Ollin Biosciences has completed a $330m Series B financing round to support the global Phase III development of its lead candidate OLN324 for the treatment of diabetic macular oedema (DME) and wet (neovascular) age-related macular degeneration (wAMD).
The funding round was oversubscribed and was co-led by new investor TCGX and founding investor ARCH Venture Partners.
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Other participants included Blackstone Multi-Asset Investing, Canada Pension Plan Investment Board, Monograph Capital, Mubadala Capital, and RA Capital Management.
Ollin intends to use the proceeds to launch global Phase III trials of OLN324 in DME and wAMD in the second half of 2026.
The financing will also support the advancement of OLN102, a thyroid-stimulating hormone recepto/insulin-like growth factor 1 receptor (TSHR/IGF-1R) bispecific antibody for thyroid eye and Graves’ diseases, into clinical development later this year.
Being developed with VelaVigo, OLN102 is expected to enter clinical development in 2026.
OLN324, a vascular endothelial growth factor/angiopoietin-2 VEGF/Ang2 bispecific antibody, was compared to faricimab (Vabysmo) in a 164-patient, head-to-head, randomised, proof-of-concept JADE clinical study.
The study showed OLN324 produced faster and greater improvements in retinal anatomy than faricimab in both DME and wAMD, as well as numerically greater gains in vision.
The company has completed an End-of-Phase II meeting with the US Food and Drug Administration (FDA) and obtained scientific advice from the European Medicines Agency regarding the Phase III programme.
OLN324 was discovered and is being developed in collaboration with Innovent Biologics.
Ollin Biosciences co-founder and CEO Jason Ehrlich said: “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 $15bn retina market, and the differentiated clinical profile we believe OLN324 can offer physicians and patients.”
Following the financing, Cariad Chester has joined Ollin’s board of directors as a representative of TCGX.
