Dren Bio has raised $350 million in an oversubscribed private financing round to advance its experimental drug dibotatug towards potential commercialisation and accelerate the development of its broader drug pipeline.
The California-based biotechnology company said the funding will support the late-stage clinical development, regulatory submissions and planned commercial launch of dibotatug, also known as DR-01. The drug is being developed for rare blood cancers and other blood-related and autoimmune diseases.
The financing was co-led by Juvia Group and Lightspeed Venture Partners. Several new investors also participated in the round, including Mirae Asset Capital Life Science, General Catalyst, Cormorant Asset Management and OrbiMed. Existing investors such as 8VC, SR One, Taiho Ventures, Mission BioCapital, HBM Healthcare Investments, BVF Partners, Aisling Capital and ArrowMark Partners also took part.
Dibotatug is an investigational monoclonal antibody that targets a protein called CD94. It is designed to selectively remove harmful immune cells while preserving the wider immune system.
The drug is being studied in patients with cytotoxic T-cell lymphoma (CTL) and large granular lymphocytic leukaemia (LGLL). Both are rare blood cancers with significant unmet medical needs and limited treatment options.
Cytotoxic T-cell lymphoma is an aggressive type of blood cancer that affects certain immune cells. Large granular lymphocytic leukaemia is a chronic blood cancer that can lead to serious complications, including low neutrophil counts, anaemia and dependence on blood transfusions.
According to Dren Bio, more than 300 patients have received dibotatug in its Phase 1/2 clinical study. The company reported encouraging overall and complete response rates among patients with relapsed or refractory disease, along with a favourable safety and tolerability profile.
The clinical findings have been presented at major medical meetings, including the American Society of Hematology (ASH), the European Hematology Association (EHA) and the Society of Hematologic Oncology (SOHO).
Beyond its two leading blood cancer indications, Dren Bio is also exploring dibotatug for aplastic anaemia, other bone marrow failure conditions and autoimmune diseases.
The new funding will also support the company’s wider research pipeline across oncology and autoimmune conditions. Several of these programmes are based on its proprietary Targeted Myeloid Engager and Phagocytosis Platform.
This technology uses specially designed antibodies to bring immune cells called myeloid cells into contact with disease-causing cells or substances. The approach is intended to help the immune system recognise and remove harmful targets.
The platform has already attracted pharmaceutical industry interest. Its lead programme, DR-0201, now known as SAR448501, was acquired by Sanofi in May 2025. Another candidate, DR-0202, is being evaluated for solid tumours.
As part of the latest financing, Sujal Shah, Co-Founder and Managing Director of Juvia Group, and Shelley Chu, Partner at Lightspeed Venture Partners, have joined Dren Bio’s Board of Directors.
Dren Bio’s latest fundraising marks a major step in its efforts to advance dibotatug towards potential approval while expanding its antibody-based drug development programmes. The investment also reflects continued interest in new treatment approaches for rare blood cancers and diseases with limited available therapies.
However, dibotatug remains investigational and has not yet received regulatory approval. Further clinical studies and regulatory reviews will be required to establish its safety and effectiveness.