SABSW - SAB Biotherapeutics Approves Appointment of Andrew Moin to Board of Directors | Benzinga
SIOUX FALLS, S.D., Oct. 05, 2023 (GLOBE NEWSWIRE) -- SAB Biotherapeutics (NASDAQ:SABS), a clinical-stage biopharmaceutical company with a novel immunotherapy platform that is developing fully-human anti-thymocyte immunoglobulin (hIgG) for delaying the onset or progression of type 1 diabetes (T1D), today announced that the SAB Board of Directors has approved the appointment of Andrew Moin to the Company's Board of Directors. SAB also announced the closing of the issuance of Series A-1 Preferred Stock, the first tranche of the $130 million in private financing the company announced on Oct. 2. The gross proceeds of the issuance of Series A-1 Preferred Stock are approximately $7.5 million.
With Mr. Moin's appointment, SAB Biotherapeutics' Board is composed of nine directors, seven of whom are independent. Mr. Moin serves as Partner and Analyst at Sessa Capital, a New York based investment advisor registered with the SEC. Sessa Capital makes, on behalf of its funds and accounts, concentrated investments in value-oriented equity and debt securities, based on in-depth fundamental research. Mr. Moin has been with Sessa since 2012, where he works on idea generation, research, and investment implementation. He has also been deeply involved in the type 1 diabetes community for over 20 years, including as a volunteer and member of the Young Leadership Committee of the New York City Chapter of the JDRF and an early supporter of multiple fundamental diabetes research and innovation projects.
Prior to Sessa, Mr. Moin was in the Tax Group at Sullivan & Cromwell LLP, where he advised corporate and other clients on a variety of transactions, including mergers & acquisitions, spinoffs, financings, and restructurings. He has a B.A. in Economics, with distinction, from Amherst College, a J.D., magna cum laude, from Harvard Law School, and is a member of the New York Bar.
"The entire team at SAB Biotherapeutics is most grateful Andrew has accepted a position on the Company's Board of Directors," said Samuel J. Reich, Executive Chairman of SAB. "With Andrew's appointment, SAB is strengthening its commitment to fighting type 1 diabetes and advancing our lead therapeutic candidate, SAB-142. Andrew combines broad business acumen with a commitment to better serving the needs of those with type 1 diabetes. His many strengths will benefit the Company as we advance SAB-142 through the clinical trial process."
Mr. Moin said: ...