Ollin Biosciences raised $330M in oversubscribed Series B financing to advance global Phase 3 trials of IBI324, a next‑generation VEGF/Ang2 bispecific antibody for diabetic macular edema and wet AMD, developed in partnership with Innovent Biologics.
Written By: Kirti Kumbhar, M. Pharm (QA)
Reviewed By: Pharmacally Editorial Team
San Francisco-based Ollin Biosciences has secured $330 million in oversubscribed Series B financing to accelerate global Phase 3 development of IBI324 (OLN324), a next-generation VEGF/Ang2 bispecific antibody for diabetic macular edema (DME) and wet age-related macular degeneration (wAMD).
The funding will primarily support registrational Phase 3 studies of IBI324, which is being developed through a partnership between Ollin Biosciences and Innovent Biologics. The companies also plan to advance an additional ophthalmology candidate into clinical development later this year.
About IBI324
IBI324 (OLN324) is a VEGF/Ang2 bispecific antibody originally discovered by Innovent Biologics. The therapy simultaneously blocks vascular endothelial growth factor (VEGF) and angiopoietin-2 (Ang2), two key drivers of retinal vascular diseases.
Compared with existing dual-pathway therapy faricimab (Vabysmo), IBI324 was engineered with substantially higher Ang2 potency, a higher molar dose than both faricimab and high-dose aflibercept (Eylea HD), and a smaller protein format. These features are intended to improve retinal drying while maintaining vision outcomes.
DME and wAMD are among the leading causes of vision loss worldwide and together represent a global retinal disease market estimated at approximately $15 billion annually. Although anti-VEGF therapies have transformed patient care, many patients continue to experience persistent retinal fluid and require frequent intravitreal injections, highlighting the need for more durable and effective treatment options.
JADE Trial Showed Promising Early Clinical Results
The financing follows encouraging results from the Phase 1b JADE trial (NCT07484074), a randomized, head-to-head proof-of-concept study that enrolled 164 patients with DME or wAMD.
The study compared IBI324 directly with faricimab (Vabysmo) and found that the investigational antibody produced faster and greater improvements in retinal anatomy across both disease populations. Patients receiving IBI324 also achieved numerically greater improvements in visual acuity than those treated with faricimab. While detailed statistical analyses were not disclosed in the financing announcement, the findings support further evaluation in pivotal clinical studies.
Global Phase 3 Program Planned for Late 2026
Following completion of an End-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA) and receipt of scientific advice from the European Medicines Agency (EMA), Ollin plans to begin global Phase 3 trials during the second half of 2026.
Through its partnership with Innovent Biologics, the registrational program will also include study sites in China and South Korea, expanding patient recruitment across major global markets.
Ollin Chief Executive Officer and co-founder Jason Ehrlich, MD, PhD, said the financing reflects investor confidence in the scientific rationale, clinical data, and commercial potential of IBI324. He noted that the company is now positioned to execute a global registrational program that could establish the therapy as a new treatment option for retinal vascular diseases.
Lei Qian, MD, PhD, Chief R&D Officer of General Biomedicine at Innovent Biologics, said the financing validates the differentiated clinical profile of IBI324 and supports continued collaboration to accelerate its global development.
Financing Supports Late-Stage Development
The Series B financing was co-led by TCGX and ARCH Venture Partners, with participation from leading global healthcare investors including a16z Bio+Health, Blackstone Multi-Asset Investing, CPP Investments, RA Capital Management, and other institutional investors.
Path Forward
With strong investor backing, positive proof-of-concept data, and alignment with both U.S. and European regulators, IBI324 has entered a critical stage of development. If Phase 3 results confirm early anatomical and functional benefits, IBI324 could redefine the treatment paradigm for DME and wAMD, offering a more durable solution in a $15 billion global market
Reference
About the Writer
Kirti Kumbhar (LinkedIn) is an M.Pharm graduate with experience in Quality Assurance at Lupin Limited and a strong interest in clinical research, regulatory affairs, and Trial Master File (TMF) management. She has developed knowledge of regulatory documentation, quality systems, compliance, and healthcare research through her professional experience. Passionate about clinical development and continuous learning, Kirti is committed to supporting high-quality healthcare documentation, regulatory excellence, and research-driven healthcare advancements.