Innovent's Partner Ollin Biosciences Announces Oversubscribed $330 Million Series B Financing to Advance Global Phase 3 Development of IBI324 (OLN324) in DME and Wet AMD; Studies Commencing in Second Half of 2026

Ollin Biosciences has successfully completed an oversubscribed $330 million Series B financing round, aimed at advancing the global Phase 3 development of its investigational therapy IBI324 (also known as OLN324) for retinal diseases. The financing, which closed on June 24, 2026, was co-led by TCGX and ARCH Venture Partners, with significant participation from a consortium of notable healthcare-focused institutional investors, including a16z Bio+Health, Blackstone Multi-Asset Investing, and the Canada Pension Plan Investment Board (CPP Investments), among others.

Ollin Biosciences is positioned within the biopharmaceutical sector, focusing on innovative treatments for retinal diseases, particularly diabetic macular edema (DME) and wet age-related macular degeneration (wAMD). IBI324 is a next-generation bispecific antibody targeting both VEGF and Ang2, which are critical drivers of retinal vascular diseases. The company has reported promising results from its recent head-to-head JADE clinical trial, which demonstrated that OLN324 provided faster and greater retinal drying and vision improvements compared to the currently marketed therapy, Vabysmo® (faricimab).

The strategic rationale behind this financing is to support the initiation of global Phase 3 trials for OLN324, which are anticipated to commence in the second half of 2026. These trials will not only cover the U.S. market but will also include regions in Asia, specifically China and South Korea, through Ollin's partnership with Innovent Biologics. The substantial funding will facilitate the execution of a registrational program designed to maximize the clinical and commercial potential of OLN324, thereby positioning Ollin for significant growth in a market projected to exceed $15 billion.

The biopharmaceutical sector, particularly in the ophthalmology space, is witnessing a surge in investment as companies seek to address unmet medical needs in retinal diseases. The confidence shown by leading investors in this financing round underscores the potential of OLN324 to become a best-in-class therapy. With the increasing prevalence of retinal diseases globally, advancements in treatment options are critical for improving patient outcomes and addressing the significant economic burden associated with vision loss.

In conclusion, the successful completion of this $330 million financing round positions Ollin Biosciences to make substantial strides in the biopharmaceutical landscape. As the company prepares to enter Phase 3 clinical trials, the implications of this investment extend beyond Ollin, signaling a robust interest in innovative therapies within the ophthalmology sector. The ongoing support from high-profile investors reflects a broader trend of confidence in the potential for transformative treatments that could reshape the standard of care for retinal diseases.