Dren Bio raises $350 million to advance rare blood cancer drug

Dren Bio announced an oversubscribed $350 million private financing on October 29, 2026, to advance dibotatug (DR-01), its investigational antibody for rare blood cancers.

The funding is intended to support late-stage clinical development, regulatory submission, and planned commercial preparations, as well as exploration of additional uses and the company’s wider pipeline.

Dibotatug targets CD94 and is designed to selectively deplete disease-associated cytotoxic cells while preserving the broader immune system. It is being studied in cytotoxic T-cell lymphoma and large granular lymphocytic leukemia, conditions described as having no approved therapies.

The round was co-led by Juvia Group and Lightspeed Venture Partners, with new and existing healthcare investors participating. The therapy remains investigational; the financing does not guarantee approval or a market launch.

Reports say the company is aiming for a potential launch by the end of 2027, though that timeline depends on clinical and regulatory progress.