Dren Bio Announces Strategic Collaboration with Novartis Pharma AG
Slice of Healthcare Team
08/01/2024
Key Highlights
- Dren Bio partners with Novartis for bispecific antibody development.
- $150 million upfront consideration, including $25 million equity investment.
- Potential additional payments up to $2.85 billion.
- Focus on cancer therapy using Dren Bio's proprietary platform.
Source: Business Wire
Notable Quotes
“ Our agreement with Dren Bio is a promising opportunity to discover novel bispecific antibody therapies for cancer, building on our longstanding expertise in immuno-oncology science at Novartis. ”
Shiva Malek, Ph.D., Global Head of Oncology for Biomedical Research at Novartis
“ Combining the proven capabilities of Novartis in oncology drug development with Dren Bio’s novel platform could enable the advancement of important new therapies for patients. ”
Nenad Tomasevic, Ph.D., Chief Executive Officer at Dren Bio
“ This collaboration will benefit from Novartis’ impressive track record of developing novel medicines and help further expand the reach of our platform. ”
Amit Mehta, Ph.D., Chief Operating Officer and Chief Business Officer at Dren Bio
SoHC's Take
This strategic collaboration between Dren Bio and Novartis represents a significant milestone in the development of innovative cancer therapies. By leveraging Dren Bio’s advanced Targeted Myeloid Engager and Phagocytosis Platform, coupled with Novartis' extensive expertise in oncology, the partnership is well-positioned to yield breakthrough treatments for cancer patients. The substantial financial commitment and potential for additional milestone payments underscore the confidence both companies have in the therapeutic potential of their joint efforts. This collaboration not only advances the science of bispecific antibodies but also highlights the growing importance of strategic alliances in accelerating the development of next-generation therapies.
