Six months after reporting early clinical data that outperformed Genentech’s blockbuster eye therapy Vabysmo, Ollin Biosciences has secured $330 million in series B financing to advance its lead ophthalmology candidate through an ambitious late-stage development program.
The financing round was led by TCGX and ARCH Venture Partners, with participation from Andreessen Horowitz and Blackstone Multi-Asset Investing among several other investors.
According to co-founder and Chief Executive Officer Jason Ehrlich, the sizable funding was necessary to support multiple phase 3 studies for the company’s VEGF/Ang2 bispecific antibody, OLN324.
Ollin plans to initiate at least three pivotal trials later this year. Two of those studies will evaluate OLN324 in diabetic macular edema, the program’s lead indication, where the drug previously outperformed Vabysmo in a phase 1b study. Another phase 3 trial will focus on wet age-related macular degeneration, a setting in which OLN324 and Vabysmo delivered more comparable results in earlier testing.
Ehrlich said the company is highly encouraged by both the level of investor interest and the caliber of the syndicate assembled to support the next stage of development.
Cariad Chester, managing partner at TCGX and a newly appointed member of Ollin’s board of directors, said the company’s pipeline has the potential to meaningfully reshape treatment approaches for serious vision-threatening conditions. She added that OLN324’s clinical profile positions it as a potential best-in-class therapy targeting one of ophthalmology’s largest unmet needs.
Investor enthusiasm largely reflects the possibility that OLN324 could challenge Vabysmo’s leadership position in the retinal disease market. Ehrlich is particularly familiar with that competitive landscape, having spent roughly a decade at Genentech helping guide the development of both Vabysmo and the earlier retinal therapy Lucentis.
He noted that Vabysmo’s stronger disease-control capabilities enabled it to surpass Regeneron’s Eylea, which itself had previously improved upon the standard established by Lucentis. With Vabysmo and Eylea generating approximately $5.3 billion and $4.4 billion in sales during 2025, respectively, Ehrlich believes there is significant opportunity for OLN324 within the broader global retinal disease market, which he estimates at roughly $15 billion.
Beyond OLN324, Ollin is also advancing OLN102, a prospective first-in-class treatment for thyroid eye disease that the company aims to move into phase 1 testing later this year.
The candidate is being developed as a potential competitor to Amgen’s Tepezza, currently the only approved therapy for thyroid eye disease. Unlike Tepezza, which targets the insulin-like growth factor 1 receptor (IGF-1R), OLN102 is engineered to simultaneously inhibit both IGF-1R and the thyroid-stimulating hormone receptor (TSHR).
Ehrlich said growing scientific evidence points to an important biological interaction between the two receptors in the development of thyroid eye disease. As a result, the company believes dual-targeting may provide unique clinical benefits beyond those achieved with existing therapies.
Both of Ollin’s lead programs originated from partnerships with Chinese biotechnology companies. Ehrlich said the company remains actively engaged in identifying additional assets and technologies from around the world that could strengthen its expanding pipeline, adding that he expects further additions in the years ahead.
Ollin has secured $330 million in new funding to advance its lead eye disease therapy into a Phase 3 clinical trial. The investment provides Ollin with the financial resources needed to support late-stage development, regulatory preparations, and future commercialization efforts. The financing also reflects strong investor confidence in the company’s ophthalmology pipeline.
Ollin Accelerates Late-Stage Clinical Development
The latest funding round enables Ollin to move its promising eye disease candidate into Phase 3 testing, a critical stage in the clinical development process. Successful completion of the trial could bring the therapy closer to regulatory review and potential market approval.
Strengthening the Ophthalmology Pipeline
For Ollin, the funding represents an opportunity to expand its presence in ophthalmology by focusing on treatments for patients with significant unmet medical needs. The company aims to develop innovative therapies that improve vision outcomes and quality of life for individuals living with eye diseases.
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