Dren Bio Raises $350M to Push Blood Cancer Drug Dibotatug Toward Market

California biotech Dren Bio has closed an oversubscribed $350 million private financing co-led by Juvia Group and Lightspeed Venture Partners, money it will use to move lead antibody dibotatug toward regulatory submission and a planned commercial launch. The company did not disclose a valuation or assign a series to the round.

New investors Mirae Asset Capital Life Science, General Catalyst, Cormorant Asset Management and OrbiMed joined existing backers 8VC, SR One, Taiho Ventures, Mission BioCapital, HBM Healthcare Investments, BVF Partners, Aisling Capital and ArrowMark Partners. Juvia's Sujal Shah and Lightspeed's Shelley Chu join the board. According to BioSpace, Dren previously raised a $60 million Series A in 2020 and a $65 million Series B in 2022.

Dibotatug and Two Rare Blood Cancers

Dibotatug (DR-01) is an investigational, fully human monoclonal antibody that targets CD94. It is designed to deplete pathogenic cytotoxic cells while leaving the broader immune system intact. Its lead indications are cytotoxic T-cell lymphoma and large granular lymphocytic leukemia, two rare blood cancers with no approved therapies.

More than 300 patients have been dosed in an ongoing Phase 1/2 study. Dren reports high overall and complete response rates in relapsed or refractory patients and a favorable safety profile, with data presented at ASH, EHA and SOHO. The drug is also being studied in aplastic anemia, other bone marrow failure syndromes and autoimmune diseases. Endpoints News reported that the company hopes to get the drug onto the market by the end of 2027.

"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 Shah, co-founder and managing director of Juvia Group.

A Platform Sanofi Already Bought Into

Beyond dibotatug, Dren is developing multispecific antibodies through its Targeted Myeloid Engager and Phagocytosis Platform, which engages a novel phagocytic receptor selectively expressed on myeloid cells. The platform's first program, DR-0201, now SAR448501, was acquired by Sanofi in May 2025. A second candidate, DR-0202, is being evaluated in solid tumors, and the company says the platform supports programs in oncology, immunology and neurology.

"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," said Chu, a partner at Lightspeed.

Founded in 2019 by CEO Nenad Tomasevic, Dren won the 2025 Prix Galien USA Award for Best Biotech Startup. Beyond dibotatug's late-stage development, proceeds will fund expansion into additional indications and the wider oncology and autoimmune pipeline.

Why It Matters

A $350 million private round for a company that has not yet filed for approval is a large bet, and it signals that investors see dibotatug as close to a registrational outcome rather than an early-stage gamble. Raising privately at this scale also lets Dren fund regulatory and launch preparation without leaning on public markets.

Rare blood cancers like CTL and LGLL have no approved options, which gives a first therapy a clear opening if the data hold. With Sanofi already validating the platform, Dren now has the capital to show whether it can take a drug of its own all the way to patients.

Source

Business Wire — Dren Bio Announces $350 Million Financing to Advance Dibotatug Toward Commercialization and Accelerate Development of Its Broader Pipeline