Novartis and Dren Bio, a Foster, California-based bio/pharmaceutical company focused on antibody therapeutics for cancer, autoimmune, and other diseases, have entered into a strategic collaboration worth up to $3 billion ($150 million upfront, including an equity investment by Novartis in Dren Bio of $25 million, and $2.85 billion in milestone payments).  

The collaboration will focus on the discovery and development of therapeutic bispecific antibodies for cancer using Dren Bio’s proprietary Targeted Myeloid Engager and Phagocytosis Platform. Dren Bio and Novartis will collaborate to advance selected targeted myeloid engager programs in oncology through clinical candidate selection, at which point Novartis will assume full responsibility for all remaining development, manufacturing, regulatory, and commercialization activities. 

Under the agreement, Dren Bio will receive a total upfront consideration of $150 million from Novartis, which includes a $25-million equity investment in the company. Dren Bio is also eligible to receive up to $2.85 billion in additional cash payments upon achieving certain preclinical, clinical, regulatory, and commercial milestones, as well as tiered royalties on future net sales of any commercialized products resulting from the collaboration.  

Source: Dren Bio