According to the terms of the deal, which was made with Novartis’ subsidiary Novartis Pharma, Dren Bio will deploy its technology to discover and develop bispecific antibodies for the treatment of cancer. Dren will develop candidates up to the selection of a clinical candidate, and Novartis would then pick up the baton for clinical development and commercialization.
In return, Dren Bio will bag $150 million upfront, including a $25 equity investment, and up to $2.85 billion dependent on the partners hitting undisclosed development and commercial milestones in addition to royalties.
Dren Bio uses its Targeted Myeloid Engager and Phagocytosis Platform to develop bispecific antibodies that bind to two different targets. One binds to a signaling molecule on myeloid cells including monocytes, macrophages, and dendritic cells, and another to a target disease antigen. The antibody triggers the myeloid cells to destroy cancer cells when they are near to the myeloid cells, potentially leading to fewer side effects than other technologies including T-cell engagers and antibody drug conjugates.
“Dren Bio’s Targeted Myeloid Engager and Phagocytosis Platform is designed to deplete various disease-causing agents and has led to a rich and diverse pipeline,” said Amit Mehta, Chief Operating Officer and Chief Business Officer of Dren Bio, in a public statement. “This collaboration will benefit from Novartis’ impressive track record of developing novel medicines and help further expand the reach of our platform.”
Bispecifics in the pipeline
The global market for bispecific antibodies is set to skyrocket from $5.7 billion in 2022 to $110.3 billion by 2030, growing by 44% per year. The huge growth is due to increasing cases of chronic diseases in the population such as cancer, autoimmune disorders, and infectious diseases, in addition to growing demand for targeted therapies.
Dren Bio’s lead candidate treatment DR-01 is an antibody drug in phase 2 testing for the treatment of cytotoxic lymphomas, rare and aggressive cancers where T cells grow out of control. The antibody is built to block CD94, a protein on the surface of CD8 T cells and deplete them. The company is also expanding its research into the candidate’s potential benefits in autoimmune diseases, where T cells attack healthy tissue.
Meanwhile, Dren Bio’s lead bispecific antibody DR-0201 is currently in phase 1 testing for the treatment of B-cell non-Hodgkin lymphoma. The company is also working on undisclosed projects at a preclinical stage in the fields of oncology, immunology, and neurology, and is exploring the development of radioligand therapies and CAR-Ts.
Dren Bio launched a collaboration deal with Pfizer in 2022 worth over $1 billion to co-develop bispecific antibodies. The company followed up in the same year with a $65 million Series B round.
Novartis has added bispecific antibodies to its pipeline in the past, paying $150 million upfront for rights to programs in development by Xencor in 2016. However, Novartis dropped the rights for two of the programs in 2019 and 2021 respectively.