California-Based Dren Bio Raises $350M in Private Financing

Dren Bio, a San Carlos, CA-based biotechnology company developing first-in-class antibody therapeutics, has raised $350 million in a private financing round.

The round was co-led by Juvia Group and Lightspeed Venture Partners with participation from Mirae Asset Capital Life Science, General Catalyst, Cormorant Asset Management, OrbiMed, 8VC, SR One, Taiho Ventures, Mission BioCapital, HBM Healthcare Investments, BVF Partners, Aisling Capital, and ArrowMark Partners.

The company will use the funding to advance clinical development and regulatory preparations for its lead drug candidate, dibotatug (DR-01), support its planned commercial launch, and expand its wider drug development pipeline.

What is Dren Bio?

Dren Bio is a clinical-stage biopharmaceutical company developing antibody-based treatments for cancer, autoimmune conditions, and other serious diseases.

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Its lead investigational drug, dibotatug (DR-01), is a monoclonal antibody designed to target CD94 proteins and selectively remove harmful immune cells while preserving the broader immune system.

Dren Bio is also developing treatments using its proprietary Targeted Myeloid Engager and Phagocytosis Platform. This technology uses specially designed antibodies to engage myeloid cells and help remove disease-causing cells, protein aggregates, and other harmful targets.

How Much Funding Has Dren Bio Raised?

Dren Bio has raised $350 million in its latest private financing round. The company has not disclosed its total funding raised to date or details of previous funding rounds.

Who Invested in Dren Bio’s Private Financing?

The $350 million financing was co-led by Juvia Group and Lightspeed Venture Partners.

Other participating investors include:

• Mirae Asset Capital Life Science
• General Catalyst
• Cormorant Asset Management
• OrbiMed
• 8VC
• SR One
• Taiho Ventures
• Mission BioCapital
• HBM Healthcare Investments
• BVF Partners
• Aisling Capital
• ArrowMark Partners

Why the Funding Matters

The funding will support the continued clinical development of dibotatug, including late-stage trials, regulatory submissions and its planned commercial launch.

Dren Bio will also use the capital to study the drug across additional indications and advance its broader pipeline in oncology, immunology, and neurology.

The investment will support programmes built around the company's proprietary antibody technology, which is designed to target harmful cells and other disease-related material.

Who founded Dren Bio?

Dren Bio was founded in 2019 by Nenad Tomasevic. The company is headquartered in San Carlos, California.

“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.

“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.

Market and Business Growth

Dren Bio is advancing dibotatug across several blood-related conditions, including cytotoxic T-cell lymphoma and LGLL.

Its broader research pipeline includes programmes targeting cancer, autoimmune conditions, and other diseases. The company is also developing treatments using its Targeted Myeloid Engager and Phagocytosis Platform.

What Happens Next?

Dren Bio plans to advance late-stage clinical trials of dibotatug, prepare regulatory submissions and work towards a planned commercial launch. It will also expand research into additional indications and accelerate development of its wider pipeline across oncology, immunology, and neurology.

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