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SAB Biotherapeutics Appoints Russell Beyer Chief Financial Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
SAB Biotherapeutics has appointed Russell Beyer as chief financial officer, effective September 20, 2021. With over 25 years of experience in financial operations at major pharmaceutical companies, Beyer aims to enhance SAB's financial growth. The company is advancing its candidate, SAB-185, into a Phase 3 trial, as part of a broader pipeline targeting various diseases. This leadership change coincides with SAB's planned merger with Big Cypress Acquisition Corp, expected to close in the fourth quarter of 2021, potentially strengthening SAB's financial position.
Positive
Russell Beyer's appointment as CFO brings over 25 years of relevant experience from major pharmaceutical firms, indicating potential for improved financial operations.
SAB-185 is entering Phase 3 trials, showcasing progress in SAB's promising immunotherapy pipeline.
Negative
Concerns about continuity and experience gaps during the transition to a new CFO.
The merger with Big Cypress Acquisition Corp may introduce uncertainties during the integration process.
SIOUX FALLS, S.D.--(BUSINESS WIRE)--
SAB Biotherapeutics (SAB), a clinical-stage biopharmaceutical company with a novel immunotherapy platform that produces specifically targeted, high-potency, fully-human polyclonal antibodies without the need for human donors, today announced the appointment of Russell Beyer as chief financial officer (CFO), effective September 20, 2021. Mr. Beyer will lead all aspects of SAB’s financial operations and key supporting functions and will work with the senior management team to drive SAB’s growth.
(Photo: Business Wire)
“We welcome Russell to the SAB team at an exciting time in the company’s growth, as we advance SAB-185 into our first Phase 3 trial, as part of the NIH-sponsored ACTIV-2 trial protocol, based on a promising DSMB interim analysis and continue development of our broad pipeline spanning multiple diseases,” said Eddie J. Sullivan, PhD, co-founder, president and CEO of SAB Biotherapeutics. “We expect Russell’s extensive and varied experience managing all aspects of financial reporting and operations at global pharmaceutical companies will be invaluable as we seek to scale our operations, broaden our scope and advance our investigational products.”
Mr. Beyer brings more than 25 years of experience to SAB overseeing financial functions at pharmaceutical and other Fortune 100 firms including AstraZeneca, Teva Pharmaceuticals and HBO. Most recently, he was senior director of financial operations at Teva, managing financial operations for shared services for the Americas. Previously, Mr. Beyer held vice president positions at World Fuel Services Corporation, a major marketer of fuel products, where he helped the CEO manage major operational change. Earlier, Mr. Beyer worked in financial management positions at the Clorox Company, where he was CFO for Latin America; at HBO, where he was vice president for finance and treasurer for Latin America; and at AstraZeneca Pharmaceuticals, where he held positions of increasing responsibility, including managing the merger of Astra and Zeneca in Mexico as country CFO. Mr. Beyer began his career at the Hewlett-Packard Company, where he ultimately served as a country chief financial officer. Mr. Beyer received a BA degree from St. Lawrence University and an MBA from the Simon School of Business at the University of Rochester. He is a Certified Management Accountant.
“I am excited to join the SAB team at this pivotal time, as the company continues to develop a late-stage therapeutic candidate and a promising, robust pipeline,” said Mr. Beyer. “SAB has developed and optimized the technology and established sophisticated infrastructure to produce polyclonal antibody therapeutics at scale. I look forward to working with the team and contributing to the company’s success as we embark on this next stage of the company’s growth.”
On June 22, 2021, SAB announced a planned merger with Big Cypress Acquisition Corp. The transaction is expected to close in the fourth quarter of 2021.
About SAB Biotherapeutics, Inc.
SAB Biotherapeutics, Inc. (SAB) is a clinical-stage, biopharmaceutical company advancing a new class of immunotherapies leveraging fully human polyclonal antibodies. SAB has applied advanced genetic engineering and antibody science to develop transchromosomic (Tc) Bovine™ herds that produce fully-human antibodies targeted at specific diseases, including infectious diseases such as COVID-19 and influenza, immune system disorders including type 1 diabetes and organ transplantation, and cancer. SAB’s versatile DiversitAb™ platform is appliable to a wide range of serious unmet needs in human diseases. It produces natural, specifically targeted, high-potency, human polyclonal immunotherapies. SAB is currently advancing multiple clinical programs and has a number of collaborations with the US government and global pharmaceutical companies. For more information on SAB, visit: http://www.sabbiotherapeutics.com and follow @SABBantibody on Twitter.
Forward-Looking Statements
Certain statements made herein that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events, the development of SAB-185, and the proposed business combination between Big Cypress and SAB. These statements are based on the current expectations of SAB and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict, will differ from assumption and are beyond the control of SAB.
Additional Information and Where to Find It
In connection with the proposed business combination, Big Cypress has filed with the SEC a definitive proxy statement/prospectus. Big Cypress commenced mailing of the definitive proxy statement/prospectus to its stockholders on September 23, 2021. A proxy statement/prospectus will be sent to all Big Cypress stockholders as of the record date of September 17, 2021. This communication is not a substitute for the Registration Statement, the definitive proxy statement/final prospectus or any other document that Big Cypress will send to its stockholders in connection with the proposed business combination. Investors and security holders of Big Cypress are advised to read the proxy statement/prospectus in connection with Big Cypress’ solicitation of proxies for its special meeting of stockholders to be held to approve the proposed business combination (and related matters) because the proxy statement/prospectus contains important information about the proposed business combination and the parties to the proposed business combination. Stockholders will also be able to obtain copies of the proxy statement/prospectus, without charge at the SEC’s website http://www.sec.gov or by directing a request to ir@bigcypressaccorp.com.
Participants in the Solicitation
Big Cypress, SAB and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Big Cypress’ stockholders in connection with the proposed business combination. Investors and security holders may obtain more detailed information regarding the names and interests in the proposed business combination of Big Cypress’ directors and officers in Big Cypress’ filings with the SEC including the Registration Statement that has been submitted to the SEC by Big Cypress, once finalized, which will include the proxy statement of Big Cypress for the proposed business combination, and such information and names of SAB’s directors and executive officers also be in the Registration Statement submitted to the SEC by Big Cypress, which will include the proxy statement of Big Cypress for the proposed business combination.
Non-Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Big Cypress or SAB, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
What is the significance of Russell Beyer's appointment as CFO of SAB Biotherapeutics?
Beyer's appointment is significant as he brings over 25 years of experience in financial operations from major firms, potentially enhancing SAB's financial management and growth.
When does the merger with Big Cypress Acquisition Corp close?
The merger with Big Cypress Acquisition Corp is expected to close in the fourth quarter of 2021.
What are the implications of SAB-185 entering Phase 3 trials?
SAB-185's entry into Phase 3 trials indicates substantial progress in SAB's drug development, which could boost investor confidence and the company’s market position.
What challenges might SAB Biotherapeutics face with the new CFO?
Challenges may include continuity issues and potential experience gaps during the transition period as the company adjusts to new leadership.
How does Russell Beyer's background impact SAB Biotherapeutics?
Beyer's extensive background in finance within the pharmaceutical industry may provide valuable insights and strategies for scaling SAB's operations.
