SAB Biotherapeutics to List on Nasdaq through Merger with Big Cypress Acquisition Corp., Advancing Unique Human Antibody Platform with Demonstrated Utility in Immunotherapy and Rapid Response to Emerging Diseases SAB Bio

Biotherapeutics to List on Nasdaq through Merger with Big Cypress Acquisition Corp., Advancing Unique Human Antibody Platform with Demonstrated

Utility in Immunotherapy and Rapid Response to Emerging Diseases

FALLS, S.D. & MIAMI, FLA., June 22, 2021 - SAB Biotherapeutics (SAB), a clinical-stage biopharmaceutical company with a

novel immunotherapy platform that produces targeted, high potency, fully-human polyclonal antibodies at scale, and Big Cypress Acquisition

Corp. (NASDAQ: BCYP), a blank check company focused on innovative biopharmaceutical firms, today announced that they have entered into

a definitive business combination agreement. Upon closing of the proposed transaction, the combined company will operate as SAB Biotherapeutics

and will continue to operate under the SAB management team, with Big Cypress Acquisition Corp.'s Samuel J. Reich and Jeffrey

G. Spragens joining the SAB Board of Directors. SAB co-founder and current executive chairman, Dr. Edward Hamilton, plans to transition

to a board observer role while remaining active in the company. Mr. Reich is expected to assume the role of executive chairman.

plans to be listed on NASDAQ following the closing of the transaction. The proposed transaction implies an enterprise value for SAB,

on a post-merger basis, of approximately $325 million (assuming a share price of $10.10 per share) and is expected to provide the combined

company with approximately $118 million of pro forma cash (assuming no redemptions from Big Cypress' trust account), to fuel development

and commercialization of SAB's unique DiversitAb platform that leverages its proprietary transchromosomic (Tc) bovine

herds to produce highly-potent targeted fully-human polyclonal antibody therapeutics for a wide range of immune system disorders, cancer

and infectious diseases without the need for human donors.

from the business combination are expected to support advancement of SAB's robust pipeline and platform through multiple catalysts

across several programs. These potentially include multiple clinical data read-outs, which represent potential value inflection events.

execution of this merger agreement caps 18 months of tremendous progress at SAB," said Eddie Sullivan, PhD, co-founder and chief

executive officer of SAB Biotherapeutics. "Years of innovation and investment in our unique human polyclonal antibody platform

have enabled us to rapidly respond to the COVID-19 pandemic, moving a therapeutic candidate from concept to the clinic in less than five

months. The awarded funding and our collaboration with the federal government, as part of COVID-19 Response (formerly Operation Warp

Speed), has enabled us to test, refine and advance our novel therapeutic development and internal production and regulatory processes,

as well as provide a model for future rapid response. This period of intense activity leaves us well-positioned to advance our portfolio

of novel therapies for immune system disorders, cancer and other infectious diseases. The unique attributes of our DiversitAb

platform power our diversified strategy that includes rapid response, development of our own novel therapeutics, and a variety of pharma

collaborations. We are excited at the expanded opportunities afforded by the merger to put our platform to work generating important

new therapies for unmet medical needs."

Big Cypress we screened more than 60 biotech companies in our search for the perfect merger partner," noted Sam Reich, chief executive

officer of Big Cypress Acquisition Corp. "We were thrilled when we found SAB Biotherapeutics, a distinctive and exciting approach

to marrying the power of nature with advanced genomic technology. SAB met or exceeded our criteria, demonstrating de-risked early development

processes, clinical proof-of-concept, therapeutic targets with large unmet needs and what we expect to be manageable Phase 3 trials,

high-value indications, and the ability to efficiently put additional capital to work advancing a high potential pipeline. We like that

SAB's innovative technology and management team are unconventional by biotech standards, with their novel DiversitAb platform

leveraging Tc bovine herds that rapidly produce fully-human polyclonal antibodies with almost unlimited therapeutic potential, as well

as their location in our nation's heartland. We look forward to working with the exceptional SAB team to advance this important

Biotherapeutics Overview

Biotherapeutics is a clinical-stage biopharmaceutical company advancing a new class of immunotherapies based on its human polyclonal

antibodies. Applying advanced genetic engineering and antibody science, SAB develops fully-human antibodies produced from transchromosomic

(Tc) bovine herds targeted at addressing 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 and scalable DiversitAb

platform is applicable to a wide range of serious human diseases. It rapidly produces natural, specifically targeted, high-potency, human

polyclonal immunotherapies at commercial scale. The platform has been developed and validated through funding awarded from US government

emerging disease and rapid response programs. SAB is currently advancing multiple clinical programs in a number of indications, in addition

to its collaborations with global pharmaceutical and other partners.

the closing of the business combination, and assuming a share price of $10.10 per share and no redemptions of shares of Big Cypress by

its public stockholders, SAB would be expected to have an enterprise value of approximately $325 million and cash resources of approximately

$118 million, including the contribution of up to $116 million from cash held in Big Cypress' trust account (less any redemptions).

Pro forma for the business combination, legacy shareholders of SAB will own approximately 68% of the post-merger public company, excluding

any contingent consideration and before giving effect to any potential exercise of Big Cypress' common stock purchase warrants

into shares of common stock following the closing. There is no minimum cash closing condition for the transaction.

transaction has been unanimously approved by both Big Cypress' and SAB's respective Boards of Directors. The proposed transaction

is subject to the approval of Big Cypress and SAB stockholders and the satisfaction or waiver of other customary conditions, including

a registration statement being declared effective by the U.S. Securities and Exchange Commission (the "SEC"), and is expected

to close in the fourth quarter of 2021.

information about the proposed transaction, including a copy of the merger agreement and an investor presentation, will be provided in

a Current Report on Form 8-K to be filed by Big Cypress with the SEC, which will be available at www.sec.gov.

is serving as exclusive financial advisor to SAB and Stradling Yocca Carlson & Rauth is serving as legal counsel. Chardan is serving as exclusive M&A advisor and financial advisor to Big Cypress and Dentons US LLP is serving as legal counsel.

Ladenburg Thalmann & Co. Inc. acted as sole book-running manager and Brookline Capital Markets, a division of Arcadia Securities,

LLC, acted as co-manager of Big Cypress $115 million IPO in January 2021 and Ladenburg Thalmann & Co. Inc. is acting as a capital

markets advisor to Big Cypress.

Call and Webcast Details

and Big Cypress Acquisition Corp. will host a conference call and live audio webcast to discuss the proposed transaction today

at 8:00 a.m. ET. To access the live conference call, please dial (833) 882-5274 (domestic) or (409) 937-8892 (international) at least

five minutes prior to the start time and refer to conference ID 1865196.

live audio webcast of the call can be accessed here and an archive will be available approximately two hours after the event.

SAB Biotherapeutics, Inc.

Biotherapeutics, Inc. (SAB) is a clinical-stage biopharmaceutical company advancing a new class of immunotherapies based on its 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 and scalable DiversitAb

platform is applicable to a wide range of serious human diseases. It rapidly produces natural, specifically-targeted, high-potency, human

polyclonal immunotherapies at commercial scale. The platform has been developed and validated through funding awarded from US government

emerging disease and rapid response programs. SAB is currently advancing multiple clinical programs in a number of indications, in addition

to its collaborations with global pharmaceutical and other partners. For more information visit: www.sabbiotherapeutics.com and

follow @SABBantibody on Twitter.

Big Cypress Acquisition Corp.

Cypress Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share

purchase, reorganization or similar business combination with one or more businesses with a focus within the life sciences industry.

The Company is led by Chief Executive Officer, Chief Financial Officer and Director Samuel J. Reich. For more information, visit www.bigcypressaccorp.com.

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 proposed business combination between the Company and SAB, the estimated or anticipated future

results and benefits of the combined company following the proposed business combination, including the likelihood and ability of the

parties to successfully consummate the proposed business combination, future opportunities for the combined company, and other statements

that are not historical facts. These statements are based on the current expectations of the Company's management 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 and will differ from assumptions. Many actual events and circumstances

are beyond the control of the Company and SAB. These statements are subject to a number of risks and uncertainties regarding the Company's

businesses and the proposed business combination, and actual results may differ materially. These risks and uncertainties include, but

are not limited to, general economic, political and business conditions; the inability of the parties to consummate the proposed business

combination or the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed business

combination Agreement; the outcome of any legal proceedings that may be instituted against

the parties following the announcement of the proposed business combination; the receipt of an unsolicited offer from another party for

an alternative business transaction that could interfere with the proposed business combination; the risk that the approval of the stockholders