Officials in Sioux Falls announce $3M investment in biotech
SIOUX FALLS (AP) — Officials in Sioux Falls have announced a $3 million investment to bolster the city’s growing biotech industry.
The commitment involves a first-of-its-kind partnership between the Governor’s Office of Economic Development, The Sioux Falls Development Foundation and SAB Biotherapeutics. The Sioux Falls company uses genetically engineered cattle to produce human antibodies.
Development Foundation President Slater Barr says he hopes the investment is “the catalytic event to really allow this industry to take off.” The company could employ up to 300 people within the next three to five years.
Sioux Falls is home to a growing number of biotech companies dealing with such things as human and animal health, agriculture and energy.
The city last year hosted the national Livestock Biotechnology Summit for the second time in the event’s five-year history.