By Kunal Das and Sneha S K
June 24 (Reuters) – Texas-based biotech Ollin Biosciences said on Wednesday it has raised $330 million in its latest funding round to advance late-stage studies of its experimental eye disease drug.
• Ollin said the funds will support late-stage global studies of its drug, OLN324, to treat diabetic macular edema (DME) and wet age-related macular degeneration (AMD), two leading causes of vision loss.
• The funding will also help move OLN102, an experimental drug for thyroid eye disease and Graves’ disease, into human testing this year.
• The company plans to start the trials for OLN324 in the second half of 2026.
• The Series B funding round was oversubscribed and was co-led by TCGX and ARCH Venture Partners, with participation from investors including a16z Bio+Health, Blackstone Multi-Asset Investing, and T. Rowe Price Investment Management.
• Ollin did not disclose the valuation at which the funds were raised.
• The company has arrived at a “really compelling set of study designs” that support potential approval and also highlight potential for improved treatment outcomes, CEO Jason Ehrlich told Reuters.
• OLN324 is an antibody that targets two key disease signals to treat abnormal blood vessel growth and leakage in the eye.
• In a recent early-stage head-to-head study, the drug showed faster and greater improvements in eye structure and greater vision gains in both DME and wet AMD than Roche’s Vabysmo, Ollin said.
• Both drugs are being developed in collaboration with China-based biotech firms: OLN324 with Innovent Biologics and OLN102 with VelaVigo, the company said.
• Ollin launched with an initial $100 million financing led by ARCH Venture Partners, Mubadala Capital and Monograph Capital last year.
(Reporting by Kunal Das and Sneha S K in Bengaluru; Editing by Sahal Muhammed)
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