Dren Bio raises US$350M to advance dibotatug towards late-stage clinical development
The clinical-stage biotechnology company will also use the proceeds to expand its research pipeline across autoimmune diseases, immunology, neurological disorders and oncology.
USA – Dren Bio has raised US$350 million in an oversubscribed private financing round to advance its lead investigational therapy, dibotatug (DR-01), through late-stage clinical development and potential commercialisation.
The clinical-stage biotechnology company will also use the proceeds to expand its research pipeline across autoimmune diseases, immunology, neurological disorders and oncology.
Juvia Group and Lightspeed Venture Partners co-led the financing.
As part of the transaction, Juvia Group Co-founder and Managing Director Sujal Shah and Lightspeed Partner Shelley Chu joined Dren Bio’s Board of Directors.
New investors included Cormorant Asset Management, General Catalyst, Mirae Asset Capital Life Science and OrbiMed.
Existing backers 8VC, Aisling Capital, ArrowMark Partners, BVF Partners, HBM Healthcare Investments, Mission BioCapital, SR One and Taiho Ventures also participated.
Dibotatug targets disease-causing immune cells
Dibotatug is a fully human monoclonal antibody designed to bind cluster of differentiation 94 (CD94), a protein found on certain immune cells.
The therapy aims to selectively eliminate disease-causing cytotoxic cells while preserving the broader immune system.
Dren Bio’s most advanced clinical programmes are investigating the treatment of cytotoxic T-cell lymphoma, an aggressive blood cancer, and large granular lymphocytic leukaemia (LGLL), a chronic blood disorder that can cause severe neutropenia, anaemia and the need for blood transfusions.
Both conditions have limited treatment options, creating an unmet need for therapies that can target abnormal immune cells without broadly suppressing immune function.
More than 300 patients have received dibotatug in an ongoing Phase I/II clinical trial involving people with relapsed or refractory forms of the two diseases.
Dren Bio plans to extend clinical development into aplastic anaemia, other bone marrow failure syndromes and autoimmune diseases.
Investors back broader pipeline development
Dren Bio Founder and Chief Executive Officer Nenad Tomasevic said the company was established to develop medicines for patients with serious diseases and limited treatment options.
He noted that dibotatug’s clinical progress, alongside the development of additional candidates through the company’s research platform, reflects the scientific strategy behind its formation.
The financing provides Dren Bio with additional capital to support clinical development, regulatory preparations and the expansion of its pipeline.
The involvement of new and existing specialist healthcare investors also reflects continued investor interest in antibody-based treatments targeting specific immune cell populations.
In July 2024, Dren Bio entered a partnership with Novartis subsidiary Novartis Pharma to discover and develop bispecific antibodies for cancer treatment.
The collaboration expanded the company’s involvement in antibody drug development and established a relationship with a major pharmaceutical partner.
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