With positive feedback on a Phase 3 trial design, Ollin Biosciences has collected a $330 million series B to advance its VEGF/Ang2 antibody, which bested Genentech’s therapy in a head-to-head study.
After showing that its VEGF/Ang2 antibody is better than Genentech’s eye disease blockbuster Vabysmo, Ollin Biosciences has raised a whopping $330 million to support Phase 3 development for the asset.
The series B arrives as Ollin, which emerged from stealth less than a year ago, prepares to kick off late-stage testing for OLN324 by the end of the year, according to a Wednesday release.
OLN324 is being trialed in diabetic macular edema (DME) and wet age-related macular degeneration (AMD), both of which are common causes of vision loss. The therapy showed faster and greater improvements in anatomical outcomes and greater vision gains as compared to Genentech’s therapy in a Phase 1b head-to-head study called JADE. Ollin’s therapy was also associated with fewer retreatments.
The biotech quickly took these data to the FDA and European Medicines Agency, receiving positive feedback to design the Phase 3 test. The drug will enter a late stage trial for both DME and AMD in the second half of this year, according to the release.
Beyond its lead asset, Ollin will use any leftover funds to advance the TSHR/IGF-1R bispecific antibody OLN102 into the clinic for thyroid eye disease (TED) and Graves’ disease.
Ollin uncloaked in September 2025 with $100 million and a goal to develop novel bispecific therapies for eye diseases. OLN324 was at the center of that plan. The drug works by blocking VEGF to prevent the abnormal growth of blood vessels in the eye, while also targeting Ang2 to stabilize eye vasculature.
Beating Vabysmo was high on Ollin’s to do list even at launch, with the biotech testing a higher dose in an effort to better engage the target and extend treatment durability. The confidence came from early data out of China showing that the asset, which was discovered by Innovent Biologics, led to visual and anatomic improvements.
That was quickly confirmed in 2026 as Ollin revealed data from its testing in the U.S.
New investor TCGX co-led the oversubscribed series B round with founding investor ARCH Venture Partners. Supporting investors included a16z Bio+Health, Blackstone Multi-Asset Investing, Commodore Capital, RA Capital Management and more.
