Dren Bio Announces Strategic Collaboration with Novartis To Develop Novel Targeted Myeloid Engagers For Cancer; Dren Bio To Receive Total Upfront Consideration Of $150M And Is Eligible To Receive Milestone Payments And Tiered Royalties

– Collaboration combines Dren's targeted cell depletion platform with Novartis research, development and commercial expertise to advance innovative therapies for cancer –

– Dren Bio to receive total upfront consideration of $150 million and is eligible to receive milestone payments and tiered royalties –

Dren Bio, Inc. ("Dren Bio" or the "Company"), a privately held, clinical-stage biopharmaceutical company developing antibody therapeutics for cancer, autoimmune, and other serious diseases, today announced that it has entered into a strategic collaboration with Novartis Pharma AG, a subsidiary of Novartis AG (NYSE:NVS). 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.