Sab Biotherapeutics, Inc. · NASDAQ:SABS
Sab Biotherapeutics — Investor Presentation (March 2026)
28 slides from Sab Biotherapeutics's investor presentation, Mar 10, 2026
Slide 1: Corporate Presentation Q1 2026: Targeting T1D Modifying Disease
Corporate Presentation Q1 2026 Targeting T1D Modifying Disease Moving Beyond Insulin EXHIBIT 99.2
Slide 2: Disclaimer
The material in this presentation has been prepared by SAB Biotherapeutics, Inc., doing business as SAB BIO (“SAB”) and is general background information about SAB’s activities current as of the date of this presentation. This information is given in summary form and is not intended to be complete.
Slide 3: Transforming Treatment for People Living with Autoimmune Diseases
Transforming Treatment for People Living with Autoimmune Diseases through a Unique Disease-modifying Therapy At SAB BIO, our mission is to dramatically redefine what it means to be diagnosed with Type 1 Diabetes by developing a medicine to change the course of disease, not just treat symptoms
Slide 4: SAB BIO Investment Highlights
Leading Clinical-Stage Company Focused on Autoimmune Type 1 Diabetes SAB BIO Investment Highlights Potential for Significant Value Creation and Patient Impact REDEFINING T1D TREATMENT LANDSCAPE SAB-142, our lead product candidate, is a potentially best-in-class, disease-modifying therapy with a de-r
Slide 5: SAB-142: Potential Disease-modifying Immunotherapy for Type 1 Diabetes
SAB-142: Potential Disease-modifying Immunotherapy Being Developed to Delay the Onset and Progression of Type 1 Diabetes Early intervention is essential and life-long disease modification is possible with effective, safe, and reliable redosing Goal: develop a T1D therapy that immunomodulates T cells
Slide 6: Proprietary Tc Bovine platform for fully human polyclonal antibodies
SAB has a proprietary platform that can produce targeted, fully human, multi-specific polyclonal antibodies without the need for human donors through its Tc Bovine platform SAB-142 is Manufactured Using our Fully Human Immunoglobulin G (hIgG) to Treat and Prevent Autoimmune Disorders Upstream at SAB
Slide 7: T1D Occurs in Progressive Stages
T1D Occurs in 3 Progressive Stages Identified by the Presence of Multiple Autoantibodies and Increasing Glycemic Levels T1D is associated with serious long-term complications, including diabetic nephropathy, neuropathy, and retinopathy, as well as increased risk of cardiovascular disease, peripheral
Slide 8: Significant Unmet Need in Type 1 Diabetes
Significant Unmet Need in Type 1 Diabetes Source:: 1 Rogers MAM, Kim C, Banerjee T, Lee JM. Fluctuations in the incidence of type 1 diabetes in the United States from 2001 to 2015: a longitudinal study. BMC Med. 2017 Nov 8;15(1):199. doi: 10.1186/s12916-017-0958-6. PMID: 29115947; PMCID: PMC5688827.
Slide 9: Leveraging rATG clinical findings for SAB-142
*Not measurable in healthy volunteers. 2013 2018 2025 2013 rATG Tested in Academic Setting (START Study) (Gitelman et al., 2013) Dosage 6.5mg/kg Lymphodepletion C-peptide HbA1c Serum Sickness Ability to redose 2018 rATG Tested in Academic Setting (TN-19 Study) (Haller et al., 2018) Dosage 2.5mg/kgg
Slide 10: SAB-142 Phase 1 Data Demonstrated Encouraging Efficacy Signals
Confirm SAB-142 not immunogenic Immunogenicity Not observed to cause anti-drug antibodies Enables safe and reliable redosing Position SAB-142 for a convenient, potentially twice a year dosing regimen Safety and Tolerability No sustained lymphodepletion leading to immuno-suppression; no neutropenia o
Slide 11: Adult Established T1D Cohort: Baseline Characteristics
*One placebo subject discontinued after Day 45 Note: SD = Standard deviation Adult Established T1D Cohort: Baseline Characteristics SAB-142 2.5 mg/kg T1D (n=4) Placebo T1D (n=2)* Age range (mean) 19-40 (28.75) 19-34 (26.5) Sex 2 Female & 2 Male 2 Female C-peptide AUC for 2-hr MMTT (nmol/L)/min n 4 1
Slide 12: Adult Established T1D Cohort: C-Peptide Responses
PBO 2.5 mg/kg TN19 Placebo Cohort1 N = 1 4 1 4 1 4 Day SAB-142 0.3 0.2 0.1 0.0 -0.1 -0.2 Adult Established T1D Cohort: C-Peptide Responses C-peptide demonstrated preservation over time in the SAB-142 T1D cohort vs. study placebo and TN19 placebo cohort1 Supports a PD effect consistent with preservat
Slide 13: Phase 1 Safety Data Support Outpatient Dosing
Phase 1 data confirmed advancement into a registrational Phase 2b study in newly diagnosed adult, adolescents, and pediatric T1D patients (age 5-40) Complete Phase 1 Safety Data Support Outpatient Dosing and Chronic Treatment Potential Note: AE = Adverse Events; SAE = Serious Adverse Events; CRS = C
Slide 14: SAB-142: Potential for Broadest Use with Superior Safety
CD4+ exhaustion signature Treg preservation No sustained lymphodepletion (Tconv and/or Tregs) No anti-drug antibodies (ADAs) No serum sickness C-peptide preservation HbA1C Dosing 12 DAYS x 2 (Annual, not redosable) 1-2 DAYS (Not redosable) 2 DAYS x 2 (Annual, redosable) Infusing timing 1 HOUR 4-12 H
Slide 15: SAFEGUARD: Multicenter Global Phase 2b in Stage 3 T1D
SAFEGUARD: Multicenter, Global Phase 2b for SAB-142 in Stage 3 Type 1 Diabetes Patients Trial design: 159 pediatric, adolescent, and adult patients (5-40 years) Part A: 12 patients – dose-ranging study for 12 months Part B: 147 patients – randomized, double-blind, placebo-controlled, dose-ranging st
Slide 16: Strong Balance Sheet with Committed Strategic Partners
Strong Balance Sheet with Committed Strategic Partners Raised $175 million in July 2025 with the potential for an additional $284 million if milestone-based warrants are exercised in full Financial Snapshot: Cash* $144M Cash Runway* Through 2028 T1D Clinical Development Partner: SAB-142 clinical dev
Slide 17: Advancing a Pipeline in Autoimmune Diseases Led by SAB-142
Preclinical Phase 1 Phase 2 Phase 3 Milestones: Delaying progression of T1D in new onset T1D patients (Stage 3) Maintenance of Stage 3 T1D (LTE Part C SAFEGUARD) Delaying onset of Stage 3 T1D (Stage 2) Advancing a Pipeline in Autoimmune Diseases Led by SAB-142 In vivo and in vitro pre-clinical and P
Slide 18: Strong 2025 Execution with Significant Catalysts Expected in 2026-2027
Strong 2025 Execution with Significant Catalysts Expected in 2026-2027 2025 2026 2027 2H 2025: Phase 2b SAFEGUARD Initiation Q2 2025: SAFEGUARD Type B FDA meeting Q3 2025: MELD Data at EASD Confirmed rATG efficacy, including HbA1c reduction and C-peptide preservation Q4 2025: SAB-142 Phase 1 redosin
Slide 19: SAB BIO Investment Highlights
Leading Clinical-Stage Company Focused on Autoimmune Type 1 Diabetes SAB BIO Investment Highlights Potential for Significant Value Creation and Patient Impact REDEFINING T1D TREATMENT LANDSCAPE SAB-142, our lead product candidate, is a potentially best-in-class, disease-modifying therapy with a de-r
Slide 20: Targeting T1D Modifying Disease Moving Beyond Insulin
Targeting T1D Modifying Disease Moving Beyond Insulin
Slide 21: Appendix
Appendix
Slide 22: SAB-142 Offers Distinct Advantages Over rATG
SAB-142 Offers Distinct Advantages Over rATG DISADVANTAGES Majority of patients develop grade 3 serum sickness Inability to safely and reliably redose due to serum sickness and antibodies Leads to lymphodepletion up to 2 years which may increase risk in immunosuppression Low/no immunogenicity due to
Slide 23: SAB-142 Demonstrates a Comparable MOA to rATG
SAB-142 Demonstrates a Comparable MOA to rATG, including Induction of Key T-cell Exhaustion Markers that have been Correlated with C-peptide Preservation in Prior rATG Studies Note: SAB-142: combined 1.5mg/kg and 2.5mg/kg dosed cohorts. Treg (CD3+ CD4+ CD127lo CD25+ FoxP3+) ± SEM Relative PD-1+ Tcon
Slide 24: SAB-142 Phase 1 Top-Line Data: Operational Tolerance
SAB-142 Phase 1 Top-Line Data: SAB-142 Induces Operational Tolerance as Indicated by Single and Dual-Exhaustion Markers Note: SAB-142: combined 1.5mg/kg and 2.5mg/kg dosed cohorts. Placebo SAB-142 % of Pre-Infusion Day SAB-142 Tconv Median % Change from Baseline PDL-1/KLRG1 PD-1/TIGIT KLRG1/TIGIT D3
Slide 25: SAB-142: The Next Generation of Beta Cell Guardians
Transient Cytokine Increase Transient Lymphocyte Margination SAB-142: The Next Generation of Beta Cell Guardians Sustained Immunomodulation without Lymphodepletion Treg preservation & activation Initiation of memory phenotype shift Reprogramming Phase Sustained Immunomodulation Activation Phase Lymp
Slide 26: Rabbit ATG: De-Risked Mechanism of Action (TN-19)
Rabbit ATG: De-Risked Mechanism of Action *Haller MJ, Long SA, Blanchfield JL, Schatz DA, Skyler JS, Krischer JP, Bundy BN, Geyer SM, Warnock MV, Miller JL, Atkinson MA, Becker DJ, Baidal DA, DiMeglio LA, Gitelman SE, Goland R, Gottlieb PA, Herold KC, Marks JB, Moran A, Rodriguez H, Russell WE, Wils
Slide 27: Rabbit ATG: De-Risked Mechanism of Action (MELD-ATG)
Rabbit ATG: De-Risked Mechanism of Action MELD-ATG: Minimal Effective Low Dose of rATG* Preserved C-peptide in New Onset T1D 1 Year Post Treatment 27 ATG is the only mechanism of action that has consistently reproduced clinical data demonstrating preservation of C-peptide and improvements in glycemi
Slide 28: Thymoglobulin's Profile is Superior to Tzield in Stage 3 T1D
Thymoglobulin’s Therapeutic and Dosing Profile is Superior to Tzield in Stage 3 T1D Patients* PHASE 3 (PROTECT) DATA PHASE 2 TN-19 and MELD DATA C-peptide Primary end point of C-peptide levels met at Month 18 Primary end point of C-peptide AUC met at Month 12 HbA1c Missed statistical significance St
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