Ollin Biosciences announced that it raised an oversubscribed $330 million Series B financing round. The round was co-led by new investor TCGX and founding investor ARCH Venture Partners. Participants included a16z Bio+Health, Blackstone Multi-Asset Investing, Commodore Capital, Canada Pension Plan Investment Board, RA Capital Management, accounts advised by T. Rowe Price Investment Management, a leading sovereign wealth fund, Mubadala Capital, and Monograph Capital.
Ollin Biosciences is a clinical-stage biotechnology company developing therapies for vision-threatening diseases. The company plans to use the funding to support global Phase 3 development of OLN324 in diabetic macular edema and wet age-related macular degeneration.
OLN324 is a next-generation VEGF/Ang2 bispecific antibody being developed as a potential best-in-class therapy for retinal vascular diseases. The company said proceeds will also support the advancement of OLN102, a novel TSHR/IGF-1R bispecific antibody for thyroid eye disease and Graves’ disease, into clinical development this year.
The funding follows the completion of Ollin’s 164-patient JADE clinical study, a randomized proof-of-concept trial comparing OLN324 to faricimab. In the study, OLN324 demonstrated meaningfully faster and greater retinal anatomy improvements versus faricimab in both diabetic macular edema and wet age-related macular degeneration, along with numerically greater vision gains.
Ollin has completed an End-of-Phase 2 meeting with the U.S. Food and Drug Administration and received scientific advice from the European Medicines Agency on the Phase 3 program. The company plans to begin global Phase 3 trials of OLN324 in diabetic macular edema and wet age-related macular degeneration in the second half of 2026.
OLN324 is engineered with higher Ang2 potency relative to faricimab, increased molar dosing relative to faricimab and aflibercept, and a smaller protein format. VEGF and Ang2 are central drivers of retinal vascular diseases, with Ang2 playing an important role in vascular instability, leakage, inflammation, and fibrosis.
OLN324 was discovered by and is being developed in collaboration with Innovent Biologics.
Ollin’s second program, OLN102, is a first-in-class TSHR/IGF-1R bispecific antibody being developed for thyroid eye disease and Graves’ disease. The company said OLN102 may offer improved safety and efficacy through more precise tissue targeting and a wider therapeutic index while also potentially addressing the underlying autoimmune thyroid dysfunction associated with Graves’ disease.
OLN102 was discovered by and is being developed in collaboration with VelaVigo. Ollin expects the program to enter clinical development in 2026.
In connection with the Series B financing, Cariad Chester, Managing Partner of TCGX, has joined Ollin’s Board of Directors.
Founded in 2023, Ollin Biosciences is focused on acquiring and developing best-in-disease therapies for ophthalmology and vision-threatening diseases.
KEY QUOTES:
“We founded Ollin to challenge the status quo in ophthalmology. We are delighted to welcome a premier syndicate of new and existing investors who share our vision of advancing OLN324 as a potential new standard of care in retinal vascular disease. Their support reflects confidence in the strength of our scientific rationale and clinical data, the significant commercial opportunity in the $15 billion retina market, and the differentiated clinical profile we believe OLN324 can offer physicians and patients.”
“Following positive randomized clinical data and constructive feedback from both FDA and EMA, we believe OLN324 is well positioned to enter global Phase 3 development. This financing provides the resources to execute a registrational program designed to maximize the clinical and commercial potential of OLN324 while positioning Ollin for its next phase of growth as a company.”
Jason Ehrlich, M.D., Ph.D., Co-Founder and CEO of Ollin Biosciences
“Ollin is advancing product candidates that have the potential to significantly change the treatment paradigm in vision-threatening diseases. OLN324 has been thoughtfully designed through the optimization of its molecular size, potency, and molar dose. In a randomized, head-to-head study, OLN324 generated compelling clinical data that we believe positions OLN324 as a best-in-class therapy for one of the largest and most important unmet medical needs in ophthalmology. We are pleased to support Ollin and this experienced leadership team as the company enters this pivotal phase of registrational studies for OLN324.”
Cariad Chester, Managing Partner of TCGX
