Drexel (8-14, 6-5 Colonial) went on a 17-6 run early - including seven points from Lee - to open a 26-14 lead. But Elon recovered with a 10-2 run just before the half and trailed 31-26 at intermission.
A 10-2 run from the Dragons midway through the second half, featuring a layup and jumper from Tavon Allen, turned a three-point game into a 49-38 lead for Drexel.
Elijah Bryant cut it to four with a 3-pointer with 2:15 left, but Drexel made 7 of 8 free throws down the stretch to hold off Elon.
Elon (11-13, 3-8) was led by Tanner Samson with 22 points. The Phoenix were just 8 of 16 from the line.