Home MedTech & BioTech Protein-Engineering company Dren Bio raises US$ 60M

Protein-Engineering company Dren Bio raises US$ 60M

Dren Bio raises funds

San Carlos-based Dren Bio, Inc., a company developing powerful protein-engineering technologies for the depletion of cells, protein aggregates and other disease-causing agents, raised US$ 60M in Series A round.

The funding round was led by SR One and Taiho Ventures, LLC. Other participants include existing investors 8VC and Mission BioCapital and new investors, BVF Partners L.P., HBM Healthcare Investments and Alexandria Venture Investments.

The proceeds of the funding will be utilized to advance its two lead programs through early clinical development. Dren Bio’s programs are:

1.       DR-01, is an antibody-based therapy to treat rare leukemias and lymphomas as well as specific phenotypes of auto-immune disorders.

2.       DR-02 is an enhanced antibody-based platform to deplete cells and other disease-causing agents through a novel mechanism-of-action.

About Dren Bio

Dren Bio

Founded in 2019, Dren Bio is a San Carlos, California based biotechnology company. Dren’s lead programs are initially focused on hematologic neoplasms and solid cancers. The company is actively working in other areas including auto-immune disorders and diseases of protein aggregation. Dren’s team includes accomplished researchers and development personnel possessing strong collective industry experience.

“Our strategy is to select the appropriate immune cell type to induce potent and measurable therapeutic effects. The DR-01 program employs enhanced ADCC to eliminate pathologic cells in clearly defined patient populations. Our DR-02 platform engages a different immune effector cell to a target, resulting in immune stimulation and target depletion,” said Dr. Nenad Tomasevic, Dren’s Chief Executive Officer and co-founder. He has over twenty years of biotech development experience and previously co-founded Allakos, a clinical-stage, publicly-traded company nearing commercialization.

Dren had previously raised US$ 6M Seed Financing in 2019 led by 8VC with participation by Mission BioCapital. “We appreciate the support from Dren’s investors, who to date have committed over US$ 66M in funding for our programs. The goal of our Series A financing is to bring two drug candidates to the clinic,” said John Wesley, co-founder and Chief Financial Officer of Dren Bio.

What investors have to say

“We are impressed by Dren’s progress since the company’s inception in 2019,” said Rajeev Dadoo, Partner at SR One. “The DR-01 program has a clear development path to the clinic, focusing on diseases with no approved therapies.”

“In oncology, the DR-02 platform could enable direct and selective depletion of cancer cells accompanied by localized immune stimulation. The technology is also demonstrating the potential to eliminate agents in diverse diseases, including infections and protein aggregation. We are proud to recognize Dren’s potential at an early stage and support its success,” said Sakae Asanuma, President at Taiho Ventures.

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Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.

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