Sanford Frontiers acquired Hematech

$3 Million State Investment Into Biotech Company  January 6, 2015, 3:00 PM by Angela Kennecke SIOUX FALLS, SD - A Sioux Falls Biotech Company that's working to develop a vaccine and treatment therapies for Ebola is getting a $3 million shot in the arm from the state through the Sioux Falls Development Foundation. The Development Foundation is investing the money into SAB Biotherapeutics as it works toward immunizations and treatments for a variety of diseases from Ebola to influenza to cancer. SAB's serum from genetically engineered cattle has already been used to treat the deadly Hantavirus.The money will allow SAB Biotherapeutics to expand at its current location at the Sanford Research Park, with the possibility for future expansion at the new USD Research Park at University Center.SAB is expected to add 200 jobs over the next few years; the positions will be high-paying jobs that will have salaries in the $50,000 to $75,000 a year range.The Governor's Office of Economic Development provided the money through a Future Fund grant.The state's Future Fund is expected to collect $15 million this year from South Dakota employers and is paid by companies with their unemployment tax. The money can be used for research and economic development.Sanford Frontiers, a division of Sanford Health, acquired Hematech, Inc. in 2012 and it became Sanford Applied Biosciences.In 2014, SAB brought in additional investors and became its own entity.Hematech was founded in 1998 on the East Coast to produce antibodies for people in genetically engineered cattle. Hematech formed a joint venture with Trans Ova Genetics in Sioux Center, Iowa, in 2003. The Sioux Center facility houses research animals.In 1998, Hematech cloned the first calves in the world through genetic engineering.