4D Molecular Therapeutics agreed to sell Asia‑Pacific commercialization rights for its retinal gene therapy 4D‑150 to Otsuka Pharmaceutical, securing $85 million upfront and potential milestone payments reaching roughly $336 million plus tiered royalties. Otsuka will contribute to APAC development and cost‑sharing for global studies. 4D‑150 encodes aflibercept and a VEGF‑C suppressor sequence to provide sustained anti‑VEGF activity for wet AMD and diabetic macular edema; 60‑week phase 2 data showed a substantial reduction in supplemental injections. 4DMT will continue to lead global phase 3 activity and manufacturing. The partnership supplies near‑term cash to fund a planned phase 3 DME study and pre‑commercial work while leveraging Otsuka’s APAC footprint for market access and regulatory engagement.