4D Molecular Therapeutics sold Asia‑Pacific rights to its retinal gene therapy 4D‑150 to Otsuka Pharmaceutical, receiving $85 million upfront and potential development and commercial milestones of up to $336 million plus tiered royalties. 4D‑150 encodes aflibercept and a VEGF‑C inhibitor sequence to provide sustained anti‑VEGF activity and reduce injection burden for wet AMD and DME. The deal funds 4DMT’s phase 3 program for wet AMD and supports an upcoming DME study; 60‑week Phase 2 data had shown a 78% reduction in supplemental injections at the phase‑3 dose versus projected on‑label use of Eylea. Otsuka will commercialize the therapy across APAC, sharing development costs. For retinal therapeutics, the agreement illustrates industry appetite to underwrite gene‑therapy approaches that replace chronic injection regimens with one‑time or durable interventions and highlights APAC as a high‑growth market for retina care.