Major Series B Funding Fuels Phase 3 Advancement

Ollin Bioscience has successfully completed a $330 million Series B funding round. This financing was co-led by ARCH Venture Partners, the company's founding investor, and TCGX, with significant participation from global institutional investors such as T. Rowe Price and Blackstone. The funds will be used to fully support the global Phase 3 clinical trial of OLN324, its lead pipeline asset, which is expected to commence in the second half of this year. This represents a significant vote of confidence in the ophthalmology sector and its innovative assets, particularly in the context of the currently challenging global biotech venture capital market.

Superior Performance Compared to Vabysmo

OLN324, Ollin Bioscience's key candidate, is a next-generation bispecific antibody targeting both vascular endothelial growth factor-A (VEGF-A) and angiopoietin-2 (Ang2). In a Phase 1b trial (JADE study), OLN324 demonstrated superior and faster retinal drying effects compared to Vabysmo (Roche), a blockbuster ophthalmic treatment, in patients with diabetic macular edema (DME). Furthermore, in patients with wet age-related macular degeneration (wAMD), OLN324 showed comparable or better retinal drying and visual acuity improvement, demonstrating its strong competitive potential. OLN324 is designed with a smaller molecular structure (~41 kDa) than existing treatments, which allows for better penetration into the retinal tissue and enables higher doses, potentially improving patient convenience.

Global Biotech Ecosystem Collaboration

OLN324 was originally developed by Innovent Biologics (HKG:1801), a leading Chinese biopharmaceutical company, and subsequently licensed to Ollin Bioscience. Ollin paid Innovent an upfront payment and equity, and will provide milestone payments and royalties on net sales based on future development and commercialization progress. This exemplifies a successful cross-border biotech business model, where Asian companies leverage their strong research capabilities and partner with Western companies that have access to capital and global clinical networks to maximize commercial value. The two companies are working closely together to accelerate global clinical development and proactively manage the risks associated with drug development.

Potential to Disrupt the Multi-Billion Dollar Ophthalmology Market

The global market for wAMD treatments is currently valued at approximately $10 billion to $12 billion annually, and the DME market is also substantial, at $3.3 billion to $5.8 billion. While Roche's Vabysmo has surpassed $5 billion in annual sales and is challenging Regeneron's Eylea's dominance, the entry of Eylea biosimilars is intensifying market competition. In this context, OLN324, which is entering Phase 3 trials, is poised to become a major competitor to Vabysmo and a potential game-changer in the ophthalmology market. It is expected to significantly improve the quality of life for patients by offering longer dosing intervals and more effective treatment options.