Dren Bio Announces $65 Million Series B Financing to Advance its Lead Asset into the Clinic and to Accelerate Development of New...
Jun 17, 2022
– Momentum continues to build for Dren Bio after successfully forming highly experienced senior leadership team and earlier this year announcing research collaboration and license deal with Pfizer
– The financing round was co-led by Aisling Capital and HBM Healthcare Investments with participation from new investors Pfizer, ArrowMark Partners and Revelation Partners, along with all current insiders
FOSTER CITY, CA – June 14, 2022 – Dren Bio, Inc. (“Dren Bio” or the “Company”) today announced the completion of their $65 million Series B financing, pushing the Company’s total capital received to date over $156 million. Following the financing, Dren Bio is well-capitalized to reach multiple key inflection points across both its drug discovery programs over the coming years.“We are truly grateful for all the support we continue to receive from such an outstanding syndicate of investors,” said Nenad Tomasevic, Ph.D., Chief Executive Officer of Dren Bio. “This financing comes at the perfect time as we prepare to initiate the first clinical trial evaluating DR-01, our lead asset, in patients with Large Granular Lymphocytic leukemia or cytotoxic lymphomas in mid-2022. In addition to advancing DR-01, the proceeds from this latest round will also enable us to further expand the development of our internal pipeline using our proprietary Targeted Myeloid Engager and Phagocytosis Platform.”The Series B financing was co-led by Aisling Capital and HBM Healthcare Investments, with participation by new marquee investors Pfizer, ArrowMark Partners and Revelation Partners. There was also significant participation in the round by Dren Bio’s existing insiders SR One, 8VC, Taiho Ventures, BVF PartneOKrs, Mission BioCapital and Alexandria Venture Investments, amongst others. In connection with the closing of the financing, the Company announced that Andrew Schiff, M.D., of Aisling Capital, and Chandra P. Leo, M.D., of HBM Partners, will join its Board of Directors.“We were thoroughly impressed by Dren Bio’s diversified R&D portfolio that encompasses two distinct therapeutic antibody programs including their attractive proprietary platform,” said Dr. Schiff, Managing Partner at Aisling Capital. “We are excited by the opportunity to support Dren Bio in progressing on their mission to deliver revolutionary therapies to patients with severe unmet needs, starting with difficult-to-treat cancers.”