This is a 96-week, Multicenter Study in Patients With Neovascular AMD That Evaluates OCUL101 for Efficacy, Safety, Durability, and Pharmacokinetics, Comparing it With Another Treatment. The Study Will be Conducted in Two Parts, Part A and Part B.

Exclusion Criteria

• •Participants who meet any of the following criteria will be excluded from study entry:
• •1. CNV due to causes other than AMD, such as ocular histoplasmosis, trauma, pathological myopia, angioid streaks, choroidal rupture, or uveitis in either eye.
• •2. Any history of macular pathology unrelated to AMD affecting vision or contributing to the presence of intraretinal or subretinal fluid in the study eye.
• •3. Presence at screening of central serous chorioretinopathy in the study eye.
• •4. Retinal pigment epithelial tear involving the macula.
• •5. On FA/CFP/OCT/FAF: Inactive nAMD in the study eye:
• •1. Subretinal hemorrhage of \>50% of the total lesion area and/or that involves the fovea
• •2. Fibrosis of \>50% of the total lesion area and/or that involves the fovea
• •3. Cystic degeneration (persistent intraretinal fluid or tubulations unresponsive to treatment)
• •6. Any concurrent intraocular condition (e.g., amblyopia, aphakia, retinal detachment, cataract, diabetic retinopathy or maculopathy, or epiretinal membrane with traction) that, in the opinion of the investigator, could either reduce the potential for visual improvement or require medical or surgical intervention during the study in the study eye.
• •7. Current vitreous hemorrhage at Screening and Day 1 in the study eye.
• •8. Uncontrolled glaucoma, defined as intraocular pressure \>25 mmHg while on two or more pressure lowering medications and/or will require surgical intervention or laser treatment during the study in the study eye.
• •9. Spherical equivalent of refractive error demonstrating more than 8 diopters of myopia in the study eye.
• •10. For participants who have undergone prior refractive or cataract surgery, the preoperative refractive error should not have exceeded -8 diopters of myopia in the study eye.
• •11. Any prior or concomitant treatment for CNV, GA or vitreomacular-interface abnormalities, including, but not restricted to, IVT treatment (e.g., anti-VEGF, complement therapy, steroids, tissue plasminogen activator, ocriplasmin, C3F8, air), periocular pharmacological intervention, argon laser photocoagulation, verteporfin photodynamic therapy, diode laser, transpupillary thermotherapy, or ocular surgical intervention in the study eye.
• •12. Any cataract surgery or treatment for complications of cataract surgery with steroids or YAG (yttrium-aluminum-garnet) laser capsulotomy within 3 months prior to Screening in the study eye
• •13. Any other intraocular surgery or intervention (e.g., pars plana vitrectomy, glaucoma surgery, including minimally invasive glaucoma surgery \[MIGS\], corneal transplant, or radiotherapy)
• •14. Non-functioning non-study eye, defined as either:
• •1. BCVA of hand motion or worse
• •2. No physical presence of non- study eye (i.e., monocular)
• •15. History of idiopathic or autoimmune-associated uveitis in either eye
• •16. Active ocular inflammation or suspected or active ocular or periocular infection in either eye at the Screening visit.
• •17. Any major illness or major surgical procedure within 1 month before screening 28 Clinical Protocol OCUL101-002 Shenzhen Oculgen Biomedical Technology Co., Ltd. Protocol OCUL101-002, Version 2.0 Date: 12March2026
• •18. Active cancer within the 12 months prior to Screening except for appropriately treated carcinoma in situ of the cervix, non-melanoma skin carcinoma, and prostate cancer with a Gleason score of \< 6 and a stable prostate-specific antigen for \> 12 months
• •19. Requirement for continuous use of any medications and treatments indicated in Section 6.6.1, Prohibited Therapy
• •20. Systemic treatment for suspected or active systemic infection at Screening.
• •a. Ongoing use of prophylactic antibiotic therapy may be acceptable if approved after discussion with the Medical Monitor
• •21. Uncontrolled blood pressure, defined as systolic blood pressure \> 180 mmHg and/or diastolic blood pressure \> 100 mmHg while a participant is at rest at the Screening visit.
• •a. If a participant's initial reading exceeds these values, a second reading may be taken later on the same day or on another day during the screening period. If the participant's blood pressure is controlled by antihypertensive medication, the participant should be taking the same medication continuously for at least 30 days prior to Screening.
• •22. Stroke (cerebral vascular accident) or myocardial infarction within 6 months prior to Screening.
• •23. History of other disease, metabolic dysfunction, physical examination finding, or historical or current clinical laboratory findings giving reasonable suspicion of a condition that contraindicates the use of the investigational drug or that might affect interpretation of the results of the study or renders the participant at high risk for treatment complications in the opinion of the investigator
• •24. Pregnancy or breastfeeding, or intention to become pregnant during the study
• •a. Women of childbearing potential must have a negative urine pregnancy test result within 28 days prior to initiation of study treatment. If the urine pregnancy test is positive, it must be confirmed by a serum pregnancy test.
• •25. History of a severe allergic reaction or anaphylactic reaction to a biologic agent or known hypersensitivity to any component of OCUL101 or aflibercept injections, study-related procedure preparations (including fluorescein), dilating drops, or any of the anesthetic and antimicrobial preparations used by a participant during the study
• •26. Participation in an investigational trial that involves treatment with any drug or device (with the exception of vitamins and minerals), including gene therapy or cell therapies, within 3 months prior to Screening.