Ollin Biosciences Announces Oversubscribed $330 Million Series B Financing to Advance Global Phase 3 Development of OLN324 in DME and Wet AMD; Studies Commencing in Second Half of 2026

Financing co-led by TCGX and ARCH Venture Partners with participation from a syndicate of premier healthcare-focused institutional investors

Proceeds will support global Phase 3 trials of OLN324, a potential best-in-class VEGF/Ang2 bispecific antibody addressing leading causes of vision loss in the $15 billion retina market

OLN324 demonstrated faster and greater retinal drying and numerically greater vision gains versus Vabysmo^® in a randomized head-to-head proof of concept trial, as reported earlier this year

AUSTIN, Texas--(BUSINESS WIRE)--Ollin Biosciences, Inc. (Ollin), a clinical-stage biotech advancing best-in-disease therapies for vision-threatening diseases, today announced an oversubscribed $330 million Series B financing. The financing round was co-led by new investor TCGX and founding investor ARCH Venture Partners, with participation from a syndicate of leading healthcare-focused crossover investors, sovereign wealth funds and other institutional investors new to Ollin, including a16z Bio+Health, Blackstone Multi-Asset Investing, Commodore Capital, Canada Pension Plan Investment Board (CPP Investments), RA Capital Management, accounts advised by T. Rowe Price Investment Management, Inc., and a leading sovereign wealth fund, alongside continued investment from other co-founding investors Mubadala Capital and Monograph Capital.

Proceeds from the Series B financing will support the global Phase 3 development of OLN324, a next-generation VEGF/Ang2 bispecific antibody, in diabetic macular edema (DME) and wet (neovascular) age-related macular degeneration (wAMD), as well as the advancement of OLN102, a novel TSHR/IGF-1R bispecific antibody for thyroid eye disease (TED) and Graves’ disease, into clinical development this year.

In the recently completed 164-patient, head-to-head, randomized, proof-of-concept JADE clinical study comparing OLN324 to faricimab (Vabysmo^®), OLN324 demonstrated meaningfully faster and greater improvements in retinal anatomy versus faricimab, in both DME and wAMD, as well as numerically greater vision gains.

Ollin has completed an End-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA) and has received scientific advice from the European Medicines Agency (EMA) on the Phase 3 program, and plans to initiate global Phase 3 trials of OLN324 in DME and wAMD in the second half of 2026.

“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.”

In connection with the Series B financing, Cariad Chester has joined Ollin’s Board of Directors, representing TCGX.

“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.”

About OLN324

Building on the clinical success of intravitreal VEGF/Ang2 inhibition, OLN324 is a next-generation VEGF/Ang2 bispecific antibody engineered with substantially higher Ang2 potency relative to faricimab, increased molar dosing relative to both faricimab and aflibercept (including Eylea HD^®), and a smaller protein format. VEGF and Ang2 are central drivers of retinal vascular diseases such as diabetic macular edema (DME) and wet (neovascular) age-related macular degeneration (wAMD), with Ang2 playing a key role in vascular instability, leakage, inflammation, and fibrosis. In the recently completed head-to-head Phase 1b JADE clinical study comparing OLN324 to faricimab (Vabysmo^®), OLN324 demonstrated meaningfully faster and greater anatomic outcomes in both DME and wAMD versus faricimab as well as numerically greater vision gains. Ollin plans to initiate global Phase 3 trials of OLN324 in DME and wAMD in the second half of 2026. OLN324 was discovered by and is being developed in collaboration with Innovent Biologics (HKEX: 01801; Innovent R&D code: IBI324).

About OLN102

OLN102, is a first-in-class, TSHR/IGF-1R bispecific antibody with potential best-in-disease safety and efficacy for thyroid eye disease (TED), as well as the underlying autoimmune condition of Graves’ disease. Both IGF-1R and TSHR are clinically-validated targets for TED, and the crosstalk between these two receptors is mechanistically important in the pathogenesis and clinical sequelae of TED. By inhibiting both receptors, OLN102 may offer TED patients improved safety and efficacy compared to existing medicines through more precise tissue targeting and a wider therapeutic index. Additionally, OLN102 has the potential to uniquely address the underlying autoimmune thyroid dysfunction (Graves’ disease) in TED patients. OLN102, discovered by and being developed in collaboration with VelaVigo, is expected to enter clinical development in 2026.

About Ollin Biosciences

Established in 2023, Ollin Biosciences™ is a clinical-stage biopharmaceutical company dedicated to acquiring and developing best-in-disease therapies for vision-threatening diseases. With a differentiated pipeline, world-class team, and strong investor syndicate, Ollin is redefining what’s possible in ophthalmology. For more information, please visit us at www.ollin.bio and follow us on LinkedIn and X.

Vabysmo^® is a registered trademark of Genentech, Inc.; Eylea^® and Eylea HD^® are registered trademarks of Regeneron Pharmaceuticals, Inc.