Ollin Biosciences raised $330 million in a Series B as it prepares for Phase 3 trials of its Vabysmo challenger licensed from a China-based developer. The funding is designed to support pivotal studies in diabetic macular edema and wet age-related macular degeneration, both associated with significant risk of vision loss. The company’s investment narrative is tied to a head-to-head study suggesting certain advantages for Ollin’s asset versus Roche’s Vabysmo, setting up what will effectively be a late-stage test of competition in a crowded ophthalmology segment. Ollin said TCGX and ARCH Venture Partners co-led the round, with participation from a mix of established biotech and crossover investors as the program approaches late-stage readouts.