4D Molecular Therapeutics struck a deal with Otsuka Pharmaceutical granting Asia‑Pacific rights to its retinal gene therapy 4D‑150, securing $85 million upfront and potential development cost‑sharing. The transaction includes up to $336 million in regulatory and commercial milestones and tiered royalties, supporting global phase 3 plans for wet age‑related macular degeneration and diabetic macular edema. 4D‑150 encodes aflibercept and a VEGF‑C inhibitor sequence to provide sustained anti‑VEGF activity and reduce injection burden. Phase 2 data showed a substantial reduction in supplemental injections at the phase‑3 dose. The APAC partnership is intended to accelerate regional development and pre‑commercial activities while 4DMT retains global leadership of the pivotal program.