Dren Bio, a clinical-stage biotechnology company developing treatments for cancer and autoimmune diseases, has raised $350 million in an oversubscribed private funding round.
The investment was co-led by Juvia Group and Lightspeed Venture Partners. Other participating investors include Mirae Asset Capital Life Science, General Catalyst, Cormorant Asset Management, and OrbiMed. Existing investors such as 8VC, SR One, Taiho Ventures, and HBM Healthcare Investments also participated.
The company will use the funding to advance clinical development, prepare regulatory submissions, and support the planned commercial launch of its lead drug candidate, dibotatug (DR-01).
“We founded Dren Bio with a simple vision: pursue novel science to develop medicines that meaningfully improve the lives of patients with devastating diseases and few treatment options. Seeing dibotatug advance to this late stage of development, alongside a clinically validated platform that continues to generate promising new therapies, is deeply gratifying and reflects the vision that inspired us from day one,” said Nenad Tomasevic, Ph.D., Chief Executive Officer and Founder of Dren Bio. “Today’s financing, supported by an exceptional group of new and existing investors who share our mission is a proud moment for the team, and positions us to accelerate the development of novel therapies for a range of diseases.”
Dibotatug is an investigational antibody therapy designed to target and remove harmful immune cells while preserving the broader immune system. It is being developed for cytotoxic T-cell lymphoma and large granular lymphocytic leukemia, two rare blood disorders with significant unmet medical needs.
The funding will also support the development of dibotatug for additional diseases and accelerate Dren Bio’s wider drug development pipeline across cancer, autoimmune diseases, and other conditions.
“I’ve experienced first-hand what it takes to drive a late-stage program through approval. It is rare to find novel science of this quality, a drug candidate with clinical data as compelling as dibotatug, and a team that has proven it can execute, all in one place,” said Sujal Shah, Co-Founder and Managing Director at Juvia Group. “We believe dibotatug has the potential to dramatically change the treatment paradigm in multiple hematologic and autoimmune diseases with substantial unmet need, and we are excited to partner with Dren through this next phase of growth.”
Shelley Chu, M.D., Ph.D., Partner at Lightspeed, added, “We have been impressed by Dren Bio’s ability to translate differentiated biology into novel therapeutic programs and to advance those programs with speed and rigor. The progress of dibotatug provides an exciting foundation, while the breadth of the company’s platform and emerging pipeline creates multiple opportunities to deliver meaningful innovation for patients across a range of therapeutic areas.”
As part of the financing, Sujal Shah, Co-Founder and Managing Director at Juvia Group, and Shelley Chu, Partner at Lightspeed Venture Partners, have joined Dren Bio’s Board of Directors.
Founded in 2019, Dren Bio develops antibody-based treatments using its proprietary Targeted Myeloid Engager and Phagocytosis Platform. The company is also advancing other drug candidates for cancer, immunology, and neurological diseases.
