Key Takeaways

  • Ollin Biosciences secured an oversubscribed $330 million Series B financing to support its ophthalmology pipeline
  • The company plans to initiate global phase 3 trials of OLN324 in DME and wet AMD in the second half of 2026
  • OLN102, a bispecific antibody targeting thyroid eye disease and Graves’ disease, is expected to enter clinical development later this year

Ollin Biosciences has closed an oversubscribed $330 million Series B financing round that will support late-stage development of its lead ophthalmology candidate, OLN324, and advance a second program targeting thyroid eye disease (TED) into the clinic.

According to the company, proceeds from the financing will fund global phase 3 development of OLN324, a VEGF/Ang2 bispecific antibody being developed for diabetic macular edema (DME) and wet age-related macular degeneration (AMD), as well as support the advancement of OLN102, a TSHR/IGF-1R bispecific antibody for TED and Graves’ disease, into clinical development later this year.

The funding follows completion of the phase 2 JADE study, a 164-patient randomized, head-to-head proof-of-concept trial comparing OLN324 with faricimab (Vabysmo). Ollin reported that OLN324 demonstrated faster and greater improvements in retinal anatomy than faricimab in both DME and wet AMD, along with numerically greater visual acuity gains.

The company also announced that it has completed an end-of-phase 2 meeting with the FDA and received scientific advice from the European Medicines Agency (EMA) regarding its phase 3 development plans. Global phase 3 trials in DME and wet AMD are expected to begin during the second half of 2026.

“We founded Ollin to challenge the status quo in ophthalmology,” said Jason Ehrlich, MD, PhD, co-founder and chief executive officer of Ollin Biosciences, in a company statement. “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.”

Dr. Ehrlich added that the financing is intended to support a registrational program designed to maximize both the clinical and commercial potential of OLN324 while positioning the company for its next stage of growth.

The financing was co-led by new investor TCGX and founding investor ARCH Venture Partners. Additional participation came from a group of healthcare-focused crossover investors, sovereign wealth funds, and institutional investors, including 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, and a sovereign wealth fund. Existing investors Mubadala Capital and Monograph Capital also participated.

In conjunction with the financing, Cariad Chester, managing partner of TCGX, joined Ollin’s board of directors.