Dianthus Therapeutics is a clinical-stage biotech developing treatments for severe autoimmune diseases, with no approved products or revenue. The company's core focus is on the complement system — a part of the immune system that, when dysregulated, drives tissue damage in autoimmune conditions. Dianthus's lead candidate, claseprubart, is a monoclonal antibody that selectively inhibits C1s, a protein in the classical complement pathway. Claseprubart is designed for infrequent self-administered subcutaneous injection via a pre-filled pen, which Dianthus argues is a convenience advantage over approved therapies that typically require I.V. infusions in clinical settings. Dianthus is advancing claseprubart in three indications: generalized myasthenia gravis (gMG, a chronic disease causing muscle weakness), chronic inflammatory demyelinating polyneuropathy (CIDP, an autoimmune nerve disorder), and multifocal motor neuropathy (MMN, a rare motor neuropathy). Claseprubart is in Phase 3 for CIDP, heading toward Phase 3 for gMG, and in Phase 2 for MMN. Dianthus's second candidate, DNTH212, is a bifunctional fusion protein targeting two immune pathways relevant to diseases like lupus, and is in early Phase 1 testing. Dianthus has no commercial infrastructure, and if products are approved, intends to commercialize through internal build-out and partnerships. The company is funded by equity capital, and has licensed claseprubart rights in Greater China to Tenacia Biotechnology.