--- title: "4D Molecular Therapeutics licenses 4D-150 to Otsuka in Asia-Pacific deal" url: "https://aibio.space/news/4d-molecular-therapeutics-licenses-4d-150-otsuka-asia-pacific-deal-85/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-10-31" section: "Financings" tickers: "NASDAQ:FDMT" source: "https://www.sec.gov/Archives/edgar/data/1650648/000119312525259302/d41653d8k.htm" summary: "4D Molecular Therapeutics agreed on October 31, 2025 to license 4D-150 to Otsuka for Asia-Pacific markets in exchange for an $85 million upfront payment. T" --- By the aibio.space news desk. Sources - [4D Molecular Therapeutics, Inc. Form 8-K filed October 31, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1650648/000119312525259302/d41653d8k.htm) - [4D Molecular Therapeutics, Inc. Form 10-K filed February 28, 2025: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1650648/000095017025030056/fdmt-20241231.htm) [FDMT](https://aibio.space/companies/4d-molecular-therapeutics/) 2025-10-31 # 4D Molecular Therapeutics licenses 4D-150 to Otsuka in Asia-Pacific deal with $85 million upfront Tickers [FDMT](https://aibio.space/companies/4d-molecular-therapeutics/) 4D Molecular Therapeutics agreed on October 31, 2025 to license 4D-150 to Otsuka for Asia-Pacific markets in exchange for an $85 million upfront payment. The company keeps leading global Phase 3 work, and Otsuka's expected cost sharing is at least $50 million over three years. ## Key facts - **Company**: 4D Molecular Therapeutics, Inc. (NASDAQ: FDMT) - **News type**: Financings - **Primary source**: [4D Molecular Therapeutics, Inc. Form 8-K filed October 31, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1650648/000119312525259302/d41653d8k.htm) *Office towers against a dusk sky. CC0, via rawpixel. The picture shows the field, not the companies named.* 4D Molecular Therapeutics, Inc. (Nasdaq: [FDMT](https://aibio.space/companies/4d-molecular-therapeutics/)) entered into a Collaboration and License Agreement with Otsuka Pharmaceutical Co., Ltd. on October 31, 2025. The company said in a [Form 8-K](https://www.sec.gov/Archives/edgar/data/1650648/000119312525259302/d41653d8k.htm) filed the same day that it granted Otsuka exclusive rights to develop and commercialize 4D-150 for ophthalmological diseases, including wet AMD and DME, in Japan, China, Australia and other Asia-Pacific markets. Otsuka will pay an upfront cash payment of $85 million. ## What Otsuka gets Otsuka will lead all regulatory and commercialization work in its licensed territories. 4D Molecular keeps leading all Phase 3 clinical activity worldwide, including in Asia-Pacific. The company keeps full development and commercialization rights outside that region, including the United States, Latin America and Europe. The two companies will set up a joint steering committee to coordinate development, commercialization and manufacture of the licensed product. ## The money beyond the upfront Otsuka has also agreed to expected cost sharing of at least $50 million over the next three years for global development. 4D Molecular is eligible for up to $335.5 million in regulatory and commercial milestone payments, plus tiered double-digit royalties on net sales in Otsuka's licensed territories. The royalties can be reduced in certain circumstances. Milestones are potential payments, and the 8-K does not say when any would fall due. The filing names no bank, placement agent, financial advisor or counsel for the agreement. The company's [annual report on Form 10-K](https://www.sec.gov/Archives/edgar/data/1650648/000095017025030056/fdmt-20241231.htm), filed February 28, 2025, puts the size of the operation in context. It reports net losses of $160.9 million for 2024, against $100.8 million for 2023, and an accumulated deficit of $576.2 million at December 31, 2024. Cash, cash equivalents and marketable securities were $505.5 million at that date. The $85 million upfront is therefore real money, but it is a single payment against a loss of that size, and it comes at the cost of rights to the company's Phase 3 asset in a large region. ## Trial status The 8-K says Asia-Pacific clinical sites in 4FRONT-2, the global Phase 3 study of 4D-150 in wet AMD, are expected to open by the end of 2025, with Japan sites expected to open in January 2026. Enrollment in 4FRONT-1, the company's first 4D-150 Phase 3 study in wet AMD, "continues to exceed initial expectations," with more than 200 patients randomized as of October 30, 2025. Enrollment is not efficacy. The 8-K reports no treatment results from either study. Otsuka may also end the agreement if certain of the company's related clinical trials fail to reach their primary endpoints, so part of the deal depends on results that do not yet exist. ## Termination and indemnities The agreement stays in effect, unless ended earlier, on a country-by-country basis until Otsuka stops developing or commercializing the product in that country. Either party may terminate for the other's material breach, subject to a right to cure. Otsuka may terminate for convenience on notice, for safety reasons, or if certain related trials miss their primary endpoints. The company may terminate if Otsuka challenges a licensed patent and does not withdraw the challenge, or if Otsuka stops all development and commercialization in Japan for an agreed period. On termination, Otsuka's license ends. The company indemnifies Otsuka for certain patent infringement allegations. Otsuka indemnifies the company for its exploitation of the licensed products. The 8-K says the full agreement will be filed as an exhibit to the 10-K for the fiscal year ending December 31, 2025. Until then, the milestone triggers, royalty tiers and reduction terms can be read only in summary. ## Who signed David Kirn, M.D., Chief Executive Officer, signed the 8-K for 4D Molecular Therapeutics. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story FDMT 4D Molecular Therapeutics, Inc. 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Cite as: aibio.space, "4D Molecular Therapeutics licenses 4D-150 to Otsuka in Asia-Pacific deal", 2025-10-31, https://aibio.space/news/4d-molecular-therapeutics-licenses-4d-150-otsuka-asia-pacific-deal-85/