Singapore, June 25 -- Ollin Biosciences has completed an oversubscribed US$330 million Series B financing to advance global Phase III development of OLN324, also known as IBI324, in retinal vascular diseases.

The financing was announced by Innovent Biologics, Ollin's partner. The round was co-led by TCGX and founding investor ARCH Venture Partners, with participation from a broad syndicate of healthcare-focused investors, sovereign wealth funds and institutional investors.

The proceeds will support global Phase III trials of OLN324 in diabetic macular edema and wet age-related macular degeneration. The company also plans to advance another drug candidate into clinical development this year.

This is relevant because DME and wet AMD rema...