Dren Bio, a clinical-stage biotechnology company, raised $350 million in an oversubscribed private financing. Juvia Group and Lightspeed Venture Partners co-led the round. The company develops antibody therapies for cancer, autoimmune diseases, and other serious conditions.
Use of proceeds
The funding will support late-stage development of dibotatug, the company's lead therapy. It will also cover regulatory submission and a planned commercial launch. Dren Bio plans to expand the drug into additional indications and advance its broader pipeline.
Company context
Dren Bio was founded in 2019 and is based in San Carlos, California. The company received the 2025 Prix Galien USA Award for Best Biotech Startup. In May 2025, Sanofi acquired its platform program DR-0201, now known as SAR448501.
The lead therapy
Dibotatug is a first-in-class antibody targeting CD94. It selectively depletes pathogenic cytotoxic cells while preserving the broader immune system. The drug is being studied in cytotoxic T-cell lymphoma and large granular lymphocytic leukemia, two rare blood cancers with no approved therapies.
New investors included Mirae Asset Capital Life Science, General Catalyst, Cormorant Asset Management, and OrbiMed. Existing investors such as 8VC, SR One, and Taiho Ventures also participated. Sujal Shah and Shelley Chu joined Dren Bio's board of directors in connection with the financing.