Austin, Texas — Ollin Biosciences Inc. has raised $330 million in an oversubscribed Series B financing to support global Phase 3 trials of OLN324 for diabetic macular edema and wet age-related macular degeneration.
The financing was co-led by TCGX and ARCH Venture Partners. Participants included a16z Bio+Health, Blackstone Multi-Asset Investing, Commodore Capital, Canada Pension Plan Investment Board, RA Capital Management and accounts advised by T. Rowe Price Investment Management.
Existing investors Mubadala Capital and Monograph Capital also participated.
Ollin plans to begin global Phase 3 trials of OLN324 in diabetic macular edema and wet age-related macular degeneration during the second half of 2026.
The funding will also support the advancement of OLN102, an investigational TSHR/IGF-1R bispecific antibody for thyroid eye disease and Graves’ disease, into clinical development.
OLN324 is an investigational VEGF/Ang2 bispecific antibody designed to treat retinal vascular diseases. Ollin said the therapy produced faster and greater improvements in retinal anatomy than faricimab, marketed as Vabysmo, in the randomized JADE proof-of-concept study.
The 164-patient study evaluated OLN324 against faricimab in patients with diabetic macular edema and wet age-related macular degeneration. OLN324 also produced numerically greater improvements in vision, according to the company.
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 regarding its Phase 3 program.
“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,” said Jason Ehrlich, M.D., Ph.D., Co-founder and Chief Executive Officer of Ollin Biosciences. “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.”
Cariad Chester, managing partner of TCGX, joined Ollin’s board of directors in connection with the financing.
“Ollin is advancing product candidates that have the potential to significantly change the treatment paradigm in vision-threatening diseases,” said Cariad Chester, Managing Partner of TCGX. “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.”
OLN324 was engineered with greater Ang2 potency than faricimab, a higher molar dose than faricimab and aflibercept, and a smaller protein format.
VEGF and Ang2 contribute to retinal vascular diseases by promoting vascular instability, leakage, inflammation and fibrosis.
OLN324 was discovered by and is being developed in collaboration with Innovent Biologics.
