Ollin Biosciences, a clinical-stage biopharmaceutical company focused on vision-threatening eye diseases, has raised $330 million in Series B funding co-led by TCGX and ARCH Venture Partners. The company acquires and develops next-generation bispecific antibodies, with lead candidate OLN324 targeting diabetic macular edema and wet age-related macular degeneration. The capital will advance global Phase 3 trials for OLN324 starting in the second half of 2026.
Head-to-Head Data Challenges Market Leader
The timing follows positive Phase 1b results where OLN324 outperformed faricimab (Vabysmo) in a randomized head-to-head study of 164 patients. Kodiak Sciences raised $184 million via public offering in December 2025. Belite Bio secured $275 million in August 2025. Ollin's approach of engineering higher Ang2 potency and smaller protein format addresses the need for faster retinal drying and fewer retreatments.
DME and wAMD Drive Retina Market
Diabetic macular edema affects over 750,000 people in the U.S. and represents the most common cause of vision loss among working-age adults. The broader ophthalmic drugs market stands at $44.7 billion in 2026 and is projected to reach $79.4 billion by 2033. Current therapies often require frequent injections and leave substantial unmet need in anatomic outcomes.
OLN324 Engineered for Superior Outcomes
OLN324 is a VEGF/Ang2 bispecific antibody developed in collaboration with Innovent Biologics. In the JADE trial, nearly 90 percent of DME patients on OLN324 achieved absence of disease at 12 weeks versus 57 percent on faricimab, with numerically greater vision gains and zero intraocular inflammation. As CEO Jason Ehrlich noted in company materials, the data position OLN324 as a potential first-line option.
Top-Tier Syndicate Validates Pipeline
The oversubscribed round drew participation from a16z Bio+Health, Blackstone, CPP Investments, RA Capital, and T. Rowe Price alongside the co-leads. TCGX's Cariad Chester joined the board, signaling strategic alignment for global development. The funding builds on a $100 million Series A closed in September 2025, bringing total capital to $430 million.
Bispecific Wave Reshapes Ophthalmology
Roche/Genentech's Vabysmo generated roughly $5 billion in 2025, validating the VEGF/Ang2 mechanism. Merck acquired EyeBio for up to $3 billion in 2024. The wet AMD market alone is projected to grow from $10.6 billion in 2025 to $16.7 billion by 2032. Ollin's second program, OLN102, targets thyroid eye disease with a first-in-class TSHR/IGF-1R bispecific.
Phase 3 and Pipeline Acceleration Ahead
With FDA End-of-Phase 2 alignment secured, Ollin plans global Phase 3 studies for OLN324 in DME and wet AMD. The company also intends to advance OLN102 into clinical development in 2026. Deployments of capital will support manufacturing scale-up and additional regulatory interactions in the U.S. and Europe.