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
PR Newswire
SAN FRANCISCO and SUZHOU, China, June 24, 2026
Financing co-led by TCGX and ARCH Venture Partners with participation from a syndicate of premier healthcare-focused institutional investorsProceeds will support global Phase 3 trials of IBI324 (Ollin R&D code: OLN324), a potential best-in-class VEGF/Ang2 bispecific antibody, in $15 billion retina market addressing leading causes of vision lossOLN324 demonstrated faster and greater retinal drying and numerically greater vision gains versus Vabysmo® in a randomized head-to-head proof of concept JADE clinical trial, as reported earlier this yearSAN FRANCISCO and SUZHOU, China, June 24, 2026 /PRNewswire/ -- Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures, and commercializes high-quality medicines for the treatment of oncology, autoimmune, cardiovascular and metabolic, ophthalmology and other major disease areas, today announced that the company's partner Ollin has completed an oversubscribed $330 million Series B financing. The financing round was co-led by new investor TCGX and founding investor ARCH Venture Partners, with participation from a syndicate of leading healthcare-focused crossover investors, sovereign wealth funds, and other institutional investors new to Ollin, including a16z Bio+Health, Blackstone Multi-Asset Investing, Commodore Capital, Canada Pension Plan Investment Board (CPP Investments), RA Capital Management, accounts advised by T. Rowe Price Investment Management, Inc., and a leading sovereign wealth fund, alongside continued investment from co-founding investors Mubadala Capital and Monograph Capital.
