4D Molecular Therapeutics Announces Strategic Licensing Agreement with Otsuka Pharmaceutical

Overview of the Agreement

On 30 October 2025, 4D Molecular Therapeutics, Inc. (Nasdaq: FDMT) announced an exclusive license agreement with Otsuka Pharmaceutical Co., Ltd. (Otsuka) for the development and commercialization of its investigational product, 4D‑150, in the Asia‑Pacific region. The collaboration targets the treatment of wet age‑related macular degeneration (wet AMD) and diabetic macular edema (DME).

Financial Terms

  • Upfront Payment – 4DMT will receive an $85 million cash payment immediately upon signing the agreement.
  • Cost‑Sharing – Otsuka will provide at least $50 million of cost‑sharing over the next three years to support development activities aimed at global registration.
  • Milestones and Royalties – The partnership includes up to $336 million in potential regulatory and commercial milestones. Royalty rates are tiered, reaching double‑digit percentages of net sales within Otsuka’s territories.

Development Impact

The proceeds from the upfront payment and cost‑sharing are earmarked to fund 4DMT’s global Phase 3 clinical trial for 4D‑150 in DME and pre‑commercial activities for both wet AMD and DME. The agreement also positions Otsuka as the sole commercial partner for 4D‑150 throughout the greater Asia‑Pacific market.

Corporate Context

4D Molecular Therapeutics specializes in therapies for genetic diseases and operates on a global scale. Prior to this partnership, the company’s share price had recently reached a 52‑week high of $12.34 on 27 October 2025, after a decline to a 52‑week low of $2.235 in April. The market capitalization stands at approximately $552.96 million, with a price‑to‑earnings ratio of –3.43, reflecting its stage of development and focus on late‑stage clinical programs.

Strategic Significance

The alliance with Otsuka provides 4DMT with a significant financial cushion and a partner with established manufacturing, regulatory, and commercial capabilities in the Asia‑Pacific. This is expected to accelerate the timeline for bringing 4D‑150 to patients in the region and to generate additional revenue streams through milestone payments and royalties.

Conclusion

The exclusive license agreement between 4D Molecular Therapeutics and Otsuka Pharmaceutical marks a pivotal step in the company’s effort to advance its late‑stage therapeutic pipeline. By securing upfront capital, cost‑sharing, and a robust commercialization partner, 4DMT is positioned to progress its Phase 3 studies and move closer to obtaining global regulatory approval for 4D‑150.