Ollin Biosciences Raises $330M Series B for Eye Disease Drug
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Ollin Biosciences, a clinical-stage biotech based in Austin, Texas, has announced an oversubscribed $330 million Series B financing to advance its lead treatment for vision-threatening diseases.
The round was co-led by new investor TCGX and founding investor ARCH Venture Partners. A wide syndicate of healthcare-focused crossover investors, sovereign wealth funds, and institutions joined, including a16z Bio+Health, Blackstone Multi-Asset Investing, Commodore Capital, Canada Pension Plan Investment Board, RA Capital Management, and accounts advised by T. Rowe Price Investment Management, along with continued investment from co-founding investors Mubadala Capital and Monograph Capital.
Established in 2023, Ollin develops therapies for diseases that threaten sight. Proceeds will support global Phase 3 development of OLN324, a next-generation VEGF/Ang2 bispecific antibody, with Phase 3 trials in diabetic macular edema and wet age-related macular degeneration set to begin in the second half of 2026.
The program has shown early promise. In a head-to-head Phase 1b study comparing OLN324 to faricimab, sold as Vabysmo, the company says OLN324 produced faster and greater anatomic improvements in both conditions, along with numerically greater vision gains.
The scale of the round underscores investor appetite for late-stage ophthalmology programs targeting large, established markets.