During his tenure at Roche's Genentech, ophthalmologist Jason Ehrlich, M.D., Ph.D., supported the development of the blockbuster eye disease med Vabysmo (faricimab). Now, as the co-founder and CEO of newly launched Ollin Biosciences, Ehrlich seeks to topple the titan he helped create with the aid of $100 million and a clinical-stage antibody sourced from China.
Ollin, named after an Aztec symbol and the company’s “all in” approach to new eye medicines, debuted Sept. 17 with funding from Arch Venture Partners, Mubadala Capital and Monograph Capital.
The company has two assets already in the pipeline, including a bispecific antibody, OLN324, that targets VEGF and Ang2, the same receptors as Vabysmo.
Ollin has already enrolled 150 patients with wet age-related macular degeneration or diabetic macular edema in a phase 1b trial comparing OLN324 to its Roche rival, which Ehrlich acknowledges is an unusually early development stage for a head-to-head trial.
“We would rather know sooner in development—are we the same, better or worse?” Ehrlich told Fierce Biotech. “Because if you're worse, you should probably stop with that program.”
Ollin has reason to believe that OLN324 can top Vabysmo, Ehrlich added, due to its higher potency for Ang2 and smaller size, which could mean it more easily penetrates deeper into tissue after being injected into the eye.
“The objective is to have something that is, at its core, meant to improve upon the characteristics of the current standard of care,” Ehrlich explained. Top-line data from the trial are expected in the first quarter of 2026.
Ollin’s other named asset is a preclinical thyroid stimulating hormone receptor (TSHR) /IGF-1R bispecific antibody called OLN102, which the Texas biotech plans to pursue in thyroid eye disease (TED) and Graves' disease. The company intends to launch OLN102 into the clinic next year.
The only drug on the market specifically approved for TED is Amgen’s Tepezza (teprotumumab), acquired from Horizon Therapeutics, which also targets IGF-1R. By binding to TSHR as well, Ehrlich hopes OLN102 can have a superior safety profile. Ollin is also aiming to administer the antibody by injection rather than via IV like Tepezza.
Both of Ollin’s candidates come from China: OLN342 from Innovent Biologics and OLN102 from VelaVigo. For both assets, the biotech is collaborating with the Chinese companies on their respective candidates’ ongoing development.
Ollin's eyes are peeled for other promising assets from around the world, Ehrlich said, with plans to add a few more programs to its “asset-centered ophthalmology development engine.”
Ehrlich was inspired to start Ollin after departing Kodiak Sciences, where he served as chief medical officer and chief development officer for five years. While there are several platform companies in ophthalmology—including Kodiak—as well as biotechs built around single assets, he noticed a lack of focus on portfolio development and clinical execution that has been seen in other therapeutic areas such as immunology and oncology.
“We really see, given the dynamics in the market, the willingness and interest of physicians to adopt new therapies [and] the desire for patients to have better therapies,” Ehrlich said. “There's a hunger for the combination of those things in our space.”
When it comes to a long-term vision, Ehrlich said Ollin may seek to partner late-stage assets or commercialize itself, which is uniquely possible for a lean company like Ollin in the world of eye medicine. The Ollin team is currently comprised of 12 employees.
“Ophthalmology is one of the areas within drug development where smaller biotechs actually can credibly commercialize themselves,” Ehrlich said, highlighting the early days of Regeneron and its Eylea franchise as an example.
The market is concentrated around fewer major clients than other specialty areas, Ehrlich explained, and "there has historically been high receptivity to new and high-impact medications in ophthalmology."
“The markets that we're working in can be credibly commercialized by small, nimble teams,” Ehrlich added. “It's really a question of knowing that space well enough to be able to be more agile than the bigger players, which I think we are.”