Ollin Biosciences Raises $330 Million in Oversubscribed Series B Round for Eye Disease Trials

June 25, 2026 - 10:43

Innovent Biologics announced today that its partner, Ollin Biosciences, has closed an oversubscribed $330 million Series B financing. The round was co-led by new investor TCGX and founding investor ARCH Venture Partners.

The funds will support global Phase 3 development of IBI324, also known as OLN324, for the treatment of diabetic macular edema (DME) and wet age-related macular degeneration (wet AMD). Clinical studies are expected to begin in the second half of 2026.

Ollin Biosciences is advancing the candidate as a potential treatment for these two leading causes of vision loss. DME affects people with diabetes, causing fluid buildup in the macula, while wet AMD involves abnormal blood vessel growth under the retina. Both conditions can lead to severe vision impairment if untreated.

Innovent, a biopharmaceutical company focused on oncology, autoimmune, cardiovascular, metabolic, and ophthalmology diseases, highlighted the significance of the financing for moving the program forward. The oversubscribed round signals strong investor confidence in the therapy's potential.

The partnership between Innovent and Ollin combines Innovent's expertise in drug development and commercialization with Ollin's specialized focus on ophthalmology. The upcoming Phase 3 trials will evaluate the safety and efficacy of IBI324 in patients with DME and wet AMD, with the goal of bringing a new treatment option to those affected by these chronic eye conditions.