STAT+: Ophthalmology venture grabs investors’ attention, raises $330 million

Ollin Biosciences announced a $330 million Series B funding round on May 22, 2024, to advance its treatments for eye diseases. The company is preparing to initiate a Phase 3 clinical trial for a therapy targeting both diabetic macular edema and wet age-related macular degeneration, conditions that impact millions in the U.S. and can result in vision loss. This funding round was co-led by TCGX and ARCH Venture Partners, attracting investment from established biotech firms, a pension fund, and crossover investors. The $330 million raised represents one of the largest Series B funding rounds for a biotech company in the past two years. The investment will support Ollin Biosciences through its upcoming late-stage testing and potential commercialization efforts for its novel therapies.