Sanofi is continuing its immunology pipeline push with an agreement to acquire Dren Bio’s bispecific antibody DR-0201 in a deal whose value could rise to $1.9bn.
The deal for the clinical asset will be made through Sanofi’s acquisition of Dren Bio affiliate Dren-0201. The French company will pay $600m upfront, with milestone payments of $1.3bn.
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After Dren-0201 gets under Sanofi’s control, Dren Bio will continue to advance the rest of its pipeline independently. The deal is expected to close during Q2 2025.
Investor reaction to the deal was tepid, with shares in the Paris-listed Sanofi opening with a 0.3% deficit. Global stock markets are still recovering from the effects of US government tariffs, meaning current links between company activities and share prices are tenuous.
Sanofi will fund the transaction with cash resources – an indication the company is in a financially strong position considering it is also undertaking a $5.1bn share buyback initiative this year.
Sanofi has been spending big money recently to bolster its immunology presence. This includes a collaboration with Teva Pharmaceuticals, which included a $500m upfront payment in December 2023, for the co-development of chronic inflammatory disease treatment TEV-‘574. The company also agreed to a licensing deal worth up to $700m in June 2024 to use an immunology-centric small molecule drug discovery platform developed by Belharra Therapeutics.
Dren Bio’s DR-0201 is a bispecific myeloid cell engager (MCE), which is being evaluated in a Phase I trial (NCT06392477) for the treatment of relapsed or refractory B cell non-Hodgkin lymphoma. The drug works by trafficking myeloid cells to induce deep B cell depletion. While DR-0201 clinical data has not been disclosed, Sanofi said it has “shown deep and robust B cell depletion in non-clinical and clinical settings.”
Dren Bio’s lead candidate is DR-01, an antibody designed to deplete T cells, which are known to play a role in haematological and autoimmune diseases. The therapy, which is currently being investigated in leukaemia and cytotoxic lymphoma patients in a Phase II trial (NCT05475925), produced positive Phase I data.
For Sanofi, the acquisition of DR-0201 represents the continuation of a push into the immunology space. Historically known for its plethora of vaccines, the company has seen financial success from anti-inflammatory blockbuster Dupixent (dupilumab). The drug, which is co-marketed with Regeneron, generated sales of €3.5bn ($3.8bn) in 2025.
Commenting on the Dren Bio deal, Sanofi’s head of research and development, Houman Ashrafian, said: “This is yet another important step in Sanofi’s ambition to bring breakthrough medicines to patients, and further strengthens our robust pipeline focused on the immune system. Through our own research and strategic licensing and acquisitions, we continue to advance our goal of becoming the leader in immunology.”
Sanofi is in the process of honing its focus on innovative medicines and vaccines while transitioning away from consumer health offerings. The company is close to selling its $17bn consumer health business Opella.
