The Covid-19 transgenic cow antibody startup goes public in $325M SPAC merger
The transgenic cows are going public.
SAB Biotherapeutics, the Sioux Falls, SD company trying to extract antibody treatments from genetically modified cows, announced Tuesday they would merge with the life science-focused SPAC Big Cypress Acquisition Corp. The deal will value the company at $325 million and equip them with $118 million.
That’s pennies next to some of the other biotechs to go public with SPACs in the past year: Valo Health, valued at $2.8 billion, or 23andMe, valued at $3.5 billion. But it’s a significant leap for SAB, a company that previously relied on government grants and modest venture rounds as they focused on infectious diseases — a field long overlooked by VCs and pharma prior to Covid-19.
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