Ollin Biosciences Emerges from Stealth with $100M to Advance Vision Therapies

Ollin Biosciences launched in September 2025 with $100 million in Series A funding and a straightforward mission: to advance therapies for vision-threatening diseases that already have a proven scientific foundation. Instead of building from the ground up, the company specializes in in-licensing validated drug candidates that have demonstrated early clinical or regulatory traction.

It is a model designed for speed and precision. In a field where patients often wait years for incremental progress, Ollin is trying to move faster—scaling therapies that work, improving them where possible, and pushing them through development with focus rather than speculation.

OLN324: Raising the Bar in Retinal Disease

Ollin’s lead program, OLN324, targets wet age-related macular degeneration (wAMD) and diabetic macular edema (DME), two of the most common causes of blindness in aging and working-age populations.

Licensed from China-based Innovent Biologics, OLN324 is a high-potency VEGF/Ang2 bispecific antibody designed for greater target coverage through higher molar dosing. With roughly one-third the molecular weight of faricimab (Vabysmo), the drug can be delivered at higher concentrations, potentially offering superior disease control and longer-lasting results between injections.

Preclinical and translational work rely on ophthalmology’s most advanced imaging and analytical platforms. Researchers use optical coherence tomography (OCT) and fluorescein angiography to monitor retinal thickness and vascular leakage, while ELISA assays, surface plasmon resonance, and capillary electrophoresis systems characterize the antibody’s binding properties and potency. These tools have evolved from earlier generations of bench assays, allowing precise comparison between emerging biologics like OLN324 and established drugs such as faricimab.

The company’s JADE study, a randomized U.S.-based Phase 1b proof-of-concept trial, enrolled over 150 patients with wAMD or DME. The trial directly compares OLN324 and faricimab head-to-head—a rare, bold move for a biotech at this stage. Topline results are expected in Q1 2026, data that could redefine the durability standard in anti-VEGF treatment.

Translational Tools and Trial Design

Ophthalmology has quietly become one of biotech’s most data-driven therapeutic areas. Clinical progress depends not only on a drug’s mechanism, but also on the precision of the tools used to measure its effects.

For programs like OLN324, imaging and analytics are central to validation. Trials rely on optical coherence tomography (OCT), fluorescein angiography, and fundus photography to visualize retinal anatomy at micrometer resolution. These instruments detect fluid buildup, vessel leakage, and structural changes that reflect how well a therapy is working long before a patient notices differences in vision.

Increasingly, trial endpoints are enhanced by AI-assisted image analysis and automated grading software that standardize how retinal data are interpreted across global study sites. Paired with centralized cloud databases, these systems reduce human variability and speed up data collection. The result is a tighter feedback loop between clinical teams, data scientists, and regulators—one that allows a company like Ollin to move from Phase 1 results to pivotal trial design with fewer blind spots.

OLN102: Tackling Thyroid Eye Disease

Ollin’s second program, OLN102, takes aim at thyroid eye disease (TED), a debilitating condition that affects up to half of people with Graves’ disease. The therapy is designed to block two signaling pathways at once, targeting both the thyroid stimulating hormone receptor (TSHR) and insulin-like growth factor 1 receptor (IGF-1R).

This dual inhibition could prove meaningful. Current standard of care, Tepezza (teprotumumab), acts only on IGF-1R. By hitting both receptors simultaneously, OLN102 may deliver stronger disease control while limiting systemic side effects that stem from overactive immune and endocrine signaling.

The research behind the program depends on a mix of receptor-binding assays, cell-based functional studies, and high-content imaging to measure inflammation, fibroblast activation, and orbital tissue remodeling. Protein engineers use chromatography systems, bioreactors, and mass spectrometry to optimize the bispecific antibody’s structure and verify that it maintains binding strength for both targets. These capabilities make it possible to validate complex biologics like OLN102 before advancing to human trials.

Ollin licensed the molecule from VelaVigo, a China-based biotech, and plans to begin clinical development in 2026. The program will test whether targeting both TED and the underlying Graves’ disease can deliver results that surpass single-pathway therapies.

Leadership & Strategy

At the helm is Jason Ehrlich, M.D., Ph.D., who brings deep ophthalmology experience from his time at Genentech, where he helped guide the development of faricimab. That background gives Ollin a practical advantage: Ehrlich knows both the science behind anti-VEGF and Ang2 targeting and the commercial dynamics that define the vision-care market.

His strategy is deliberate rather than speculative. Each in-licensed molecule must come with strong biological validation, a clear regulatory path, and room for differentiation in efficacy or durability. By focusing on assets that have already cleared early risk, Ollin can direct its resources toward clinical execution rather than exploratory discovery.

Internally, the company operates like a precision workshop. Its R&D teams work in facilities equipped with automated bioprocessing systems, chromatography suites, and cell culture automation for reproducible antibody production. Data from these experiments feed directly into statistical modeling and clinical simulation software, helping the team anticipate regulatory questions before they arise.

It is a streamlined approach to biotech building—one that combines experienced leadership, validated science, and modern laboratory infrastructure to move fast without losing rigor.

Market Opportunity

The global ophthalmology market is projected to exceed $72 billion by 2034, driven by an aging population and rising prevalence of metabolic disorders like diabetes. Yet even with multiple approved therapies, significant gaps remain in treatment durability, accessibility, and patient experience.

For conditions such as wet AMD and diabetic macular edema, current anti-VEGF treatments often require frequent injections—sometimes as often as every four to eight weeks. That burden not only limits adherence but also adds cost and complexity to patient care. If OLN324 can maintain efficacy with fewer injections, it could meet one of ophthalmology’s clearest unmet needs.

The same logic applies to thyroid eye disease, where existing therapies are effective but expensive and logistically challenging. A dual-target biologic that delivers longer-lasting control could quickly gain traction among clinicians looking for more sustainable treatment options.

Operationally, success in this market depends on clinical precision and manufacturing readiness. Biotechs like Ollin rely on formulation and fill-finish systems, cold-chain infrastructure, and stability-testing equipment to ensure biologic quality through every stage of production and delivery. Those capabilities, combined with strong capital backing, put the company in a position to scale quickly if its data deliver.

How the Work Gets Done

Developing next-generation biologics for eye disease requires a specialized ecosystem of tools, facilities, and expertise. Much of Ollin’s research depends on access to high-end imaging and analytical instrumentation that can be prohibitively expensive to own outright.

To stay efficient, the company operates within a network of shared research labs, academic partners, and specialized manufacturing facilities that provide access to bioreactors, chromatography systems, and fill-finish suites for biologic formulation. Early-stage studies often take place in core facilities equipped with cell culture automation platforms, mass spectrometers, and spectrophotometers used for antibody validation.

Ollin’s model reflects a broader trend in modern biotech: using partnerships and flexible equipment access to scale sophisticated R&D without carrying the full capital burden. It’s a practical way to focus resources on the science that matters most—turning strong data into real therapies for patients who need them.

Looking Ahead

Ollin Biosciences is not trying to reinvent ophthalmology. It is trying to make it better—faster, more durable, and more precise. The company’s two lead programs reflect that philosophy: take proven mechanisms, improve on them with smarter engineering, and test them in ways that stand up to direct comparison.

OLN324 could redefine how anti-VEGF and Ang2 therapies are measured if it delivers longer intervals between injections without compromising outcomes. OLN102, with its dual-pathway inhibition, could extend the reach of biologics in endocrine and orbital diseases that have seen little innovation.

In both cases, the company’s focus is execution. Its programs are backed by robust lab infrastructure, sophisticated imaging and analytical tools, and leadership that understands both the clinical science and the business of bringing vision therapies to market.

If the upcoming trial results validate Ollin’s approach, the company could emerge as a serious contender in ophthalmology’s next chapter—a field defined not just by invention, but by iteration done exceptionally well.