Fierce Biotech Fundraising Tracker ’25: Avenzo adds $60M Series B; Ollin debuts with $100M

Avenzo Therapeutics closed a $60 million Series B financing led by OrbiMed and SR One, with participation from Longwood Fund and many existing investors, bringing its total capital raised to $446 million124.

The new funds will be used to advance Avenzo's oncology pipeline, which now includes four clinical stage assets:
two phase 1 kinase inhibitors (partnered with Allorion Therapeutics), a phase 1 bispecific antibody-drug conjugate (ADC) with DualityBio, and a preclinical bispecific ADC with VelaVigo124.

Ollin Biosciences debuted with $100 million in funding from ARCH Venture Partners, Mubadala Capital, and Monograph Capital12.

Ollin is developing OLN324, a bispecific antibody sourced from Innovent Biologics, targeting eye diseases and positioned as a challenger to Roche's Vabysmo; OLN324 is in a phase 1b head-to-head trial against Vabysmo with data expected early next year12.

Ollin also has a preclinical bispecific antibody (OLN102) targeting thyroid stimulating hormone receptor (TSHR) and IGF-1R, bolstering its asset-centered ophthalmology development strategy12.

Sources:

1. https://www.fiercebiotech.com/biotech/fierce-biotech-fundraising-tracker-25

2. http://preview.fiercepharma.com/biotech/fierce-biotech-fundraising-tracker-25

4. https://www.pharmiweb.com/press-release/2025-09-22/avenzo-therapeutics-announces-60-million-series-b-financing