Sanofi to acquire DR-0201, a clinical-stage program of HBM portfolio company Dren Bio, for upfront amount of USD 600 million, plus potential milestones

• Further validation of the pioneering science and innovation of the US-based biotech company;
• Transaction increases NAV per HBM share by CHF 8.70 (+3.6%); expected cash inflow of USD 50 million for HBM Healthcare Investments from the upfront amount.

HBM Healthcare Investments (SIX: HBMN) today announced that Dren Bio, a private portfolio company, and Sanofi have entered into a definitive agreement under which Sanofi has agreed to acquire DR-0201, a targeted bispecific myeloid cell engager (MCE) that has shown robust B-cell depletion in pre-clinical and early clinical studies.

DR-0201 engages specific myeloid cells to induce deep B-cell depletion, with potential applications in patients with refractory B-cell-mediated autoimmune diseases such as lupus, where significant unmet medical needs remain.

Under the terms of the merger agreement, Sanofi will acquire DR-0201 through the acquisition of the Dren Bio affiliate Dren-0201 for an upfront payment of $600 million and make additional payments totaling up to $1.3 billion upon achievement of certain development and launch milestones. The companies expect the transaction to close during Q2 2025.

Following the acquisition of Dren-0201, Dren Bio will continue to operate independently to advance its pipeline of antibody therapeutics for the treatment of cancer, autoimmune, and other serious diseases. HBM Healthcare Investments will continue to hold a stake of around 9 percent in Dren Bio.

Based on our assessment of the transaction terms (upfront amount plus discounted potential milestone payments), the net asset value per HBM share will increase by CHF 8.70 (+3.6%) with a cash inflow of approximately USD 50 million for HBM Healthcare Investments from the upfront amount.

About Dren Bio

Dren Bio (Foster City, CA, USA) is a privately held, clinical-stage biopharmaceutical company pioneering the discovery and development of novel antibody therapeutics that selectively deplete pathogenic cells and other disease-causing agents. For more information about Dren Bio and its current development pipeline, please visit http://www.drenbio.com/.