Sanofi Acquires Dren Bio's Program DR-0201 for $600 Million

Sanofi has agreed to acquire DR-0201 from Dren Bio, a portfolio company of HBM Healthcare Investments, for an upfront payment of $600 million. This program targets bispecific myeloid cell engagement, promising substantial B-cell depletion in autoimmune diseases like lupus, which face unmet medical needs. The acquisition agreement also entails up to $1.3 billion in additional payments contingent on achieving specific developmental milestones. The transaction is expected to finalize in the second quarter of 2025.

The acquisition will increase HBM Healthcare Investments' net asset value per share by CHF 8.70, marking a 3.6% rise. An anticipated cash inflow of $50 million is expected from this deal. While Dren-0201 will integrate with Sanofi, Dren Bio will retain its independence to continue its work on antibody therapeutics for various diseases.