VelaVigo Bio Secures $440M Deal with Ollin Biosciences for Bispecific Antibody Rights

Shanghai-based VelaVigo Bio has continued its streak of successful partnerships, announcing a deal worth up to $440 million with U.S. biotech Ollin Biosciences. The agreement grants Ollin near-global rights to VBS-102, a first-in-class bispecific antibody developed by VelaVigo.

Deal Structure and Financial Terms

The financial package includes an upfront fee and potential development, regulatory, and commercial milestones totaling $440 million. VelaVigo will also receive tiered royalties on sales in Ollin's territory, which encompasses all markets outside of China.

This deal marks VelaVigo's second major partnership in recent months, following a November agreement with Avenzo Therapeutics for another bispecific antibody-drug conjugate. The Avenzo deal, potentially worth up to $750 million, included $50 million in upfront and near-term payments.

VelaVigo's Strategic Momentum

VelaVigo Bio has been rapidly expanding its presence in the biopharmaceutical landscape. In addition to its recent deals, the company secured a $50 million financing round in February, further bolstering its resources for drug development and commercialization efforts.

While specific details about VBS-102 remain undisclosed, VelaVigo has positioned it as a first-in-class bispecific antibody, potentially targeting novel mechanisms of action or disease pathways.

Ollin Biosciences: A Rising Player in Ophthalmology

Although Ollin Biosciences maintains a low public profile, available information suggests a focus on ophthalmology. The company's recent activities include:

• Filing a trademark for "OLLIN" covering ophthalmic disease treatments in January 2024
• Funding research on glaucoma at Duke University
• Appointing Jason Ehrlich, former Kodiak Sciences executive and ex-Genentech ophthalmology lead, as CEO

Ollin's board includes Paul Berns, a managing partner at Arch Venture Partners, indicating potential backing from the prominent venture capital firm. The company was co-founded by Atul Dandekar, an executive at Arch-backed Maze Therapeutics.