Dren Bio has closed a $350 million private financing to fund further clinical development, a regulatory submission and a planned launch for its experimental blood cancer drug dibotatug. Juvia Group and Lightspeed Venture Partners co-led the oversubscribed round, announced by the company on October 29.
When Dren raised a $65 million Series B in June 2022, it was preparing to begin dibotatug’s first trial in patients. The new round will also finance studies of the drug in additional diseases and development of other cancer and autoimmune treatments.
The San Carlos, California, biotech develops antibody medicines that target disease-causing cells. Dibotatug, also called DR-01, targets the CD94 protein on certain immune cells; Dren says it is designed to spare the broader immune system. Its most advanced studies involve cytotoxic T-cell lymphoma and large granular lymphocytic leukemia, or LGLL.
Preliminary clinical results reported by OncLive in September showed a 60% response rate, including 40% complete responses, among 45 evaluable LGLL patients at two dose levels in an open-label Phase 1/2 study. In an interview with the outlet, MD Anderson investigator Tapan Kadia said an early infusion reaction led clinicians to add steroids before treatment and divide the initial dosing across two days.
Dren has sold a separate antibody program to Sanofi. In May 2025, Sanofi completed its acquisition of the affiliate holding DR-0201 for $600 million upfront, with further payments tied to development and launch milestones. That agreement left Dren operating independently with its remaining pipeline.