Ollin raises $330 million to fund late-stage eye disease drug trials

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 ROPC.S Vabysmo, Ollin said.

  • Both drugs are being developed in collaboration with China-based biotech firms: OLN324 with Innovent Biologics 1801.HK 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.



This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.