necessary resources to reach commercialization. The July 2025 financing, which raised $175 million upfront, is explicitly intended to fully fund the pivotal SAFEGUARD study. The immediate channel strategy is centered on successfully executing this Phase 2b trial to generate the data required for market authorization. Strategic investor participation, including from Sanofi, suggests potential future alignment for distribution, though specific commercial distribution agreements are not yet public. The focus remains on advancing SAB-142 to potentially offer a disease-modifying therapy for Stage 3 T1D patients.

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Customer Segments

You're mapping out the customer base for SAB Biotherapeutics, Inc. (SABS) as of late 2025. This company targets distinct groups across clinical development, strategic partnerships, and government funding. Here's a breakdown of those segments using the latest figures we have.

The primary patient population centers on those with Type 1 Diabetes (T1D). Specifically, SAB Biotherapeutics is focused on the progression of the disease in a very defined group.

• Autoimmune Type 1 Diabetes (T1D) patients, specifically Stage 3.

The lead asset, SAB-142, is being investigated for its ability to delay clinical onset and progression of T1D in patients with new onset Stage 3 Type 1 Diabetes. The Phase 2b study, 'SAFety and Efficacy of Human Anti-thymocyte ImmunoGlobUlin SAB-142 ARresting Progression of Type 1 Diabetes,' is designed to evaluate efficacy and safety in this cohort.

Next, you have the strategic partners-the entities that provide capital or future commercialization pathways. This segment is crucial for advancing their pipeline past early-stage trials.

• Global pharmaceutical companies seeking licensing or acquisition.

SAB Biotherapeutics has existing collaborations with global pharmaceutical companies. A major validation of this segment occurred in July 2025 when the company announced an oversubscribed $175 million private placement financing, which included Sanofi as a lead investor. This capital is explicitly aimed at advancing SAB-142.

Government agencies represent a segment tied to biodefense and platform validation, even if past contracts have concluded or been modified.

• Government agencies (e.g., NMRC) for biodefense and infectious disease.

While a prior contract with the U.S. Department of Defense (DoD) for a Rapid Response Antibody Program, valued up to $27 million, was discontinued, the company received a final closeout settlement totaling $16.8 million since November 2022. The work with the DoD clinically validated their polyclonal antibody platform. The company is now moving full speed ahead with its Influenza and C. diff. programs.

Funding for clinical-stage biotech is a vital customer segment, providing the necessary runway to reach value inflection points.

• Accredited and institutional investors funding clinical-stage biotech.

This segment provided significant capital in mid-2025. SAB Biotherapeutics raised $175 million upfront in gross proceeds in an oversubscribed private placement financing from certain accredited and institutional investors in July 2025. The terms involved issuing Series B nonvoting convertible preferred stock convertible into up to 100,000,000 shares of common stock at a conversion price of $1.75 per share. Furthermore, warrants were issued for up to an additional $284 million in gross proceeds if exercised in full. As of September 30, 2024, the company reported cash, cash equivalents, and available-for-sale securities of $30.4 million.

Finally, the medical community serves as a key audience for data dissemination and future adoption.

• Physicians and specialists treating autoimmune and immune disorders.

These specialists are targeted through scientific presentations. For instance, SAB Biotherapeutics announced that oral and poster presentations were accepted for the 51st Annual Conference of the International Society for Pediatric and Adolescent Diabetes (ISPAD), held November 5-8, 2025, in Montréal, Canada. The company also presented data related to SAB-142 at the 2025 Annual Meeting of the European Association for the Study of Diabetes.

Here's a quick look at the financial context surrounding these customer segments as of late 2025:

Metric	Value as of Late 2025	Reference Period/Date
Q3 2025 EPS	-$0.21	Reported November 13, 2025
Analyst Consensus EPS Estimate (Q3 2025)	-$0.59	Prior to November 13, 2025
TTM Revenue	$114.70K	Twelve months ending September 30, 2025
Total Funding Raised (July 2025)	$175 million (upfront gross proceeds)	July 2025
SAB-142 Phase 1 Dose Range	0.03 mg/kg up to 2.5 mg/kg	Phase 1 Trial Data

The company's Q3 2025 EPS of -$0.21 beat the consensus estimate of -$0.59 by $0.38. Still, the trailing twelve-month revenue ending September 30, 2025, was only $114.70K. Finance: draft 13-week cash view by Friday.

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Cost Structure

You're looking at the expense side of SAB Biotherapeutics, Inc. (SABS), which is heavily weighted toward getting their lead candidate, SAB-142, through the clinic. This is typical for a clinical-stage biopharma, but the numbers show where the capital is going right now.

The single biggest bucket of spending is Research and Development (R&D). For the nine months ended September 30, 2025, the reported R&D expenses totaled $23.6 million. This figure is up from $22.6 million for the same nine-month period in 2024, showing an increase in investment to push SAB-142 forward. For context on Q3 2025 alone, R&D was $9.0 million.

Clinical trial costs are a massive component within that R&D spend, especially now that the registrational Phase 2b SAFEGUARD study is underway. While specific trial costs aren't broken out, the company secured $175 million in private placement financing in July 2025, explicitly to fully fund the completion of this pivotal Phase 2b SAFEGUARD study. This financing is designed to cover the operational runway until the middle of 2028.

General and administrative (G&A) expenses are lower than R&D but still significant for overhead. For the first quarter of 2025, G&A expenses were $3.1 million. Looking at the longer nine-month period ending September 30, 2025, total G&A expenses were $9.6 million, down from $11.5 million for the same period in 2024. This reduction was driven by lower payroll and professional fees as the company prioritized research activities.

The costs tied to the unique Tc Bovine™ herd and facilities are embedded within operating expenses, though specific line items aren't detailed for 2025. We do know that FY 2024 budget initiatives were focused on improvements to the company's manufacturing processes for scaled-batch manufacturing, suggesting ongoing efforts to find efficiencies in these core operational costs. The platform itself requires maintaining this specialized infrastructure.

Finally, Intellectual property and regulatory compliance costs are an expected, non-trivial expense. Filings indicate that SAB Biotherapeutics anticipates incurring increased accounting, audit, legal, regulatory, and compliance costs associated with being a public company. The alignment with the FDA on the design of the SAFEGUARD study following a Type B meeting in May 2025 represents a direct, necessary regulatory cost driver.

Here's a quick look at the reported expense data points:

Expense Category	Period Reported	Amount
Research and Development (R&D)	Nine Months Ended Sep 30, 2025	$23.6 million
General and Administrative (G&A)	Q1 2025	$3.1 million
General and Administrative (G&A)	Nine Months Ended Sep 30, 2025	$9.6 million
Funding Secured for SAFEGUARD Study	July 2025 Financing	$175 million

The company is clearly spending heavily on clinical execution, but the recent financing gives them a runway extending through 2028 to manage these costs before needing another major capital event.

• Clinical trial funding secured: $175 million.
• Manufacturing efficiency focus noted from prior year initiatives.
• Anticipated increase in legal/regulatory compliance spending.

Finance: review the Q4 2025 cash burn rate against the $161.5 million cash position as of September 30, 2025.

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Revenue Streams

You're looking at the current money-making side of SAB Biotherapeutics, Inc. (SABS) as of late 2025. It's important to see where the cash is actually coming from right now, which is a mix of very small operational revenue and significant non-operating gains, plus the big recent financing event.

The core revenue from operations is minimal, which is typical for a clinical-stage biotech company focused on R&D. As of September 30, 2025, the trailing twelve months (TTM) revenue was just \$114.70K. That number tells you the day-to-day sales or grant income isn't the primary financial story right now; the focus is on development and funding.

However, the financial statements show a very large non-operating component. For the nine months ended September 30, 2025, the company recorded \$63.3 million in Other Income, which the filings confirm was primarily driven by the change in fair value of warrant liabilities. This is a non-cash, mark-to-market accounting event, but it represents a substantial financial inflow on paper for the period.

Here's a quick look at the key financial figures impacting the top line or near-term cash position:

Metric	Amount/Value	Period/Date
Minimal Trailing Twelve Months (TTM) Revenue	\$114.70K	As of Sep 30, 2025
Other Income (Primarily Change in Fair Value of Warrant Liabilities)	\$63.3 million	Nine Months Ended Sep 30, 2025
Proceeds from Equity Financing (Private Placement)	\$175 million	July 2025

Looking forward, the revenue streams are weighted heavily toward success in the clinic and subsequent deal-making. The most immediate potential product sales will come from SAB-142, which is currently in the pivotal Phase 2b SAFEGUARD study for delaying progression of autoimmune type 1 diabetes. If that study is successful, product sales post-approval become a primary, though still future, revenue stream.

Also critical to the model are external funding mechanisms, which have recently materialized strongly. The company secured \$175 million in gross proceeds from an oversubscribed private placement in July 2025. This cash infusion is intended to fully fund the SAFEGUARD study and extend the cash runway into the middle of 2028.

Beyond direct sales, SAB Biotherapeutics, Inc. relies on the potential for non-dilutive or upfront cash from partnerships. These future potential revenue streams include:

• Future potential licensing or collaboration milestone payments tied to clinical or regulatory achievements for their platform or specific assets like SAB-142.
• Potential for additional proceeds from the exercise of warrants issued in the July 2025 private placement, which could generate up to an additional \$284 million if exercised in full.

The current model is definitely built on financing R&D, not product sales, so far.